When I lost quite good money and after that read my first book I...

When I lost quite good money and after that read my first book I was amazed from this simple example. Imagine you are about to have heart surgery and right before the operation you find out that "doctor" in fact is just out of the high school. Would you want to be operated by this doctor? Most likely not, because you would assume that doctor which is allowed to operate people should at least finish medical uni, then work as an assistant and only then after 3-4 years be allowed to lead operations. Why trading should be any different? How a trader can come to the market without any experience or training and start making money outright? No wonder that 90% people lose and only 10% succeed in the markets.

I use work "trader" and many would argue that they are investors. I believe that everyone is a trader and only their timeframe is different. For one it's 5 minutes, for another it's couple of days/weeks and for third it could be years.


Haven't heard about this particular book but I strongly advice you to read at least one book before further investing. I would recommend this one: High Probability trading by Marcel Link

http://www.amazon.com/High-Probability-trading-Marcel-Link/dp/0071381562

Then this one: Come Into My Trading Room by Alexander Elder http://www.amazon.com/Come-Into-My-Trading-Room/dp/0471225347

and finally: Trading in the Zone by Mark Douglas
http://www.amazon.com/Trading-Zone-Confidence-Discipline-Attitude/dp/0735201447

The first 2 books explain use of technical analysis, money management and other aspects of trading. The last one is about trading psychology and teaching to be ready to accept loss and move to the next trade.