Some highly recommended books - Traders Hideout | futures io social day trading
futures io futures trading


Some highly recommended books
Updated: Views / Replies:120,587 / 433
Created: by Big Mike Attachments:37

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 37  
 
Thread Tools Search this Thread
 

Some highly recommended books

  #231 (permalink)
Elite Member
@ Germany
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: Mirus Futures/Zen-Fire
Favorite Futures: FDAX
 
Posts: 441 since Nov 2011
Thanks: 254 given, 369 received

Thanks Harry! I've looked at the 2. book and the website. I'm afraid that the used tool is a bit outdated (some reviewer mentions that) and Excel 2010 covers most of the functions yet.

Now i prefer to:
Statistical Analysis: Microsoft Excel 2010
[NEW] Excel Statistics: A Quick Guide
[Currently looking at]: RExcel + Statconn

Until i become more familar with the system performance formulas i consider to purchase (after i got the excel stuff running) the Market System Analyzer (MSA) from Adaptrade. It isn't too expensive and has monte carlo analysis and extra stuff with it. Then i can check my computations against the MSA ones (which are the correct ones - always!).

PS: HEY ADAPTRADE! CALL A SPECIAL BIGMIKE USER PRICE DISCOUNT FOR MSA.


Last edited by Koepisch; July 21st, 2012 at 06:27 PM.
Reply With Quote
The following user says Thank You to Koepisch for this post:
 
  #232 (permalink)
Elite Member
Quebec
 
Futures Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker/Data: Stage 5 trading/AMP/CQG
Favorite Futures: ES, NQ, YM
 
trendisyourfriend's Avatar
 
Posts: 3,697 since Oct 2009
Thanks: 3,041 given, 4,497 received

Once i was an expert in Excel and was doing many simulations in it. If you have Excel, you might want to check this expert at S&P 500 Futures Trading Simulator - Emini ES | ExcelTrader He did many tools for trading using Excel. Worth a visit in my opinion.

Reply With Quote
The following user says Thank You to trendisyourfriend for this post:
 
  #233 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,653 since Mar 2010
Thanks: 4,226 given, 25,601 received
Forum Reputation: Legendary



Koepisch View Post
Thanks Harry! I've looked at the 2. book and the website. I'm afraid that the used tool is a bit outdated (some reviewer mentions that) and Excel 2010 covers most of the functions yet.

Now i prefer to:
Statistical Analysis: Microsoft Excel 2010
[NEW] Excel Statistics: A Quick Guide
[Currently looking at]: RExcel + Statconn

Until i become more familar with the system performance formulas i consider to purchase (after i got the excel stuff running) the Market System Analyzer (MSA) from Adaptrade. It isn't too expensive and has monte carlo analysis and extra stuff with it. Then i can check my computations against the MSA ones (which are the correct ones - always!).

PS: HEY ADAPTRADE! CALL A SPECIAL BIGMIKE USER PRICE DISCOUNT FOR MSA.

The Adaptrade Tool looks serious, the user's guide can be downloaded at the website:

http://www.adaptrade.com/MSA/MSA3UsersGuide.pdf

Also they offer a free trial of 30 days.


If you use it, please let me know how it works and post your experience here:

https://futures.io/vendors-product-reviews/4690-msa-market-system-analyzer-www-adaptrade-com.html

Reply With Quote
 
  #234 (permalink)
Elite Member
Madison, Wi
 
Futures Experience: Intermediate
Platform: Ninja Trader, Trade Navigator
Favorite Futures: CL,GC, HG
 
dbarno's Avatar
 
Posts: 68 since Jul 2012
Thanks: 143 given, 56 received

Commodity Trader's Almanac. By Hirsch and Person. Comes out every year. Explains the how, when and why of seasonal trading. Has a good trading quote for every day.

Reply With Quote
 
  #235 (permalink)
Elite Member
PORTLAND, OR
 
Futures Experience: None
Platform: NinjaTrader
Favorite Futures: Futures
 
Posts: 185 since Jul 2011
Thanks: 74 given, 166 received


Surly View Post
This may not be exactly what you're looking for but it is definitely worth reading, is "factually accurate, and will help fill in gaps in knowledge about what trading and exchanges are.

