[jolee]

Originally Posted by MINTED »

Hi Hal (and others who kindly posted replies)

Hal, are you saying that xxxx for Dummies and other such "food", are worth reading OR not?

As for the others who asked.........I am a complete trading Virgin. I am lucky enough to have time on my hands, as my good lady wife works. I want to trade short term (one day upwards). I want to make it a full-time "project", with a view to making an income...... (target $50,000 a year, to begin)

As far a books etc....it seems in even the small replies so far, most have mentioned the so called "classics", whilst others have mentioned ones, I never heard of. A case of, "ask a 100 people" and get 100 different answers.

The book that is difficult to find.....is it the same as "The Day Trader's Bible - Or My Secret In Day Trading Of Stock" ??

Again thanks guys / girls......I want the popping of my cherry, to be memorable....not just a quick fumble!!

Appears that you want to learn how to trade quickly and to earn quickly also - so here's my suggestion. Read those books/items the OP recommended to get some understanding of the market. But don't have that limiting mentality of 5 books a few websites etc. In the future, explore whatever trading books (library books are free)/websites out there. After a month or 2 of reading/exploring go and explore trading. Since one can't learn to ride a bike or fish by reading a book, same with trading. So open some practice accounts - go and trade, invest paper account. forex, options ,futures, eminis- short term, daytrading, swing trade. Go join some trial trading rooms theres alot out there(usually a month for free). You find out the time commentment and work required real time. YOu find out where you're lacking and what you need to learn. Maybe you like it , hate it , or love it, or its not for you since it is a life style. YOu get to choose. You personally will find out how it might be and what kind of trader you prefer to be. Boils down to - "Must do the work!" After you find out what kind of trader you like to be , then the next step is learn how to be that successful trader - by defintion , a profitable trader. By this time you certanly will know which books will be pertinent for you.

[DbPhoenix]

Originally Posted by MINTED »

I am a complete trading Virgin. I am lucky enough to have time on my hands, as my good lady wife works. I want to trade short term (one day upwards). I want to make it a full-time "project", with a view to making an income...... (target $50,000 a year, to begin)

How "complete" a trading virgin are you?

Do you know what a stock is, what it represents?

If so, do you know how the price of a stock is determined?

If so, do you know why the price of a stock goes up and down?

If so, do you know why stocks suddenly reverse and take off in the opposite direction?

Do you know what a broker is? If so, do you know why he is necessary? Do you know what commissions are?

Do you know what "slippage" is?

If you don't know or are uncertain of the answers to any of these questions, I suggest you postpone the sophisticated and philosophical stuff for later.

At the bottom of the page I linked to in my last post, there are two books which I recommend to "complete virgins": The Wall Street Journal Complete Money and Investing Guidebook and/or Standard and Poor's Guide to Money and Investing. If and when you understand what's in these books, you'll be in a position to move from A to B.

[MINTED]

If I never even attain marginal profitability.........wha t¨s the point then? Perhaps "income" was the wrong word.......a yearly NET profit, would be nice

[MINTED]

NOW were cooking...........thank you

[HAL9000]

Minted,

while you are cooking

Here is one more from me, that I have read some days ago,

its not a novel like Reminiscences,

its much more like the testament of J. L. Livermore by himself.

He writes about what he has learned during his life.

He shows his system and I think that he describes the sequences of
HL, HH, HL, HH, LL, LH, LL in his system. Very basic.

So I am not praying his wisdom here, but ... maybe you decide to start
to read his things.

This book is called "How to trade in stocks; The Livermore Formula for Combing Time Element and Price" by Jesse L. Livermore.

Well, and to give you an impression here is a thought about
investors and speculators from the 1940 edition, or so.

I know, I am overshooting once more, but I like it.

Forgive me.

Please?

[MINTED]

Well, found a copy for you all