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Some highly recommended books

  #52 (permalink)

Paris, France
Trading Experience: Advanced
Platform: Market Delta & Ninjatrader
Favorite Futures: ES
cunparis's Avatar
Posts: 2,565 since Jun 2009
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fiki View Post
Hope u find it as interesting as I. Just so u know there are no charts in the book. Futias brilliance is in the psychological interpretation of the market sentiment. The guy has been in the business for a long time and does really well on the trades he posts live on his blog. All he uses is newspaper covers, some trendlines and volume patterns. After reading it I now keep my own little media diary to remind me to keep my cool when it starts to rock a lot.

2 months ago I stopped all news. I did it mainly to stop financial news. CNBC, CNN, and blogs. But even going to CNN for regular news I'd accidently see things about the economy. So I stopped, cold turkey. Yes I'm out of touch with current affairs but I found it didn't make one bit of difference in my life.

And oddly enough, my swing trading improved dramatically. I'm near 100% win rate for the past 2 months.

So I'm curious how this book would apply to my situation? If it uses the media then I think I prefer to stay in the blind. I was always letting myself get influenced. Even if I tried to take a contrarian point of view.

I even subscribed to sentimentrader thinking that would help me see through the sentiment and fade the crowd. It didn't.

Now just trading price works much better. I didn't know why the market tanked, all I knew is I was short. And when coworkers talked about Dubai defaulting on loans it made sense why the market tanked. But the warning signs where there to those who studied the price action closely.

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