Amazon.com: Trading and Exchanges: Market Microstructure for Practitioners (9780195144703): Larry Harris: Books

I'm trying to decide between two books on Market Microstructure:

Trading and Exchanges: Market Microstructure for Practitioners
Which is highly reviewed but very dated (2002).

or

Financial Markets and Trading: An Introduction to Market Microstructure and Trading Strategies
Which has no reviews, probably because it's a very recent publication (2011), it's also 1/3 of the length of the former.

Due to cost and time I would prefer not to go through both to fill the gaps in my knowledge. Any input from futures.io (formerly BMT) members would be appreciated.

Reply With Quote
The following user says Thank You to gonzofist for this post:
 
  #236 (permalink)
Elite Member
@ Germany
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: Mirus Futures/Zen-Fire
Favorite Futures: FDAX
 
Posts: 441 since Nov 2011
Thanks: 254 given, 369 received

I have the first one (oxford) and it helped me a lot in understanding the auction process. Buy this one, it isn't outdated and it is a classic one.

Reply With Quote
The following user says Thank You to Koepisch for this post:
 
  #237 (permalink)
Elite Member
denver, colorado
 
Futures Experience: Intermediate
Platform: NT
Favorite Futures: ZS
 
Surly's Avatar
 
Posts: 704 since Mar 2011
Thanks: 628 given, 1,242 received


gonzofist View Post
I'm trying to decide between two books on Market Microstructure:

Trading and Exchanges: Market Microstructure for Practitioners
Which is highly reviewed but very dated (2002).

I haven't read the other one but this book is excellent - I found myself thinking through most of the book "I can't believe no one recommends this book to new (or experienced) traders - it's giving me the most insight of any book I've read about markets." It is not going to teach you "how to trade" - it is going to teach you about markets. Hope that helps.

Seek freedom and become captive of your desires. Seek discipline and find your liberty. - Frank Herbert
Reply With Quote
The following 2 users say Thank You to Surly for this post:
 
  #238 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,653 since Mar 2010
Thanks: 4,226 given, 25,601 received
Forum Reputation: Legendary


gonzofist View Post
I'm trying to decide between two books on Market Microstructure:

Trading and Exchanges: Market Microstructure for Practitioners
Which is highly reviewed but very dated (2002).

or

Financial Markets and Trading: An Introduction to Market Microstructure and Trading Strategies
Which has no reviews, probably because it's a very recent publication (2011), it's also 1/3 of the length of the former.

Due to cost and time I would prefer not to go through both to fill the gaps in my knowledge. Any input from futures.io (formerly BMT) members would be appreciated.

I think that both are good books. Let us go through your options.

(1) The book by Harris is a classic. I have not read it, but it has been recommended by a lot of people that I know. I think it is a comparatively easy read.

(2) My favourite book is another one, I simply love it: Barry Johnson: Algorithmic Trading & DMA. You can get an idea here Algo Dma Preview or at Amazon books. Although the title is very different, it has quite a few things in common with the book by Harris.

(3) I also have read a book by Joel Hasbrouck: Empirical Market Microstructure. It does not come close to the book by Barry Johnson.

(4) I am really tempted by reading the recent book which you mentioned, but will certianly wait some time before I do it.


But now there is a difference between them:

-> The book by Harris is for practitioners, probably no grand theories and no undergraduate mathematics required to understand it
-> If I look at the book by Schmidt, there is

Chapter 3: Risk-Neutral Models: Garman's Model, Amihud-Mendelson Model, Stoll's Model
Chapter 4: Information Based Model: Kyle's Model, Glosten-Milgrom Model,
Chapter 5: Models at the Limit-Order Markets: the CMSW Model, the Parlour Model, the Foucault Model

Although I have followed undergraduate studies in Mathematics, this book would not be easy for me to understand. It is probably aimed at future quants and not suitable for the average retail trader.

