£50 birthday gift from Captial spreads

[robster970]

Trading and exchanges is a must too.

especially if you are about DOM and also reveals a lot about brokers

Agree. The 4 books I rate are:

Trading & Exchanges (Larry Harris)
Reminiscences
Golf is not a game of perfect (Bob Rotella)
Mind over markets (James Dalton)

 

[DionysusToast]

Agree. The 4 books I rate are:

Trading & Exchanges (Larry Harris)
Reminiscences
Golf is not a game of perfect (Bob Rotella)
Mind over markets (James Dalton)

Not a bad list, although I think Reminiscences is a lot of crap. It's a work of fiction after all... It is all exciting because - well - that's what sells works of fiction.

I think you should replace Reminiscences with "Studies in Tape Reading" by Wyckoff, personally...

 

[DionysusToast]

Yes it is. One of the few exceptions, I think it is a truly exceptional book that everyone who is serious about trading for a living should read.

Why though?

People love it but it's a work of fiction.

It gives people a romantic view of a man working against 'the system' and coming good. Taking those nasty 'bucket shops' for a ride. Sticking it to the rip off artistes.

Even if it is based on the life of the Livermore, I've never seen any evidence that Livermore put in extensive input. Rather, it's written by Lefevre who's trading experience was????

We have to understand that to sell a work of fiction, it must be made exciting. That excitement, the way he turns a small amount into milllions - that's what people love about it. It feeds the dream.

Wyckoff on the other hand, well his book is 90 years old. It is a real gem in my opinion. It's not as exciting. There are no car chases. It's in a different class, mostly because it's non-fiction...

 

[DionysusToast]

I put it to you all that Lefevre was an evil vendor making money out of people by selling them an impossible, lofty dream.

And I should know....

 

[robster970]

I think you should replace Reminiscences with "Studies in Tape Reading" by Wyckoff, personally...

How can you say that - it's full of all sorts of sensible sh1t!

It's got a thin plot, little character development, written in the first person which is a simple trick to create greater engagement with the reader (it is hard to write like this), hardly any love interest, some bitter-sweet and spadeloads of trading rhetoric.

As a fictional book it is so dire that practically any author of note would probably use it to prop up their own monitors whilst they are writing their own materials.

To a trader though, it is like the 10 commandments, except many of the commandments reveal themselves over time.

:idea:Wait a minute DT - are you suggesting that we may, just may be looking for meaning where no meaning exists

 

[DionysusToast]

I think Lefevre hit the spot when he wrote it - after all, people are still clinging to it nowadays.

Lefevre should go down as one of the best marketeers ever.

He could have titled the book $10 -> $1,000,000 in 150 pages but he was smarter than that.

He'd probably have the whole internet/trading vendor market sewn up were he alive today.

 

[DionysusToast]

oh yes - I suppose I should give "Humphrey B Neill" a shout out too - as he's in my signature...

 

[The Leopard]

Why though?

People love it but it's a work of fiction.

It gives people a romantic view of a man working against 'the system' and coming good. Taking those nasty 'bucket shops' for a ride. Sticking it to the rip off artistes.

Even if it is based on the life of the Livermore, I've never seen any evidence that Livermore put in extensive input. Rather, it's written by Lefevre who's trading experience was????

We have to understand that to sell a work of fiction, it must be made exciting. That excitement, the way he turns a small amount into milllions - that's what people love about it. It feeds the dream.

Well, it's a fictionalised account, often very thinly fictionalised as it happens.

I don't think that people love it for any of the reasons that you give. It's not exciting, it's not dramatic, he doesn't stick it to the rip off artists. As for turning a modest stake into a very large one, he did. Unsurprisingly, he lost much of it afterwards, which is a useful lesson in itself.

I think they find it very useful and engaging because it is remarkably insightful in describing the pitfalls and mistakes that I think most people will make as they try to make a success of trading. It is very useful in helping one to overcome these.

Certainly countless real traders and investors have lavishly praised the book - Paul Tudor Jones, to give one example. Many have said that it is uncanny how closely the experiences and emotions recounted match their own when they are actually trading. The interesting thing is that the scale may of course be vastly different, but other than that the parallels are exact. This suggests a strong basic element of human nature to be overcome for those that actually trade.

Much of what the book points out is staggeringly obvious - once it has been pointed out. Again, this is something that many people who actually trade have noticed.

Of course, there are those that don't like the book - Black Swan was a prominent example. Some people were unkind enough to question his claims to actually trade, but that was probably just envy.

 

[The Leopard]

Not a bad list, although I think Reminiscences is a lot of crap.

I am not surprised that you are not a fan - as I say, and in contradistinction to what you said, the story is neither good nor exciting, and you would of course find no practical use for it.

But if you don't like that book, I heartily recommend this, available from Amazon. I am sure you will find it both enjoyable and useful.

Reminiscences of a Stock Operating Manual Vendor

I particularly like the part where the hero, one Mr Grilledbread, describes how he poses as a stock operator to sell his manuals.

It is priced at only $4,000, although at the moment they are doing a special offer if you order today - it is priced at only £3,999.99, but you must order immediately to take advantage of this discount.

