good books on trading

This is a discussion on good books on trading within the Futures & Options forums, part of the Markets category; I feel one of the absolute best books out there on trading is by Mark B. Fisher "The Logical Trader". ...

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Old Dec 2, 2011, 3:21am   #31
 
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Re: good books on trading

I feel one of the absolute best books out there on trading is by Mark B. Fisher "The Logical Trader". And of course one must read "Trading in the Zone" by Mark Douglas, don't even click the mouse without reading this book or you will for sure go broke.
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Old Jun 5, 2017, 5:54pm   #32
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Originally Posted by eegozi View Post
1) Trading for a Living - Dr. Alexander Elder

2) Come Into my Trading Room - Dr. Alexander Elder

3) Supertrader - Dr. Van Tharp

4) Trade Your Way to Financial Freedom - Dr. Van Tharp

5) Technical Analysis for Financial Markets - John Murphy
Do any books make profitable traders?
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Old Apr 30, 2018, 2:26pm   #33
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Do any books make profitable traders?
No!

I think the best books are the Wizards as at-least they are entertaining, the others on technical analysis are just a waste because edges change over time.
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Old Apr 30, 2018, 2:53pm   #34
 
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No!

I think the best books are the Wizards as at-least they are entertaining, the others on technical analysis are just a waste because edges change over time.
is that a contradiction?

is the point of reading anything "about" trading to give yourself an edge over ignorance?

can you back test the conversations in the Wizards versus other technical books?
can you not forward test honed edges provided in updated technical books compared to generalised conversational narratives within the Wizard books?

are not all books going to lag realtime market edges ?

are you judging their idea of an edge with yours, youre focus maybe on edges that this other trader has yet to define for themself and they may not have access to knowledge that you do and they may not have the IQ you have

i think indicia are cr@p but many get along fine with them (pro tip: most dont!)
the trick of reading is not to copy someone elses edge but to see what yours is going to be .....you have to find it and start somewhere to find "it"

then again, youre right but youre dead right

just passing thru, dont mind me ......
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Old Apr 30, 2018, 3:15pm   #35
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I have used Technical analysis of stock trends which I found to be a comprehensive guide to basic TA.
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Old May 8, 2018, 5:50pm   #36
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Originally Posted by Joules MM1 View Post
is that a contradiction?

is the point of reading anything "about" trading to give yourself an edge over ignorance?

can you back test the conversations in the Wizards versus other technical books?
can you not forward test honed edges provided in updated technical books compared to generalised conversational narratives within the Wizard books?

are not all books going to lag realtime market edges ?

are you judging their idea of an edge with yours, youre focus maybe on edges that this other trader has yet to define for themself and they may not have access to knowledge that you do and they may not have the IQ you have

i think indicia are cr@p but many get along fine with them (pro tip: most dont!)
the trick of reading is not to copy someone elses edge but to see what yours is going to be .....you have to find it and start somewhere to find "it"

then again, youre right but youre dead right

just passing thru, dont mind me ......
I think the Wizards book teach you a lot about the psychology of good traders. You can't run ideas with it but you can pick up some hints here and there, plus it's a fun read. Keep in mind that most other books offering ideas only come up with indicator based systems, if I have to read another report about a moving average system evaluation I'm gonna shoot myself.
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Old May 8, 2018, 6:18pm   #37
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Any books about technical analysis would be a good start. Trend trading of Guppy MMA is a good one for me. To met the simplest form is using trend lines . People use many indicators and oscillators in their charts that just makes it more confusing. They end having paralysis analysis. Learning simple trend line analysis is the most simplest form to learn.

Pick 1 stock like JPM , V ,MA, SQ , MU, EL . Study their recent long term trends of their weekly vs the daily vs 4 hour , 2 hour , 1 hour, 5 minute charts. When see the trends on the weekly and daily we will see the trends and where to trade.

Here's a good video about trend lines.

Last edited by Mactheriverrat; May 8, 2018 at 6:27pm.
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Old May 9, 2018, 10:56am   #38
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There are various good books available regarding trading and they will be really helpful in learning trading. However, you cannot get trading experience from them. Hence, you should also try demo trading accounts.
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Old May 9, 2018, 11:54am   #39
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There are various good books available regarding trading and they will be really helpful in learning trading. However, you cannot get trading experience from them. Hence, you should also try demo trading accounts.
Live trading with real money is probably the best experience. In terms of books it is the same as forums, there is always something good out there. A simple idea or post can often lead you in the right direction.

A friend of mine says on any subject he will read 10 different books, often with different methodologies, then at the end he can make up his one mind which information is relevant. Same with trading books, get 10 to 20 books and you will see things from different angles.

I personally feel none of these books will make you a profitable trader but more investing research than can be useful.
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Old May 11, 2018, 12:58pm   #40
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Live trading with real money is probably the best experience. In terms of books it is the same as forums, there is always something good out there. A simple idea or post can often lead you in the right direction.

A friend of mine says on any subject he will read 10 different books, often with different methodologies, then at the end he can make up his one mind which information is relevant. Same with trading books, get 10 to 20 books and you will see things from different angles.

I personally feel none of these books will make you a profitable trader but more investing research than can be useful.
I completely agree with you, books will give you practical knowledge you can only have theoretical knowledge. So, if you want to gain some good knowledge and experience then this can be earned by trading only.
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Old May 14, 2018, 5:10pm   #41
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Originally Posted by Mactheriverrat View Post
Any books about technical analysis would be a good start. Trend trading of Guppy MMA is a good one for me. To met the simplest form is using trend lines . People use many indicators and oscillators in their charts that just makes it more confusing. They end having paralysis analysis. Learning simple trend line analysis is the most simplest form to learn.

Pick 1 stock like JPM , V ,MA, SQ , MU, EL . Study their recent long term trends of their weekly vs the daily vs 4 hour , 2 hour , 1 hour, 5 minute charts. When see the trends on the weekly and daily we will see the trends and where to trade.

Here's a good video about trend lines.
Guppy was an excellent source of some great MA systems and information for me in my forex strengthmeter work ....hes under-rated as a trader

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Old May 14, 2018, 5:16pm   #42
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I completely agree with you, books will give you practical knowledge you can only have theoretical knowledge. So, if you want to gain some good knowledge and experience then this can be earned by trading only.
theres a huge difference between a trader thats read 10 trading books and one who has read hundreds .....

dont kid yourselves gang ....a wide reading of trading techniques , traders , history of finance and trading , markets etc etc ....... is an advantage in my opinion.....just part of the person you are building

in fact it is extremely rare to find an expert or professional at the top of their field that is not also widely read in that subject ....even in sports its amazing how expert the superstars are ....even someone like Mike Tyson had an encyclopedic knowledge of pugilism....he didnt need it but he acknowledges it taught him a lot....

Mikes's a pretty smart guy and still has is credited with this quote.... one of my favourite sayings about life and anything pertaining to that .....it especially pertains to trading !

"Everyone has a plan.... 'till they get punched in the mouth"
Mike Tyson


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Old May 15, 2018, 2:19am   #43
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Guppy was an excellent source of some great MA systems and information for me in my forex strengthmeter work ....hes under-rated as a trader

N
Yes ,Guppy has good trading system.
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