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Some highly recommended books
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Some highly recommended books

  #201 (permalink)
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boomer34 View Post
Hey guys...

I was looking for the highly recommended book "Trade Chart Patterns Like the Pros" by Duddella.

I noticed that it is not on Amazon (they do have a outside seller on their site you can buy from), and seems to not be readily available on the internet. Now I have found places to buy it from...but I was just wondering why it is not readily available? I mean Amazon usually directly sells every known book...

Thoughts?

Suri Duddella (@suriNotes) is around, maybe he can comment on the Amazon issue because I was thinking it was on Amazon now. But you've always been able to buy it on his website:

suriNotes.com, suriNotes, Stock Research, Futures Trading, Emini Trading, Tradestation, Indicators

I think Suri's intention was to self publish mainly because he wanted an oversized book (his is physically larger than most) and also because a lot of publishers take like 90% of proceeds, so if you can market the book yourself...

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  #202 (permalink)
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I thought I might chime in with a brief review of a book I read during the holidays entitled 'Market Mind Games' written by upcoming speaker here Denise Shull.
I realize it's not on Mikes favorite list if for no other reason it wasn't even written when this thread was created but is none the less worthy of mention. It's basically about dealing with emotion when trading.

The common view on emotion is to surpress or try to ignore emotions when trading and try to act like a robot. Shull suggests that instead of ignoring emotion we should learn to interpret emotion and use it to our advantage. In other words realize and identify what you are feeling in various situations and then use those feelings to your advantage.

She goes into detail and doesn't miss anything as far as I could tell ( I'm not a psycho babbler). It's fairly easy to understand and makes a lot of sense and I would recommend it.

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  #203 (permalink)
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Requires a bit of calculus


Richard A. Epstein: The Theory of Gambling and Statistical Logic, Second Edition

"Recent advances in the field, particularly Parrondo's paradox, have triggered a surge of interest in the statistical and mathematical theory behind gambling. This interest was acknowledge in the motion picture, "21," inspired by the true story of the MIT students who mastered the art of card counting to reap millions from the Vegas casinos. Richard Epstein's classic book on gambling and its mathematical analysis covers the full range of games from penny matching to blackjack, from Tic-Tac-Toe to the stock market (including Edward Thorp's warrant-hedging analysis). He even considers whether statistical inference can shed light on the study of paranormal phenomena. Epstein is witty and insightful, a pleasure to dip into and read and rewarding to study. The book is written at a fairly sophisticated mathematical level; this is not "Gambling for Dummies" or "How To Beat The Odds Without Really Trying." A background in upper-level undergraduate mathematics is helpful for understanding this work."

Amazon.com: The Theory of Gambling and Statistical Logic, Second Edition (9780123749406): Richard A. Epstein: Books

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  #204 (permalink)
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Technical Analysis of Stock Trends - Edwards & Magee
Technical Analysis Explained - Pring
Technical Analysis of the Financial Markets - Murphy

I'm looking to read a general technical analysis book, one that covers the spectrum. I am profitably trading, using a few methods, but I feel like I missed an intro to TA.

I keep finding these 3 mentioned over and over for a "Bible on TA" so to speak...is one of them more current and applicable to today than the others?


Last edited by Boomer34; January 30th, 2012 at 11:31 PM. Reason: Listed Book Titles
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  #205 (permalink)
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Maybe "Trade Chart Patterns Like the Pros" by Duddella is what I am looking for...

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  #206 (permalink)
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Boomer34 View Post
Maybe "Trade Chart Patterns Like the Pros" by Duddella is what I am looking for...

An excellent book on patterns. You can watch his webinars on futures.io (formerly BMT) and see if his style makes sense to you before buying.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
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6)
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  #207 (permalink)
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What was I thinking?

There are tons of trading books. Topics range from fundamentalist perspective to psychology to "If you want to make $120394810 a year, buy my whiz-bang software" to everything in between. I've got and have read a lot of these books, just like most others have. All that means is that I'm reading and thinking the same way everyone else is. So I look for things outside of trading that may be applicable to trading - both personally and already in play in general.

