Trading Books

There are many good books out there.

Of course, this is just subjective, and a lot of people will not like/be bored with/disagree with some/all of them.

Some also say that you can't learn trading from a book.
That is true, but there are useful ideas in these books that one can incorporate into ones trading strategy.

Anyway, here are a few:

Marcel Link - High Probability Trading

An excellent book. Wriiten by a chap who ran a brokerage, so he has seen people make all the mistakes. Good stuff on correct use of indicators, and on trading in general.

Tony Oz - The Stock Trader

A trade-by-trade account over a four week period trading Nasdaq stocks. This is a bit of an eye opener for anyone who has not traded fast moving markets. His ability to monitor multiple positions is really pretty impressive IMHO.


Alan Farley - Master Swing Trader

A difficult writing style (quite odd actually) but there are some excellent ideas in this. All chart-driven. Maybe he should have had a better editor. Some people hate this book though (see reviews on Amazon.com)


Mark Douglas - Trading in the Zone

Nothing about charts or timing, all about getting into the mindset of a trader.


Nassar - Rules of the Trade

Good stuff on rules, discipline and performance measurement.


Elder - Trading for a Living

The first part of the book, on psychology, written by a practising psychologist makes this a must - read IMHO.


Vic Sperendeo - Trader Vic & Trader Vic II

Good stuff on the US Fed too. Fans of Von Mises will like his views on economics.


Van Tharp - Trade your Way to finacial Freedom

Pretty thorough treatment on expectancy, probability, performance measurement and a few systems examined too. (Tharp is a coach not a trader though).


John Piper - The Way to Trade.

A British writer for a change. Good in parts, especially the description of a real life FTSE options trading strategy.


Schwager - Market Wizards & New Market Wizards

Classics. Interviews with the stars of the trading world.


Lefevre - Reminiscences of a Stock Operator.

First published in 1923. This is timesless. A classic, shows you that crowd behaviour doesn't change, people do the same things again and again.

Quote:

"I did precisely the wrong thing," Livingstone notes. "The cotton showed me a loss and I kept it. The wheat showed me a profit and I sold it out. Of all the speculative blunders there are few greater than trying to average a losing game. Always sell what shows you a loss and keep what shows you a profit."

Just my opinion of course... DYOR.