Good Trading Book for Beginner

There's no need to keep posting the link. I've read it. What part of "I found value in the books" are you having trouble understanding?
 
Quote from Lamont_C:

There's no need to keep posting the link. I've read it. What part of "I found value in the books" are you having trouble understanding?
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I do not post it for you. But for anyone else that may come into this thread and will continue to do so until this thread ends up in chit chat, or this link ends this thread. Take your pick:

Read all about it here:

http://www.elitetrader.com/vb/showthread.php?s=&postid=789472#post789472

And I think the book is crap.

nitro
 
Quote from nitro:

I do not post it for you.

nitro
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Since you keep posting it in reply to my responses, I suggest that the "truth" of which you are so fond lies elsewhere.

In any case, my posts also stand.

Have a nice Christian day.
 
All: .Another good book is the ill-titled, "The Encyclopedia of Trading Strategies" by Katz and McCormick, which is in fact one of the best system testing books available. I'll keep posting recommendations until I find one that Nitro likes, or at least hasn't read, the latter perhaps being easier to achieve. No doubt he will think that I am both Katz and McCormick, a fine genderological feat, as well as Threei. :Al
 
Albert Cibiades,

you miss a subtle point here. if you read earlier you will see that i actually recommended the books by elder, threei, and farley.

why? because the books deliver sound concepts that are invaluable to a beginning trader. i will go as far as to recommend velez's book as well, i am not kidding.

however, from here to admiring someone like elder for his trading mastery, there's a world of difference there. he is a WRITER. not a TRADER.

can you benefit from his writing? definitely. did i benefit from pristine's book? yes i did! even a charlatan, and that velez surely is a charlatan, give me one person on planet earth that will say otherwise; even a charlatan can sell pure fine gold.

but just be aware - you're buying pure fine gold from a charlatan. so watch your step there - the gold is fine, the seller is not.
 
and i would add, if you will ask "how can he write good trading books if he's not a good trader".

that's easy. the trading theory is understood by many.

but knowing the path and walking the path are completely different things.

so he KNOWS what's right, but can't implement it properly so to be a proper trader himself. so - he becomes a writer and sells books and seminars. if he has good writing skills and good salesmanship skills - he's on his way to an awesome career.

trading is like karate in a way. the karate art is not complicated. but can you be a good karatist? even if you KNOW all there is to know about the art? knowing and being are completely different. so if you can't BE, then write a book about it instead.
 
50 cent: .My apologies for not noticing. Oh, how I wanted the Velez to work! And the methods of the exactly 50 other trading books on my shelf I didn't burn in disgust after reading. The follies of youth!. :Al
 
to be exact, i was referring to the first part of his book, the psychological part.

as for the techincal part, well, that doesn't work.
"the first pullback from a new high is buyable nearly 100% of the time" - well yeah, that doesn't really work :mad:

:cool:
 
50 cent: .Indeed, that part is so good because it relates trading to addictions like alcoholism and gambling. It was pre-ET, so he could not treat of compulsive posting, people with 7000+ posts to their discredit. :Al
 
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