Is it worth reading old books about the stock market?
Like any learning process, understanding the basics of stock trading is simply unthinkable without reading books about trading .
While you can glean some useful information from the vast number of articles on countless Forex websites, printed or e-books remain one of the primary sources of information.
Their main advantage is that it's always clear who wrote the content and how trustworthy it is.
Many of these works are written by truly outstanding traders or analysts with years of experience in the stock market.
However, some readers wonder, "How relevant is everything written many years ago?" After all, most of these books were written 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.
