vanathi

Newbie's Corner!

Education
NSE:CNXPHARMA   NIFTY PHARMA
One of the frequent question traders ask me is what books to study to trade better. How to be successful in trading. First step to get success in any field is gaining knowledge. I am sharing the information about the books I studied. It is said that people who think they are brilliant, have high IQ level got beaten up by share market. The reason behind this is very simple. High IQ person try to prove he is right all the time and the market very easily prove him that he is wrong. So when you start to study books related to share market consider yourself as an average IQ person who have to work hard to get success.
First book is "Technical Analysis Explained" by Martin J. Pring. When my mentor asked me to study this book, he said when you understand Dow theory you can trade well. So I thought to understand Dow theory's 6 tenets will take few minutes and to get example charts take another few minutes. I can use Dow theory next day in my trade. But it was not that simple. Applying what we learnt in charts takes time. Then only we can apply it in our trades. To be frank I am still understanding Dow Theory. So dont worry if it takes time to apply what you study in your trade. Second book is "Trading for a living" by Alexander Elder. Third book is "Complete guide to Volume Price Analysis" by Anna Coulling. Fourth book is "Japanese candlestick charting technique" by Steve Nison.
When you start studying, go to next topic after understanding what you studied so far. After getting success in trading also read these books when you get time as the book always gives knowledge depending on your perception. All the best!

Comment: Newbie's, I would appreciate if you ask your queries in comments instead of PM. Thank you!

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