Books to get educated in Share Trading - Aussie Stock Forums

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  1. #1

    Default Books to get educated in Share Trading

    Hey All,

    I am new here, I am looking to become educated in learning how to trade shares in the ASX and possibly later on in the future on the Dow and Nasdaq.

    Firstly I have gone through the forum to see what books have been recommended by other users I just want to confirm and also be recommended a book for someone that has no idea about share trading I do owe shares which was given to me as a gift 10years ago. A little about myself I have been in the construction industry for nearly a decade now so I do have the patients and determination to become educated and succeed.

    From my self awareness I do not have much knowledge in Share Trading, I need to learn everything a newbie needs to know. So I purchased my self the following books.

    - James Dunn Getting Started in Shares for Dummies.
    - Jack Guinan Investopedia - Guide to wall speak.
    - ASX Website Freecourses

    These are the only 3 resources I have at the moment, What is vital for a beginner to read and learn.

    What other books are great for a someone that has noidea about share trading ?.

    Is Daryl Guppy - Share Trading a great book for newbies?. I am looking for a book that can teach me the nuts and bolts of it all from reading FA/TA, Financial company reports... etc..

    Thanks in advance

  2. #2

    Default Re: Books to get educated in Share Trading

    I enjoyed 'trading for a living' by elder which teaches money management and psychology.
    Intelligent investor was a great fundamental book.
    Profiting in bull and bear markets was quite interesting but I'm not sure if the markets work like they did in the 80s with old school patterns. I couldn't understand anybody the markings in his charts due to the low dpi printer they used for that book.

    Read unholy grails which teaches momentum trading and adaptive analysis which focuses on Elliot waves. So far prefer the first two books mentioned in this post.

  3. #3

    Default Re: Books to get educated in Share Trading

    Thanks I'll add Alexander Elder - Trading for Living

    Is there any beginneer share trading books also have examples or quizzes at the end of the chapter ?.

  4. #4
    The Contrarian Averager So_Cynical's Avatar
    Join Date
    Aug 2007
    Sydney - Muntinlupa

    Default Re: Books to get educated in Share Trading

    This is left field but i can recommend "the Lexus and the olive tree" keeping in mind that it is written in 1998 (hindsight) but very informative fundamentally.
    Statistics: 172 Closed Trades since July 07, Trades: Winners 135 - Losers 37, Expectancy/$1 Risked: $0.78

  5. #5

    Default Re: Books to get educated in Share Trading

    Just wondering do I need to do any courses in the following:
    1. Economy
    2. Accounting/Financing

    Or do I just need to learn the basics of the above?.


  6. #6

    Default Re: Books to get educated in Share Trading

    You dont need to learn finance or economics to trade. I mean it helps to know more but depends on what kind of trading you want to do.

    Read Jesse livermore book probably the best book ive encountered to learn about the trading world or got me interested. Trading is not for everyone and a very very hard business to get into.

    If you are thinking of making an income from trading, DONT. You should never take out your wins from your trading account or you will never grow your fund.

    Basically you have to find out the way you trade, be a scalper or a portfolio manager, honestly you need to be both depending on volatility. Not so much on scalping but day trading when volatility is too high to take advantage of the market and make more money.

    You will always lose money as well so you need great discipline. Hope this helps!

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