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Initial post: Jun 22, 2009 3:40:59 AM PDT
Hi,

I would like to find a comprehensive text on trading and short term speculation for a begginer/intermediate level investor.

Please recommend an authoritative text that covers lessons to self discipline as well as strategies, tools for information analysis etc.

I have recently made a few trades. One was very profitable however if I held the stock for two more days I could have made a considerable amount more.

I have also made the mistake of buying a stock at a 'peak' of a recent rally. My thinking at the time was that the price of the stock one year ago was over $2, now it has risen to 0.35 from 0.07. If I do not enter now I will regret it. My rational side was telling me to wait or place an order at 0.25. I actually did place that order but then I amended it to 'at market'. Now the stock is worth 0.25.

These were good lessons. I don't know if reading a book will help. But if anyone can recommend a good one please do.

Posted on Aug 21, 2009 8:00:19 AM PDT
A great book for a beginning trader is Trading for a Living by Dr. Elder. He discusses money management(the most important thing for a trader), gives a long list of technical indicators, including how to derive them without the help of computers(so you really understand what they mean), and a look at the psychology of trading. It's a great book to have in your trading library.

Trading for a Living: Psychology, Trading Tactics, Money Management

Posted on Apr 20, 2010 3:30:55 PM PDT
Rob says:
Trading for a Living is good. When you're ready to get build your skills and find your personal strategies and set ups, go with Mastering the Trade. Find yourself some good chat room/message boards and follow the better traders you see.
Good luck with it. Hardest easy money you'll ever make. Took me about 3 years to get consistently profitable.
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Initial post:  Jun 22, 2009
Latest post:  Apr 20, 2010

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Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude
Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude by Mark Douglas (Hardcover - April 1, 2000)
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