Can you learn to trade from books? | Page 2 | Crypto Craft

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Can you learn to trade from books?

  • #21
  • Aug 29, 2018 12:17pm Aug 29, 2018 12:17pm
you can learn the fundamentals of trading from outside sources but when it comes to practical trading, it is a completely different beast, which can be learned only through personal experience.
As Above, So Below
  • #22
  • Aug 29, 2018 11:26pm Aug 29, 2018 11:26pm
Quoting JsCave
you can't learn from books or videos or websites and forums only way is through go through way and trade by yourself and doing a lot experiments until you find your successful formula ... trade trade and trade until find something work for you
Yeah... This is the best thing we can do in market! Using our time to gain experience! Just trade.... write down anything you saw on screen.... back test and do it again and again and again! (sorry for my bad english)
  • #23
  • Aug 30, 2018 12:06am Aug 30, 2018 12:06am
Quoting tashkent
you can learn the fundamentals of trading from outside sources but when it comes to practical trading, it is a completely different beast, which can be learned only through personal experience.
I second your opinion. But it's easier to profit from story books for those who talk their walk. Blah.... Beautiful theory and nice story and the end. Hehe

Cheers
  • #24
  • Aug 30, 2018 9:48am Aug 30, 2018 9:48am
Quoting deltaROYAL
I think one should definitely read books and refer online articles, tutorials and videos in order to expand one's area of knowledge in forex trading. You could also possibly enlist the help of fellow experienced traders and learn from them. However you'll notice biggest progress and improvements when you put all these learnings to application and start trading by yourself on demo/live accounts
I think so too. There is a wealth of information on the Internet about trading, but reading it is only the first step. Putting it to practice is the second.
  • #25
  • Aug 31, 2018 8:08am Aug 31, 2018 8:08am
Quoting dianajs
{quote} I think so too. There is a wealth of information on the Internet about trading, but reading it is only the first step. Putting it to practice is the second.
I'll have to agree with that too. Reading books alone will serve no useful purpose unless we test our skills practically which is more challenging and rewarding.
  • #26
  • Sep 17, 2018 7:11am Sep 17, 2018 7:11am
Quoting scalpboss
{quote} I'll have to agree with that too. Reading books alone will serve no useful purpose unless we test our skills practically which is more challenging and rewarding.
The purpose of learning any theory is to use it in practice after all. Try to learn something new every day, if you have questions that's what forums are for.
  • #27
  • Sep 18, 2018 1:11am Sep 18, 2018 1:11am
Quoting GGekkoGreed
I was just thinking about this... but where do MOST people learn to trade? Surely not these internet gurus selling courses for _____. Are books the best way to go? I was reading one where it said traders fail cause they don't invest in trading education... so what do you guys think is the best route?
The best route is self.practicizing. learn a book an try on demo. Will not work, of.course. You shall practice on your own to learn a.lot.of.things wich derive from books. After a lot of time you will have some knowledge.
Money moves the market, not an indicator.
  • #28
  • Sep 18, 2018 2:06am Sep 18, 2018 2:06am
Sometimes books are not worth. I started trading after I study in free pipsology course which is pretty organized and helpful.
  • #29
  • Sep 18, 2018 2:16am Sep 18, 2018 2:16am
Quoting ProPactor
Sometimes books are not worth. I started trading after I study in free pipsology course which is pretty organized and helpful.
Yes, BabyPips School is very much helpful & it’s free! I have also used this in my initial stage of trading.
  • #30
  • Sep 18, 2018 2:23am Sep 18, 2018 2:23am
Read a playbook in football, can you, then play football? I think not!
Learn, a forex trader must, unlearn and relearn he will.
  • #31
  • Sep 18, 2018 3:03am Sep 18, 2018 3:03am
Quoting GGekkoGreed
I was just thinking about this... but where do MOST people learn to trade? Surely not these internet gurus selling courses for _____. Are books the best way to go? I was reading one where it said traders fail cause they don't invest in trading education... so what do you guys think is the best route?
In my humble opinion ,,, Learning can done from anyone .
Books , bits and pieces one can pick up from different educators , other traders , ect ect.
But i believe the most important part is this ,,,,,
One MUST make everything they learn their own ,,, and must test everything to make sure there is consistency in every way they follow ,, and the higher the consistency the better cause it will help in many ways and especially psychology .
A good way to go about building one's self as a trader is ,,, ELIMINATE what does NOT work and has NO consistency immediately ,, as it will speed their progress greatly .
Mastery can be achieved in anything in life ! ! ! !
Cheers
LOVE YOUR GAME WITH A PASSION ,,,,, WORK WITH A VISION ! ! ! ! !
  • #32
  • Sep 18, 2018 3:10am Sep 18, 2018 3:10am
I began trading when the only way to gain an insight too trading was via books. The internet had not been invented at that time. My first book was Murphys Technical Analysis of the Futures Market. It gives a great overall view of technical analysis though will not make you a trader.

What must be realised is that one book attracts you to another book and before you realise it you have spent a fortune on books and yet you are still not a successful trader. At this time the internet guru is nothing more than a book guru using modern media.

So after all of the general book/internet study, you then need to select a prefered method and here I feel qualified to say the holy grail as yet has not been unlocked.

If I were starting my studies again I would choose Wycoff's approach, why because it is, in my opinion, a complete long-term strategy. This latter point is based upon my hindsight.

I understand that a university in the states runs a course on Wycoff which is perhaps the best education you might get on the topic.

