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Some highly recommended books
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Some highly recommended books

  #341 (permalink)
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DarkPoolTrading View Post
Has anyone read Mike Bellafiore's new book: The Playbook

I have a lot of respect for SMB Capital and am an avid consumer of anything they produce whether it be blog posts, webinars, books etc. Mike's prior book 'One Good Trade' was excellent.

Im trying to decide whether to get his latest book on Kindle or hard cover. I would prefer to get it on kindle but am worried that if it has a lot of charts and diagrams in it, it would be better getting the hard cover. I try to avoid kindle books if I know they're going to have charts in them.

If it's anything like his prior book, I would expect it to be predominantly text.

Thanks.

Be quick... as despite its less than perfect view in Kindle, $0 is a very good price. Will complement my hardcopy nicely. On freebie promotion for who knows how long:

The Playbook - Free Kindle Version - Limited

Richard
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  #342 (permalink)
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Went a little crazy on amazon this morning.

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  #343 (permalink)
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Two novels by Ayn Rand (Ayn rhymes with mine):

"The Fountain Head" and "Atlas Shrugged". Not about trading but the ideas explored can inspire the bloody minded determination needed to stick with your plans come what may.

know thyself
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  #344 (permalink)
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Request For Recommendations...

I'm planning to study 'fear' and wondered if anyone has any recommendations. I am am not necessarily just after those titles dealing with fear/greed in trading & investing, but throwing the net wider.

Thanks in advance for any replies.

know thyself
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  #345 (permalink)
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Daily chart analysis...

Hi all,

I've been playing around with forex on a daily chart over the last couple of months. Was wondering if there are any good books about trading on a daily timeframe. (price action, technical analysis, candlestick charting, etc.)
I've read through this whole thread and some other book threads and couldn't find anything that stood out specifically for daily chart analysis.
Any help would be appreciated. The daily chart looks foreign to me compaired to the intraday stuff I'm used to looking at.

Thanks,
BlackSwan

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  #346 (permalink)
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mokodo View Post
I'm planning to study 'fear' and wondered if anyone has any recommendations. I am am not necessarily just after those titles dealing with fear/greed in trading & investing, but throwing the net wider.

Thanks in advance for any replies.

Sources of power: how people make Decisions - Gary Klein
http://books.google.com/books/about/Sources_of_Power.html?id=NWkGhHiOQQEC

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  #347 (permalink)
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@shodson


shodson View Post
That's a major point of this book

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Following the Trend: Diversified Managed Futures Trading (Wiley Trading): Andreas Clenow: 9781118410851: Amazon.com: Books

You mentioned this book in another thread. Have you read this book yet? How much detail does it go into about diversification and correlation of products?

Mike

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  #348 (permalink)
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Big Mike View Post
@shodson

You mentioned this book in another thread. Have you read this book yet? How much detail does it go into about diversification and correlation of products?

Mike

Not too much. I mean, he lays out his trading plan as trading a basket of 50+ futures contracts and currency pairs. Diversification and correlation avoidance is via asset types. He doesn't say you really need to watch the correlations across asset types, but in panics they will all merge towards 1.0, in which case, you can still make a lot of money (2008 was his best year). The rules are based on a simple Turtle Trader style trend-following system.

He recently wrote an article in the August edition of Active Trader where he reversed engineered the returns of major trend-following hedge funds and showed they all pretty much used the same system (Donchian(50), with EMA trend filters and an ATR-based trailing stop) but their differences are just the amount of leverage they use and how they are weighted (interest rate-weighted, commodities-weighted, equities-weighted, or some sort of mix, etc). Just more proof that entries and exits don't matter as much as position sizing, diversification, and the power of small losses and large runners.

Active Trader: Pay no attention to the man behind the curtain

I'm giving a talk next month which highlights and expands upon a lot of these concepts. I'll probably record it and make it available online.

http://www.meetup.com/Orange-County-Traders-Association/events/148068922/


Last edited by shodson; November 3rd, 2013 at 01:30 AM.
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  #349 (permalink)
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Thanks Scott. Echo's my own findings as well using baskets of stocks. I may still pick the book up since his findings are so close to my own.

I laughed a bit on the reverse engineering segment because I have found a simple moving average and oscillator to be all that is needed for this type of trading. My systems hold for days or weeks using this method.

Sent from my LG Optimus G Pro

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

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #350 (permalink)
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Big Mike View Post
Thanks Scott. Echo's my own findings as well using baskets of stocks. I may still pick the book up since his findings are so close to my own.

I laughed a bit on the reverse engineering segment because I have found a simple moving average and oscillator to be all that is needed for this type of trading. My systems hold for days or weeks using this method.

The author would say just trading stocks is too correlated, even if you are using commodity ETFs (which don't track underlying commodities well over time), indexes, trying to diversify across sectors, but maybe your experience proves otherwise. He would want you exposed to bonds, treasuries, currencies, ags, softs, metals, energy, etc.

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