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What would you recommend for study materials?

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Itsabluff

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Just to give you a bit of a backround of where I'm at with my learning. So far I have read the book; Shares: A Self-Help Guide To Success On The Sharemarket by Roger Kinsky, which is a very basic outline of the sharemarket and the strategies used to trade it. The next book I have started on is one of Guppy's books on chart analysis, however my initial impressions having read only a 1/4 is that this is a little outdated and maybe there are more relevant books on the same subject.

I have also been watching through the "basics of trading" series by informedtrades via youtube, which runs through most of the popular indicators, money management etc. This series has been well worth the time, and although it is truly a basic overview i have learnt a lot.

So, given I have a pretty basic understanding of atleast some of the indicators, money management etc. What sort of books, websites, videos would you recommended to get me up to speed with the fundamentals of trading?
 
Re: What would you recommended for study materials?

Itsabluff said:
So, given I have a pretty basic understanding of atleast some of the indicators, money management etc. What sort of books, websites, videos would you recommended to get me up to speed with the fundamentals of trading?
Click to expand...

At your local library get out any books you can on Warren Buffet.

Read the first book of Robert Kyosaki "Rich Dad Poor Dad"

The best for me was "Trend Following" Michael Covel.

Guppy is okay, dont put it aside due to date. Some fundamental lessons never die.

Look at and try to decipher charts. Follow threads on ASF on technical anaylsis and also follow threads on stocks whilst also watching the charts against the date of posts.

It takes a number of years to be sure of yourself.

Do not gamble with your hard earned.
 
Re: What would you recommended for study materials?

The intelligent investor by Ben Graham.

This book changed my life. Look you can go and read a hundred other investing books like I did (most have good points), But none come close to helping you establish an investment mindset like the intelligent investor.

I will say it a hundred times and sound crazy. but if you don't read this book you are doing yourself great injustice.

Read the intelligent investor
 
Re: What would you recommended for study materials?

At the risk of being labelled picky, I'd re-read my heading for this thread.
"Recommended???"

I'm sure you mean 'recommend'.

You can read everything available, but nothing beats practical experience.
Buy some blue chip shares, e.g. Woolworths, Wesfarmers, any of the big banks, simply to acquire a feel for the market. It will start to fall into place from there.

If you want to read something useful, get Stan Weinstein's "Profiting in Bull and Bear Markets" and learn how to use price action.

Too many beginners read so much that they become confused.
Don't waste your time doing fundamental analysis on true blue chips. A very basic understanding of charts will allow you to buy into these profitably.
 
Re: What would you recommended for study materials?

Thanks for the replies so far, really appreciated.

Also, I already own mathematics of poker, currently it forms part of the stand for my 2nd monitor. Good book, didnt read through all of it, but it definitely ranks up there when it comes to poker literature.

Please keep the suggestions coming.

Also, what material would be in the day traders must read collection. I've heard something about a book entitled "Day Trading for a Living". Anybody have some thoughts on this book, or perhaps others just like it?
 
Re: What would you recommended for study materials?

Tyson, I can see you feel very strongly about this book, and seeing as buffet does as well, ill take your word for it (and his) and read the damn thing. Could you elaborate further on what the book covers and why it stands out to you? Also, i tried to edit the title, but the edit button went away :banghead:
 
Re: What would you recommended for study materials?

The Lexus and the Olive tree by Thomas Friedman.1999

Not much about trading in it but what it gives you is a healthy scepticism about how the finance and media world works, and shows you how the big picture is so relevant to our small decisions....and its a great read. :)
 
Re: What would you recommended for study materials?

Itsabluff said:
Thanks for the replies so far, really appreciated.

Also, I already own mathematics of poker, currently it forms part of the stand for my 2nd monitor. Good book, didnt read through all of it, but it definitely ranks up there when it comes to poker literature.

Please keep the suggestions coming.

Also, what material would be in the day traders must read collection. I've heard something about a book entitled "Day Trading for a Living". Anybody have some thoughts on this book, or perhaps others just like it?
Click to expand...

Hi.
Go to Amazon and check out "Sell and Sell Short".by Alexander Elder.
Get the book up and you can have a squiz at the Index and inside the book.
It price is up a bit but I can tell you its worth it..
The problem with $29 books, is you got to read about ten to get anywhere.
Elder also has "Come in too my trading room".
Any trader I leant it to bought their own.

Elders books are the basis of some education systems.
In Sell and Sell Short he shows how to "grade" your trades, entry and exits.
This then reduces "slippage"

My library is both the Elder books. Stan Weinsteins,
And two from America.
High Probability Trading Strategies by Robert Miner, and Fibonacci Trading by
Carolyn Borden. Both the last two have webbsites and webinar free from time to time. Borden shows a CCI indicator strategy as the ideal trade set up.
I will post a chart shortly.
Cheers
 
Re: What would you recommended for study materials?

You need to learn what makes any trading Idea or method profitable.
You can read 100s of books but unless you know how to apply what you learn into a profitable methodology---and know that it has a good chance of being profitable---and know when its clearly showing you its not going to plan---then your wasting your time.

The only books I know of which actually tell you that are.
(1) The Universal Principals of Successful trading --Penfold.
(2) The first 50 Pages of Adaptive Analysis ---Radge.

Once you've read these you'll then be in a position to Know what path you'll be taking.
If you read everything else first you'll have no idea whether your application will lead to success or failure.
 
Re: What would you recommended for study materials?

Itsabluff said:
Thanks for the replies so far, really appreciated.

Also, I already own mathematics of poker, currently it forms part of the stand for my 2nd monitor. Good book, didnt read through all of it, but it definitely ranks up there when it comes to poker literature.

Please keep the suggestions coming.

Also, what material would be in the day traders must read collection. I've heard something about a book entitled "Day Trading for a Living". Anybody have some thoughts on this book, or perhaps others just like it?
Click to expand...

Ten Points From Elders book.
"How do you know when you have become a diciplined trader.
1 You keep accurate records.
2 Your equity curve shows a steady uptrend with shallow drawdowns.
3 You make your own trading plan.
4 You do not chat about your trading.
5 You learn all you can about the market you are trading.
6 You grade yourself on the adherence to your written plan.
7 you allot a certain amount of time to the market each day.
8 You monitor selected markets daily, regardless of their activity.
9 You learn and are open to ideas, but skeptical of claims.
10 You follow your money management rules as if your life depended on them-
because your financial life does.
This happens to be from the chapter TRADING FOR A LIVING.
Cheers.
 
Re: What would you recommended for study materials?

Not related to trading, but related to making money.

"the millionaire next door"
 
Re: What would you recommended for study materials?

I'm sure you could find something here to read (if you don't mind e-books):

Code: 
http://financefreebooks.blogspot.com/
 
Hi Itsabluff,

Are you interested in technical analysis?​

The ASX has an excellent Charting Library that explains how to understand chart patterns and technical indicators.

The Charting Library has information on all the common chart patterns - trendlines, support and resistance, flags etc.

Technical indicators are also covered - bollinger bands, moving average, MACD etc

To view this:

1. Go to the ASX website
2. On the left hand side, click on Prices & Research
3. Click on Charting
4. Click on Charting Library
 

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