Your top five daytrading books
- Thread starter Daal
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Oh, really? I have read both books, and I know it is very modern and hip these days to quote Sun Tzu; Musashi, somewhat less so. Please tell me that you are joking, or kindly explain how these books are meaningfully applicable to day trading without overreaching and resorting to overly obtuse generalities. Stated differently, what "applicable lessons" did these books teach you about day trading that you didn't already know? And was that the most effective way of conveying those "applicable lessons" (since you nominated these books among the top five).
Is it possible that we are spending a bit too much time glamorizing and mystifying the trading field?
FredBloggs
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funnily enough, i think the bible has some amazing passages that are relevant to trading and life - common wisdom aint so common as someone once said.
the book of proverbs especially.
eg.
discretion will protect you, and understanding will guard you (11)
(chose your trades with care, by learning about the markets)
many of them you have to put into the context of the market - replace Lord with market (hope thats not blasphemous!! - but i guess not as he is everywhere
)
oddly enough it was a joe ross book that drew my attention to the bible and its relation with trading wisdom.
Jesus loves you!!!
the book of proverbs especially.
eg.
discretion will protect you, and understanding will guard you (11)
(chose your trades with care, by learning about the markets)
many of them you have to put into the context of the market - replace Lord with market (hope thats not blasphemous!! - but i guess not as he is everywhere
)oddly enough it was a joe ross book that drew my attention to the bible and its relation with trading wisdom.
Jesus loves you!!!
What is the matter with you people? The initiator of this thread asked for a list of books to help him along on his way to intraday trading. And what do you give him? Atlas Shrugged, the Bible, The Inner Game of Tennis, The Book of Five Rings, The Art of War. Can you imagine someone embarking on his trading career with these materials? You should be ashamed of yourselves. Just how many Philosopher Kings does ET really need?
T-DOGG. How about "On broken ground, march quickly."? But not "On death ground, fight."!
Hello, John. Please say hi to my friend Hypostomus when you see him. In the meantime, kindly explain the latter quote in a trading context? I could be wrong, but it sounds a lot like holding on to a badly losing position or even averaging down. Of course, the beauty of obtuse and inapplicable references is that they can mean whatever you want them to mean.
P.S. Sorry, I was a bit preoccupied with what ES was doing when I initially responded to your post. On revisiting your post to me, it has just occurred to me that we are on the same side in this matter. My apologies.
I meant "Move on in chop", but DON'T hold a losing position to the death. Unfortunately, there is not much in Sun Tzu of use for trading IMO, as a trader must be able to be timid and cowardly. I much prefer Lao Tzu: "Bend like a reed in the wind" and "Make your wheels to go along old ruts."
P.S. Hypo is well-medicated and has not caused our staff any trouble in a long time. We learnt to keep him away from ET, as he is an excitable boy.
P.S. Hypo is well-medicated and has not caused our staff any trouble in a long time. We learnt to keep him away from ET, as he is an excitable boy.
This is all very fair comment, Thunderdog. He is indeed insightful and thought-provoking, but Joe Ross' books _are_ all pretty expensive, I know.
I don't pretend to understand the finances of book-publishing in any detail, but I think possibly the problem is that they necessarily appeal to only small numbers of traders because they're in no way "indicator-biased"; these days, indicators are what sells, because everyone wants to play with pretty technical toys and try to find shortcuts to wealth rather than being willing to put in the work needed to understand the behaviour of the markets (if you'll excuse the views of a young cynic
).This means that the comparatively few people who are going to buy the Joe Ross books are going to pay for them anyway (and once you've bought one, the reality is that you buy a few, because you realise pretty quickly that you've found something that Really Works), but because printing 1,000 books doesn't cost much less than printing 5,000, they're a bit expensive. I think.
I completely agree! Fine books, I dare say (and I've actually read two of them and struggled with parts of a third) but bugger all use for what the gentleman asked for!
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