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.
So, is it necessary to read books written more than 10 years ago?
Definitely necessary. But don't blindly follow all the recommendations in your chosen textbook.
It should be noted that, first and foremost, the strategies and tactics for generating profits are changing, while the basic principles of pricing based on supply and demand remain the same.
That is, one 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 that can be broken for various reasons, and gold will no longer rise in price when the dollar falls, as it did before.
Books written even a few years ago don't offer a ready-made strategy; they only provide an understanding of the market and its fundamentals. Based on this information, you'll then be able to build your own profit-making scheme.
Stock trading wouldn't be so profitable if you could learn it by reading a book written by a billionaire ten years ago, even though everything in it is true. Because even the author himself may have already changed his strategy and tactics for making money.
Therefore, when reading the theory, do not forget to open trades, even on a demo or cent accounts, thus gaining practical experience.
