Stock Market Trading For Beginners - Best Trading Books

Stock Market Trading For Beginners - Best Trading Books
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    - [Instructor] In this particular video I'll
    be answering three most common questions asked
    by beginners in stock markets.
    So these questions are number one,
    how to become a successful trader in stock market.
    Number two, how to get started in stock market trading.
    And number three, how to become a full time trader.
    So I've given a compilation of 10 books
    that you need to read just to get started
    and I've explained the importance of each book in the video.
    So let's get started.
    ( music)
    - [Announcer] In this channel we talk about trading,
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    - [Instructor] So in this particular video
    what I have done is, I have focused on three main components
    that are required to become successful trader
    in stock markets.
    Number one is technical knowledge, that is technique.
    Number two is money management,
    and number three is learning trading psychology.
    So I have divided this entire video into three segments,
    there are some books which will focus just on technique,
    there'll be some books that are focusing just
    on money management and I have books
    that will focus on psychology.
    So in case you're a new trader in the market
    or let's say you still haven't made it to the highest level,
    this is actually a good place to begin with.
    I will divide this video into many parts
    because there are much advanced books as well
    and I'll cover those books in separate video.
    So the kind of books that I've selected,
    there are very easy to read
    and whatever technique you learn is very easy to implement.
    And this is precisely going to add tremendous value
    to your learning curve.
    So the first book that I have short listed is,
    Technical Analysis of Financial Markets by John Murphy.
    Now, in my opinion this is bible of technical analysis,
    you should definitely be reading book because
    this book alone will increase you knowledge leaps and bound.
    And the best part about this book is that
    it starts with basic introduction of technical analysis
    and then moves towards various form of charts.
    Then it mentions about trend, that is trend trading
    and various patterns in the market.
    It also covers topics such as candlesticks,
    point and figure, Elliott waves.
    There's also a section on market profile
    and then it moves to covering various indicators
    and even market breadth chart in detail.
    Now, breadth chart is something that I share
    on a regular basis, so you will kind of relate where
    the concept of breath chart, I have picked up from,
    when you start reading this book.
    There is also a special section dedicated
    to intermarket analysis and relative strength.
    Again, I've done a complete series
    on relative strength.
    It's must watch a video because relative strength
    is one topic which is not covered widely as such.
    And intermarket analysis again,
    is a wonderful topic because it shows you the linkage
    between equities, bonds, currencies,
    and other asset classes.
    And by the time you will come to the end of this book,
    this book will also cover money management and risk
    in detail and do a read the chapters on moving averages,
    trendlines and time cycles.
    So the next book that I've selected is,
    How To Trade In Stocks by Jesse Livermore.
    So the commentary in this book is given by Richard Smitten.
    Now this is a wonderful book about the life
    of Jesse Livermore and his stock market trading career.
    This book basically teaches you his thought process,
    the mistakes that he has committed
    and how you should avoid those.
    It's actually a blend of technical knowledge,
    money management, and trading psychology.
    You cannot categorize this book as purely technical book,
    but it introduces you to some wonderful
    concepts of following leaders, that is momentum.
    The concept of sister stocks,
    which I have discussed many times.
    Again, I've picked up this concept from this very book
    and it teaches you a lot of things about money management,
    being humble in market,
    about importance of listening to the market
    and not forcing your will on it.
    And it also emphasizes a very important point
    that markets have not changed that much,
    let's say from 1940s or '60s or '80s or '90s.
    The kind of market that we're living into right now,
    yes, news is discounted pretty fast, but other than that,
    human psychology remains the same.
    This is something you will realize when you read this book
    because a lot of the events that have been discussed
    in this book happen even in this era.
    So again, it's a wonderful book,
    one of my all time favorite books
    and I've read it many times, so do give it a read.
    The next book is again by John Murphy.
    Now this book is called The Visual Investor
    that is How To Spot Market Trends.
    Now this is more or less a investments sort of book,
    but all the principles that are discussed
    here apply to trading as well.
    The beginning of this book is really nice
    because it focuses more on technical analysis
    in current times, that is,
    some sort of changes have happened in the market.
