Best books on Trading/life in Wall Street?

Swan Noir · Sep 20, 2013

Not a classic ... THE classic. It is also a terrific read. Effortless yet as deep as it gets. He perfectly illustrates the cost huge of being to early as well as a dozen other pittfalls.

Timeless. Beautifully written in simple prose with no (absloutely no) artifice. AAA all the way!!

Quote from TrendPlayer:

seems cliche but Reminiscence of a Stock Operator is a must read for any trader

slumdog · Sep 20, 2013

Quote from Cdntrader:

the only book.

No!

The problem is that Livermore didnt have good money mangement, he doesnt talk much about getting smaller when things are going badly.

This is why he blew up so many times.

So you need to read other books as well as RoaSO.. Market Wizards is good one to add to list. Guys like PTJ and Seykota and many others talk about getting smaller and playing great defence. Some thing that Livermore hardly ever emphasizes. (He does talk about scaling into positions, which is great, but nothing at all about cutting back total size when in a losing streak). Tell me if i missed this.

Mattycakes · Sep 20, 2013

Quote from drm7:

Street Freak, by Jared Dillian.

I second. Spot on portrayal about life in a bank (albeit one with seemingly no risk mgmt).

Also, 'Traders, Guns and Money', 'The Poker Face of Wall Street', and 'Ugly Americans', the later a portrayal about trading in Japan.

ktmtrader · Sep 21, 2013

In no order of importance, but these are the books, I leaf through over and over to improve as a trader.

1. Trading in the Zone - Mark Douglas.

2. Trading to Win - Ari Kiev

3. High Probability Trading - Marcel Link

4. Pit Bull - Marty Schwartz

5. Market Wizards - Jack Schwager

6. More Money than God - Sebastian Mallaby

7. The Practicing Mind - Thomas M. Sterner

8. A Strategy for Daily Living: The Classic Guide to Success and Fulfillment by Ari Kiev

9. The Disciplined Trader - Mark Douglas

Swan Noir · Sep 21, 2013

No, you haven't really mised anything in that regard. But remember he has read a number of books and intends to read a number more. No one should have an expectation of getting it all from a single book. It's a wonderful book written by a larger than life character that no one in their right mind will pattern themself after.

There is tons of good, practicle and timeless information in the book and, as I said earlier, it's a great read -- smooth as silk. He lived large and played it large and anyone who is past his teens that does not understand that if you live by the sword you shall, in all liklihood, die by the sword is simply an imbecile.

Quote from slumdog:

No!

The problem is that Livermore didnt have good money mangement, he doesnt talk much about getting smaller when things are going badly.

This is why he blew up so many times.

So you need to read other books as well as RoaSO.. Market Wizards is good one to add to list. Guys like PTJ and Seykota and many others talk about getting smaller and playing great defence. Some thing that Livermore hardly ever emphasizes. (He does talk about scaling into positions, which is great, but nothing at all about cutting back total size when in a losing streak). Tell me if i missed this.

Pekelo · Sep 21, 2013

Quote from slumdog:

No!

The problem is that Livermore didnt have good money mangement,

Just imagine how boring the story would be without failures? By the way I am surprised Hollywood hasn't picked up the storyline yet.... Could be a much more interesting Great Gatsby

TrendPlayer · Oct 22, 2013

For the Advanced -- Dark Pools: The Rise of the Machine Traders and the Rigging of the U.S. Stock Market

By Scott Patterson

http://www.amazon.com/Dark-Pools-Ma...UTF8&qid=1382452107&sr=1-1&keywords=dark+pool

gmst · Oct 22, 2013

Quote from TrendPlayer:

For the Advanced -- Dark Pools: The Rise of the Machine Traders and the Rigging of the U.S. Stock Market

By Scott Patterson

http://www.amazon.com/Dark-Pools-Ma...UTF8&qid=1382452107&sr=1-1&keywords=dark+pool

does anyone has a pdf copy of this book that they don't mind sharing.

I would appreciate. Thanks.

emg · Oct 22, 2013

Quote from gmst:

does anyone has a pdf copy of this book that they don't mind sharing.

I would appreciate. Thanks.

it only cost $18.31 or a paperback $11.58. can u afford?

P.S

wall street journal has a special $1 a week for 12 weeks. How cheap can that get

Occam · Oct 22, 2013

Quote from TrendPlayer:

For the Advanced -- Dark Pools: The Rise of the Machine Traders and the Rigging of the U.S. Stock Market

By Scott Patterson

http://www.amazon.com/Dark-Pools-Ma...UTF8&qid=1382452107&sr=1-1&keywords=dark+pool

The beginning of the book almost caused me to stop reading it (lots of finger-pointing, not much substance -- as if we don't see enough of that on ET); but the middle ~80%, on the early days of Datek and Island and other early ECN's, is fantastic.

It's an excellent history of how markets got to where they are today, both the good and the bad, with consequences both intended and unintended. Strongly recommended, especially for short-term traders who trade equities and, to a lesser degree, equities options.