Trading Advice Required...

Quote from hwkaiser:

good post and fair assessment. Thank you for not flaming my post, but making a constructive reference.

I agree that bogle doesn't provide much insight, just a bit of history on index funds. Graham as well for trading, but for a newbie investor I felt it has its merits and provides some foundation on his concept of value investing, at the minimum some history.

When I responded to this post, I copy and pasted my reading list and left it to the OP to decide which may be of interest to him.

As I pointed out, I too am a relative newbie and was attempting to contribute to the best of my abilities. I appreciate the fair appraisal and advice given by you and some of the other more constructive posters. It is a shame that the constructive posts are in the minority in these forums.

Glad you didn't get your feelings hurt. It wasn't the intent.

Back to Graham. He has no place on a trading site. Yes, good old Warren worked for the Graham-Newman corp in the 1950's. Ben I believe had an affair with his own son's wife. He acquired control of Geico in 1976 for a song. Died the same year. Yes, Graham-Dodd is considered a bible. I don't apply it nor thee bible to trading. Try to find "A" stock priced at two thirds of net working capital.

Mass market books are...................mass market books. William O'Neil once remarked he "never" made much money shorting. YET.............he writes a book on the topic. CANSLIM. Sounds like a diet drink.

Schwager's wizard series...................eh...............entertaining. So would books on Mickey Mantle, Jackie Robinson and Lew Alcindor.

I think one of Daryl Guppy's books, before he became "an author", entitled "Market Trading Techniques", has some value for a beginner. I include Guppy moving averages on all stocks I follow. A lesser known book, How To Make The Stock Market Make Money For You", circa 1966, by Ted Warren, has made me a shit load of money, but is remotely applicible to trading. Long term, low level, multi-year bases.

Linda Bradford Rashke's website, with free articles, some of which describe and example the 3-10 First Cross, would be appropriate for a beginner.

Yes, Bogle is the father of indexing. Important for those that strive for mediocrity. But.............given 2/3 of insitutiuons under-perform the S&P each year, hmmmm, maybe we're onto something.
 
Quote from TheSorcerer:

Which FIVE BOOKS are the MOST IMPORTANT books for someone that is new?

Has anyone suggested "An American Hedge Fund" by Timothy Sykes?

Seriously, my favorite 5 books might be worthless to another trader and so on. You need a lot of time watching the markets and doing broad research (more than 5 books) until you see something you are drawn to.......stocks, etfs, futures, options, whatever. Once you decide what you might feel comfortable trading then you should narrow your research to just THAT and become the best you can at that.
 
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