Is it worth reading old books about the stock market?

Like any learning process, learning the basics of stock trading is simply inconceivable without reading books about trading .

Yes, something useful can be gleaned from a huge number of articles on countless websites about Forex, but printed or electronic books still remain one of the main sources of information.

Their main advantage is that it is always clear who wrote the content and how much you can trust it.

Many of the works were written by truly outstanding traders or analysts who have many years of experience on the stock exchange.

But at the same time, some of the readers ask the question “How relevant is everything that was written many years ago?”, After all, most of the books were created decades ago.

And as you know, many strategies stop working literally after a year, let alone decades.

So is it necessary to read books written more than 10 years ago?

Definitely necessary. But at the same time, you should not blindly follow all the recommendations given in the selected textbook.

It should be noted that, first of all, strategies and tactics for making a profit change, but the basic principles of pricing based on supply and demand still remain.

That is, you should not count on the successful operation of the strategy that was used in 1970; it is highly likely that it will not work in 2020 or will have to be adapted to new circumstances.

This also applies to various correlations, which may be broken for various reasons and gold will no longer rise in price when the dollar falls as it did before.

Books written even several years ago do not allow you to find a ready-made strategy, but only provide an opportunity to understand the essence of the market, the basics of its functioning. And based on the data received, you will have to build your own earnings scheme.

Stock trading would not bring in so much money if it could be learned by reading a book that one of the billionaires wrote ten years ago, although everything written in it is true. Because even the author himself may at this moment change his strategy and tactics for making money.

Therefore, while reading the theory, do not forget to open trades, even on demo or cent accounts, thus gaining practical experience.