Books for Trading

manny.here

Well-Known Member
#2
Trading psychology books to help you trade better

1,trading in the zone — by mark douglas
2. The disciplined trader — by mark douglas
3. The daily trading coach: 101 lessons for becoming your own trading psychologist – by brett n. Steenbarger
4. The psychology of trading: Tools and techniques for minding the markets – by brett n. Steenbarger
5. 12 habitudes of highly successful traders – by ruth barrons roosevelt
6. Investment psychology explained: Classic strategies to beat the markets – by martin j. Pring

7. High performance trading: 35 practical strategies and techniques to enhance your trading psychology and performance – by steve ward
8. The way of the warrior-trader: The financial risk-taker’s guide to samurai courage, confidence and discipline – by richard mccall
9. The 21 irrefutable truths of trading: A trader’s guide to developing a mind to win hardcover – by john h. Hayden
10. Trading in the zone: Maximizing performance with focus and discipline – by ari kiev
11. Hedge fund market wizards: How winning traders win – by jack d. Schwager
12. The new market wizards: Conversations with america’s top traders – by jack d. Schwager
13. Reminiscences of a stock operator – by edwin lefèvre
14. What i learned losing a million dollars – by jim paul and brendan moynihan
15. Zen and the art of poker: Timeless secrets to transform your game – by larry phillips
16. Thinking, fast and slow – by daniel kahneman
17. Letters from a stoic – by lucius annaeus seneca
18. How we know what isn’t so: The fallibility of human reason in everyday life – by thomas gilovich
 

manny.here

Well-Known Member
#3
In my view if you start with this book you will have a very good start in your understanding. This book is lucid and covers things comprehensively.

Adam Grimes - The Art and Science of Technical Analysis - Market Structure, Price Action and Trading Strategies

Good thing is that Adam Grimes has his own website & blog where he has shared free videos for educational purposes.

http://adamhgrimes.com/TAAS/

Happy Trading !!
 

manny.here

Well-Known Member
#7
A dream of every trader to have a copy of "Come into My Trading Room" by Elder Alexander.

Hence, very useful "Pearls from his Best Work" is here. A lot of doubts sprung up my mind while I was going through this work. I felt the need to consult seniors over in this forum to clarify my doubts on the concepts. I am giving below the contents of his work.

Donot miss it, friends.

My humble request to seniors to respond to my querries as and when I put them over here.

CONTENTS

Introduction http://www.traderji.com/books/36263-pearls-come-into-my-trading-room-elder-alexander.html#post393057

I.HOW THIS BOOK IS ORGANIZED http://www.traderji.com/books/36263-pearls-come-into-my-trading-room-elder-alexander.html#post393348

MALE OR FEMALE? http://www.traderji.com/books/36263-pearls-come-into-my-trading-room-elder-alexander.html#post393767

PART ONE

FINANCIAL TRADING FOR BABES IN THE WOODS

Invest? Trade? Gamble?
AN INTELLIGENT INVESTOR
AN INTELLIGENT TRADER
AN INTELLIGENT GAMBLER?

II What Markets to Trade?

STOCKS
FUTURES
OPTIONS

III The First Steps

THE EXTERNAL BARRIERS TO SUCCESS
GETTING YOUR GEAR
ANALYSIS AND TRADING

PART TWO THE THREE M’S OF SUCCESSFUL TRADING

IV Mind—The Disciplined Trader

SLEEPWALKING THROUGH THE MARKET
A REMEDY FOR SELF-DESTRUCTIVENESS
THE MATURE TRADER

V Method—Technical Analysis

BASIC CHARTING
INDICATORS—FIVE BULLETS TO A CLIP


VI Trading

SYSTEM TESTING
TRIPLE SCREEN UPDATE
DAY-TRADING
THE IMPULSE SYSTEM
MARKET THERMOMETER
EXITING TRADES
CHOOSING WHAT TO TRADE

VII Money Management Formulas

NO MATH ILLITERATES
BUSINESSMAN’S RISK VS. LOSS.
THE 2% SOLUTION—PROTECTION FROM SHARKS
THE 6% RULE—PROTECTION FROM PIRANHAS
POSITION SIZING
MONEY MANAGEMENT STEPS

PART THREE COME INTO MY TRADING ROOM

VIII The Organized Trader

TRADER’S SPREADSHEET
THE EQUITY CURVE
TRADING DIARY
ACTION PLAN

IX Trading for a Living

DISCIPLINE AND HUMILITY
HAVE YOU GOT THE TIME?
THE DECISION-MAKING TREE
BEGINNER, SEMIPRO, PRO
GOING PRO

X Come Into My Trading Room

EXCERPTS FROM THE DIARY
YOUR NEXT TRADE

Save the attached file, if you do already not have a copy.
 

manny.here

Well-Known Member
#8
Friends ,

Im writing this post for the non-day traders.

