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MrXxx

The Library

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Hi Folks,

Seeing people recommend books on this section and the other about finance/investing...and then seeing them get `lost` in a `sea` of replies, I thought I would start this thread.

I have two recent reads:~

Saving and investing for retirement by Yoram Lustig (isbn 978_1_292_12929_A good introduction to active investment).

 

Investing demystifyed by Lars Kroijer (isbn 978_1_292_15612_5). Very repetitive on what is a simple passive investment approach. Read introduction and appendices, and forget about the rest inbetween!

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24 minutes ago, MrXxx said:

Hi Folks,

Seeing people recommend books on this section and the other about finance/investing...and then seeing them get `lost` in a `sea` of replies, I thought I would start this thread.

I have two recent reads:~

Saving and investing for retirement by Yoram Lustig (isbn 978_1_292_12929_A good introduction to active investment).

 

Investing demystifyed by Lars Kroijer (isbn 978_1_292_15612_5). Very repetitive on what is a simple passive investment approach. Read introduction and appendices, and forget about the rest inbetween!

I second that on Investing Demystifyed. Really you can ignore the book and go directly to his youtube channel, unless of course you enjoy reading more :D.

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I am looking for books aimed at forex. Forex seems difficult to me so I am naturally most interested in it. From what I have garnered the forex dynamic is small traders providing liquidity to big banks. Big banks eat most traders. Don't swim in the shoal with the other traders or the big banks will eat you. And secondly, it is very trend based with MACD indicators, and indicators-of-indicators being very strong.

Am yet to test any of this out yet as I haven't got a clear and defined algo, nor do I even know the what the full structure of a workable trading algo looks like! I only know that you need one ATR for risk, one for entry; one for confirmation; one for exit. From the crumbs I have picked up there are more, but I haven't worked these out yet. 

Working 9-5 is dull. Having the weekends off is crap when all the markets are bloody closed! How will I ever learn?

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You need to find a book written by someone who's made a fortune in forex. The only person I might know is PT Jones - but he hasn't written a book yet. I don't recommend going into forex if you are new to trading as you could lose a lot of money in short order.

I don't have much experience in Forex personally only dabbled. It is most likely you'll be using a spreadbet company, and all these forex markets need margin.

IG index has a demo account and you can play with £10K (refillable) with main forex pairs. I don't think many people/punters make consistent money as you also have a time factor to play against. With a daily funded bet you'll be paying interest each day that you're in the money - so if you are direction-ally correct you'd better have time on your side. Future contract e.g. February GBP/USD maybe better as there is no interest pay, but your directional bet needs to play out before the end of that contract.

You could pay for a workshop course - this could be a couple of grand though.

The Market Sniper runs courses, he maybe worth a look (not done any of his courses, so not able to recommend). He has a youtube channel and does talk about forex https://www.youtube.com/user/TheMarketSniper/videos

Edited by 201p

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22 hours ago, 201p said:

You need to find a book written by someone who's made a fortune in forex. The only person I might know is PT Jones - but he hasn't written a book yet. I don't recommend going into forex if you are new to trading as you could lose a lot of money in short order.

I don't have much experience in Forex personally only dabbled. It is most likely you'll be using a spreadbet company, and all these forex markets need margin.

IG index has a demo account and you can play with £10K (refillable) with main forex pairs. I don't think many people/punters make consistent money as you also have a time factor to play against. With a daily funded bet you'll be paying interest each day that you're in the money - so if you are direction-ally correct you'd better have time on your side. Future contract e.g. February GBP/USD maybe better as there is no interest pay, but your directional bet needs to play out before the end of that contract. 

You could pay for a workshop course - this could be a couple of grand though.

The Market Sniper runs courses, he maybe worth a look (not done any of his courses, so not able to recommend). He has a youtube channel and does talk about forex https://www.youtube.com/user/TheMarketSniper/videos

Yeah, I signed up with IG and have placed 3 bets with them so far. I have noticed that they require a decent sized margin!

I have found a guy on youtube who appears to be cogent. He trades 28 pairs and tends to run his bets over several days, if not weeks. That sounds like my style. Scalping is probably just something for a bit of fun and not something I would attempt without significant experience in correctly analysing price action. From what this credible source tells me, I think the key to Forex is rigorous and extensive backtesting of combinations of indicators, along with the obvious risk management and discipline.

I have bought your Turtle book, another about one guy's system based on fractals and yet another about MT4 and 5 systems in general. Other than that there are a few reassuringly expensive ones that I have my eye on

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