Quote from TheSorcerer:
Hi, I am a new trader too, and the first book I read was An American Hedge Fund by Timothy Sykes. I like the book a lot, and I felt it was a good introduction to the world of trading.
If you want to lose all your money the first week--read and follow everything in Sykes' book. Then call him up and tell him you want you're money back and see where that gets you. LMAO!
Set up your charts and watch price action day in and day out. Look for support and resistance levels and how price bars react around them. What the heck, you're going to spend all your time and all your money reading stupid books so why don't you cut to the chase and watch the markets??
No book is going to tell you how to trade..you're trading personality, or your risk tolerance. You have to do that yourself.
Spend a week or two watch and not trading, then spend a month or two on a simulator. Trust me it is the only way.
But you'll do what every other trader wannabe does and try to read a book, then sign up in some room that charges 300 fucking dollars a month only to lose lose lose, until you end up back here saying to yourself---"Gee, that asshole Scarylarry was right, I 'm fucking broke, but he was right"!