Do one need to read books before entering market?

pakatil · #11 22nd October 2007, 07:53 PM

I think Paper Trading is good for learning, but is devoid of Euphoria of Gains or Panic of Losses which are very much part of Real Trading. My suggestion would be to Trade in very very Tiny quantities to learn the tricks of the Trade. I am Trading like that since one year, have restricted the losses and hopefully sunny days will come!!!.

Cheers
PAKatil

karthickdoss · #12 23rd October 2007, 09:50 AM

I somehow don't believe in Paper trading. This is totally my experience. During paper trading days, everything worked well for me, bcoz money was not involved and my emotions were in control.But, once real money gets into the scene, Greed and fear (driving the market) drives you. Take a position, and you look for news supporting your position. It never helped me.
I would suggest loan a good amount to withstand bad weather and trade with strict stoploss. Look for ur kind of stocks which moves very little. Initially, it is ok if you dont make any profit but you shouldn't make losses also.. Many trades with strict stoplosses and entering a position after a long thoughtprocess will help. Analyse few stocks , know their levels and then enter the market.
Wish you happy and profitable trading.

Jason Bourne · #13 23rd October 2007, 09:50 AM

One of the best books would be 'Investing for dummies' from the popluar dummies series.
some other great books are 'The intelligent Investor' and 'Security Analysis' both by Benjamin Graham.
These are books that delve more on FA.

Bourne

amarnath · #14 23rd October 2007, 09:57 AM

Quote:

Originally Posted by karthickdoss

I somehow don't believe in Paper trading. This is totally my experience. During paper trading days, everything worked well for me, bcoz money was not involved and my emotions were in control.But, once real money gets into the scene, Greed and fear (driving the market) drives you. Take a position, and you look for news supporting your position. It never helped me.
I would suggest loan a good amount to withstand bad weather and trade with strict stoploss. Look for ur kind of stocks which moves very little. Initially, it is ok if you dont make any profit but you shouldn't make losses also.. Many trades with strict stoplosses and entering a position after a long thoughtprocess will help. Analyse few stocks , know their levels and then enter the market.
Wish you happy and profitable trading.

Scared money never wins

rajnisharma · #15 30th October 2007, 07:37 PM

Hi all,
I thank you all for your valuable experience.
Though every one has his/her own idea and strategy, I could not risk to put my hard earned money in market for trial purpose. Tried paper trading too, but it was more like speculation.
Anyways, Dinkerj, I visited the site you suggested- http://cfaworld.ecrater.com/

There are many books. I got little bit confused, then remembered your suggestion. Finally spent $10

and bough technical Analysis of the Financial Markets by John J. Murphy

Dont know if you guys have seen the book. Its really thick. Do I need to go thru all the chapters?

I Thank all of you again, and special thanks to dinkerj.

oilman5 · #16 26th December 2007, 07:09 AM

key word is not book...........BUT ACQUIRED KNOWLEDGE
SOURCE MAY BE BOOK.......
MAY BE SELF.......SMALL ACTUAL........TRIAL PLAY
LEARN FROM MENTOR
.......OR GREAT MOTHER........MARKET
purpose is to change u.......to suit u with market
to find oppurtunity and execute it right to earn on continuity basis is not that easy.
...........
read .......phantom of pit