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Some highly recommended books
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Some highly recommended books

  #91 (permalink)
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Some books on market psychology and related subjects

Hersh Shefrin: Beyond Greed and Fear
Martin J. Pring: Investment Psychology Explained

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Now if the subject is extended a little bit you might have a look at agent based artificial societies. One of the playgrounds would be Sugarscape - Growing Agent-based Artificial Societies (www.sugarscape.sourceforge.net)

Those are dumb and simple creatures, but behave in a similar way as human crowds. Basically shows that nonlinear systems mostly do not have equilibrium points but tend to spend considerable time in seemingly stable configurations before breaking out of these in a violent manner. Trading ranges followed by trending moves. Without these properties of non-linear systems we would only see Gaussian distributions and random markets, and mean reversion models as traded by LTCM might actually work.

Some books that extend the subject a little bit to individual behaviour and behavioural economics (it's a bit off-topic, but I enjoyed the reads):

Robert A. Akerlof and Robert J.Shiller : Animal Spirits
Ori Brafman and Rom Brafman: Sway -The Irresistible Pull of Irrational Behaviour
Richard H. Thaler: The Winner's Curse

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Last edited by Fat Tails; April 11th, 2010 at 01:34 PM. Reason: false link
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  #92 (permalink)
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Market profile book

guys,

for all people who like to read market profile, Markets and Market Logic

ben

Keep on sowing your seed, for you never know which will grow -- perhaps it all will.

-- Albert Einstein

Last edited by sam028; March 6th, 2010 at 08:29 PM. Reason: remove .pdf, add link
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Have just come across a recommendation by Brett Steenbarger (from his blog), looks interesting, so I just put in on my shopping list...

Richard L.Peterson: Inside the Investor's Brain - The Power of Mind on Money

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Market Profile

As a supplement to the two highly recommended books from James F. Dalton (see earlier post)....


Here is the link to the original Market Profile Handbook from CBOT, which can be downloaded for free.

http://www.cmegroup.com/education/interactive/marketprofile/handbook.pdf

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my favorite books

Reading Price Charts Bar by Bar, Al Brooks
Technical Analysis of Stock Trends Edwards and Magee
Trading the Ross Hook,Joe Ross
The Disciplined Trader, Mark Douglas
Trading Chaos, Bill Williams
The Master Swing Trader, Alan Farley
Technical Analysis of the Finacial Markets, John Murphy
Day Trading Futures The Manual, Malcolm Robinson

online - Lance Biggs site with emphasis on candles, price action and trapped traders - great, easy to understand free videos

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A Collection Books on Technical Analysis

Books I have read (not all of them finished yet) and that I recommend:

Gerald Appel: Technical Analysis: Power Tools for Active Investors
Constance Brown: Technical Analysis for the Trading Professional
Tushar Chande: Beyond Technical Analysis
Michael W. Covel: Trend Following
Thomas R. DeMark: New Market Timing Techniques
Perry J. Kaufman: New Trading Systems and Methods
John Murphy: Intermarket Analysis
Jack D. Schwager: Technical Analysis
J. Welles Wilder: New Concepts in Technical Trading Systems
Chris Wilkinson: Technically Speaking

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fxfib, your post was removed - don't post that in an open forum.

Fat Tails, please use the Report Post feature as opposed to taking matters in to your own hands

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oops

sorry mike. duly noted.

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Patterns of Speculation


Have just read this book

Bertrand M. Roehner: Patterns of Speculation - A Study in Observational Econophysics

It is not something you can easily apply to day trading, but nevertheless an interesting read.

The book has four chapters

- Econophysics
- How do markets work?
- Regularities in speculative episodes
- Theoretical Framework

The author tries to identify regularities in speculative peaks. Peaks are separated into U-class and S-class. U-class (sharp) peaks can be observed fo commodities, whereas S-class (flat) peaks can be found for real estate, stamps and bonds. The author uses statiistics from several centuries to substantiate his ideas.

The last chapter requires a solid knowledge of mathematics, I decided to postpone any effort to try to understand it. However, three quarters of the book does not require more than some basic understanding of statistics.



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There is another book on the topic of modelling bubbles, which in my opinion is more complete. But then again, this book requires at least some undergraduate knowledge of mathematics.


Didier Sornette: Why Stock Markets Crash - Critical Events in Complex Financial Systems


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Last edited by Fat Tails; April 13th, 2010 at 03:39 PM.
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