Reddit mentions: The best foreign exchange books

More books!

"The Millionaire Next Door" as I said is a must-read. For real estate, I actually learned a lot more just through Reddit and BiggerPockets than any books I read. Most of the books I read I would classify as entertainment rather than guides. I read this book on short sales after meeting the author on BiggerPockets and it's pretty useful. Tim Ferris' "The Four Hour Work Week" is a good book to read and steal mentality from, but with massive cautions; treat Tim as an eccentric madman and don't take his advice as gospel. He would tell anyone to just start an online business and then fly around the world blowing money. Trying to hype the reader up by encouraging rampant materialism is a big part of his writing style. Don't take the book too seriously, but there's a lot of really good mentality bits you can steal from it, specifically the stuff on the Pareto Principle.

I consider this book purely entertainment, but it was still a decent and easy read. I also read a book on Forex trading (this one) that taught me quite a bit on risk management and chart technicals, but I don't know that it's entirely relevant. I spent a few months trading Forex with extremely low-risk strategies and was averaging 1% a month, but I didn't like the disconnect I felt from the actual business, and I found I could make money faster in real estate (I'm doubling my net worth annually from buying the houses).

If you struggle with weight, read "Why We Get Fat" (or the bigger, harder read "Good Calories, Bad Calories") by Gary Taubes. It's the perfect book for INTJs and will completely spin your mind around on the concept of nutrition without being a dry read at all. It kept my attention the whole way through (Why We Get Fat, that is- GCBC is a dryer read and targeted at doctors, but even more informative). I would say "Why We Get Fat" is the book that had the biggest effect on my life. Even if Taubes simplifies things considerably, you quickly realize just how much nutrition advice is complete crap. I used to try to eat healthy by packing a bunch of bananas to work. No wonder losing weight was hard. (I am skinny now- didn't used to be.)


I'll send you anything else that pops in to my mind; this is just off the top of my head. I read a lot more online than actual books. FlyerTalk has the most credit card churning stuff, and BiggerPockets has the best real estate stuff. I subscribe to /r/investing , /r/realestate , /r/personalfinance , and /r/financialindependence.

Don't take anything as gospel; always analyze for yourself and ask "Why". If everyone tells you to do something a certain way, they're probably simultaneously right and wrong. It's probably the conservative option, it probably has the best risk/reward ratio, you probably can do better, but you'll probably get screwed if you try unless you're better than everyone else.

For example, most people shouldn't use credit cards for rewards. Why? The psychology aspect. It will trick you in to spending more than you would with cash or a debit card, unless you're disciplined enough to not let it. I am. So I use it. I wouldn't tell my poorer friends to get a credit card just for rewards...they'll screw up.

Common knowledge is like that. /r/investing will tell you to use nothing but index funds, or spread your money across 20 stocks. They're right to give that advice. Completely right. Most people try to be clever, but overcentralizing exposes you to too much risk and the vast majority of people who overcentralize in one stock get burned down in the end.

But when I suggested these real estate ideas with a throwaway to /r/investing, I was told "You aren't Warren Buffett" and that I shouldn't try and would lose everything. The groupthink becomes too strong.

My key advice:
Don't take advice as a law; figure out the principle behind that advice, and why that advice is given.


Oh! And learn to play Poker. Seriously...pick up a book or something, or find some serious players who will play serious games without money. (Don't gamble...but learn to judge risk/reward like a gambler. Poker is not true gambling. The best player will consistently win the majority of games.)

Hey, glad to hear you are a fan of Elliot Wave! I think mastering EW is the key to succeeding as a technical analyst. If you've been following the crypto market, maybe you've heard of my favorite EW trader, Philakone

His calls have been spooky accurate and has gained quite a following because of it. He just created a 16-hour online class covering TA and the basics of success for day / swing trading in crypto specifically, but EW can apply to all kinds of markets (just not great on individual stocks). The course is $200, and I did sign up for it, but in his case, I know he isn't a scam artist and has put out endless quality content on his youtube channel. I have made a lot more money using the tools he has given me, so I thought it was a good way to learn/reinforce my learning and show my support for him.

That being said, I'm three lessons deep and I haven't learned anything new that can't be found in his exiting youtube videos. However, they are all arranged in one place for you and explained in order, which may not hold true of his youtube videos.

Based on his recomendations I also follow Goldbug1 on trading view and Haejin Lee

I also recommed reading text books, I have read the EW bible: Elliott Wave Principle: A Key to Market Behavior by Frost and Prechter and I'm warping up reading Five Waves to Financial Freedom: Learn Elliott Wave Analysis by Ramakrishnan. The first is primarily the mechanics of EW and the second is more the application. Now, I've also started making a set of flash cards based on the important points in these books, on a program called Anki, which is used primarily by medical students. Once its a little more fleshed out, I'd be happy to share it.

As far as that goes, I would love to see a more active community here. Sharing ideas with a community and having them critiqued is essential to learning and being successful. I've been on a mission to post my TA when I see a good potential setup or do a more complex TA just to try to get this place a little more active. So, with that in mind, I'd recommend commenting, asking questions and even posting your TA here so we can learn together.

