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I would recommend tackling Al Brooks's material - it is overwhelming but its my opinion that studying his work will save you a lot of screen time on your way to understanding market movement.
There's a lot of good stuff here. I wouldn't say FT's stuff is or isn't the best stuff out there - there's just a ridiculous amount of info for free and much of it is very helpful (esp if you are a visual learner).
That should take care of the next month of two of your life.
good luck!
Seek freedom and become captive of your desires. Seek discipline and find your liberty. - Frank Herbert
The Fear Index by Robert Harris
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Video below is Kevin Slavin speaking. If you watch it for the first 4 minutes you'll
know if it's worth watching the rest. Slavin was mentioned in the PBS video.
- Out of the subject of the book, but bring a lot of interrogations.
Very interesting and bring a lot of questioning on our day to day living. A bunch of guy, coder, software engineer, and the peoples who hire them do control in a way how we live and took decision. They may control the choice that we say that we took freely.
- They modify and influence the trading arena by being the major operator. Only 2% control 75% of the shares volume traffic.
- They influence witch movie will be rent on Netflix
- They code in algorithm next blockbuster movie
- They push some book of their choice in Amazone
- Etc,
Just imagine few second if somebody took control of the street light in New-York and or the power grid distribution panel.
We are like sheep, we don't ask to much question. Happy to be well served by the community....
Thanks arjfca. Well we've reached the point where a book gets its own trailer.
The trailer is below if anyone wants to re.....I mean watch it.
Excerpts from trailer are here which I've typed in:
=========================================
It was conceived to make money.
An artificial intelligence that feeds on human emotion.
Generating untold wealth, it grows ever more powerful
until the day comes to make a killing.
=========================================
Ralph Vince: The Handbook of Portfolio Mathematics
Philip McDonnell: Optimal Portfolio Modeling
Leonard McLean, Edward O.Thorp: The Kelly Capital Growth Investment Criterion
That is just, if you really want to use position sizing for getting optimal returns. In the end all approaches to money management are a trade-off between optimal geometric growth and risk appetite (acceptable drawdowns).
There are also two more hands-on books, which do not require undergraduate knowledge of mathematics:
Nauzer J. Balsara: Money Management Strategies for Futures Traders
Bennett A. McDowell: A Trader's Money Management System
It is probably better to start with the latter ones and graduate to the first group.
i've done my homework and now i'm sitting at a lot of system metrics and trade data series. Thru several tests in my own software i got a sense in what direction i have to dig deeper. The "Why 7% ..." thread helped me to turn in the right direction. Now i need some real statistical digits to compare the different results. I want it in EXCEL so i can feed EXCEL from my program easily. I want do the normal stuff like seen in NTs "Account Performance" and some correlation-, distribition- and deviation charts, monte carlo analysis.
Can anybody suggest a book which covers this (Englisch or @Fat Tails in Deutsch)? I've already searched but can't really find a book which catch's me respectively covers all aspects in a single book.
Found so far:
Statistical Analysis with Excel for Dummies
Financial Modeling
Statistical Analysis: Microsoft Excel 2010
Excel Data Analysis: Modeling and Simulation
Statistik mit Excel: Beschreibende Statistik für jedermann
Because this is a broad topic feel free to share links to some BM threads/posts which can guide me further. Sadly i am still a beginner in statistics.
I have not made extensive use of Excel so far, I am still on the lower end of the learning curve. The only book I have purchased so far is the book by Simon Menninga on Financial Modeling.
The book is geared towards general concepts in financial modelling. It is one of those books which is sitting on my shelf and waiting for me being able to make full use of it. It does have a short chapter on Monte Carlo methods, but it would probably make the task for you more complex. The book requires in-depth knowledge of financial mathematics. Also 95% of the stuff is not needed for what you wish to do.
I have quickly enquired via internet, whether there are other books that might be useful, but have only found the following one, which looks half- interesting.
