Tape Reading and Market Tactics by Humphrey Bancroft Neill

The best kept secret. In my opinion this is a book well known to professionals and not to amateurs. Most people lose money in the markets.

Originally published in 1931, this is a classic book focusing on tape reading and price and volume analysis. Why is this book so important? Tape reading and volume are pure information. Being able to read both gives you a tremendous edge over other traders. In my opinion it is as good as "Reminiscence of a Stock Operator". I have gained tremendous market wisdom by studying Neill's book over and over. Neill takes a true contrary approach as noted in one of his advices to investors: "beware of the crowd. When everyone thinks alike, watch out. They're probably wrong."

This is ranked 3rd next to Reminiscence of a Stock Operator and Mind OVer Markets in my all-time favorite trading book.