Trading Books

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Negotiator

Hello!

I would like to know which you think are the best books on practical trading knowledge. I mean, books that deal with the task of trading the charts looking at the right edge of them, and with our money at risk.

I have heard that "Trading for a Living", by Dr. Alexander Elder, "The Master Swing Trader", by Alan S. Farley and "Candlestick Charting Explained", by Gregory L. Morris are good buys. Do you know of any other?

Thanks.

Negotiator
 
Originally posted by chasinfla
the trading athlete by hirschorn/murphy for the head aspects.
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chasinfla:

Interestingly I was giving it a look at at Amazon.com and I found those who bought this book also bought the ones I mentioned.

Apart from the pyscho aspect, do you know of other books on practical technical analysis? I mean, old timers are not doing rocket science. Instead I suppose their thinking is simple and that's the kind of info I am looking for - wisdom from the trenches, i.e., effective, simple and direct.

Regards,

Negotiator
 
actually, I have recently become interested in the classics, but I don't know the t/a ones well enough to recommend. Trader Vic is a good primer (Victor Sperandeo). I read something by LeBeau and Lucas a few years ago about system design....Oh, actually, Marty Zweig's book comes to mind...can't recall the title, but if I remember it was very comprehensive and his work is solid. Pit Bull is great (a biography not a text book but has some technical interpretations in it).

Don't worry. I trust lots of people will come to your rescue on this one.

Interestingly, one of the best things I've read, when I was just starting out, was a pamphlet that Oster Communications sent out with its Commodity Price Chart subscriptions. If you don't subscribe, I suppose you have to pay for it -- shoot, looks like Dow Jones bought them out...guess that one's a gonner (sure hope I have it around here somewhere....)

It's good to delve into t/a but I think the head game is at least as important....of course, a good handle on price and volume will help build your confidence.
 
Looks like Trader Vic doesn't get too into technical analysis. He mentions Edwards and McGee, though. I think that's a significant work in the field.
 
I posted this in another thread, but thought it more applicable in a thread devoted to books.

Rollo Tape Studies in Tape Reading
Humphrey Neill Tape Reading and Market Tactics
Humphrey Neill The Art of Contrary Thinking
Edwin Lefevre Reminiscences of a Stock Operator
Nicholas Darvas How I Made 2 Million Dollars Trading In the Stock Market

Marty Schwartz Pit Bull
Jack Schwager Market Wizards
Jack Schwager The New Market Wizards
Brokers, Bagmen and Moles
Charles MacKay Extraordinary Popular Delusions

Larry Phillips Zen and the Art of Poker
George Leonard Mastery
Mark Douglas Trading In the Zone
Robert Koppel The Intuitive Trader

Also don't underestimate the value of recording and reading through your trading journal regularly.
 
I have to plug 'Education of a Speculator' by Victor Niederhoffer. It's the 'Reminiscences' of our generation.

Money of the Mind, and The Trouble with Prosperity -- James Grant.

Proverbs -- God (anything by God is worth the read).
 
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