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Adamned

Are there any good trading books?

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I have a general distaste for most trading books. I only like books that are basically memoirs. I have read and reread Reminisces of a Stock Operator, How I made 2,000,000 in the stock market, the market wizards series, Mark Douglas' two books, and Martin Schwartz's pit bull book.

 

The problem is that it appears I have exhausted the source of quality trading books. I would greatly appreciated any and all suggestions. Please give suggestions even if the books are not directly related to trading. For example I have found some biographies on generals such as Gen. Patton and Field Marshal Rommel to be appropriate to trading in some aspects. Thanks for the help and good trading to all you great people on this forum.

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There are some good books around about George Soros that I have read.

 

Also Victor Niederhoffer (probably misspelt that) has written a couple about himself, but I haven't read them.

 

Re Jesse Livermore, there is his biography by Richard Smitten.

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Gary Smith's "How I Trade For A Living" is my personal favorite.

 

Wyckoff's "Day Traders Bible" is good for general tape reading, not just day trading.

 

"Zen in the Markets"

 

"The Money Game" by Adam Smith

 

"New Contrarian Investment Strategy"

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hi dear all traders

i have more than 3k books in trading in soft copy.(with all categories)

if anyone need any book i will send him if that book is not present in my collection then at least i will try to search it and share with you.

so happy traders dont worry and just send me book name and author name.

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The book explains the stock market fundamentals. How the stocks are traded by brokers on the floor, and online brokers providing market access to individuals. How the market makers, analysts, institutional investors, fund managers control the market. It's an ocean infected with hungry sharks.

For More Detail Click Here

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Gary Smith's "How I Trade For A Living" is my personal favorite.

 

Wyckoff's "Day Traders Bible" is good for general tape reading, not just day trading.

 

"Zen in the Markets"

 

"The Money Game" by Adam Smith

 

"New Contrarian Investment Strategy"

 

Ah Gary Smith's book. MAN that's a good one that NOBODY talks about!

 

I have to say, it's probably the most original one out there in terms of what his strategy is, but I literally think about the things he discusses in that book probably several times a week, every week. I sometimes don't even mention it to people because I almost feel it gives too much away about a very crucial part of the puzzle, that it's not fair for the rest!

 

It opened my eyes completely to the value and some basic methods of determining market sentiment, and I use this constantly with my technical analysis to help develop my trading strategy on a daily basis.

 

Good stuff, kinda surprised to see anyone mention it, but I totally agree, one of the best hidden gems in the trading book world.

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Jesse livermore is the compilation of what someone feels he should have done because he did something else. Anyone one of us can write the same book correcting the old mistake, but correcting old mistakes leads to new mistakes that then need to be complied and written about. I found it incredibly difficult to swallow his bullshit about taking down the bucket shops. Trading in the early 1900's was largely unregulated and rumors and tips were shared like notes on which of the woman would put out.

 

Most of what you will read is fantasy, generally written by trading junkies who can't make it trading. It may as well be in movie form with your favorite actor playing the lead role.

 

A really fun book would be a "Where Are They Now" type book.

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Yes! there are lots of books are available but among them these five books are the best for trading -

1. Technical Analysis of the Financial Markets (by John J. Murphy).

2. Market Wizards & The New Market Wizards (by Jack. D. Schwager).

3. Trading In The Zone (by Mark Douglas).

4. Mastering The Trade (by John Carter).

5. Volatile Markets Made Easy (by Guy Cohen).

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I have a general distaste for most trading books. I only like books that are basically memoirs. I have read and reread Reminisces of a Stock Operator, How I made 2,000,000 in the stock market, the market wizards series, Mark Douglas' two books, and Martin Schwartz's pit bull book.

 

The problem is that it appears I have exhausted the source of quality trading books. I would greatly appreciated any and all suggestions. Please give suggestions even if the books are not directly related to trading. For example I have found some biographies on generals such as Gen. Patton and Field Marshal Rommel to be appropriate to trading in some aspects. Thanks for the help and good trading to all you great people on this forum.

 

I know this is a few years old, but people still see old threads like these, s here are a fe I have found interesting or useful:

 

Studies in Tape Reading - Richard Wyckoff (the original was Rollo Tape, a pseudonym of Wyckoff).

 

Master the Markets - Tom Williams -lots of good stuff but needs many readings and has a bit too much about his software product.

 

Charting the Stock Market : The Wyckoff Method - Jack Hutson

 

How I Trade and Invest, in Stocks and Bonds, Being Some Methods Evolved and Adopted, During My Thirty-Three Years, Experience in Wall Street - Richard D Wyckoff.

 

Wall Street Ventures & Adventures Through Forty Years by Richard D. Wyckoff (auto biography, not a trading book - fascinating to read though).

 

A scan of Amazon in books for Richard D. Wyckoff turns up a number, including a couple that are collections of his newsletter (one covers Gann and another covers Livermore. Note there is an author peddling books under the name Richard Wyckoff - note the missing D. This is a modern author and personally I think a waste of space.

