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Those commercials have been on for several years. Almost every recommendation
has been a loser. Like heating oil last year. They really know how to press the
uninitiated's greedy button though. Ira
Terry S. Smith wrote:
> Mark Douglas The Disciplined Trader should be the first book for him to
> read. He will likely feel because he was successful in his prior business he
> can automatically transfer that into the trading environment. WRONG. In an
> unstructured environment where anything can happen he will need to have the
> proper mind set so that he does not do Financial and psychological damage to
> himself. Any of my friend who ask me how to break into trading (like there
> some head honcho they need to talk to for getting hired) I tell them to work
> on themselves first then find a trading method and market that fits their
> psychological makeup. The fact he is letting a Television commercial dictate
> what kind of market to trade really sets off some red flags.
> -----Original Message-----
> From: cb <cpbow@xxxxxxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Date: Sunday, October 25, 1998 5:10 PM
> Subject: Re: GEN: books on currency
>
> >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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