Must read beginner books

D

dprundle

I was wodering what you guys consider must read books for beginners? Preferrably something that will outline some of the language you guys use (that I still don't understand).
 
The best education is screen time. Don't get carried away with too many books. My recommendation is High Probability Trading by Marcel Link. Many books can be found on the internet, so don't go buying a bunch.
 
Quote from dealmaker:

Trade Your Way To Financial Freedom by Tharp.
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I have found the R:R,win%, expectancy etc.,. to be quite of a drag when one day trades. Good concepts but the evil market does not behave that way. Set it and forget it does not work for me. I will bet that Tharp does not trade.

As far as books I will recommend "Zen in the markets" and "Pit Bull".
 
Quote from ivanbaj:

I have found the R:R,win%, expectancy etc.,. to be quite of a drag when one day trades. Good concepts but the evil market does not behave that way. Set it and forget it does not work for me. I will bet that Tharp does not trade.

As far as books I will recommend "Zen in the markets" and "Pit Bull".
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I bet YOU don't trade.

Good R:R, Win% and expectancy are the foundations of good trading.
 
Quote from Halal Burger:

I bet YOU don't trade.

Good R:R, Win% and expectancy are the foundations of good trading.
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I was not very accurate in my statement. The usual R:R (1to3) and the static concept of entry and stop loss does not work for me. There is of course a win% expectancy and win% that work for me. But they are almost 180% opposite of what the book discusses.
 
Reminiscences of a Stock Operator by Edwin Lefèvre

Pit Bull: Lessons from Wall Street's Champion Day Trader by Marty Schwartz

The Psychology of Trading: Tools and Techniques for Minding the Markets by Dr.Brett N. Steenbarger
 
Discretionary Trading ----> Screen Time.

Price action + Auction Market theory + Basic statistics + Market Tendencies + steenberger (decent starting point)

That should get you off the ground.
 
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