First some warning:
Before buying ANY book recommended on any web site, it is better to get its user review's(one way to do this will be to check out the book at online web site like Amazon.com and read what people have to say about the book). Amazon rates its based on user votes. Preferrably buy only those books which have 4 star ratings.

Now some ground rules:
I would like to break down the recommended listing of books as per the current understanding level of the reader(or his current stage). Here im recommending the set of books which i personally feel would help all you budding Analyst's or traders.

Here we go ......
Belive me, at the end of the day, Technical Analysis is not as tough as it is made out to be. Just using some common sense & a level head, and applying a few good/common rules should help any position trader any time. I belive in the KISS strategy (keep It Simple Stupid). Understand the basics, keep a simple strategy and trade with your head (and not your heart). I again repeat, dont complicate things. Work with the strategy that is working for you (atleast dont discard it day one for another strategy). Dont listen to TV or people. Always use your head and make a decission. At the worst you will loose money which will make you sit up and sort out the mistakes in your trade.

But people somehow are led to belive that using advanced technical indicators will somehow enhance their stock picks. They invariably complicate the whole process beyond its worth.

Im sure many would pounce on me for making this statement but just think about it. Well known traders in past never had the sophisticated tools that we have at our disposal today. So my list is geared towards the simple and effective ways of stock picking.


Stage 1- Traders Mindset: This stage constitutes of the new or novice traders. At the first stage it is important for you to get in the skin of the professional traders and understand their mind set or physcology or whatever you prefer to call. This book will keep you from making the mistakes most commonly made by novice traders (NO .. nothing to do with technical analysis.. but just plain old do-don't rules). Hard as it may seem BUT dont move to the next stage until and unless you completly understand the way a trader operates. Here is my list of books which will help you prepare for this:

1. How I made $2,000,000 In The Stock market - Darvas.
2. The Battle For Investment Survival - Loeb.
3. Reminiscences of A Stock Operator - Edwin Lefevre
4. Market Wizards - Schwager
5. Trading For A Living - Alexander Elder

Stage 2 - Trading Strategy : Having understood the mindset of a trader's its now time to also understand the strategy adopted by this traders. Yes .. another list of exhaustive books ... this books detail the various strategy used by this traders, many of which will overlap, but each is a gem of its own. Some of the books also are centered towards US stock markets. Some of this books recommend tools which will be ubavailable in INDIA and hence of not much use to you. None the less .. read this books simply to gain a insight in the different ways of trading.

1. How to Trade in Stocks - Jesse Livermore. Its a Classic.
2. Secrets for Profitting In Bull and Bear Markets - Stan Weinstein.(I recommend it heavily to my friends). It sounds costly but buy it and you wont regret.
3. The Successful Investor - William O Neil. (ONeil's books are heavily laced with advertisements for his financial news services but none the less he gives very level headed and simple advice which actually helps.
4. Come into my trading room - Elder. Its a Classic.
5. Trade your way to financial freedom - Van Tharp (Its worth only for the chapter on position sizing). I recommend it purely because position sizing though a important defence strategy used by professional traders is hardly ever used by amateur traders. Read this book and you will know why i recommended this book.


Stage 3 - Technical Analysis :
Many a books are available for TA. I kept this section for the last as i feel that buying one or two of this books can suffice.

1. Japanese Candlestick Charting - Second Edition - Steve Nission
2. The Visual Investor - Murphy
3. Trading Classic Chart Patterns - Thomas Bulkowski (its a hugh encyclopedia .. not worth buying if you belive in the KISS strategy.. read it for your exams)
4. Getting Started In Technical Analysis - Schwager
5. Technical Analysis of the Financial Markets - Murphy

OR
6. Edward and Maegie .... just pick up this classic book. period.

The above books are mentioned in random order. I hope this will help users in selecting books as per their understanding stage.

But for those new to TA or stock investing and not willing to invest in books, i suggest them to read through many fundamantal and technical tutorials available on many a site ... sharekhan.com had a vast array of tutorials ... also check out : http://www.investopedia.com . Check out the online tutorials and once you are comfortable, invest in the books.

Before i sign off .... Dont buy books simply because they were mentioned here. Check out how this books were revieweed by other users. Ask about this books on online communities like this.

Stumper.
 

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