So here are a few recent and current reads (all are available on Amazon or similar) that have been well worth the price of admission:

Recent
The Power of Full Engagement
Talent Is Overrated
The Talent Code
Slaying the Dragon

Current
Thinking, Fast and Slow
More Than You Know
Think Twice
Thinking Strategically

I chose not to go into why each has been important to me because I have no desire to influence someone else's experience. Something life-changing to me could be less than a disposable napkin to someone else. Worse, it could be the opposite. Always remember, the Grail is you.

I am on a constant journey to improve myself - in trading and in life. These and many other resources have had a positive impact on both.

Take care -

Omni

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  #208 (permalink)
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My two favourite trading books are

a) Technical Analysis of Financial Markets by John J Murphy
Amazon.com: Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications (New York Institute of Finance) (9780735200661): John J. Murphy: Books

b) Technical Analysis of Stock Trends by Edwards & Magee
Amazon.com: Technical Analysis of Stock Trends (9780814408643): Robert D. Edwards, John Magee, W.H.C. Bassetti: Books


Both these books are must have on the shelf for any serious trader.

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  #209 (permalink)
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Generate Thousands in Cash on your Stocks Before Buying or Selling Them by Samir Elias

http://www.amazon.com/Generate-Thousands-Stocks-Before-Selling/dp/1585974242/ref=sr_1_1?ie=UTF8&qid=1328086899&sr=8-1

Even though his book is about using options to generate cash, some of his strategies are applicable in futures, stock and forex.

Trading is not a game of perfect.
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  #210 (permalink)
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Trading Books


Finally got around to working my way through this thread (but not cover to cover - just 75% or so).

I would say I agree w Cunparis's post that you have to be careful with your time. However, I would add that you have to be more careful with your mind - especially if you are starting out. The reason being that (IMO) most how-to trading book authors are writing because they cannot make money trading. My opinion is that if you consider this to be axiomatic then you will be correct more times than you will be wrong. There's a story about Ed Seykota in which van tharp asks Ed several times to get help in writing his book "trade your way to financial freedom" and Ed tells Van that he should title his book "Write your way to financial freedom" instead.

The problem is that there are so many "ways to trade" that do not work but still look great "on paper" or "in theory". I think that if you spend time reading these books, you'll not only waste your time but be mislead about what it really takes to be consistently profitable trading. (I want to make a distinction here between "how to trade" books and "reference" books such as edwards and magee.)

I think this is why psychology of trading books are more often good than bad - the author isn't claiming to know how to trade, just how to think while trading. However, even in this space there is a lot a repetition and trite advice.

I don't want to make a list of all the books I like and all the books I don't. But I do want to discuss (if anyone is interested) Ari Kiev's books. Dr. Kiev worked with at the olympic training center at the start of his career. After establishing himself as a performance shrink and coach, Steven Cohen (SAC capital) hired him to be there on-site shrink/coach. After almost a decade of this, he wrote his first book "Trade to Win" with a preface by Steven Cohen. As far as I'm concerned, a pedigree doesn't get any better than this - the guy worked with the best athletes in the world then he worked with one of the best traders (and his hedge fund) in the world. I don't know of anybody in this space that has anything like this level of experience and track record.

Ari's advice is very clear - he believes (in direct contrast to much i've read in "how to trade" books and psych books and also many places on futures.io (formerly BMT)) that a trader needs to set specific monetary goals. He believes that only specific monetary goals have the power to push a trader to do what is necessary to improve him/herself (in terms of knowledge, strategy, psychology, etc) in trading. He believes goals push individuals to unlock their potential. He also has a somewhat unique take on the emotions generated by trading. He (even back in 1998 when this was anathema to most wrote/said) has never recommended "controlling" emotions - he recommends feeling them, acknowledging them, and working WITH them. This is advice many today claim to have "invented" (but I'm not naming names!).

I'm curious if anyone has read Ari and what they think? I have read "psychology of risk", most of "managing trader stress", some of "trading in the zone" (same title as douglas's book), and have "trading to win" on deck right now.

Seek freedom and become captive of your desires. Seek discipline and find your liberty. - Frank Herbert
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