bl82
UNITED STATES
Joined: Apr 18, 2004
Post Count: 97
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Re: Most Influential Books / Recommended Reading List
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Thanks to Ravi and others for keeping this thread going, which I started over a year ago. Ravi, I particularly appreciated the references and pointers that are specific to systems development.
Coming off of my worst month in a long time (on the heels of a great 1.5 years -- so don't worry), I am even more convinced than ever that money management, position sizing and risk management are my personal holy grail. For those that feel similarly or even wonder if they need to look at these things more closely, I highly recommend Trading Risk by Kenneth Grant.
Perhaps more importantly, I have started keeping track of what I have read in the past two years or so in a more methodical fashion and have come up with the list below. These book recommendations are books I have recently read and are loosely grouped into categories, with similarities in each group. Each book has two ratings -- based on a 10 point scale -- my (highly subjective) assessment of value for a beginning trader followed by my assessment for an experienced trader.
A relative newbie should probably proceed from the top group down as far as they can continue to get value, but, personally I'd make the top 11 required reading at the outset and suggest that among the others, you don't wait too long to read Mamis, Bulkowski and Grant, in particular.
Also, expect to reread many of these books as your knowledge base grows and you are able to pull different nuggets out of them.
Finally, you will find some bias here as it relates to my being an active trader (in addition to a LT investor) who focuses largely on position trading and has been using more T&A over the past few years.
Introduction and Context Market Wizards: Interviews with Top Traders (Jack Schwager) – 10/8 The New Market Wizards: Conversations with America's Top Traders (Jack Schwager) – 10/7 Stock Market Wizards: Interviews with America's Top Stock Traders (Jack Schwager) – 10/7
Anecdotal / Historical How I Made 2,000,000 in the Stock Market (Nicholas Darvas) – 9/5 Reminiscences of a Stock Market Operator (Edwin Lefevre) – 9/9
High Level, How To: The Short List Fooled By Randomness (Nassim Taleb) – 9/8 Trade Your Way to Financial Freedom (Van Tharp) – 9/9 Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications (John Murphy) – 9/6 Japanese Candlestick Charting (Steve Nison) – 8/8 The Successful Investor: What 80 Million People Need to Know to Invest Profitably and Avoid Big Losses (William O’Neil) – 8/6 High Probability Trading (Marcel Link) – 9/9
High Level, How To: The Second Tier Trader Vic--Methods of a Wall Street Master (Victor Sperandeo) – 8/8 How I Trade for a Living (Gary Smith) -- 7/6 Trend Following: How Great Traders Make Millions in Up or Down Markets (Michael Covel) – 6/5 The Education of a Speculator (Victor Niederhoffer) – 7/7 Practical Speculation (Victor Niederhoffer) – 6/6
Detailed Individual Approaches Fire Your Stock Analyst: Analyzing Stocks On Your Own (Harry Domash) – 8/5 …OR… ...Screening the Market (Marc Gerstein) – 8/5 How to Take Money from Wall Street: Learn to Profit in Bull and Bear Markets (Tony Oz) – 8/7 Trade Like a Hedge Fund: 20 Successful Uncorrelated Strategies & Techniques to Winning Profits (James Altucher) – 7/5 The Logical Trader (Mark Fisher) – 7/7
Too Often Overlooked: Managing Exiting Positions When to Sell (Justin Mamis) – 9/9 It’s When You Sell That Counts (Donald Cassidy) – 8/8
Risk Control and Money Management Trading Risk: Enhanced Profitability through Risk Control (Kenneth Grant) – 8/9
Value Investing Bible The Intelligent Investor (Benjamin Graham) – 8/8
Thought Starters The (Mis)Behavior of Markets (Benoit Mandelbrot) – 7/7 Devil Take the Hindmost: A History of Financial Speculation (Edward Chancellor) – 7/7 The Alchemy of Finance (George Soros) – 6/7
Reference and Miscellaneous Encyclopedia of Chart Patterns (Thomas Bulkowski) – 7/8 Stock Trader's Almanac 2006 (Yale & Jeffrey Hirsch) – 7/7 Choices, Values, and Frames (Daniel Kahneman & Amos Tversky) – 9/9 Fortune’s Formula (William Poundstone) – 7/7 The Vital Few vs. The Trivial Many (George Muzea) – 7/6
Options McMillan on Options (Lawrence McMillan) – 7/8 Option Volatility & Pricing: Advanced Trading Strategies and Techniques (Sheldon Natenberg) – 5/9
Of Marginal Value… A Mathematician Plays the Stock Market (John Paulos) – 5/3 The Master Swing Trader: Tools and Techniques to Profit from Outstanding Short-Term Trading Opportunities (Alan Farley) – 4/5 Swing Trading (Jon Markham) – 5/4
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bl82
at Aug 17, 2006 10:03:30 AM
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