Hey there,

Great idea that you chose to focus your research on Bitcoin.
When I first tried to grasp the inner workings of the technology, I found this post to be extremely useful: http://www.michaelnielsen.org/ddi/how-the-bitcoin-protocol-actually-works/ (it's a bit older, but still perfectly suitable for your purpose). Moreover, this article gives a good technical overview (http://www.ieee-security.org/TC/SP2015/papers-archived/6949a104.pdf) and this one is for a less technical audience (http://www.ingentaconnect.com/content/aea/jep/2015/00000029/00000002/art00010). Finally, if you want to have a more comprehensive introduction to the system, get yourself a copy of "Mastering Bitcoin" (has already been suggested here) and of this new book (https://www.amazon.com/Bitcoin-Cryptocurrency-Technologies-Comprehensive-Introduction/dp/0691171696%3FSubscriptionId%3DAKIAILSHYYTFIVPWUY6Q%26tag%3Dduckduckgo-ffsb-20%26linkCode%3Dxm2%26camp%3D2025%26creative%3D165953%26creativeASIN%3D0691171696). The latter is an excellent introduction into the technical and economic building blocks. There are plenty of other valuable resources publicly available, but the previously mentioned articles and books should be sufficient to get you started.

Good luck with your thesis!

Yes and (shameless self plug) I even wrote a book about it.

You have the right idea, an automated trading agent is definitely a benefit in that it is emotionless, constantly running (assuming you have your machine, router and modem hooked up to a UPS) and can be profitable. I must stress the can be since it will not always be that way.

I've written mine completely on my own, no MQL EA development for me! To be honest I stay away from MT4/5 mainly because of the windows requirement (yes, I've heard of Wine but I'm not interested).

My approach is algorithmic with a touch of AI since that's what has worked best for me. I still tune my app every few weeks/months (it's been good lately, so I'm happy) but I do keep an eye on it. I use fixed SL/TP levels, but I've had them "dynamic" in the past.

If you're looking for a fool-proof formula for success, there isn't one. You need to trade manually and learn from your mistakes. Find yourself a strategy that works for you. My strategy involves MA crossovers with an RSI confirming it, but I also have a bunch of other "filters" with it like a minimum value for the crossover, a range that the RSI needs to be in to confirm a signal, etc. Coupled with a fixed SL/TP, it's done me well. The parameters for each are dynamic and found via my AI algorithm. Still, I came up with this strategy doing manual testing with it, followed by a boatload of back-testing.

PM me if you want to chat more.

I found some more info, here's a great post on the weedstocks subreddit from a former market maker. I also found this list on MM tactics; haven't read it yet, but at a cursory glance it looks pretty good.

Oh, and I also found this book a few days ago, and I just finished it. It includes a pitch to buy the author's trading software at the end of the book but there is still a lot of valuable information, and I find his theory on how and why MMs operate the way they do to be very compelling. He also has series of YouTube videos which are pretty good too.

My main attempted ventures were foreign currency exchange. It's one of the easiest to get into and relies on a mix of statistical analysis and news analysis.

Sites:

http://www.babypips.com/

Stupid name, but takes everything step by step and has great tutorial for complete newbs.

Books:

Kathy Lien writes really good books on Forex:

http://www.amazon.com/Day-Trading-Swing-Currency-Market/dp/0470377364

http://www.amazon.com/gp/aw/d/047077035X/ref=mp_s_a_1_2?qid=1464571290&sr=1-2&pi=SY200_QL40&keywords=Kathy+Lien&dpPl=1&dpID=51nNzKy09mL&ref=plSrch

My plan was to do some hardcore studying and practice using simulation sites, and once I could consistently turn a profit above 5 or 6% (less fees, etc), I would do it for real.

Good luck!

Invest in the forex market. You can find all kinds of ways to get a solid and safe 5-10% while minimizing risk.

That does not go without risk though. Currencies fluctuate just like stocks do. read some books and practice it before putting your savings into it.

Making It in the Forex Market: From Zero to $5,000 Per Month (Special FX Academy) https://www.amazon.com/dp/1549604082/ref=cm_sw_r_cp_api_i_i3kYCbQR9XTFS

Is a great start. Took me a few hrs to read and really gives you a grasp on what to expect.

Good luck!

Outstanding answer my man!! I have been interested in getting into blockchain development as well, and I am planning to do a project on it for my networks course this semester. My experience mainly lies with C++, and I'm comfortable with sockets as well in it(boost and regular UNIX sockets), I also did take a distributed systems course as well.

Any ideas for a semester long project? I am currently reading [this] (https://www.amazon.com/Mastering-Bitcoin-Programming-Open-Blockchain/dp/1491954388/ref=dp_ob_title_bk#reader_1491954388) and this to get started.

I honestly don't know of many books about forex, but I was able to read the first few chapters of Currency Trading For Dummies, and it seemed to be alright (covering the basics and such). However, if you don't want to spend money on books, check out these online forex guides (some may be linked in the sidebar, but they're good for beginners):

BabyPips

Forex4Noobs

Investopedia

DailyFX

You can learn a ton about the forex market for free online, but there's always stuff you learn while actually trading that they can't prepare you for in books/online.