    This book covers most of the aspects.
    There is also a wonderful chapter on moving averages
    and MACD indicator, do read this.
    This book also discusses a lot about relative strength
    and sector rotation.
    This was actually not covered in great detail
    in John Murphy's first book that we covered,
    but in this particular book he has covered this
    along with a section on mutual funds and ETF's.
    One more thing that I really liked in this book was,
    of asset allocation.
    This topic is also covered in great detail
    and examples are given out of 2002 and 2007 periods.
    So overall, this is again a very good book
    and it gets you to think about longterm
    and the importance of trading in the direction of trend
    and how you can profit from the same.
    So the next book that I've shortlisted
    is Encyclopedia of Chart Patterns.
    Now this book basically covers all the patterns
    that you can find.
    It's purely for those traders
    who like to trade only with price.
    The good thing that I like about this particular book
    is that, Thomas Bulkowski has explained most of
    the psychology behind the setups that he has explained.
    This is a huge bonus along with the fact that
    he has back tested and shared the statistics
    of all the patterns that he has discussed.
    Now why this becomes a huge bonus for you
    is because you can directly come to know which patterns
    are actually high probability patterns,
    which patterns are the ones which fail the most.
    Therefore once you see,
    in real time a high probability pattern playing out,
    you can pay more attention to that
    instead of a pattern which has more failure rate.
    So again, this is a really nice book for those
    who purely want to trade on price and this may not
    be categorized as a traditional technical analysis book,
    but it does a wonderful job in explaining you
    all the trading patterns and the psychology behind it.
    So do give this book a read,
    again, it's a very, very good book.
    So the next book that I've chosen is,
    Japanese Candlestick Charting.
    Now this is a brilliant book on candlestick trading.
    Do read this book because it directly takes you
    to the psychology part of the chart.
    This is a point that I've emphasized many times that
    instead of focusing on candlestick chart or bar chart
    or a line chart, see what is happening on the chart
    in terms of psychology.
    So this particular book will get you thinking
    in this particular direction.
    This book's pace is actually really easy to read.
    It starts with the history of this technique
    and quickly moves into identifying various reversal
    and continuation patterns
    and how this overall candlestick charting gels
    with other fields of technical analysis,
    like moving averages, trend lines, and so on and so forth.
    So do read this book, again, a brilliant book.
    The subsequent two books that have been written
    by Steven Nison, on the same subject,
    you can refer to those as well,
    but this remains my favorite book on this subject.
    The next book that I've shortlisted
    covers the subject of relative strength in detail.
    Now there are a lot of softwares out there
    which give you stocks that are out performers
    or under performers in terms of relative strength,
    but let me tell you one thing,
    I'm not against any software,
    but there is no software or automation that can replace
    human skill, which is why, again,
    go back and refer to this book.
    I've read this book so many times
    that I can't even remember.
    It remains my all time favorite book,
    the name of the book is
    Secret For profiting In Bull and Bear Market.
    It's a 30 year old book, but you'll be surprised
    to see the concepts discussed in this book
    still hold true in this era.
    So do read this book.
    This book entirely focuses
    on identifying outperforming stocks
    and underperforming stocks and how to benefit from the same.
    Next book in line is Complete Turtle Trader.
    Now turtle trading system was one of the
    most famous trading systems.
    You might have heard lot of stories about this.
    It's a wonderful book that gives you an account
    of what happened back then,
    where a group of traders was selected
    or rather individuals were selected
    and they were made into full time traders.
    So this book focuses more on psychological aspects
    of trading, do take notes of this because you'll learn
    so many things from this book, a journey of a trader,
    what mistakes they make, I mean, it's a beautiful book,
    do give it a read.
    There's also another book by Michael Covel on trend trading.
    Once you finish with this, you can start that as well,
    but it remains optional.
    Next book that I select is,
    Trade Your Way To Financial Freedom, this is by Van Tharp.
    Now this is all about money management
    and this book will actually teach you
    how not to go bankrupt.
    Again, it teaches you how to position size,
    how to define your risk, how to assess your system,
    in case you're a systems trader,
    this book is the book for you in terms of risk management.
