What books will you recommend to a starting trader?

[Frederick Foresight]

. I see tradeable short term trends in random data. Think u can trade it?

If it's tradable, then by definition you can trade it.

As for the "randomness" component, what may be random from a longer term perspective need not be so in the shorter, sweatier, knee-jerk term. I think the argument could be made that the psychological component is more prevalent in relatively shorter time frames than in the longer ones.

In any event, who decides on the line of demarcation between what is random and what is not random to the trader but the trader himself?

 

[marketsurfer]

If it's tradable, then my definition you can trade it.

As for the "randomness" component, what may be random from a longer term perspective need not be so in the shorter, sweatier, knee-jerk term.

Who decides on the line of demarcation but the trader himself?

I prefer to utilize the scientific method but heck random entries into directionally drifting random data can produce random profits.

 

[Frederick Foresight]

I prefer to utilize the scientific method but heck random entries into directionally drifting random data can produce random profits.

I edited my previous post before I saw this one that I am quoting. Please refer to the change.

As for your general dismissiveness, I think it's cool and really sets you apart.

 

[Frederick Foresight]

In general, I think people make more measured decisions in the fullness of time, all else being equal. Therefore, the psychological elements of fear and greed would likely have more traction in the shorter, sweatier term. I would hardly characterize that as random. While there may be some apparently random reasons for entry and exit in the shorter term, I hardly think randomness defines it.

 

[speedo]

Fred, it's not fair to confuse Surf with rational thought.

 

[truetype]

people make more measured decisions in the fullness of time... the psychological elements of fear and greed would likely have more traction in the shorter

Maybe, maybe not. Without evidence, that's just hot air.

 

[Frederick Foresight]

Maybe, maybe not. Without evidence, that's just hot air.

On balance, do you make your best decisions in the heat of the moment? Or are you generally better equipped to objectively value relevance and materiality when you can stand back and look at the bigger picture in a less hurried environment? I'm speaking about you, specifically. Please answer the question.

 

[truetype]

I've made plenty of poor decisions in all timeframes. In any case, bots control the short timeframes these days.

 

[Frederick Foresight]

I've made plenty of poor decisions in all timeframes.

Doesn't answer the question.

In any case, bots control the short timeframes these days.

Not in a vacuum, they don't. And the code is still written and tweaked by carbon-based organisms. As for surf's argument that the bots are writing their own code, again, it is not in a vacuum. And if it is, then the bots will all eventually converge on the same algo and no one will take the other side of the trades since they control the short time frames. And what is the long term but a compilation of shorter time frames spliced together? I think this argument might be headed for a wall. Good thing you're a crash dummy.

P.S. Love the avatar.

 

[murray t turtle]

Great little book, highlighting the key points derived from Jack Schwager's Market Wizards books. A CliffsNotes version of the four books totalling about 2,000 pages and comprising about five dozen interviews. Not a substitute for the series, but a great booster shot to help get your head straight if you should ever find it out of alignment. Also a great little intro for a beginning trader to read before deciding where and how to dig in.

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Amen and get all his Top Trader books. I got most of them new,....... except his hedge fund book; make sure the hedge fund lowers their bids, then buy @ your discretion. Most libraries have some of them; but they frown on the borrower doing ink underline$ of library book lines. LOL