Best trading book

I have read hundreds of books and these are my top 4. They are not for everyone but they are great books and very helpful to me. -

45 Years in Wall Street – Gann

How to Make Profits in Commodities – Gann

Reminiscences of a Stock Operator - Edwin Lefevre

New Market Wizards: Conversations with America's Top Traders - Jack Schwager

 

Im no guru but i heard Douglas' Trading in the Zone was a good one.
Havent read it myself yet.
Currently im reading Edwin Leferve.

 

Hi,

I'm currently reading Mark Douglas's Trading in the zone at the moment, just about finished. It has definitly opened up a whole new perspective to trading that i had not given any thought to. I think its a fantastic read, and i honestly think that it will improve my future trading 10 fold.

 

Hi again,

Just wanted to add that.... Far out i am strugglin towards the end of this book, first half couldnt put it down, second half cant pick it up. I am determined to finish it though.

I dont quite hold the same view as i did in my previous post so thought i had better say so.

 

He craps on a bit huh. He could have got his message across in about half the pages...

 

Damned good book!, but I think its best suited for people that have been trading for a little while and have experienced some of the emotions and made some of the mistakes mentioned in its pages.

Sprinter, Rowes: he does repeat himself a helluva lot but I think it really drums it into you, which is a good thing

Im currently working my way through Stan Weinsteins - secrets for profiting in bull and bear markets at the moment, its a little basic but im still pulling some great commonsense tips out of it.

with that said its probably the best beginner book ive read

Nick Radge's book really blew me away, the first chapters in this book set the basis for my trading plan and my risk management plan. I dont use elliot wave for trading so I cant really comment on that side of the book

 

Is that the 'Adaptive Analysis....' one?

 

Another of Nick's books, "Everyday Traders" is good too. When i first read it i didn't find it particularly useful, although certainly entertaining. However after doing the trading course, the futures course, as well as what i've learned about mechanical systems so far...i've gone back and read it again, and this time i've managed to pick out numerous valuable lessons from the book.

This would definatly interest some of the more experienced traders here...heck some of them might even be in the book!

Cheers,

 

Thats the one

 

Hi Canaussieuck,

Can I ask what Trading Course you are referring to???

Thanks,

Chorlton

 

Its called: "Building a Profitable Trading Plan Using Technical Analysis"

And the futures course is: "The Futures Market - Lessons From An Insider"

You can find more info here.

http://www.reefcap.com/reef_capital_courses.htm

Cheers,

 

Ah..... A Nick Radge course then.....

I might take a look at it then, as I like his approach with regard to his teaching approach.....

Thanks.....

 

Oh I forgot to mention the three months worth of email mentoring that comes with it too....to be honest I haven't used this yet, although I'm putting together a list of things to discuss with him.


Cheers,

 

Sweet, my brother's reading that one at the moment

 

Beyond technical analysis - Tushar Chande

It's one book that I havn't seen mentioned very often. I gained a lot of knowledge from it.

Great book for developing a mechanical plan, or improving one. Fairly heavy on statistical analysis so if that isn't your cup of tea...

 

Van Tharpe's 'Trade your way to financial freedom' is good from a systems and psychology point of view.

 

Mark Douglas "Trading in the Zone"


The book is designed to establish the right mindset for traders, and has to do this for a range of people - hence the latter segments may not appear as riveting as the first half, but the positive effects are often subtle, and it is vital to read the book cover to cover to get the full psychological benefit in sequence.

Then try re-reading it once you’ve read it cover to cover. It’s only later when you see the effect on your trading that you will really be able to get a feel for the full effect on your psychology.

Douglas I believe was very clever in how he constructed “Trading in the Zone”, and while it’s not the same as seeing him personally and having a tailored psychological session, as far as books go, it’s very effective across a range of different trading mindsets, and I suspect ultimately addresses most people's core needs.

Try to persevere; the ending is important as it brings together a range of aspects vital to establishing a “probabilistic mindset”.

I still have the "Five Fundamental Truths" and the “consistent winner” axioms stuck to my computer screens (and have had these for a few years now), and you wouldn’t believe how often I’ve looked down at them and applied the wisdom (especially “I pay myself as the market makes money available to me”).


Hope this helps.


Regards,


Magdoran

 

Thanks Canaussieuck........

 

Can anyone recommend a book on Technical Analysis? I am thinking of buying Chart Your Way to Profits: The Online Trader's Guide to Technical Analysis by Tim Knight