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You can't cheat an honest man, W.C Fields said that
-----Original Message-----
From: Ira <ist@xxxxxx>
To: tesla@xxxxxxx <tesla@xxxxxxx>
Cc: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Monday, October 26, 1998 9:29 AM
Subject: Re: GEN: books on currency
>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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