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Some highly recommended books
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Some highly recommended books

  #181 (permalink)
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Sources of Power is the one gem that I think no one has touched on here. The author looks at people who have stressful jobs and how they become quicker and quicker at problem solving and rational thought processes in highly emotional times. The case studies are great, like soldiers, EMTs, firefighters, etc. Looks at pattern recognition from a non-trading perspective that easily transfers over to trading.

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  #182 (permalink)
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A few books i have found to be helpfull were

Tony Oz - The stock trader ( where he makes trades for a month and shows trade charts for both losses and profits )
Tony Oz - How to Take Money from Wall Street
alexander elder- trading for a living
Toni Turner - a beginers guide to daytrading online
Mark Douglas - trading in the zone
Currently reading Daily trading coach by Brett steenberger - its good so far

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  #183 (permalink)
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traderbaker View Post
Currently reading Daily trading coach by Brett steenberger - its good so far

One of the best trading books, in my opinion. I like all of Dr. Brett's work.


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  #184 (permalink)
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Hi Alan,

I am reading this book right now. So far I am enjoying it. I sought a book specifically dealing with Money Management and Psychology, and this book is hitting on that perfectly.


how is the link to the book you mention to be seen? I clik on it but does not load any image.
Regards and happy sunday

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  #185 (permalink)
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They aren't links Rainbowchaser. Just Google the Title or the author and you'll find the book.

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  #186 (permalink)
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Favorite book for being an easy read and focusing on psychology; SuperTrader by Van Tharp.

Favorite book, a difficult read, but distills technicals; High Probability Trading Strategies by Robert Miner

I enjoyed the story of Reminiscences..., but possibly not the best role model

Favorite trader interviews; Ed Seykota - various sources

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  #187 (permalink)
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since many people pick 'alexander elder- trading for a living', my question is why it is good? I think it's more about trend following. Did you guys make money based on his methods?


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  #188 (permalink)
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jz166 View Post
since many people pick 'alexander elder- trading for a living', my question is why it is good? I think it's more about trend following. Did you guys make money based on his methods?


It is an introduction. and contains very basic stuff for beginners. Dr. Elder is a psychologist, which helps. Every experienced trader will tell you that psychology is more important than mathematics. The book starts with psychology, before it deals with charting.

The trading method of Dr. Elder is essentially based on two indicators, the MACD and the force index, which are monitored in three different time frames. It is a very good book, if you know little about trading.

Last edited by Fat Tails; September 17th, 2011 at 05:05 PM.
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  #189 (permalink)
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Here are a few psychology-related books not written specifically for trading, but still potentially helpful for discretionary traders:

Change: Principles of Problem Formation and Problem Resolution -- Paul Watzlawick

Strangers to Ourselves: Discovering the Adaptive Unconscious -- Timothy D. Wilson

The Inner Game of Tennis: The Classic Guide to the Mental Side of Peak Performance -- W. Timothy Gallwey

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  #190 (permalink)
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Fat Tails View Post
I have read four books on Fibonacci Analysis. The book by Constance Brown is the most difficult to understand. She has a peculiar way to draw her levels from mysterious starting points, which I really had a hard time to understand.

In my personal opinion, anyone should start with the book of Robert C.Miner (listed below). It is comprehensive., complete and I recommend it. the easiest to read is the book by Larry Pesavento, as it focuses on a couple of harmonic patterns.

Robert C. Miner: High Probability Trading Strategies - my personal favorite, well structured and complete
Larry Pesavento, Leslie Jouflas: Trade What You See - the easiest to read with many sexy charts
Carolyn Boroden: Fibonacci Trading: comparable with the book of Robert C.Miner, but not as good
Constance Brown: Fibonacci Analysis - worth reading, but difficult to understand

Fibonacci Analysis can be applied intraday. There is a number of free indicators available, you can try the anaCurrentDayOHL, which draws Fibonacci retracements from the current day's high and low (look for SessionPivots).

Did anyone read this one ? The Gartley Trading Method: New Techniques To Profit from the Markets Most Powerful Formation (Wiley Trading) (9780470583548): Ross L. Beck: Books

...and how does it compare with above mentionned ?

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