NexusFi: Find Your Edge


Home Menu

 





Some highly recommended books


Discussion in Traders Hideout

Updated
      Top Posters
    1. looks_one Fat Tails with 49 posts (98 thanks)
    2. looks_two Big Mike with 37 posts (82 thanks)
    3. looks_3 wh with 13 posts (15 thanks)
    4. looks_4 cunparis with 13 posts (31 thanks)
      Best Posters
    1. looks_one SMCJB with 2.7 thanks per post
    2. looks_two cunparis with 2.4 thanks per post
    3. looks_3 Big Mike with 2.2 thanks per post
    4. looks_4 Fat Tails with 2 thanks per post
    1. trending_up 342,116 views
    2. thumb_up 727 thanks given
    3. group 264 followers
    1. forum 527 posts
    2. attach_file 47 attachments




 
Search this Thread

Some highly recommended books

  #371 (permalink)
 
YertleTurtle's Avatar
 YertleTurtle 
Portland, USA
 
Experience: Intermediate
Platform: Ninjatrader
Trading: ZS
Posts: 215 since May 2011
Thanks Given: 42
Thanks Received: 362

The best book for my trading was:

"The Power of Habit" by Charles Duhigg

I also have an affinity for traders who made money before the computer:

Richard Wyckoff's original courses (they are free):

https://cdn3.traderslaboratory.com/forums/attachments/131/17907d1263785828-wyckoff-resources-wyckoff-method-tape-reading.pdf

https://cdn3.traderslaboratory.com/forums/attachments/131/29677d1341085619-wyckoff-resources-tape-reading-active-trading.pdf

Reply With Quote
The following user says Thank You to YertleTurtle for this post:

Can you help answer these questions
from other members on NexusFi?
ZombieSqueeze
Platforms and Indicators
NexusFi Journal Challenge - April 2024
Feedback and Announcements
Request for MACD with option to use different MAs for fa …
NinjaTrader
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Retail Trading As An Industry
67 thanks
NexusFi site changelog and issues/problem reporting
47 thanks
Battlestations: Show us your trading desks!
43 thanks
GFIs1 1 DAX trade per day journal
32 thanks
What percentage per day is possible? [Poll]
31 thanks

  #372 (permalink)
 
Fat Tails's Avatar
 Fat Tails 
Berlin, Europe
Market Wizard
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
Posts: 9,888 since Mar 2010
Thanks Given: 4,242
Thanks Received: 27,102

Both worth reading and entertaining:





https://www.nytimes.com/2014/04/06/magazine/flash-boys-michael-lewis.html

Flash Boys Meets Evolutionary Game Theory - Forbes



Reply With Quote
The following 5 users say Thank You to Fat Tails for this post:
  #373 (permalink)
 
SMCJB's Avatar
 SMCJB 
Houston TX
Legendary Market Wizard
 
Experience: Advanced
Platform: TT and Stellar
Broker: Advantage Futures
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,033 since Dec 2013
Thanks Given: 4,359
Thanks Received: 10,172



Fat Tails View Post
Both worth reading and entertaining:


Lewis book is very one sided/biased and tries to categorize an entire industry based upon one (relatively small) strategy.
I believe this is the sixth book Lewis has written about financial markets. While all 6 are entertaining reads, they all have demonized the financial markets. I expect future books will do the same.

The WSJ's Scott Patterson's 2012 book Dark Pools: The Rise of the Machine Traders and the Rigging of the U.S. Stock Market is much better.


Reply With Quote
The following 2 users say Thank You to SMCJB for this post:
  #374 (permalink)
 
suko's Avatar
 suko 
Kyoto, Japan
Market Wizard
 
Experience: Intermediate
Platform: TW TOS LiveVol
Broker: TD, TW, IB, Saxo
Trading: VXX, VIX, SPY
Posts: 1,326 since Oct 2013
Thanks Given: 844
Thanks Received: 1,416


SMCJB View Post
Lewis book is very one sided/biased and tries to categorize an entire industry based upon one (relatively small) strategy.
I believe this is the sixth book Lewis has written about financial markets. While all 6 are entertaining reads, they all have demonized the financial markets. I expect future books will do the same.

For Lewis as a writer, this has been a brilliant strategy, pandering to the reader's prurient interests. It's put him on the top of the heap.

It's kind of like Bear Grylls. I don't remember anything about the episodes of his wilderness survival show -- except the money shot that occurs in every show where he bites into some disgusting insect or eats a snake or bat raw.

"This is the most disgusting thing I've ever eaten. But it's got a lot of protein." He says.


Follow me on Twitter Visit my NexusFi Trade Journal Reply With Quote
The following 5 users say Thank You to suko for this post:
  #375 (permalink)
Limitless100
New York, New York
 
Posts: 97 since May 2014
Thanks Given: 163
Thanks Received: 61


suko View Post
For Lewis as a writer, this has been a brilliant strategy, pandering to the reader's prurient interests. It's put him on the top of the heap.

