Education Is Key For Binary Options Success
It takes more than knowing how to pick buy or sell to trade binary options successfully. Binary options, like any type of tradable financial instrument, are not easy to trade. Yes, binary options are a simplified form of trading but the simplified part is the option itself. The market is still the same complex beast it always is, fickle as any story book maiden, cold as a any polar night. It takes a lot of work, discipline and commitment to trade successfully. This post begins a series where we will review and list our favorite books on trading and the markets. These books represent the education and experience of the worlds top traders.
The Tao of technical analysis :
“The market knows everything and that knowledge is represented in the charts”
The first three books on the list are ones that we feel are great starting points for any trader, old or new. The very first tells the tale of the earliest stock market traders and chronicle one mans evolution from from bucket shop speculator to Wall Street bear. The next is the bible of technical analysis. It is a timeless classic and reference for tool traders and investors of all markets and all trading vehicles. The last is the first definitive book on the binary options industry. It compares the rise of binary options to book making, explains both sides of the trade and goes on to discuss trading and strategy.
Our Top Picks For The Binary Option Book List
Reminiscences Of A Stock Market Operator – Lefevre-
This is by far my most favorite and most read book on trading. This story is the story of all traders and a source of personal inspiration. This is the story of Jesse Livermore, the greatest stock trader of all time. He was so good and so powerful a trader that the stock market crash of 1929 was blamed on him. The story is told by Lefevre, a reporter who supposedly meets up with a stock trader by chance. The trader tells the tale of how he learned to read the ticker tapes trading in the bucket shops of 19th century New York and parlayed that skill into several fortunes. In the end it’s not what you trade, it’s how you trade… attitude is everything.
- Reminiscences is not just a book for traders. It is a great read telling the a story of the early part of modern American life. The story ends just after the great depression, a market event blamed in part on Jesse Livermore.
I read this book at least once every couple of years. Every time I read it I learn something new, gain a new perspective or realize the solution to a problem. The insights on trader psychology, market timing and wealth management are as timely today as they were 100 years ago. Once you read it I think you will agree that the bucket shops where Livermore first got his start are akin to the binary trading brokerages of today. These shops were places where people had access to trade short term all or nothing positions with the house. The experience and knowledge in this book will help you whether you trade in a bucket shop, trading floor or binary options brokerage. This is one trading book that will surely stand the test of time.
Technical Analysis Explained – Pring
This is the bible and the all time go to reference on technical analysis for us here at Binary Market Analysis. My personal copy is well worn from years of use. Technical Analysis Explained is well regarded as one of the first definitive books on the subject of technical analysis. We recommend this book for new and experienced traders as it holds information ranging from basic trend following techniques and chart patterns all the way through complex strategies utilizing multiple techniques.
- Learn trend determination, support and resistance, Fibonacci, moving averages, volatility and chart patterns. These tools apply to stocks, commodities, forex, currency, futures and binary options trading.
The greatest thing about technical analysis is that it can be applied to any market. The same techniques that work on futures or commodities will also work on index or forex binary options. This book is not the final word on any form of technical analysis but it is the best first step for anyone interested in learning technical analysis or anyone seeking to expand their knowledge. Pring goes over the basic principles of technical analysis, charting, candlesticks, trend determination, indicators, oscillators, volatility and strategy.
Binary Options:Fixed Odds Finanicial Bets by Hammish Raw –
This is the definitive book on binary options and how binary options works. This a great read for anyone interested in binary options and binary options trading providing insights for traders and market makers. Published in 2008 this book is the cutting edge of the industry. Hammish goes over the ins and outs of binary options trading and what it takes to make a winning trade.
- Chronicles the rise of the binary options industry and how it works. A must read for anyone trading binary options.
Binary options are a fixed return bet akin to taking bets on sporting events. Hammish goes through the basics of how odds are determined, how the market maker makes their money and how this all impacts binary options and binary options traders. Once the basics have been discussed he goes into more depth on techniques and strategies for making and hedging binary options trades. Throughout the book there are dozens of tables, charts and visual aids that help to cement the ideas presented.
The Best Free Binary Options Ebook