Here's a book I wish I had read when I first started out my trading career. It would have saved me from lots of losses!
This book has everything just for the beginning investor and trader. It's well written and things are explained very well. You'll learn about trend lines, moving averages, support and resistance levels, and so much more. It's low-priced compared to how a lot of losses will add up and eventually destroy your account. This was written by Oliver Velez and Greg Capra.
Many years ago. And I mean many years ago, I read this book on trading futures by Charles Drummond entitled, "How To Make Money In The Futures Market . . . And Lots Of It." It was a great book to read. I learned about Drummond Geometry via it too. I still remember some advice he gave in that book. He highly recommended studying psychology. All of the great traders will tell you to study psychology. He stated, "get to know yourself very well."
So, here we go. The next two books listed below are about this subject. They were written by the late Mark Douglas. These books taught me more about psychology than all of the courses I took way back in my college days. The main theme you'll get to understand is how one's belief system comes into play whether you are an investor, trader or day trader.
Coming Soon
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It's a SURPRISE !
So, you are asking yourself, how did those guys ever make all that money trading futures, stocks and even mutual funds? Guess what? Most of them lost a lot of their money the 1st time they tried trading. That's right. It took a major loss to wake up a silent giant which was within them. In Jack Schwager's books, there is only one guy that was profitable right out of the starting gate. And I also lost a small fortune during the Internet Bust of 2000 to 2002. The hardest part was that I had "no capital" to use when the market started recovering in the summer of 2002. On the other hand, being profitable and winning a big windfall in the beginning is probably the worst thing that can happen to a new trader. As the saying goes, "No Pain, No Gain." That is, No Gain in knowledge, understanding and wisdom. This kind of rings a little bit about Solomon's "Lady" Wisdom?! By, reading about the very successful Turtle Traders, I learned some things about trend following and money management. Preservation of "capital" should be the prime thought and concern for anyone involved in the markets and especially traders!
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