Only 89 copies will ever be produced due to strict Third Reich publishing laws, so order now to avoid disappointment.

 

[alphadude]

I am not surprised that you are not a fan - as I say, and in contradistinction to what you said, the story is neither good nor exciting, and you would of course find no practical use for it.

But if you don't like that book, I heartily recommend this, available from Amazon. I am sure you will find it both enjoyable and useful.

Reminiscences of a Stock Operating Manual Vendor

I particularly like the part where the hero, one Mr Grilledbread, describes how he poses as a stock operator to sell his manuals.

It is priced at only $4,000, although at the moment they are doing a special offer if you order today - it is priced at only £3,999.99, but you must order immediately to take advantage of this discount.

Only 89 copies will ever be produced due to strict Third Reich publishing laws, so order now to avoid disappointment.

Special Offer: if you are a McSagbooby turtle; you can get a free copy.

Send us the following details to claim your copy:
- your name,
- how much you were funded by Sagbooby;
- how much return you made on the experiment
- how many elephants were there in the office
- are you a phone sales man now

 

[The Leopard]

Special Offer: if you are a McSagbooby turtle; you can get a free copy.

Send us the following details to claim your copy:
- your name,
- how much you were funded by Sagbooby;
- how much return you made on the experiment
- how many elephants were there in the office
- are you a phone sales man now

Although from what I heard there are no telephone sales any more (apparently the phones were disconnected for non-payment of bills).

 

[The Leopard]

Really...I'm sure Livermore gets a mention in 'THAT YOUTUBE VID'

Greatest video of all time bud mate bud.

But Teh Swanster (who can trade off any TF, even the smalls) was no fan of that book. See his review here:

Speilberg should do it, which T2W poster is ugly enough to play the lead role?

2/10

Cracking read, brilliant piece of writing, part fiction part biography, highly entertaining. Later versions with addendums and annotations increase the enjoyment.

The current zeitgeist is to be 'smart' enough to discover the hidden meaning for retail traders, there is none, as a bible it's as impotent as other comfort blankets; Trading in the Zzzone etc...

Whilst the mindset of the trader may not have evolved over time, the methods employed have. In terms of relevance Jesse was a top level player of that there's no doubt, but he had more in common with Philip Green of Arcadia than Morgan Sze (formally of Goldman Sachs).

I think Penfold was just disappointed though. He ordered it in a hurry thinking it was Reminiscences of a C0ck Operator - the true story of a daring pen1s enlargement surgeon, with tips on how one can increase the size of one's own tip.

Now get to fook you damaged subterranean multinic rampton fooktard c11nt troll, and spread your madness across another suite of forums.

 

[VielGeld]

Reminiscences is good because you can relate to it as a trader. Maybe not the making of millions yet, but it's got the journey stuff down pat.

That's why it's sold so well.

 

[ChocolateDigestive]

reminiscences is a great book end of. anyone who says different is clearly retarded I really cannot be a55ed to argue with lo5ers who have the misfortune to diss greatness. I don't know anyone who has read it and can honestly say they got nothing out of it. it's not a textbook and it's not meant to be. now run along and get back to selling your fap turbos. honestly....

 

[ChocolateDigestive]

now back to tarding after that pathetic exam is out of the way, locked up in a room with 17 year old girls taking their driving theory, hard to concentrate on the task in hand. some of them are hot but now I am 35 they could almost be my daughter. note to self - don't turn into a dirty old man.

FTSE daily chart price approaching yesterdays low of 5730, could put us into the next downward leg, want to see price below 5730 before considering a short. bias short but will see how things play out.

 

[ChocolateDigestive]

1 tarde +15.3 points. Lulz account now £204.11.

 

[counter_violent]

1 tarde +15.3 points. Lulz account now £204.11.

Good stuff.

Just a quick point here ref ftse and dow aka barjon and his method of looking at difference. Even though the index's sold off quite heavily today, once they finally got started, It was interesting to note that whilst the dow was dropping like a brick, the ftse was holding up quite well. This in turn can create opportunity as the difference widens. Something has to give...either the ftse drops dramatically to play catch up, or the dow bounces and comes back well in order to narrow the difference.

We can see what happened after 19.30 hrs.
Charts shows difference from a prior fixed reference point.

Edit:- forgot to add. The way to play this would be long dow (1xstake) and short ftse (2xstake), this assumes 2xftse points for 1x dow, so that regardless what price does you have a good chance of closing with an overall profit.(most of the time)

 

[ChocolateDigestive]

Nice. I have noticed on breakouts if 2 of DJ, FTSE & DAX breakout then the chances of the other one breaking out are damn high. blinking obvious though innit.

 

[counter_violent]

Nice. I have noticed on breakouts if 2 of DJ, FTSE & DAX breakout then the chances of the other one breaking out are damn high. blinking obvious though innit.

Yep, so obvious in fact that nobody ever talks about it

 

[ChocolateDigestive]

Yep, so obvious in fact that nobody ever talks about it

Oops let the cat out of the nazi box.

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