Book Recommendations

[sub5mango]

Hi all

Can anyone recommend some good books that would take me to the next step?

This is my status:

I would like to start trading futures.

So far I have a basic understanding of:
risk (3-5% of my principle on any 1 trade - use stop orders), the ratio of profitable to loss trades (4:6), protecting my principle (trade 20% of margin at any one time), profit ratios (1:1.5-2).

I intend to focus on using technical analysis BUT I don't have any entry, exit strategies formulated.
I have time to day trade but thought it better to start out with swing trading.
I have a small principle (that's why I chose futures over stocks).

I thought the next step would be learning to read charts and I was considering these books:
Schwager, Jack D Technical Analysis (Schwager on Futures)
Schwager, Jack D Study Guide: Technical Analysis (Schwager on Futures)
John J. Murphy Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications (New York Institute of Finance)
John J. Murphy Study Guide: Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications (New York Institute of Finance)
Richard J. Teweles (Author), Frank, J. Jones The Futures Game: Who Wins, Who Loses, & Why: Who Wins, Who Loses, and Why

Thanks in advance for any advice.

[Soultrader]

Dont bother with Schwager, Jack D Study Guide: Technical Analysis... its too basic and found it a waste of time.

My favorite publishing firm is Fraser Publishing Company. Best collections and full of gems. Might as well buy all the collection they have.

[sub5mango]

Thanks for the prompt reply, I will check Fraser out now.

Do you rate the Schwager Technical Analysis book (not the study guide)? It seems to come highly rated...same with the John Murphy (not the study guide)?

[BlowFish]

By technical analysis do you mean indicators oscillators etc. or more generally how to read a price chart?

There is a bit of a catch 22 when starting out. Its hard to know what approach is going to resonate with you without looking at bunch of different approaches. Furthermore it is hard to evaluate the veracity of various approaches without having some knowledge already.

Check out the book review section here as a start.

[torero]

John Murphy's books are very solid work, really recommend them. No comment on Schwager's technical books as haven't read them, only Market Wizard series.

[Z_trade]

Books by Martin Pring and Joe Ross.

[firewalker]

Zen and the Art of Poker by Larry W. Phillips
ISBN 0452281261

High Probability Trading: Take the Steps to Become a Successful Trader
by Marcel Link (although it can be summarized in 10 pages) - 0071381562

Art of Contrary Thinking (Paperback) - by Humphrey B. Neill
087004110X

Why Smart People Make Big Money Mistakes and How to Correct Them: Lessons from the New Science of Behavioural Economics by Gary Belsky
0684859386

Techniques of Tape Reading
by Vadym Graifer

[bootstrap]

The Only Three Questions That Count by Ken Fisher
Freakonomics by Stephen Levitt

[mrk80]

Any recommendations for books on daytrading in the stockmarket?? I have a clear understanding of how I want to enter and exit and what indicators I will use. I need something thats pass the beginners stage. Any suggestions????

[firewalker]

... but about behavioral economics. Which is still, imo, a very very interesting topic:

Predictably Irrational: The Hidden Forces That Shape Our Decisions (Dan Ariely)

A review can be found here:
http://www.newyorker.com/arts/critic...urrentPage=all