For what you are saying I believe that this book is just for you. I utilized my savings according to what is written in this book, but I got afraid and took them out after I made some profits haha. The author shows different understanding of the market, using the law of demand and supply of the money market, so I hope it will be interesting for you:

https://www.amazon.com/dp/B07NJ1HNBC

Here is the post for archival purposes:

Author: _blue_Tshirt

Content:

>I'd like to learn more about the technical side of how the blockchain works, how it is implemented and what standard design choices / decisions were made and why.

>2 books look interesting:

> Mastering Bitcoin by A. Antonopoulos

> Bitcoin and Cryptocurrency Technologies by A. Narayanan et. al

>Both have good reviews. Has anyone read both? How do they compare?

>I've got a few years programming under my belt, although don't have a background in cryptography.

>Thanks :)

Get acquainted soon with Emmett's tradingschools site. Find a good reputable broker also with a decent sim platform. There are a few decent "intro to trading" books out there. One example I'd recommend is "The ultimate trading guide" by George Pruitt. If you're going to spend some money on "trading education", there are a bunch of cheap kindle books out there. Which while hit-or-miss, is still better imo, than splurging $300 for a trading room, or hundreds or > 1k for a scammer "trading course". An example of a primer on something like "volume profile" could be a cheap kindle book like this one.

The book of Japanese candlesticks I read was specific but no to that extent more like how to give context to all the candles and their meanings. By any chance the book you read is this? the one I read on Japanese candlesticks is this one if by any chance you're interested.

Speaking of which, I'm also reading another book that ties together the different markets that relate to Forex.

I'm starting to realize that the forex market is the bitch in the middle of equities, bonds, and commodities. So I really really need to understand all of these relationships so that I nab these good opportunities.

Only 20% of the way into the book, it is pretty long and tedious, but it seems to build up foundations before the rubber hits the road. But there's LOTS of building blocks.

A Three Dimensional Approach To Forex Trading - Anna Coulling

Point being, I think that if I have a better understanding of FA, I might be able to better spot these big breakouts.

EDIT: My wife asks me, "Why are you buying so many books???!" "Because I don't know enough!" :)

I'd say get both these books, the technical details are very good and they're both very well written.


Mastering Bitcoin


Bitcoin and Cryptocurrency Technologies


And take this free online class based on the second book I recommended:
https://www.coursera.org/learn/cryptocurrency/

Bitcoin and Crypto currency Technologies: A Comprehensive Introduction This book is great for learning all about Crypto

It's a long story. Read this book (https://www.amazon.com/Bitcoin-Cryptocurrency-Technologies-Comprehensive-Introduction-ebook/dp/B01GGQJ2XW/ref=pd_ybh_a_20?_encoding=UTF8&psc=1&refRID=W0QTCV2Y10G4GWR703PE) if you want a solid understanding. It'll be a great investment for your time and $

true, why to share your secrets just let all market copy.

try this book to find out how to lose everything quickly and then to do opposite in reality :)

I'm a coder and I found that it jumps from beginner level to more advanced elliptical curve cryptographic math very quickly past the 100 page mark. I think a better book would be the following one which is the basis for a Coursera course:

https://www.amazon.com/Bitcoin-Cryptocurrency-Technologies-Comprehensive-Introduction/dp/0691171696

If you're suspicious that large numbers of Reddit users are shilling for Ethereum, then you can't trust any answer you receive to this question on Reddit. You'll have to turn to other sources, or develop your own knowledge of the functions and problems of cryptocurrencies and how they compare to each other and fiat. I'm reading this book which I'm finding really helpful. It focuses on bitcoin of course, but is a good primer on cryptocurrencies in general.

I was a TA for that class. Can highly recommend the class material and especially Joe's book which the class is based on. https://www.amazon.com/Bitcoin-Cryptocurrency-Technologies-Comprehensive-Introduction/dp/0691171696/ref=sr_1_3?ie=UTF8&qid=1501196273&sr=8-3&keywords=cryptocurrencies

Great resource for investing in forex.
Read this book. You gonna learn how to make real money and avoide mistakes.

http://www.amazon.com/Forex-Beginners-Make-Money-Trading-ebook/dp/B00O2J2DCI/?qid=1413659336&s=digital-text&sr=1-9&keywords=forex+for+beginners&ie=UTF8&ref=sr_1_9

Don't forget the Princeton textbook, Bitcoin and Cryptocurrency Technologies: A Comprehensive Introduction

• (free pdf)
  
• (amazon hardcopy)

https://www.amazon.com/gp/product/B00BQZ9EY6/ref=oh_aui_d_detailpage_o03_?ie=UTF8&psc=1

Thats a pretty simple book for people who are brand new to fundamentals but will get you started

https://www.amazon.com/gp/aw/d/1975736648/ref=mp_s_a_1_4?ie=UTF8&qid=1518456387&sr=8-4&pi=AC_SX236_SY340_FMwebp_QL65&keywords=bitcoin+guide&dpPl=1&dpID=41KQ2APQ2mL&ref=plSrch

This One?