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Joe Frabosilio wrote:
>
> Hello everyone,
>
> A friend of mine wants to trade the yen. I had recommended that he read
> Schwager on Futures. Are there any other books that I should have
> recommended to him? He is a real beginner to any type of trading. He
> got caught up in the hype from a Television commerical and from a couple
> of brokers that he had called.
>
> Thanks for your time and effort,
> Joe Frabosilio
"Elements of Successful Trading" by Rotella.
"Winner Take All" by Gallagher
These are not books on currencies but very valuable to a "real
beginner". The first is a very broad intro to futures, options, tech.
analysis, and $mgmt. The second is a book full of warnings and also a
good non-mathematical *illustration* of $mgmt.
You also might try to de-hype him as much as possible. Speaking from
experience, I think very few beginners have really taken to heart the
concept of drawdown, what a gap move might do to them, etc. This is
probably true even when the data is at least in part in front of them,
and you can assume that the TV ads didn't talk much about that!
Conrad Bowers
been a beginner for 3 yrs. now..... :|
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