Make An Investment

Posted by Fetor 5 Comments

The financial markets are an unforgiving environment. The vast majority of beginners and novice traders are chewed up and spit out. The market is replete with capital crushing odds that battle against you at every step. Thus, it is good to have an understanding of the market, a good understanding, an excellent understanding.

Your journey begins by making the decision to stick with it and to work at it. Look at learning to trade as a lifetime achievement. If you are not willing to read and study and examine charts and understand some economics then you really should stop trading. I’m to the point that I will not even dialogue with someone who is unwilling to pick up a trading/forex book and read it and study it. Self learning is just a bare minimum exercise as far as I’m concerned. I always have a trading book I’m reading; maybe about technical analysis or global markets or trading psychology.

I put together a list below of my short stack of trading books worth your time. These books will help you actually learn how to trade so that you can learn to trade and take the small odds that exist and use them to your advantage. You can not go wrong with any of these books.

Steven Nison

http://www.amazon.com/Japanese-Candlestick-Charting-Techniques-Second/dp/0735201811/ref=sr_1_1?ie=UTF8&s=books&qid=1277325273&sr=8-1

Al Brooks

http://www.amazon.com/Reading-Price-Charts-Bar-Technical/dp/0470443952/ref=sr_1_1?ie=UTF8&s=books&qid=1277325322&sr=1-1

Michael Parsons

http://www.amazon.com/Channel-Surfing-Channels-Profitable-Trading/dp/142083312X/ref=sr_1_1?ie=UTF8&s=books&qid=1277325367&sr=1-1

Mark Douglas

http://www.amazon.com/Trading-Zone-Confidence-Discipline-Attitude/dp/0735201447/ref=sr_1_1?ie=UTF8&s=books&qid=1277325624&sr=1-1

Jason Zweig

http://www.amazon.com/Your-Money-Brain-Science-Neuroeconomics/dp/0743276698/ref=sr_1_1?ie=UTF8&s=books&qid=1277325817&sr=1-1

Ashraf Laidi

http://www.amazon.com/Currency-Trading-Intermarket-Analysis-Shifting/dp/0470226234/ref=sr_1_1?ie=UTF8&s=books&qid=1277325904&sr=1-1

Dirk Du Toit

http://www.bird-watching-in-lion-country.com/

Rob Booker
My Fairy God Trader (small ebook you can download online)

Finally, there is no get rich quick that exists in trading. You better be in for the long haul and expect to grind it out while in the learning process.

Karim

Thanks for the information Fetor. Your trading style has really helped me grasp and understand the market and how it works.
Cyprusman

Fetor, Good point here, I have no backround whatsover in finance and have found that the amount of effort required in study is comparable to a degree course. Each little ah ha moment adding a tiny amount of positive knowledge to increase those probabilities. It is only a fool that thinks money can be made without any effort and thinks the answers will appear through the ether.
Scott (yep, me.)

Fetor, That is great information. Thank you for sharing that. It’s always good to ‘get right’ with the background information that someone has covered… especially when one is interested in following your path and thought process.
shem

Hey Mate,

Nice list. Good to see some books that aren’t on the usual lists.

Went and read BWILC. In-between his ramblings about what not to do, there is some very interesting info. However much of it seems to conflict with your technical views on what drives the market in the short to medium term. This is understandable as he has a Macro, long term view on the markets. Your style of trading ( out of the many I have studied ) is the one that resonates with me the best. I am of the opinion that a mentor/coach would really further my trading education. ( inspiration/someone to bounce off) I am now actively searching for one. Would you recommend Dirk? $2000 is a reasonably decent amount of cash and I would appreciate your opinion. Or suggestions if you have any others.

Thanks for your time, your efforts to us the noobie community are greatly appreciated.

Shem

http://www.forex4noobs.com/blogfet/ Fetor

Shem,

I know there are some differences between BWILC and myself, but I think that is ok in the sense that what he is providing is still a proper understanding of the markets so it provides a variety to trading that might suit someone better according to their personality and style. My way of trading is not for everyone. So, though I look at things a little differently, I still think what Dirk has to offer is superb information for someone learning to trade and the way he approaches it will make someone money if they like his style. And that’s what we want at forex4noobs.com is people trading methods that teach them how to fish so they can fish for themselves rather than bogging them down with useless systems that make forex salesmen rich but the trader loses their money and never makes it in the market.

I have never experienced personally the mentoring Dirk offers so I would not be able to comment on that. I have had a few conversations with him and I am familiar with his reputation and it is impeccable. I do think he is genuinely an honest forex trader that will give you a method that will teach you to trade. I think he is a genuine person and will not short change you. But, I only say these things from a few very short emails and other people’s comments about their interaction with him, not from any personal mentoring experience I have had.

-Fetor