First investment: books?

Hi all,

I want to get started in share trading. I m a complete novice, so Ive purchased the ASX trading book to get up to speed with terms and what not, and booked myself into the beginner trade seminar session Macquarie is holding later this month.

I m interesting in trends and the maths: I have a maths background from Uni that I would like to use. Ive done some basic research and have come up with a couple of titles, I was wondering what people thought about them.

First involves the Elliott Wave principle or something like "Sell and Sell Short" by Alexander Elder. I would like to model something, both books have reviews saying they are great for beginners and involve some models, but I m really unsure which I should be reading (first or at all). I was just going to go out and purchase the latter, but at almost $100, I would be interested in hearing what people thought.

Apologies if Ive used the wrong terms some where, Ill learn quickly

Beams said:

I was just going to go out and purchase the latter, but at almost $100, I would be interested in hearing what people thought.

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If you are buying any books then go here, type in the title and search, it will save you $$$ (in the case of the one you mentioned about $44)
http://www.booko.com.au/books

That's my only input, others on here will help with the rest.

Beams said:

Hi all,

I want to get started in share trading.

Apologies if Ive used the wrong terms some where, Ill learn quickly

Click to expand...

When I saw that the title asked about investing books I was going to suggest a good one. But then I read that you were actually asking for books on trading not investing.

Remember that Investing and trading are two completely different things.

Trading for a living and technical analysis of the financial markets are 2 good books on trading.

Hi Beams,

I believe that the best trading books/courses are the ones written by people who trade successfully. (The Gurus)

To become a better trader, I look for authors with a similar temperament and trading style to myself. I’ve noticed that I tend to stick with a Guru with similar beliefs to myself when it comes to the stock market.

I write down their entry rules, exit rules, and money management rules provided in their material. Then I “test” their rules on paper to see if they work for me. This needs to happen before I even think about committing real money. Later on, I may decide to adapt their strategies to suit me.

Beams said:

Hi all,

I want to get started in share trading. I m a complete novice, so Ive purchased the ASX trading book to get up to speed with terms and what not, and booked myself into the beginner trade seminar session Macquarie is holding later this month.



First involves the Elliott Wave principle or something like "Sell and Sell Short" by Alexander Elder. I would like to model something, both books have reviews saying they are great for beginners and involve some models, but I m really unsure which I should be reading (first or at all). I was just going to go out and purchase the latter, but at almost $100, I would be interested in hearing what people thought.

Apologies if Ive used the wrong terms some where, Ill learn quickly

Click to expand...

Beams.
If you are a novice you will not regret buying "Sell and Sell Short"
It will give you a complete coverage on how to start trading and will help get the win ratio up. It also covers "grading" you entry, exit and trade.
He covers the "gap between price and value".
You can start with this excellant book and branch out from there.

Re- Elliott. Go to site and get free down loads.
Remember with Elliott you only need a basic understanding of the 5 basic wave structures. You will then get an understanding of the waves you trade and the price target.

I have read the book. A mate and I have most of Elders books. Excellant stuff.

Cheers.

Van tharps ' trade your way to financial freedom', was a real eye opener for me...
if you can get your head around it ,..think about the market differently