    Even if you're not a systems trader,
    you're going to learn so much about risk management
    that in the end your whole approach towards trading
    and risk analysis would change forever.
    So do give this book a read as well.
    It's a wonderful book and a must read book for traders
    who are looking to manage their money well.
    The next book in line is,
    Trading In The Zone by Michael Douglas.
    Now, if John Murphy's book was the bible of stock market,
    technical analysis, this book is the bible
    of stock market psychology.
    It's one of the most comprehensive books that is written
    on the subject and you'll be amazed to read this book
    because it explains the human mind.
    It explains how you should be disciplined
    and why you should be disciplined.
    It also explains the importance of trading your own belief,
    your own set of rules, how you need to focus
    and being in the now and not overthink about anything else.
    The overall focus of this book is to help you think like
    a professional trader,
    how to ignore things that don't matter
    and it shares the state of mind that you need to get into
    in terms to become a really successful trader.
    It really focuses on the right mindset and attitude
    of successful traders and how you can attain the same.
    So this again remains a very, very, very good book,
    rather the best book on this subject.
    It is the bible of stock market psychology,
    so do not forget to read this.
    Take a lot of notes because as and when you start developing
    or honing your skills further,
    this book would have played a huge role in terms of
    how you think about yourself and how you think about
    your relationship with market.
    The last book that I recommended is
    Market Wizards by Jack Schwager.
    Now this book is the compilation of interview
    of legendary traders in stock market.
    It's a beautiful book.
    The reason I say so is because you get all those insights
    from these great minds who have succeeded
    in stock Market trading for decades.
    This book actually interviews a host of traders,
    some are futures traders, some are just stock traders,
    some intraday traders,
    some are a mix of derivative and stock traders.
    So again, it's a beautiful book.
    I have mentioned six or five interviews that you must read.
    One is by Ed Seykota, Paul Tudor Jones, Richard Dennis,
    Marty Schwartz, and William O'neil.
    Do not miss these five interviews
    that have been compiled in this book.
    It is one of the finest books that has been written
    in this particular field, and again,
    you'll be amazed to see how these are traders think
    and how you need to replicate their sort of thinking
    to attain similar success.
    So now I'll just take a minute or two to tell you
    how to proceed from here, if possible,
    please read the books in the order I have suggested
    because I've carefully decided the order
    in terms of ease of readability and application.
    The one thing that I always emphasize upon is,
    do take lots of notes because these notes will form
    the building blocks for your trading career
    as you move forward.
    Take your time in reading these books, please don't rush.
    Usually we have a tendency to finish a book in a day or two,
    or let's say you want to move to another book
    and we simply want to read this book really fast.
    Don't do that.
    I think the real benefit from this trading list of booklets
    that I've compiled is if you go really slowly and absorb all
    the concepts really well and take notes of it.
    So by the time you've finished these books,
    you will get a idea of technical knowledge that is,
    you will get to know what sort of knowledge
    you require moving ahead.
    You'll also get to know the main factors
    that actually influence success in a stock market trading.
    You'll learn a lot about how to assess risk
    and how to manage your own money.
    That is within the risk parameters that you set
    and most importantly, you would have learned
    how to have a winner's mindset and how to proceed from here
    in order to get that particular mindset.
    One request that I'll make is that don't look
    for trading techniques or systems in all these books.
    Instead, again, focus on all the psychological learnings
    that you can get from these books.
    Take notes and keep revisiting those notes again and again.
    So that's all for this particular part.
    I'll be coming up the other part pretty soon,
    which we'll discuss more about some advanced books,
    advanced techniques,
    even I'll get into some software, selection of brokers,
    those kinds of things, so in case you have any doubt,
    just leave a comment below
    and I'll get back to you as soon as possible.
    So thanks a lot for watching this video guys.
    Be Safe.
