Hitman,
I have had a similar search, and always thought one day I would be trading many instruments, stocks, futures, forex, etc. Basically running my own global hedge fund, just not with anyone else's money. Who knows if it will ever happen. I just want to be really good at one thing now. But it is always good to set high goals.
A few books I've read (well, except one) to add to your list:
1) Fundamental Analysis. Personally I've never cared about fundamental analysis. But I suppose there is a place for it if you plan to take longer term positions. I don't know any good books for stocks, but if you want to learn about futures fundamentals, Jack Schwager (of Market Wizard fame) wrote "Schwager on Futures: Fundamental Analysis". This one I haven't read, but I've been told its quite thorough.
2) Futures. My favorite book on futures is "The Futures Game: Who Wins, Who Loses, & Why" by Warwick, Tewels, and Jones. Its in its third edition I think, so its not brand new, but it covers most of the important topics regarding futures trading.
3)Options. The extent of my options trading has been a few long positions and some covered calls. However, I found that Lawence McMillan's "McMillan on Options" and "Options as a Strategic Investement" seemed to be the Bible of options strategies. Someone with more options experience, like ArchAngel or zboy might have a better recommendation.
4)Commodities. See the above entry for futures. By the way, commodities are not easier to trade than stocks, just different. Some may trend more or have other characteristics that you like and better fit your style. However, it is difficult to trade intraday, because many commodities are illiquid and heavily manipulated in the short term. I traded wheat for awhile and had my head handed to me. Of course, I've learned a lot more since that experience but have had no desire to try again. Many of the great commodity funds made their names because they caught the huge trends of the 1970's and 80's. They got lucky, and when the markets quit trending they got killed. Kinda like many EDAT traders have experienced the last year or so. But in a diversified portfolio, there is probably some room for it.
5)Bonds. I agree with Hoyler. John Murphy's book really opened my eyes to how bonds and stocks interact with each other and their effects on other markets.
6)Economy. Can't recommend any specific books here, but a basic macroeconomics textbook, while boring as heck (I can say that, it was my major in college
) will fill in many of the gaps that you wouldn't have without some econ coursework in college.
7)Currencies. I've looked high and low for good books on currencies. The best I've found is "Trading in the Global Currency Markets" by Cornelius Luca. I don't have much to compare it to as there isn't much else out there. Also, I found the interviews in the Market Wizards books with the currency traders very informative.
8) Business management. While I highly recommend getting a business degree, given your past history in college and your dislike for it, there are other sources. For the quick and dirty stuff, you should look at the Portable MBA series. There are books in this series on various topics from investment to business management. Every Barnes and Noble carries several of these in the business section.
Finally, one last book I read recently that I found interesting in that it lays out a strategy for global investing (when you finally have the REALLY BIG BUCKS to move around) is "The Hedge Fund Edge" by Mark Boucher. I believe he runs a hedge fund and gives a lot of insight into models he uses for allocating his capital around the globe. He uses it all...equities, bonds, currencies, futures...the ultimate trader heaven.
Best of luck to you in what will be a very enlightening pursuit.
Hope this helps,
Kirk
I have had a similar search, and always thought one day I would be trading many instruments, stocks, futures, forex, etc. Basically running my own global hedge fund, just not with anyone else's money. Who knows if it will ever happen. I just want to be really good at one thing now. But it is always good to set high goals.
A few books I've read (well, except one) to add to your list:
1) Fundamental Analysis. Personally I've never cared about fundamental analysis. But I suppose there is a place for it if you plan to take longer term positions. I don't know any good books for stocks, but if you want to learn about futures fundamentals, Jack Schwager (of Market Wizard fame) wrote "Schwager on Futures: Fundamental Analysis". This one I haven't read, but I've been told its quite thorough.
2) Futures. My favorite book on futures is "The Futures Game: Who Wins, Who Loses, & Why" by Warwick, Tewels, and Jones. Its in its third edition I think, so its not brand new, but it covers most of the important topics regarding futures trading.
3)Options. The extent of my options trading has been a few long positions and some covered calls. However, I found that Lawence McMillan's "McMillan on Options" and "Options as a Strategic Investement" seemed to be the Bible of options strategies. Someone with more options experience, like ArchAngel or zboy might have a better recommendation.
4)Commodities. See the above entry for futures. By the way, commodities are not easier to trade than stocks, just different. Some may trend more or have other characteristics that you like and better fit your style. However, it is difficult to trade intraday, because many commodities are illiquid and heavily manipulated in the short term. I traded wheat for awhile and had my head handed to me. Of course, I've learned a lot more since that experience but have had no desire to try again. Many of the great commodity funds made their names because they caught the huge trends of the 1970's and 80's. They got lucky, and when the markets quit trending they got killed. Kinda like many EDAT traders have experienced the last year or so. But in a diversified portfolio, there is probably some room for it.
5)Bonds. I agree with Hoyler. John Murphy's book really opened my eyes to how bonds and stocks interact with each other and their effects on other markets.
6)Economy. Can't recommend any specific books here, but a basic macroeconomics textbook, while boring as heck (I can say that, it was my major in college
) will fill in many of the gaps that you wouldn't have without some econ coursework in college.7)Currencies. I've looked high and low for good books on currencies. The best I've found is "Trading in the Global Currency Markets" by Cornelius Luca. I don't have much to compare it to as there isn't much else out there. Also, I found the interviews in the Market Wizards books with the currency traders very informative.
8) Business management. While I highly recommend getting a business degree, given your past history in college and your dislike for it, there are other sources. For the quick and dirty stuff, you should look at the Portable MBA series. There are books in this series on various topics from investment to business management. Every Barnes and Noble carries several of these in the business section.
Finally, one last book I read recently that I found interesting in that it lays out a strategy for global investing (when you finally have the REALLY BIG BUCKS to move around) is "The Hedge Fund Edge" by Mark Boucher. I believe he runs a hedge fund and gives a lot of insight into models he uses for allocating his capital around the globe. He uses it all...equities, bonds, currencies, futures...the ultimate trader heaven.
Best of luck to you in what will be a very enlightening pursuit.
Hope this helps,
Kirk
