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Some highly recommended books

  #442 (permalink)

Market Wizard
Boca Raton
 
Trading Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 2,410 since Sep 2010
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I would like to mention that sometimes books that are not related directly to trading have helped me understand trading better. For example, game theory/microeconomics helped understand how individuals interact with groups.

It led me to thoughts how individuals traders face the challenge of guessing the markets(group behaviour).
In my opinion, once you understand these concepts you will stop guessing tops and bottoms because the likelihood of being right on it is close to zero. Even when an analyst says he sees stock/futures/bond double in price, it is again a prediction to guess tops and bottom because he.she is gauging how a group will react to data.

I came across a book called "Nudge" by Richard Thaller and Cass Sunstein. The theme of the book is whether we as humans make truly objective and independent decision. The answer to that is not really. It shows how systematically we are manipulated due to our way of thinking.

We should strive to always be conscious of our decision because then we will rely less on impulses hopefully.
In trading, many of our mistakes are related to impulses.

I enjoyed this book, and I thought I will share.

Matt Z
Optimus Futures

There is a substantial risk of loss in Futures trading. Past performance is not indicative of future results.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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