Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Adamned

Are there any good trading books?

Recommended Posts

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.

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

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"

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites
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.

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

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).

Share this post


Link to post
Share on other sites
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"

Share this post


Link to post
Share on other sites
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

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

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. :)

Share this post


Link to post
Share on other sites

 

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

Share this post


Link to post
Share on other sites
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).

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites
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.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Be careful who you blame.   I can tell you one thing for sure.   Effective traders don’t blame others when things start to go wrong.   You can hang onto your tendency to play the victim, or the martyr… but if you want to achieve in trading, you have to be prepared to take responsibility.   People assign reasons to outcomes, whether based on internal or external factors.   When traders face losses, it's common for them to blame bad luck, poor advice, or other external factors, rather than reflecting on their own personal attributes like arrogance, fear, or greed.   This is a challenging lesson to grasp in your trading journey, but one that holds immense value.   This is called attribution theory. Taking responsibility for your actions is the key to improving your trading skills. Pause and ask yourself - What role did I play in my financial decisions?   After all, you were the one who listened to that source, and decided to act on that trade based on the rumour. Attributing results solely to external circumstances is what is known as having an ‘external locus of control’.   It's a concept coined by psychologist Julian Rotter in 1954. A trader with an external locus of control might say, "I made a profit because the markets are currently favourable."   Instead, strive to develop an "internal locus of control" and take ownership of your actions.   Assume that all trading results are within your realm of responsibility and actively seek ways to improve your own behaviour.   This is the fastest route to enhancing your trading abilities. A trader with an internal locus of control might proudly state, "My equity curve is rising because I am a disciplined trader who faithfully follows my trading plan." Author: Louise Bedford Source: https://www.tradinggame.com.au/
    • SELF IMPROVEMENT.   The whole self-help industry began when Dale Carnegie published How to Win Friends and Influence People in 1936. Then came other classics like Think And Grow Rich by Napoleon Hill, Awaken the Giant Within by Tony Robbins toward the end of the century.   Today, teaching people how to improve themselves is a business. A pure ruthless business where some people sell utter bullshit.   There are broke Instagrammers and YouTubers with literally no solid background teaching men how to be attractive to women, how to begin a start-up, how to become successful — most of these guys speaking nothing more than hollow motivational words and cliche stuff. They waste your time. Some of these people who present themselves as hugely successful also give talks and write books.   There are so many books on financial advice, self-improvement, love, etc and some people actually try to read them. They are a waste of time, mostly.   When you start reading a dozen books on finance you realize that they all say the same stuff.   You are not going to live forever in the learning phase. Don't procrastinate by reading bull-shit or the same good knowledge in 10 books. What we ought to do is choose wisely.   Yes. A good book can change your life, given you do what it asks you to do.   All the books I have named up to now are worthy of reading. Tim Ferriss, Simon Sinek, Robert Greene — these guys are worthy of reading. These guys teach what others don't. Their books are unique and actually, come from relevant and successful people.   When Richard Branson writes a book about entrepreneurship, go read it. Every line in that book is said by one of the greatest entrepreneurs of our time.   When a Chinese millionaire( he claims to be) Youtuber who releases a video titled “Why reading books keeps you broke” and a year later another one “My recommendation of books for grand success” you should be wise to tell him to jump from Victoria Falls.   These self-improvement gurus sell you delusions.   They say they have those little tricks that only they know that if you use, everything in your life will be perfect. Those little tricks. We are just “making of a to-do-list before sleeping” away from becoming the next Bill Gates.   There are no little tricks.   There is no success-mantra.   Self-improvement is a trap for 99% of the people. You can't do that unless you are very, very strong.   If you are looking for easy ways, you will only keep wasting your time forgetting that your time on this planet is limited, as alive humans that is.   Also, I feel that people who claim to read like a book a day or promote it are idiots. You retain nothing. When you do read a good book, you read slow, sometimes a whole paragraph, again and again, dwelling on it, trying to internalize its knowledge. You try to understand. You think. It takes time.   It's better to read a good book 10 times than 1000 stupid ones.   So be choosy. Read from the guys who actually know something, not some wannabe ‘influencers’.   Edit: Think And Grow Rich was written as a result of a project assigned to Napoleon Hill by Andrew Carnegie(the 2nd richest man in recent history). He was asked to study the most successful people on the planet and document which characteristics made them great. He did extensive work in studying hundreds of the most successful people of that time. The result was that little book.   Nowadays some people just study Instagram algorithms and think of themselves as a Dale Carnegie or Anthony Robbins. By Nupur Nishant, Quora Profits from free accurate cryptos signals: https://www.predictmag.com/    
    • there is no avoiding loses to be honest, its just how the market is. you win some and hopefully more, but u do lose some. 
    • $CSCO Cisco Systems stock, nice top of range breakout, from Stocks to Watch at https://stockconsultant.com/?CSCOSEPN Septerna stock watch for a bottom breakout, good upside price gap
    • $CSCO Cisco Systems stock, nice top of range breakout, from Stocks to Watch at https://stockconsultant.com/?CSCOSEPN Septerna stock watch for a bottom breakout, good upside price gap
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.