Recommended reading?

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Old Mar 10, 2009, 8:35pm   #1
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Recommended reading?

What books would you recommend to a newbie trader? I suppose the three most important aspects are money management, technical analysis and development and evaluation of trading systems. I am messing since October 2008 with the stock market and still can't figure out what "studying the market" is. I find my self staring at the charts without understanding much, without knowing where to put my stops or even if I spot resistances and supports correctly . .

So, can someone please be so kind an recommend me books that helped them?
Thank you very much for your time
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Old Mar 10, 2009, 10:05pm   #2
 
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Get something on how markets behave: Wyckoff on price action (or Stan Weinstein for a softer view) and perhaps Dalton's Mind of the Markets for the Auction Market Theory view.

Get something on how how traders behave: Douglas's Trading in the Zone.

If you can find it somewhere get the Trend Dynamics course.

If an indicator other than price, volume, an ma or two, or a vwap is involved then run the other way.
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Old Mar 10, 2009, 10:09pm   #3
 
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All the answers to all the questions you will ever have about trading will be found in the following reading list. It's up to you to put the pieces together though;

Trading in The Zone/The Disciplined trader...Mark Douglas
Trading for a Living/Come into my trading room...Elder
The Tipping Point...Malcom Gladwell
The Black Swan/Fooled by Randomness...NNT
Why Things Fail...Paul Ormerod
Inside the House of Money...Steven Drobny
New Market Wizards...Jack Schwager
Reminiscences of a Stock Operator...Leverne
When Genius Failed...Lowenstein.
The Count of Monte Christo ..Alexandre Dumas

Others may have a different opinion.
G/L.
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Last edited by bbmac; Mar 11, 2009 at 1:51pm. Reason: added Elders Come into my trading room book
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Old Mar 10, 2009, 10:13pm   #4
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Originally Posted by bbmac View Post
All the answers to all the questions you will ever have about trading will be found in the following reading list. It's up to you to put the pieces together though;

...
The Count of Monte Christo ..Alexandre Dumas
That one is definitely in my reading list. Nice to know that now I have one more reason
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Old Mar 11, 2009, 1:47pm   #5
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Mastering The Trade By John Carter
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Old Apr 4, 2009, 6:01pm   #6
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Originally Posted by ektrader View Post
Mastering The Trade By John Carter
Agree. This book is brilliant, especially the part on trading psychology. It's somethine you can't find elsewhere. A must-read.
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Old Apr 4, 2009, 8:27pm   #7
 
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Was recommended this by an experienced trader, and have just acquired it:

"High Probability Trading", by Marcel Link.

Some of it may seem pretty basic, but then trading is pretty basic, and that's one of the lessons of this book, although not the only one by any means.

If you tend to trade anything that moves, every time it moves, then this might be one for you.
Oh yes, he has some interesting things to say about where to put stops.
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