It all comes down to who you are and what you want to learn.

for beginning traders / practitioners -> select the book by Larry Harris
for advanced traders / practitioners -> select the book by Barry Johnson
for quants or would-be quants -> select the book by Anatoly Schmidt

Reply With Quote
The following 2 users say Thank You to Fat Tails for this post:
 
  #239 (permalink)
Elite Member
PORTLAND, OR
 
Futures Experience: None
Platform: NinjaTrader
Favorite Futures: Futures
 
Posts: 185 since Jul 2011
Thanks: 74 given, 166 received


Fat Tails View Post
I think that both are good books. Let us go through your options.

(1) The book by Harris is a classic. I have not read it, but it has been recommended by a lot of people that I know. I think it is a comparatively easy read.

(2) My favourite book is another one, I simply love it: Barry Johnson: Algorithmic Trading & DMA. You can get an idea here Algo Dma Preview or at Amazon books. Although the title is very different, it has quite a few things in common with the book by Harris.

(3) I also have read a book by Joel Hasbrouck: Empirical Market Microstructure. It does not come close to the book by Barry Johnson.

(4) I am really tempted by reading the recent book which you mentioned, but will certianly wait some time before I do it.


But now there is a difference between them:

-> The book by Harris is for practitioners, probably no grand theories and no undergraduate mathematics required to understand it
-> If I look at the book by Schmidt, there is

Chapter 3: Risk-Neutral Models: Garman's Model, Amihud-Mendelson Model, Stoll's Model
Chapter 4: Information Based Model: Kyle's Model, Glosten-Milgrom Model,
Chapter 5: Models at the Limit-Order Markets: the CMSW Model, the Parlour Model, the Foucault Model

I have followed undergraduate studies in Mathematics, but this book will not be easy for me to understand. It requires some undergraduate mathematics and is probably aimed at futures quants and not retail traders.

It all comes down to who you are and what you want to read.

for beginning traders / practitioners -> select the book by Larry Harris
for advanced traders / practitioners -> select the book by Barry Johnson
for quants or would-be quants -> select the book by Anatoly Schmidt

Would you echo that Harris's book is still wholly relevant in todays markets? I was only put off that it was published in 2002, thank you for analyzing their contents it was a great help.

Reply With Quote
 
  #240 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,653 since Mar 2010
Thanks: 4,226 given, 25,601 received
Forum Reputation: Legendary



gonzofist View Post
Would you echo that Harris's book is still wholly relevant in todays markets? I was only put off that it was published in 2002, thank you for analyzing their contents it was a great help.


@gonzofist: I have not read the book. Many people have recommended the book.

Why don't you simply go through the table of contents of the book and find out, if the subject is interesting.


Below are links to two papers:

(1) Bruno Biais, Larry Glosten and Chester Spatt: Market Microstructure: A Survey of Microfoundations, Empirical Results, and Policy Implications (2005)

http://www.cis.upenn.edu/~mkearns/finread/bias-spatt-survey.pdf

If you look at pages 57 to 63, it gives you an idea, where a theoretical book on market microstructure will focus on. Is that what you look for?

(2) Martin Sewell (2007): Market Microstructure (2007)

http://finance.martinsewell.com/microstructure/microstructure.pdf

You will find a recommendation for the books from Harris and Hasbrouck. The books by Johnson and Schmidt have been published later.

But again, you can access the table of contents of all books easily via Google books or Amazon.

Reply With Quote
The following 2 users say Thank You to Fat Tails for this post:

Reply



futures io > > > Some highly recommended books

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Van Tharp Books Dusty909 Psychology and Money Management 22 August 15th, 2016 12:57 PM
Free Trading books mysthars Traders Hideout 2 January 26th, 2012 05:19 AM
Books about price action? mindfultrader Traders Hideout 9 March 24th, 2011 11:25 AM
Good trading books for beginners aj7harrison Trading Journals 2 March 4th, 2011 09:38 AM
Trading Books for all you geeks... Jugador Traders Hideout 2 November 11th, 2009 12:00 PM


All times are GMT -4. The time now is 12:12 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-15 in 0.08 seconds with 19 queries on phoenix via your IP 54.226.34.209