Looking for a Binary Options Trading Book? Don’t Get Lost!
Best books for binary options is one of the top searched key word phrases on the internet. The trouble is that there are so few books about binary options you are likely to get a return for some crappy ebook as anything else. Don’t worry, there are some great books for binary traders and here is a look at two!
My absolute favorite book on trading, about trading and for traders is Reminiscences Of A Stock Market Operator. Not only does this book have long lasting information relevant for all traders it is a plain old fantastic read. This is the story of Jesse Livermore, the greatest stock trader of all time. Jesse was such a prolific and successful trader it was said he could move the markets with a simple comment. In fact, he was such a well known market bear that he was blamed for causing the U.S. market crash of 1929.
Jesse got his start trading in the bucket shops of pre-1900 New York. A bucket shop was a place where the average Joe could come and bet on the markets based on the tick of the tape. These bets were very similar to the binary options of today, if the asset went up the trader would win, if the asset went down the trader would lose all. While trading in the bucket shops Jesse learned that he could predict market movement and future prices based on current price action. He applied his theories until he became so good he moved on to the real markets. That was when his real education began. This book is a great story but more importantly it is a look into the mind of a trader. What makes him tick, why does he do what he does? Every time I read it I learn something else about myself, the markets and trading. I read it at least once a year.
The other book I can most highly recommend to any binary options trader is Martin Prings Technical Analysis Explained. This book should be the starting point for every new binary trader and on the reference shelf for all the others. Mr. Pring’s book is the definitive introduction to technical analysis. Mr. Pring starts off with price action and Dow Theory, explaining how the market moves. He goes on to define technical analysis and all the ways traders use it today. He touches on each of the different types of charting from point-and-figure to mountain, HLCL and candle stick charts. He also explains the theory behind trend, support and resistance, oscillators and other technical indicators. The second half of the book is dedicated to trading theories. Mr. Pring shows you how to apply each of the types of analysis to real charts and how to profit from it.
The one book, or I should say class of books, is the free ebooks offered by so many of the binary options brokers today. Seriously, these ebooks, which are meant to attract traders because they offer so much information are a real joke. Except for a rare few these books contain barely more information on binary trading than what you can find on the average brokers home page. Bianry options are this, trading binary options are easy, all you have to do is pick and asset and a direction. High/Low options are this, Range Options are this blah blah blah. I’m ready for a broker to offer a book that really has some useful information like how to build a strategy or how to use technical indicators.
Invest In Yourself Before You Invest In Binary Options
You’ve heard a million times before I’m sure but I have to say it again. Binary options are risky, much more risky than the brokers would lead you to believe. If you want to start invest using binary options you would do well to invest in yourself first. Take some time to learn about how binary options work and I mean how they really work, not just the 1-2-3 this is how you buy binary options explanation that is pasted all over the internet. Trading can be a rewarding challenge or the source of endless frustration, lack of sleep and losses. Reading a good book is only one of the many ways to set yourself on the path to a rewarding future as a trader. Of course, you have to read the right book.
Still haven’t find the right Binary Options trading book for you? Find one on our forums!