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    Will this move make the Lions a better team down the road? Day 14: Mostly high desert driving. High points (in addition to Hoover Dam): Nipton (no bread at the trading post that was the only store we passed all day, but lots of "Indian" trinkets); the Ivanpah Solar Tower Generating Plant, and a train. Stocks are rising Wednesday morning as investors take in a positive private payrolls read. Meanwhile, gold is under pressure. Disclaimer: Trading is risky. Offered by SPECIAL REMARKS BY HIS HONOUR MR. SLUMBER TSOGWANE ACTING PRESIDENT OF THE REPUBLIC OF BOTSWANA ON THE OCCASION OF THE OFFICIAL OPENING OF THE 13TH GLOBAL EXPO BOTSWANA AND PRIVATE BUSINESS GROWTH AWARDS (31/10/18) [Full Text] *Salutations* Good afternoon! 1. It is an honour and indeed a privilege for me to be part of today's momentous occasion of the Global Expo Botswana (GEB) which brings together business leaders and private sector from around the world, for the common goal of building business relationships and match-making partners. 2. I must convey our deepest gratitude to the Honourable Vice President of India, Venkaiah Naidu, for accepting our invitation to be the 2018 Global Expo Guest of Honour. 3. Honourable Vice President, we are truly honoured to have you in our midst and wish to extend a warm Botswana welcome to you and your delegation. 4. Distinguished Guests, I wish to take this opportunity to recognize all of you who are here for the 2018 Global Expo Botswana and the Private Business Growth Awards event. This being the 13th edition of our premier business-to-business and multi-sectoral exposition, I am informed that this year we have attracted Exhibitors and Delegates from countries such as Kenya, Ethiopia, India, China, Indonesia, Sweden, South Korea, Zimbabwe, Zambia, South Africa, Namibia and Eswatini. This presents an opportunity for all exhibitors, visitors and delegates to engage in meaningful Business-to-Business meetings as facilitated by our Business Matchmaking Programme, which is a platform dedicated to facilitate interactions. It is also at this event, that we will witness Botswana's private sectors success stories as part of the 4th annual Private Business Growth Awards. 5. I am pleased to note that the Global Expo has made huge strides since its inception in 2006 and has over the years grown to a premier business-to-business exposition. The Expo serves as a platform for cross-fertilization of business ideas where partnerships between our local businesses and foreign companies are forged. Some of the successful outcomes of this platform will be shared with you tonight, as deserving winners of Grant Thornton's Private Business Growth Awards who have shown growth in the areas of innovation, market development, people and culture, strategic leadership and financial performance will receive awards. 6. Ladies and Gentlemen, a cursory look at this annual business-to-business showcase will convince you that you have come to the right place. Global Expo brings together leading industry professionals, product suppliers, agents and distributors, as well as experts from diverse backgrounds, to give you in-depth deliberations and analysis on trending economics and global business topics. 7. You would also have realized that the theme of this year's Global Expo Botswana: "Seizing Opportunities Through Networking with Global Business Leaders", resonates well with the drive for Global Industrialization to achieve sustainable and people-centered progress. On the other hand, the theme of the Private Business Growth Awards, "Creating Impact", highlights the endless possibilities if such opportunities are tapped into at the right time. 8. All these align well with Botswana's Vision 2036, through which, we aim to achieve Prosperity for all– to move ourselves out of the trap of upper middle-income status. Most importantly, our Vision also aligns with the global agenda for sustainable development and the principles of Africa agenda 2063, whose key priority is to leapfrog development and bridge the digital divide towards the attainment of our development goals. It is a vision geared towards stimulating growth through value addition and beneficiation of our natural resources, modernization of our agriculture, full digitalization of our information and communication infrastructure. The Vision also aims at empowerment and full participation of our citizens towards transforming our country from a resource-reliant economy to a fully industrialized and diversified one. 9. Ladies and Gentlemen, our key priority as a country is to consistently use our strategic geographical positioning in Southern Africa as a launch-pad into the rest of the SADC Region. Our political and economic stability is unparalleled in the Continent. This stability further extends to our macro-economic environment and economic growth, as well as continued high sovereign credit ratings. We continue with our efforts towards creating a relaxed regulatory environment for starting a business in Botswana, through our Doing Business Strategy and Roadmap. Such efforts include reforming business regulations across various areas that are central to business, including Enforcing Contracts, Protecting Investors, Paying Taxes. 