The only book you need to master trading.

goldenedge

Well-Known Member
#1
I was looking for a book which organizes everything a trader needs to transition from a ignorant beginner to a good professional. I find that most trading books ignore one or many aspects of successful trading.

I stumbled upon this book recently which CHANGED MY LIFE. :thumb:

Name: The Universal Principles of Successful Trading.
Author: Brent Penfold.

You can find the book online but I'm happy to share the book if a lot of people here want me to share.


He starts by explaining why traders fail in the beginning and breaks down the whole trading process step-by-step. Then he talks about money management and psychology.

The most interesting thing I found is that he constantly argues that 'trading methodology' is the doom of most traders and not 'trading psychology' as we all like to think. In fact, he explains it very clearly why methodology is the most important thing for a trader.

So, grab a cup of coffee and read it during this weekend or on Monday.:clap::thumb:
 

marimuthu13

Well-Known Member
#3
Hi
Golden edge, thanks for your suggestion on trading book.

I never ever read any books on trading (though i love reading novels very much), now your posts pushes me to read out trading book.

@ All TJ'ians,

Could all of you please suggest one book from your wish list ( The only book you need to master trading though not possible 100% with only one book but near to 100% with only one book)

the book that you suggests should mostly cover entire aspects of trading so as to serve purpose ( only one book).

so readers can select one book which gets more votes.
 

vijkris

Learner and Follower
#4
Hi
Golden edge, thanks for your suggestion on trading book.

I never ever read any books on trading (though i love reading novels very much), now your posts pushes me to read out trading book.

@ All TJ'ians,

Could all of you please suggest one book from your wish list ( The only book you need to master trading though not possible 100% with only one book but near to 100% with only one book)

the book that you suggests should mostly cover entire aspects of trading so as to serve purpose ( only one book).

so readers can select one book which gets more votes.
yes, Trading is a huge topic/subject. one book covering everything in detail is difficult.
i have seen books devoted entirely to psychology,or risk management etc.
just to learn candlesticks there are so many books.
if at all anyone finds that one book then pls share. thanks.
 

rip07

Well-Known Member
#6
Dear Friends!!

My all time fav book is "Reminiscences of a Stock Operator, by Edwin Lefevre"

It covers almost all aspects of trading. Some time people call it Bible of trading.

One of the best part which I like in this book: when Jesse was waiting for a signal to buy a stock for 6 weeks and he had that only chance to come back with little borrowed money. It paid well, with in 6-12 months, he became millionaire again.----what i learned if you have an Edge, you have patience to wait and have enough confidence to act when that edge/opportunity comes to you, success will be yours.

There are more nuggets. :)

Thanks
rip07
 

goldenedge

Well-Known Member
#9
I prefer to learn Forex Trading manually with the help of Demo Trading, I don't have time to read such stuffs and It also sounds quite boring, and about becoming a master, I believe that practice makes man perfect and that is the only strategy of me.

Yes. It's not meant for beginner traders because they won't understand the book.
 

vijayanscbe

Well-Known Member
#10
Hi
Golden edge, thanks for your suggestion on trading book.

I never ever read any books on trading (though i love reading novels very much), now your posts pushes me to read out trading book.

@ All TJ'ians,

Could all of you please suggest one book from your wish list ( The only book you need to master trading though not possible 100% with only one book but near to 100% with only one book)

the book that you suggests should mostly cover entire aspects of trading so as to serve purpose ( only one book).

so readers can select one book which gets more votes.
I know you dont like to watch the live charts, (learnt from 20k-20lac thread).
When your attitude reversed 100% and if you got interested in every candle's formation. Then I suggest you "Reading Price Charts Bar by Bar: The Technical Analysis of Price Action for the Serious Trader-Al brooks"

There is a saying " Those who can do, Do. Those who cant do, Teach ", This perfectly suits him.

Al brooks is Horrible teacher, RAM in our brain is not enough to read his writing style. He wrote the 1st book, "Reading Price Charts Bar by Bar: The Technical Analysis of Price Action for the Serious Trader-Al brooks". He then rewrite the same book into three books. The later three books are some what better than the 1st.

Still his Book is a treasure mine. If you are interested in every bars of the chart. It worth more than any other books. He completely covered all the scenario of the Price Actions and Tradings Aspects. In one place, he politely explains why the non-trading people relate the trading with Gambling and how the trading differs from gambling is a fantastic part. I steal his words and examples to shut the mouths of my relatives, friends, those who often say its gambling. :lol:

If you put his book for voting , It may score many negative votes. :D.
But that does not show the real worth. I had seen a dedicated thread to curse him for his writing style in other forum. :rofl:

P.S. Title of the book itself says ".... for the Serious Trader" so not suitable for beginners.
 

Similar threads