 

David Weiss is due out a book in the next few weeks /months and it is highly likely to be very interesting - it is listed on Amazon: "Trades About to Happen: A Modern Adaptation of the Wyckoff Method"

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Jesse livermore is the compilation of what someone feels he should have done because he did something else. Anyone one of us can write the same book correcting the old mistake, but correcting old mistakes leads to new mistakes that then need to be complied and written about. I found it incredibly difficult to swallow his bullshit about taking down the bucket shops. Trading in the early 1900's was largely unregulated and rumors and tips were shared like notes on which of the woman would put out.

 

Most of what you will read is fantasy, generally written by trading junkies who can't make it trading. It may as well be in movie form with your favorite actor playing the lead role.

 

A really fun book would be a "Where Are They Now" type book.

 

Well, livermore shot himself about 80 years ago; wyckoff dies a bit later basically of old age. Gann the same.

 

Wyckoff and Gann both have a lot to say relevant now, but you can't pick up their books and have a complete trading system. Gan's best are the non esoteric books, where he turns out to be very pragmatic. Much of what he says sounds obvious to us now, but its because people like him came up with the concepts they sound so obvious. I like reading the old books, but there are limits to what you can learn in practice

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I have read books by these authors and feel they made a positive impact on my trading

Listed in no particular order:

 

James F. Dalton

-Mind over Markets

-Markets in Profile

If your into learning about Market Profile, Mr Dalton is the Market Profile Master

 

John F Carter

-Mastering the Trade

Mr Carter approach to the markets I feel is incredible. MTT is a great book. Mr Carter has a 2nd Edition out which I haven't read yet. If its anything like his first book, I am sure I am not going to be disappointed

Al Brooks

-Reading Price Charts Bar by Bar.

Mr Brooks is a Pure price action trader. He recently expanded on this book and wrote a few others by specifically focusing on concepts in more detail.

 

Carolyn Boroden

-Fibonacci Trading, How to Master the Time and Price Advantage

Miss Boroden is the Fibonacci Queen. Great book

Dr Thomas Carr

-Trend Trading for a Living

-Micro- Trend Trading for Daily Income

Mr Carr explains profitable concepts in a simple form. Easy to use and understand

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What about 'Extraordinary Popular Delusions and the Madness of Crowds', written by Charles Mackay and first published a few years ago, in 1841.

 

It's not literally about trading, but it is useful from the angle of the 'herd' and it is an interesting book. I would imagine that everyone would benefit from reading it.

 

I love threads like this, I am always on the look out for new interesting books. Since a few years back (around the time I started looking into this trading game, as it happens) I have vastly increased my library of books, not just on trading but all sorts of subjects. :)

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John F Carter

-Mastering the Trade

Mr Carter approach to the markets I feel is incredible. MTT is a great book. Mr Carter has a 2nd Edition out which I haven't read yet. If its anything like his first book, I am sure I am not going to be disappointed

 

Hi Steve (and anyone else reading),

 

Mastering the Trade was pretty much my introduction to trading, and my personal advice would be to steer well clear of it. If you run backtests of the strategies (which is easy to do as he is very specific with entry and exit criteria), I think you should quickly see why I am making this 'un-recommendation'.

 

But maybe others have found value in it that I missed.

 

Regarding the 2nd edition - I browsed it recently in a bookshop, and the main changes seem to be the addition of some Hubert Senters chapters on trading gold, and the removal of the Market Profile section.

 

BlueHorseshoe

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I have a general distaste for most trading books. I only like books that are basically memoirs. I have read and reread Reminisces of a Stock Operator, How I made 2,000,000 in the stock market, the market wizards series, Mark Douglas' two books, and Martin Schwartz's pit bull book.

 

The problem is that it appears I have exhausted the source of quality trading books. I would greatly appreciated any and all suggestions. Please give suggestions even if the books are not directly related to trading. For example I have found some biographies on generals such as Gen. Patton and Field Marshal Rommel to be appropriate to trading in some aspects. Thanks for the help and good trading to all you great people on this forum.

 

The books you mentioned are the top books I have read many times.

 

You will no doubt really like "Technical Analysis and Stock Market Profits" by Richard Schabacker. He is the real originator or Technical Analysis and coined all the patterns (head and shoulders, triangles, flags, and more).

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a moto....several pots of coffee...mr brooks books..and the taylor trading technique book..and 12 to 24 months to REALLY study them...6 to practice on a sim...then live. it should be all you will need to extract profits from the markets.

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my advise to you , visit Forex-Training.com this site provides high quality training and educational resources for foreign exchange ("Forex") and commodity traders. This site contains information which will allow the novice to develop an understanding of basic trading techniques, risk control, and finally opening and managing a Live trading account.

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I have a general distaste for most trading books. I only like books that are basically memoirs.

 

This is kind of a cross between pragmatic advice and memoir, but there's some good stuff in there. Try Trading As a Business by Charlie F. Wright.

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