The Title?

Come into my trading room - The name was inspired by a book I highly recommend for beginners. If you're anything like me (then you are freaking awesome) but really, if you're anything like me then you want to know more and you want the information delivered in a succinct manner, free from all the extra bull. The book was recommended by two of the best traders that I know. Although I don't know many traders, I'm sure these guys are two of the best around, I've seen them in action.

Alexander Elder captures all we want in his must have book for all traders, he explains what needs to be done, why it needs to be done and how to go about it. He answers all questions as though you were sitting across from him and asking them personally, and he should! His success as a trader has a bit to do with his expertise as a psychologist, and one thing you know if you've read anything about stock trading is that the game has a great deal to do with psychology, we must understand the state of mind of the masses and take advantage accordingly. Alexander Elder tells you the story of the markets as though you are watching it happen in crystal ball in front of you, then makes you feel dumb if you don't trade like him (oh the Russians).

So why not quit reading this novice's babble and pick up a book and read the crap out of it?.. well you can! (But then ill be sad) but the book targets traders with huge pockets, most books do and their advice is sound. Most people will tell you that if you have less than 30k to blow for no reason you should stay away from the markets, but i don't have that much, not even close, but i will get there, and you will come with me. We will turn five dollars into ten, ten into 15, 15 into 20.... you get the gist i can keep going.

Why am i so confident? well today is october 12th 2011, as you know its been a terrible few weeks that we've had in the markets! I am proud to say that in the past two weeks i have returned over 8% on my portfolio while trading stocks, mostly mid and micro cap. This is not to sell you a strategy or some stock picking guru/ machine service (more on those to come), rather i want you to know it is possible to be a novice and have enough skill to make +8% return on your portfolio in a market that chews and spits people out for lunch. There are of course rules to doing that, but the best part of it  is that you make the rules, the better your rules are the better a trader you will become.

Besides Edgar's book id recommend an author by the name of Toni Turner. Toni is the author of a few how to for beginner books, my favourite is "short term trading in the new stock market". Toni also makes the markets really easy to understand, she emphasizes the idea of not trading to make money initially, rather we must trade to trade well... WTF does that mean? we'll get there... We'll get there together.

One thing I look for in books is its "straight-forwardness" for lack of a better word (although i could just look one up in the thesaurus... i digress). A book must tell me what i should know and why i should know it in as few words as possible and still sound intelligent (so i trust it). I don't like being bull $#!++3d (See what i did there), I also don't like spending a lot of money with no value attached, I will not spend $500 on a book that tells me the same thing a $30 dollar book tells me, i'd much rather buy $AAPL with $470 (yes that will only buy me one stock, but ill love that one stock and treat it like a queen) and buy the $30 dollar book. So before you think that just because it costs more there's more value, STOP! read a section of the book; does it make sense, is there some secret that will revolutionize trading forever, will you find the same information in a book that costs half as much. You might probably be better off investing the money in something else.

Books are a great tool, they're the third most useful thing i've come across when learning the world of stock markets, the others being experience and people in that order(more to come on these). But books are the first point of contact, and they should be your first too.

The links below take you to Toni Turners website, and amazon.com to find Alexander Elder. They are two books that i highly recommend. Please leave a recommendation for me, i'd love to read them and learn more so i can fine tune my trading and maybe next blog ill be able to tell you that i made 20% return instead of 8%.

Till then, Trade well (Im trying a new thing... does Trade well sound good? EENH) (BLAOW!)

Edgar Alexander
Toni Turner