It's kind of like Bear Grylls. I don't remember anything about the episodes of his wilderness survival show -- except the money shot that occurs in every show where he bites into some disgusting insect or eats a snake or bat raw.

"This is the most disgusting thing I've ever eaten. But it's got a lot of protein." He says.


LOL that's an incredible comparison, yet it somehow has legitimacy.

Reply With Quote
  #376 (permalink)
Limitless100
New York, New York
 
Posts: 97 since May 2014
Thanks Given: 163
Thanks Received: 61

I haven't read through this entire thread to see if this book has been mentioned. But what are some opinions about
"Hedge Fund Market Wizards"
His earlier books seemed to have extremely useful lessons/overall themes, I am not finished with this one yet, but so far it seems great.

Reply With Quote
The following user says Thank You to Limitless100 for this post:
  #377 (permalink)
 
Ming80's Avatar
 Ming80 
Singapore
 
Experience: None
Platform: -
Trading: Diversified
Posts: 41 since Jan 2012
Thanks Given: 25
Thanks Received: 51



This is a very beautiful book on the history of how many of the ideas central to finance came about. No charts, nor formulas, but just a captivating write up from the renaissance period till modern day surrounded by colourful personalities in their individual pursuit of ideas but tied in the randomness of the world and the games of chance. It makes one much more appreciative of the numbers and concepts we use.

One of may favourite excerpts in the book :
"This experiment led Galton to propound a general principle that has come to be known as regression, or reversion to the mean: "Reversion," he wrote, "is the tendency of the ideal mean filial type to depart from the parental type, reverting to what may be roughly and perhaps fairly described as the average ancestral type. If this narrowing process were not at work - if large peas produced ever-smaller offspring - the world would consist of nothing but midgets and giants. Nature would become freakier and freakier with every generation, going completely haywire or running out to extremes we cannot even conceive of."

I was never really that interested in the normal distribution until I saw a Galton quincunx machine. Here's one to enjoy - just mute and play your favourite trading music and hope for the best during the trading day!


Reply With Quote
The following 3 users say Thank You to Ming80 for this post:
  #378 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,322 since Jun 2009
Thanks Given: 33,143
Thanks Received: 101,476


Limitless100 View Post
I haven't read through this entire thread to see if this book has been mentioned. But what are some opinions about
"Hedge Fund Market Wizards"
His earlier books seemed to have extremely useful lessons/overall themes, I am not finished with this one yet, but so far it seems great.

You can watch Jack Schwager's nexusfi.com (formerly BMT) webinar about the book here:

https://nexusfi.com/webinars/june30_2012/jack_schwager_qa_hedge_fund_market_wizards/

Mike

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
The following 2 users say Thank You to Big Mike for this post:
  #379 (permalink)
 
SMCJB's Avatar
 SMCJB 
Houston TX
Legendary Market Wizard
 
Experience: Advanced
Platform: TT and Stellar
Broker: Advantage Futures
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,033 since Dec 2013
Thanks Given: 4,359
Thanks Received: 10,172


Ming80 View Post
I was never really that interested in the normal distribution until I saw a Galton quincunx machine. Here's one to enjoy - just mute and play your favourite trading music and hope for the best during the trading day!

Galtonboard / Galtonbrett Simulation (or Bean machine or quincunx or Galton box) - YouTube

Really interesting how much a difference the size of the balls make.

Reply With Quote
  #380 (permalink)
 
Fat Tails's Avatar
 Fat Tails 
Berlin, Europe
Market Wizard
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
Posts: 9,888 since Mar 2010
Thanks Given: 4,242
Thanks Received: 27,102



SMCJB View Post
Lewis book is very one sided/biased and tries to categorize an entire industry based upon one (relatively small) strategy.
I believe this is the sixth book Lewis has written about financial markets. While all 6 are entertaining reads, they all have demonized the financial markets. I expect future books will do the same.

I agree, but Scott Patterson's book comes to the same conclusion, see chapter 22 "A RIGGED GAME". I enjoyed the read of both books.



suko View Post
For Lewis as a writer, this has been a brilliant strategy, pandering to the reader's prurient interests. It's put him on the top of the heap.

It's kind of like Bear Grylls. I don't remember anything about the episodes of his wilderness survival show -- except the money shot that occurs in every show where he bites into some disgusting insect or eats a snake or bat raw.

"This is the most disgusting thing I've ever eaten. But it's got a lot of protein." He says.



Love that comment!

Of course Lewis is a writer first and the reader is taken out for a walk through the financial landscape. The book points to some flaws of the electronic markets and exaggerates them.

However, the book is informative. I was not aware

- to which extent the stock market is fragmentated
- how the stock markets are now competing for high frequency traders by creating collocation space and admitting dirty order types
- to which the complex order routing can be exploited by "plumbers" under Reg NMS to front run the orders coming from dumb money
- that dumb money now represents the entire buy side

Reply With Quote





Last Updated on October 12, 2023


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
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.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts