6 Must Read Books for the Beginner Investor

| Tuesday, 8 April 2014 11:52
1
10189
number of times this post has been viewed

Whether you’re a social investor, or a beginner trader braving the markets all by yourself, it’s always best to come at the markets knowing what to expect and how to handle the situations that can arise.

The following list contains books that are highly recommended both for beginner and for advanced investors who wish to expand their knowledge of the financial markets. And even if you are only copying other investors, these books can give you the tools to analyze and manage your Copy Trading activity in more precise and sophisticated ways.

So get your reading specs on, and let’s go!

Book of ideas

Currency Trading for Dummies – by Mark Galant and Brian Dolan

This is probably the best currency trading book for beginners. Overall, this book gives an accurate overview on how the currency market operates, including a good grounding in technical analysis, and some valuable tips on practical matters of trading, which you can apply to virtually any market out there, including commodities, indices and stocks.

Day Trading and Swing Trading the Currency Market: Technical and Fundamental Strategies to Profit from Market Moves – by Kathy Lien

This is an excellent instructional book on the fundamentals of day trading and swing trading in the currency markets. The book offers a very concise explanation of how to prepare for the trading day and lays out the basics of technical and fundamental analysis in simple layman’s terms.

The Complete TurtleTrader – by Michael Covel

In this gripping book, author Michael W. Covel tells the account of a team of newbie traders who were taught and led by one extraordinary man, Richard Dennis, to incredible success. Dennis made a bet with his partner, that anyone could be taught to become a successful financial trader. This amazing book follows the story of the 23 “Turtles” and with it explains some invaluable strategies for making money in the financial markets.

New Trader, Rich Trader: How to Make Money in the Stock Market – by Steve Burns

This is a must have for beginner/intermediate investors as it covers all the basic trading techniques and lists the various pitfalls that beginner traders need to avoid. The difference between Burns’ book and many other texts on similar subjects, is that here the useful tactical knowledge is transmitted in the form of an easy to digest imaginary narrative featuring the characters of New Trader and Rich Trader.

Monster Stocks: How They Set Up, Run Up, Top and Make You Money – by John Boik

This book focuses on stock trading, specifically on how to predict the next “monster stock” such as Google or Apple. According to Boik, identifying even just one such breakout stock is enough to make a fortune in the course of a year, and this book is supposed to give you the tools to identify these stocks before they shoot up sky high.

A Trader’s First Book on Commodities: An Introduction to the World’s Fastest Growing Market – by Carley Garner

As you can probably tell from the title, this is an introductory book to commodities trading. The commodities markets have their own set of rules and are the most sensitive markets to supply and demand forces. Garner’s book delivers valuable lessons that the author herself had to learn as a long time commodity trader, and packages them for investors approaching the commodities market for the first time.

All of the above books are bestsellers that should be readily available at the bookstore or electronic marketplace near you.

Do you have any other book recommendations? Go ahead and share them with us in the comments below!

Note: Past performance is not an indication of future results. This post is not investment advice. CFD trading bears risk to your capital.
| Tuesday, 8 April 2014 11:52
1
10189
number of times this post has been viewed
1 comments
Maverich
Maverich

"The Complete TurtleTrader" intrigued me...


Another very good book is "Liar's Poker" by Michael Lewis.