What relevant trading books to read

Trading is like any other job or sport or hobby. Everybody can try it, but to master, you need to learn first and practice for many thousands of hours. I stand by Malcolm Gladwell’s rule of 10.000 hours of practice for becoming an outlier (trader).

“In my whole life, I have known no wise people who didn’t read all the time - none, zero.” Charles T. Munger

Unfortunately, in the beginning, you simply cannot see all the aspects of the trading, nor you can imagine how many things are below the surface. The comparison with an iceberg is very well fitted here as what the novice trader sees is misleading. Buying or selling a stock is simple now, just a few clicks and done! But, this is not the idea. Idea is to know what to buy or sell, when to buy or sell, what position size to use, how to manage the trade, when to close, what feedback you write down for the transaction and more importantly what steps do you take when you make a mistake.

Many novice traders start trading without preparation. They found out from friends or Social Media that a company’s stock is hot and they open an account and start buying without any due diligence. This is why 90% of them will lose money and wipe their accounts.

For starting in the stock market, my opinion is to discover as much as you can, take notes and build your own method…