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windsurfer

Best Books for Making $

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The book review section is not being used. There are all sorts of books on trading, but most contain just general advice and rarely show a backtested system that I have then successfully implemented. I have read over 100 books, but have only found about 5 books that have done this- mostly in the options trading area. My question is:

 

What books have you read that gave you a system or method that you then implemented and are still using to make $?

 

Bruce

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the book is now out of print, so its pointless me telling you the name or the author. all i will say is that the book contained a system that included the indicator settings and money management rules. it even told you exactly where to place your stops. following the rules in the book was so easy. i still use the system today and am making millions.

 

who ever thought trading would be as easy as finding a set of rules in a book to make so much money. trading is like following a recipe. easy.

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Nice sarcasm, Dude.

 

It is frustrating reading so many books that just repeat the same old BS. But some do change behavior. For example. I read Cordier and Gross's 2005 book with the misleading title of The Complete Guide to Option Selling. The title is misleading because is not "complete"- it only deals with commodities and I had no interest in them when I bought it. And it is too focused on trying to get customers for the author's company. (Of course, that's why they wrote it). But after I read it, I starting researching commodities, then tried some of the type of trades they discuss. And now- the majority of my income is derived from commodity option trades.

 

I definitely do NOT recommend this book for others- you need a lot of capital and patience, an understanding of option pricing and good software (I use OptionVue).. But, that book is the kind of example I was looking for when I started the thread- a book that changed your trading.

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unfortunately a lot of books only become books when they get fluffed out enough to become a book. Systems dont take a book to be divulged.

The classic of this is the turtle trading system.

 

The same old BS that gets trotted out is also often not BS- more often than not its ignored even though it works.....funny that.

 

One I liked was ""Trading systems that worked - Thomas Stridsman""

This will give you a great guideline to start.....

as for a trading system that works all the time with exact parameters to suit everyone that can be put into a book and sold that everyone thinks is the holy grail - ---- dream on. :)

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I agree, Siuya. The Stridsman book was helpful for me when I was first trying to build TS systems. I found the title misleading- it should have been "How to build and evaluate systems" rather than "systems that work."

 

Thanks for the reminder! (I think it is time to re-read it).

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Dear Windsurfer

You ask a most interesting question"What book has helped in your trading that you still use today?"

The replies are indeed minimal.Either nobody reads , or the books they read dont make lasting profits.

e= mc2 is quite simple

The speed of light squared is such a big number, you require a very small mass to give you a huge amount of energy. Now go and make an atomic bomb. Of course you cant!!

Just like all these trading books wont make you a trader.They are simply a guide

Let me offer another example

"How to learn French in 20 leassons"After many months of diligent study you go to Paris and ask"Where is the metro" in french

The frenchman wil tell you to get lost.He wont understand your accent.

You need a teacher / guide / mentor to help you.

Just like in learning to trade. You need a mentor, and this mentor does not include the $5000 type

Hes a friend/ colleague who looks over your shoulder and corrects your actions. And until you get this type of help, you will not make a living.

For the sake of completeness I offfer Brooks "Reading price charts bar by bar". It helped

Kind regards

bobcollett

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the book is now out of print, so its pointless me telling you the name or the author. all i will say is that the book contained a system that included the indicator settings and money management rules. it even told you exactly where to place your stops. following the rules in the book was so easy. i still use the system today and am making millions.

 

who ever thought trading would be as easy as finding a set of rules in a book to make so much money. trading is like following a recipe. easy.

 

Hi TheDude,

 

Though the book is still out of print, I would like to request to share the name of the book and the author. Members may be able to find it online.

 

Thanks and best regards,

Fxheaven

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Hi TheDude,

 

Though the book is still out of print, I would like to request to share the name of the book and the author. Members may be able to find it online.

 

Thanks and best regards,

Fxheaven

 

He was being sarcastic...

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the book is now out of print, so its pointless me telling you the name or the author. all i will say is that the book contained a system that included the indicator settings and money management rules. it even told you exactly where to place your stops. following the rules in the book was so easy. i still use the system today and am making millions.

 

who ever thought trading would be as easy as finding a set of rules in a book to make so much money. trading is like following a recipe. easy.

 

"Those who say ,dont know, and those who know , dont say"

bobcollett

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dear windsurfer,

market is chaos,so there is not a methods to making money forever,the only unchanged is change.so all principles the book give us is short-lived,because market had changed.

if you are interested,i recommend "the tao te ching" by Laozi in china,or "chaos",it tell you how to feel the change and unchange.

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Here are the books that have helped me

 

"Trading in the Zone"

Jesse Livermore's Books are a great read there are a couple

Hedge Hogging

Jim Cramers Confessions of a Street Addict

Art of Trading

The Bible

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Dear Windsurfer

 

For the sake of completeness I offfer Brooks "Reading price charts bar by bar". It helped

Kind regards

bobcollett

 

Bob-- you might be interested to know an updated edition of Reading Price Charts Bar by Bar is supposed to be released sometime this year. As you noted, it's a helpful book. I also found it helpful but it's a tough read due in part to run-on sentences, etc. Al Brooks acknowledged the fact and that is one of the reasons why the book is being re-released.

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I didn't read trading books I studied them. They don't make you a trader because they don't tell you how to apply. Some books say tick is important or fade the tick extremes. The question is when do you do that with which stock and for how long? Books never tell you the complete truth, they only provide some of the truth and the more you last in this business you start learning and making your own observations

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The Universal Principles of Successful Trading by Brent Penfold

 

I love this book. Although it doesn't teach you about specific entry and exit methodology , it does teach you essential knowledge on expectancy, financial ruin , psychology and money management. I love the money management part. Definitely a must-read.

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Hi TheDude,

 

Though the book is still out of print, I would like to request to share the name of the book and the author. Members may be able to find it online.

 

Thanks and best regards,

Fxheaven

 

 

eeer i think it was by jim cramer - may have been jim rogers. could have been jim urma blume. maybe it was steve nisson?

 

 

anyway, the good news: im selling my copy of the book. remember its out of print so you cant get it on amazon. how much will you be willing to pay for my book? remember it hash a detailed working system, back tested results as proof, the authors audited brokerage statements, and remember it still works today.

 

put your bids here.....

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my favorites and go to material, no specific order

 

Mastering the Trade - John F. Carter

Reading Price Action Bar by Bar - Al Brooks

Fibonacci Trading - Carolyn Boroden

Candlestick Charting Explained - Gregory L. Morris

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In my opinion the best books you will ever use benefit from them enjoy them are cooking books…

 

Hi khamore

Thats a brand new idea ......................cooking books for trading

When it says "add salt" , you buy

"Leave in oven for 30minutes" , you hold

"Serve with jam" , you sell

Easy

regards

bobc

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…the paucity of suggestions – sign of enlightenment or sign of barren conditions in the trading book field ?

 

For the noobs, I will try to expand on what izzhamu was sort of getting at above. There is a relatively brief stage of trader development where ravenous reading is indicated… but…do not read trading books for content. Read trading books as a way to bring up into your conscious awareness from somewhere deep within you what you really already know… then you can make a deliberate choice about whether or not to act upon it.

 

...also, for many, it would be best to look for trading books about taking $ instead of "for Making $"

 

 

:missy:

thread r.i.p.

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