best books you've read on trading

Read "Trading In The Zone".

Then read, read, read, read, read your charts.

Everything else is a waste of your time. You'd do far better to donate your time/money to an animal shelter.
 
Quote from FullyArticulate:

I disagree. I can sum it up in one sentence: simple automated technical systems don't work.

The rest of the book is very nice statistical analysis of WHY, but the final conclusion is that he tested thousands of automated systems, and none of them had any statistical validity.

He hints at "more complex systems do better", but then spends no time on that. I would have preferred to see the conclusion of the book be, "Here's what DOES work" rather than, "nothing works."
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I agree with the original poster. TA is by and large mostly rubbish. It tests very poorly over and over again. Over 90% of people use TA type indicators and over 90% of traders lose their money. It is hard to ignore the link.
 
Damn, until about a few years ago, I've read just about every book on the market. I was of the opinion that "knowledge is power". Well, kudos to such a naive optimism!

The only conclusion I came away from reading all those books is that most of them, if not all, are worthless crap. Only book worth remembering is High Probability Trading by Marcel Link, which outlines some concrete examples on practical strategies that can actually be implemented in everyday trading.

However, I encourage you to visit this noob's very own thread outlining the trading system that took him over 10 years to formulate (all for free, of course :D): Unholy Grail to Success.
 
MONEY MANAGEMENT IS THE TRUE KEY TO TRADING SUCCESFULLY AND THERE IS NO COHERENT MATERIAL ON THIS SUBJECT.

BECAUSE ...

IT'S A COMPLETELY INDIVIDUAL ISSUE (meaning it is 90% correlated to the way you actually are as a person)
 
Quote from alex.samant:

MONEY MANAGEMENT IS THE TRUE KEY TO TRADING SUCCESFULLY AND THERE IS NO COHERENT MATERIAL ON THIS SUBJECT.

BECAUSE ...

IT'S A COMPLETELY INDIVIDUAL ISSUE (meaning it is 90% correlated to the way you actually are as a person)
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Totally agree. Money Management is the only real 'plan', it's palpable, the markets are non-tangible without it. But as you say, it doesn't make good reading.....how can it?



Dackster.
 
Not looking for strategies, just a good book of definitions of trade types, what the different charts are plotting, what is an option, ETF, or whatever, how they work.

I guess a good technical book....what about one of those "For Dummies" books.

I have about 8k invested in non retirement accounts and can liquidate only about 5k, so apparently I have no idea what I am doing...only been playing with it for about a year.

Just moved my T. Rowe Mutual Fund (Spectrum Growth) and my E*Trade account over to ThinkorSwim, and I am just trying to start new and educate myself a little better.

Not real interested in day trades but would like to tweak my account on a weekly/bi-weekly basis. My goal is to make 500 bucks a month...for starters... with what I have invested.
 
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