May I suggest you make use of youtube and search for Richard Wycoff or perhaps other methods you have heard of. Do not be seduced into buying courses take your time when choosing an approach as this will affect your trading life.

Good luck
Nut
  • #33
  • Edited 5:34am Sep 18, 2018 3:45am | Edited 5:34am
Quoting Nut
I began trading when the only way to gain an insight too trading was via books. The internet had not been invented at that time. My first book was Murphys Technical Analysis of the Futures Market. May I suggest you make use of youtube and search for Richard Wycoff or perhaps other methods you have heard of. Do not be seduced into buying courses take your time when choosing an approach as this will affect your trading life. Good luck Nut
Oh oh oh ,,, what memories have you brought back to me nut hahahaha
Yes and we used to draw charts on the old graph papers ,,, what great days they were ! ! ! ! . and not to mention ,, we had to wait till the end of the day to get the days open / close/ high / low to mark the daily bars on our charts hahahaha
If only the new comers appreciate how much easier it is now days to get going in this game with the help of youtube and also there are many traders around who are more than happy to help them.
If there is one advise or suggestion i can bring to the table of this thread is ,,,
One should open up a naked chart and try to understand WHY each swing is there ,,, WHY it has stopped there and turned ,,,
If they only open their eyes and look left ,, the clues are all there on every chart .
Thank u for a great reply .
Cheers
LOVE YOUR GAME WITH A PASSION ,,,,, WORK WITH A VISION ! ! ! ! !
  • #34
  • Sep 18, 2018 3:53am Sep 18, 2018 3:53am
In a nutshell, only partially.

Trading, like other human activities that do not inherently require an innate gift, is a learned skill. How do you become a doctor, for example?

You get educated on the subject via books and tuition, then you go and practise until you get the hang of it, and finally you acquire experience and expertise over time. Trading is really no different.

The difference is that wannabe doctors have access to plenty of high quality books and teachers on the subject; whilst, unfortunately, much of the stuff written and teaching offered for retail traders is complete rubbish, and often just a scam.

So you have to be choosy. Read widely on trading but take it all with a large pinch of salt. Pick out what makes sense to you and use it to develop a method that suits you and contains a definite edge. And remember the emotional and psychological aspects of trading are equally important as the technical details of trading. Then practise, practise, practise in demo or tiny size until you get really good at it. Only then think about trading with proper money.
  • #35
  • Sep 18, 2018 4:22am Sep 18, 2018 4:22am
Quoting George AUS
{quote} Oh oh oh ,,, what memories have you brought back to me nut hahahaha Yes and we used to draw charts on the old graph papers ,,, what great days they were ! ! ! ! . and not to mention ,, we had to wait till the end of the day to get the days open / close/ high / low to mark the daily bars on our charts hahahaha If only the new comers appreciate how much easier it is now days to get going in this game with the help of youtube and also there are many traders around who are more than happy to hep them. If there is one advise or suggestion i can...
Thinking about it perhaps paper charts may well be a good place to start trading.
  • #36
  • Sep 18, 2018 4:37am Sep 18, 2018 4:37am
Books will not give you an edge or winning system.
They may guide you along your journey to finding and edge.

Trading is personal.. you need to find out what works for you!
What time frame, what time of day... your performance around trading news events
your leverage, the tools you most identify with...

All that will someday be in a system you designed based around your personality.

Babypips is a good place to start your journey.
They try tons of different systems.
You will fail at these systems, but gain knowledge.
One day you will find what works for you!
The only system that will work is one designed by and for yourself.
  • #37
  • Sep 18, 2018 5:17am Sep 18, 2018 5:17am
i learned my first year trading from book. And it didn't end well. What makes me better? practice, sharing, reading other master guru experience, and of course, no crap broker.
Book is good start, we just need practice, and cases.
Profit growth tells you the trader ability.
  • #38
  • Edited 6:01am Sep 18, 2018 5:21am | Edited 6:01am
Books can help, you should learn and make its yours. Execution is more important than strategy. You are not going to learn execution from books.

If you're looking to make FX a long term business learn to code, it will take you a long way.

If you still looking for strategies, start to learn coding now, by the time you find your place you will be a good coder too (time well spent).
One Good Trade
  • #39
  • Sep 18, 2018 5:38am Sep 18, 2018 5:38am
Quoting Oldtraderman
In a nutshell, only partially. Trading, like other human activities that do not inherently require an innate gift, is a learned skill. How do you become a doctor, for example? You get educated on the subject via books and tuition, then you go and practise until you get the hang of it, and finally you acquire experience and expertise over time. Trading is really no different. The difference is that wannabe doctors have access to plenty of high quality books and teachers on the subject; whilst, unfortunately, much of the stuff written and teaching...
Thank you for a beautifully summed up words . that is exactly my theory and thought on how to approach this business or any other business for that matter
I just wish some traders will take all of that onboard ,, cause wisdom like this is like gold nuggets .
Cheers
LOVE YOUR GAME WITH A PASSION ,,,,, WORK WITH A VISION ! ! ! ! !
  • #40
  • Sep 18, 2018 5:41am Sep 18, 2018 5:41am
Quoting Nut
{quote} Thinking about it perhaps paper charts may well be a good place to start trading.
Aaaaaabsolutely ! ! ! !
There was a special magic to drawing charts by hand
I always say to new traders when i talk to them ,,,
do NOT be lazy ,,, mark things on ur charts and not just look at them visually ,,, because when the hands do things ,, it tends to sink in alot deeper and longer .
Cheers
LOVE YOUR GAME WITH A PASSION ,,,,, WORK WITH A VISION ! ! ! ! !
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