10. Further, we continue to review and make strategic reforms in order to ensure that Botswana fully exploits her potential as an investment destination of choice. These reforms include the continued automation of our data management systems for trading across borders; as well as computerization of our business registry processes. I am confident that the conducive environment for doing business and the opportunities that Botswana has to offer, are a driving force of the country's optimistic economic outlook. As per Grant Thornton's International Business Report, as at the end of the second quarter of 2018, Botswana's economic outlook stood at a net 70% compared to the global optimistic outlook of 54%. I believe this optimism is indicative of significant and impactful investment decisions that are at the verge of materializing. 11. Distinguished Ladies and Gentlemen, we have an obligation as a Government to facilitate trade and investment by creating a conducive environment for the private sector to thrive. As Botswana, we have signed Regional Trade Agreements to ensure greater market access for our goods and services into the rest of the African continent. This include, in particular, the Southern African Development Community (SADC) Free Trade Protocol and the Tripartite Free Trade Area (TFTA) Agreement encompassing the three Regional Economic Communities of SADC, Common Market for East and Southern Africa (COMESA) and the East African Commission (EAC). The objective of these trade arrangements is to boost trade by creating a single market of about seven hundred million people, with an estimated Gross Domestic Product of well over US$1.4 trillion for our goods and services. 12. Ladies and Gentlemen, I also wish to interest you to a number of viable investment projects, which the BITC will detail further during the course of the Expo. But of specific interest to you all might be the eight (8) Special Economic Zones (SEZ) sites across the country. All the sites will provide a hassle-free business environment offering investors a competitive edge in world markets, from specially selected locations across the country with readily available basic infrastructure and utilities. The Gaborone SEZ alone offers opportunities in diamond beneficiation, electronics and pharmaceuticals, logistics, aircraft maintenance, repair and operation. Botswana also repealed exchange controls as far back as 1999, to entrench the country's regional positioning as a business launch pad through ease of capital flows within the rest of Africa. 13. Distinguished Guests, Ladies and Gentlemen, let me conclude my remarks by urging the Business Community gathered here to tap into the trade and investment opportunities that Botswana has on offer. Later tonight, you will see exemplary investors who have succeeded in Botswana, and I hope that their achievements as deserving winners of the Private Business Growth Awards will testify what can be accomplished in Botswana. 14. Ladies and Gentlemen, with these few remarks, it is now my singular honour and privilege, to usher the Honourable Vice President of the Republic of India to officially open the Global Expo Botswana 2018. 15. I thank you. "Look at Canadian Natural … the Canadian benchmark in the country. That stock right now, the valuation it's trading at is almost unheard of." The Packers did the right thing trading away Ty Montgomery I The D.A. Show Happy Halloween from the tea shop! A close family friend who I have known since childhood kinda insinuated that I am a bastard because I am supporting PDP to remove my 'brother' (Osinbajo) from office. That I am trading VP for SGF. Let me say this now publicly: Even if na my mama born Osinbajo I will still work against him and vote for a Peter Obi. Let me emphasise not just any Igbo man ooo...But one that is competent and has a good track record like Peter Obi. As I asked this close family friend let me ask here...What has Osinbajo done for Yorubaland since he became VP. What? If he had just fought for Lagos Ibadan expressway to be completed I won't have plenty mouth to talk now. But oh no....he could not even do that. The real bastards are the foolish Yoruba people who follow men like Tinubu, who is only interested in his personal profit and not the good of Yoruba people who he claims to lead. It is funny that this came up today, because I had this very same conversation with my dad a few days ago who asked a fantastic question..When Buhari was allegedly `sleeping in Tinubu's house begging for his support for Yoruba votes? What was the condition Tinubu gave him? Not personal conditions to appoint his cronies in juicy positions...But conditions in terms of projects that Buhari will promise that he will complete in the Southwest for the benefit of not just Yoruba's but all Nigerians who are domiciled or have cause to visit the southwest. The non bastards are free to answer.... I RISE
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