Goods/Whodi

pats3peat · #1 08-20-2007, 02:00 AM

What books would you recommend to beginners to read?
Thank you.

Also: What fake-stock site do you recommend to get started up?
I heard marketocracy is a good one and is very realistic as far as virtual stocks sites go.

Goods · #2 08-20-2007, 03:33 PM

Haven't worked with the paper trade sites much. If you like Marketocracy, go with it. You can learn the process from any of them.

With the books-- for learning the basics of T.A., I like Technical Analysis of the Financial Markets by John Murphy. Great text book style, easy to follow.

Short term/day trading I'm reading High Probability Trading by Marcel Link. Very good explaining not only the markets but the psychology of traders along with it. And has great actual charts detailing everything he's talking about, as opposed to hand drawn like other books.

Post any questions, I'll help out as best I can. I'm still learning myself but getting better everyday.

whodi · #3 08-20-2007, 03:55 PM

The Books Goods mentioned are great books. That should be good enough for right now as your starting off. Just keep updating when you are finished and if are looking for more material and what type of material you are interested in reading. You will be able to think of if as you are reading those. Like Goods said also, keep posting any questions you have or concerns.

The Little Giants · #4 08-20-2007, 04:01 PM

There are a lot of solid books out there. Here are a few:

Technical Analysis of Stock Trends, 8th Edition by Robert D. Edwards

The Master Swing Trader: Tools and Techniques to Profit from Outstanding Short-Term Trading Opportunities by Alan S. Farley

Trading for a Living: Psychology, Trading Tactics, Money Management by Alexander Elder

The Visual Investor: How to Spot Market Trends by John J. Murphy

ZoomVT · #5 08-20-2007, 04:54 PM

thanks for the book info. im ordering both of those from amazon...

duckster · #6 08-21-2007, 07:56 AM

great list! my favorite...

Reminiscences of a Stock Operator. by Lefevre

pats3peat · #7 08-24-2007, 03:23 AM

Thank you goods/whodi/the little giants/duckster... I will order those two you recommended Goods to start me off as soon as I get my amazon $25 gift card in the mail which should be soon, haha.

And i guess ill go with marketocracy for the paper trading.

Goods · #8 08-24-2007, 04:16 PM

Good luck Pats. I also have one LGiants mentioned. Trading for a Living by Alexander Elder but haven't cracked it yet. Comes highly recommended.

pats3peat · #9 08-25-2007, 11:47 PM

I have another question for you guys...
how did you guys get started with the stock market?
Did you read a couple books? And then did you just experiment with a couple thousand dollars, and what was your strategy at the beginning or whatever.

Did you paper trade at a site like marketocracy or anything to get hang of it?

Goods · #10 08-26-2007, 08:54 PM

Actually I started, heavily anyway, by watching Jim Cramer. He called KRY for a 2 week double and I wanted in after that. Thought it was easy. That a**hole's recommendations cost me thousands before I was done with him.
Fell onto this site by accident and after watching Whodi's posts, I started asking questions and reading books. Didn't know a thing about technicals until a few months ago.
Those books you ordered will get you well on your way, 3Peat-t.o. Take your time and read everything you can. There are good trades to be made today, tomorrow, next week, whenever. No hurry.