Books that I recommend for the beginner

Last post 06-02-2008 8:56 PM by thunder_alaska. 9 replies.

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05-09-2008 4:40 PM

birdseed
Joined on 03-17-2008
Posts 35

Books that I recommend for the beginner

I started stock trading only several months ago when I was forced to learn how after inheriting an IRA full of stocks. I am in the health field and had never traded a stock in my life and did not even know what bid vs. ask was when I started. I found that the "Dummies" books were excellent, VERY basic for the beginner. They cover charting, trading strategies, brokerages, fundamental analysis, exchanges, taxes- but in basic beginner fashion. I have to admit I STILL refer back to sections occasionally and have found that the more I have learned, the more information I get each time I re-read them.

DAY TRADING FOR DUMMIES (excellent)

STOCK INVESTING FOR DUMMIES (excellent)

FUTURES AND OPTIONS FOR DUMMIES (I don't trade these yet, but found it is very important to understand how these also effect your stock price when a headline comes out stating "large short volume" or high put vs. call volume)

ECONOMICS FOR DUMMIES (really helps you anticipate and understand how economic news will impact your stock price, because it is all more intertwined than you think).

I have also moved on to "The intelligent investor" by graham. Also VERY good, though some parts are dated. This is the basic strategy that Warren Buffet learned while working with Mr. Graham.

I continue to read and will post more books that I have found helpful. I also credit this site for helping me learn and practice before I began trading my real stock. I started the last game one month before it was over (in March) and worked my way to the top 100 players- so I believe in the basics that these books have taught me.

THanks again to this site! I tell everyone I know about it! Good luck to all.

05-09-2008 5:16 PM In reply to

trader4747
Joined on 01-05-2008
Posts 480

Re: Books that I recommend for the beginner

THANKS VERY MUCH FOR THE INFO IT COULDN'T HURT TO READ SOMETHING ON THE BEGINNER'S OF WALLSTREETERS &TRADERS,,I MIGHT EVEN MAKE SOME MONEY FROM THE KNOWLEDGE I LEARN FROM THE BOOKS

05-10-2008 3:42 PM In reply to

StockItToMe
Joined on 05-09-2008
Posts 112

Re: Books that I recommend for the beginner

This is my second day on the WSS site, and the only thing I know about stocks and trading is that they exist. I just asked a question about books for the ABSOLUTE newbie. Those books sound as though they will be excellent for me. Thanks so much for sharing. :-)

05-10-2008 3:56 PM In reply to

vandelay87
Joined on 03-18-2008
Posts 11

Re: Books that I recommend for the beginner

Anything by Dr. Alexander Elder is worth a read. My fav is "Come into My Trading Room".

05-19-2008 4:52 PM In reply to

birdseed
Joined on 03-17-2008
Posts 35

Just finished this book and thought others might enjoy!

5/19/08 Just finished reading:

STOCK MARKET WIZARDS by Jack Schwager. I sort of thought this might be stories about "get rich quick" tricks that these folks had used and I was a bit skeptical (it was a gift), but I was pleasantly surprised. It was a very good read about real people who started in the stockmarket from all backgrounds (high school dropout to immigrant to MBA's). There are about 20 stories and detail how they got started (each ended up with their own hedge fund), how successful they were or weren't. One of them even played virtual games similar to "wall street survivor" for two years (with great results) before starting in the real market. The book covered some of their biggest mistakes and also went into each of their own personal investing rules. Interestingly they all are very disciplined and most recommend cutting your losses ASAP and not sitting on them, watching for low priced value stocks, and they all do a lot of research. Each story is done in an interview style and most were very open and honest in their styles/mistakes. The trading styles varied from options, stocks, shorting only, arbitrage- so it is a good mix of stories. I do recommend you have a basic understanding of all these terms before reading the book (read one of the "dummies books first if you are just starting out). I only have a basic understanding so far as I also am new at this, but I found this book to be full of useful advice.

05-21-2008 12:44 PM In reply to

CrissyEG
Joined on 01-22-2008
Posts 25

Re: Just finished this book and thought others might enjoy!

Thanks for the advice on the books. It is definately worth looking in to.

05-23-2008 9:13 PM In reply to

salescatcher
Joined on 05-09-2008
Posts 73

Re: Books that I recommend for the beginner

Thank you very much....I am off to my first book!

05-28-2008 6:33 PM In reply to

wsspstock
Joined on 05-28-2008
Posts 749

Re: Books that I recommend for the beginner

Thank you for the books recommendation.

05-29-2008 5:39 PM In reply to

WindInSails
Joined on 03-25-2008
Posts 63

Re: Books that I recommend for the beginner

Peter L Bernstein's Against The Gods is about risk. It's a good read if you can stand his style of writing. But, if you can make it through the book, you'll have a better understanding of risk management. Statistics tell a story that can be advantageous to account health. And as an aside: the Internet is based not only on code writing, look at all the stats collected by the codes. Why do they do that? Collecting stats is good for making money and, just maybe, winning a contest.

06-02-2008 8:56 PM In reply to

thunder_alaska
Joined on 05-05-2008
Posts 348

Re: Books that I recommend for the beginner

Thanks for the info

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