Trading Books
The Daytrader, From The Pit To The PC - Lewis Borsellino
The subtitle of The Day Trader, From the Pit to the PC, indicates the evolution of the trader from floor jockey to computer cowboy. But this is less an account of the trader’s changing arena than the story of Lewis Borsellino, a fist-shaking Italian American from Chicago’s West Side whose grit and determination helped him become one of the top traders in the Standard & Poor futures pit. “When the world around me goes nuts, I become more sane. The wilder the market gets, the more disciplined I become”. He credits this focus to his tough but compassionate Italian American father, a truck driver with a penchant for lightening the loads of his deliveries. “I do what I do so you don’t have to”, says the elder Borsellino, prior to getting busted by the feds for hijacking a million-dollar shipment of silver.
Shedding his father’s mobster ties, Borsellino quickly moves up the trading ranks, establishing a position–literally–on the second step of the Chicago Mercantile Exchange. For 18 years, he doesn’t budge, sometimes using his fists to ward off aggressive traders, and gaining a “sixth sense” that helps him determine which way the market is headed. Although Borsellino provides a good deal of technical reasoning behind his many successes and failures, he repeatedly returns to this intangible quality, stressing its importance and describing how it’s made him millions.
I loved this book. I listen to this guy in the pit “number one” as Ben calls him. No strategies in here but a good story for traders – Mark
Trading In The Zone – Mark Douglas
Picking up where “The Disciplined Trader” left off, this book bridges the gap between thinking the market is actually doing something and actually making the trade. It is designed to give readers the insight and understanding they need about themselves and the nature of trading that will earn them constant success.
Mark Douglas is a former commodities trader with Merrill Lynch. He is president of Trading Behavior Dynamics; a Chicago based training organisation. He develops seminars on trading psychology and provides seminars to a wide variety of professional organisations
Well worth a read, puts the mindset of trading in perspective and gets you thinking in terms of probabilities. A difficult read at times. – Mark
Reminiscences of a Stock Operator
Reminiscences of a Stock Operator is the fictionalized biography of perhaps the most famous financial speculator of all time-Jesse Livermore. This annotated edition bridges the gap between Edwin Lefevre?s fictionalized account of Livermore?s life and the actual, historical events, places, and people that populate the book. It also describes the variety of trading approaches Livermore used throughout his life and analyzes his psychological development as a trader and the lessons gained through hard experiences.
THE best trading book. A great true story of a traders journey. I read this time and time again – Mark
Market Wizards – Jack Schwager
How do the world?s top traders make millions of dollars in the markets ? sometimes in a matter of only weeks or even days? That?s precisely the question Jack Schwager was trying to answer when he interviewed 17 superstar money-makers including Richard Dennis, Paul Tudor Jones, Ed Seykota, Marty Schwartz, Tom Baldwin and others. After reading this best-selling book, you?ll know what ingredients enable these top traders to consistently work their financial magic in the markets while so many others walk away losers. One of the top-selling trading books of all-time!
Well worth a read, some interesting interviews with a variety of traders – Mark
The New Market Wizards – Jack Schwager
New version of the original Market Wizards. If you enjoyed the first one then you’ll like this too. – Mark
Street Smarts - Linda Bradford Raschke
Published in 1996 and written by Larry Connors and “New Market Wizard” Linda Raschke. This 245 page manual is considered by many to be one of the best books written on trading futures. Twenty-five years of combined trading experience is divulged as you will learn 20 of their best strategies.
Among the methods you will be taught are:
* Swing Trading – The backbone of Linda’s success. Not only will you learn exactly how to swing trade, you will also learn specific advanced techniques never before made public!
* News – Among the strategies revealed is an intra-day news strategy they use to exploit the herd when the 8:30am economic reports are released. This strategy will be especially appreciated by bond traders and currency traders.
* Pattern Recognition – You will learn some of the best short-term set-up patterns available. Larry and Linda will also teach you how they combine these patterns with other strategies to identify explosive moves.
* ADX – In our opinion, ADX is one of the most powerful and misunderstood indicators available to traders. Now, for the first time, they reveal a handful of short-term trading strategies they use in conjunction with this terrific indicator.
* Volatility – You will learn how to identify markets that are about to explode and how to trade these exciting situations.
* Also, included are chapters on trading volatility, trading Crabel, trading the smart money index, trading gap reversals, a special chapter on professional money management, and many other trading strategies!
Jam packed with LBR’s trading strategies. A good read to get some trading strategy ideas from. It’s a big book! – Mark
