# What is the best book you've read about investing in the stock market?



## Mostafa (27 May 2006)

Hi,

What is the best book you read about investing in the stock market? 

I want to read some new books.


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## ianhoz (27 May 2006)

I recommend Gary Norden's book 'Technical Analysis and the Active Trader'.


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## dreilly (27 May 2006)

I'm half way through dave guppy's "Share Trading".

Easy to understand.


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## Porper (27 May 2006)

dreilly said:
			
		

> I'm half way through dave guppy's "Share Trading".
> 
> Easy to understand.




I've read too many books to remember, but the best (by a country mile) was the last book I read which was by Nick Radge called "Adaptive Analaysis".

I have re-read it countless times and get something new out of it every time. Maybe not as easy to follow in some areas as the more simplistic books like Guppy's or Louise Bedford but worth it's weight in Gold. 

A must read in my opinion.


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## Julia (27 May 2006)

"Secrets for Profiting in Bull and Bear Markets" by Stan Weinstein

Julia


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## nizar (28 May 2006)

Peter Lynch: One Up on Wall St (1990)


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## pch (28 May 2006)

Good Pick Nizar - I also think one should read "The millionaire next door" right before the Peter Lynch book


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## Dutchy3 (28 May 2006)

I'm with Julia

Weinstein's book continues to challenge me out of the (approx) 50 or so I've bought, read, borrowed over the years.

The biggest gains I've ever made are straight from his pages....


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## chemist (28 May 2006)

The reviews Weinstein's book gets on Amazon are overwhelming of gushing but superficial tone. I do not regard this as a positive. Reports of his trading success indicate that his fund made about 8% pa total return over the 90's. This would have been a substantial underperformance of the broad US market over that period.

cheers,
Chemist


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## grumpee boi (28 May 2006)

The Intelligent Asset Allocator by William Bernstein

Review of it and my other favourites here
http://cfoc.com.au/links.htm

Adam


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## wabbit (28 May 2006)

ianhoz said:
			
		

> I recommend Gary Norden's book 'Technical Analysis and the Active Trader'.




Seconded.


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## Mostafa (30 May 2006)

Thank you,

 many useful books, I was confused how to choose the first book for reading!


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## suhm (30 May 2006)

How come no one mentioned The Intelligent Investor by Ben Graham, best read for the long haul I say.

suhm


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## wayneL (30 May 2006)

Extraordinary Popular Delusions and the Madness of Crowds]Extraordinary Popular Delusions and the Madness of Crowds


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## Bobby (30 May 2006)

wayneL said:
			
		

> Extraordinary Popular Delusions and the Madness of Crowds]Extraordinary Popular Delusions and the Madness of Crowds




No need   to ask who wrote it!

Bob.


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## It's Snake Pliskin (30 May 2006)

chemist said:
			
		

> The reviews Weinstein's book gets on Amazon are overwhelming of gushing but superficial tone. I do not regard this as a positive. Reports of his trading success indicate that his fund made about 8% pa total return over the 90's. This would have been a substantial underperformance of the broad US market over that period.
> 
> cheers,
> Chemist




It's not a bad book but nothing of ground breaking importance in terms of making huge profits or giving the reader something new.

It's an old book that still sells well though. I would like to see him update it.


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## It's Snake Pliskin (30 May 2006)

Mostafa,
Give the Joseph Sammon book a read, it will take you all but 5 mins.


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## wayneL (30 May 2006)

Snake Pliskin said:
			
		

> Mostafa,
> Give the Joseph Sammon book a read, it will take you all but 5 mins.




Do you mean 5 mins. before he chucks it in the bin?


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## It's Snake Pliskin (31 May 2006)

wayneL said:
			
		

> Do you mean 5 mins. before he chucks it in the bin?




Yes, it's the photos in it that will make you do it.

A book for the fundamental minded and biased is "Investment Fables", a must read.


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## blueroo (31 May 2006)

Another one to avoid like the plague would be Markets, Mobs & Mayhem. Underneath the title it says How To Profit From The Madness Of Crowds.

Well blowed if I could find anything on how to profit by it. A complete mis-nomer if you want my opinion


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## binh25 (31 May 2006)

The Intelligent Investor  by late Benjamin Graham 
Buffettology  by Mary Buffett

All these books are emphasis on Value investing, not speculation and trading.


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## Knobby22 (31 May 2006)

The Lord of the Rings.

A clever fable by Tolkien showing the eventual fall of Enron.

As it was written before the fall of Enron, for libel reasons Enron is named Mordor. Halflings repesent ordinary people, Men are the investors, Elves are fund managers and Wizards are the regulators. 
A must read for any present of hopeful future CEO.  5 stars.


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## It's Snake Pliskin (1 June 2006)

What's the similarity of the Davinci Code and stock market books?


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## dreilly (1 June 2006)

Snake Pliskin said:
			
		

> What's the similarity of the Davinci Code and stock market books?




not much id say, but if you made a stock book into a movie and omitted as much critical info as they did in the davinci movie, youd be broke after your first trade.


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## It's Snake Pliskin (1 June 2006)

dreilly said:
			
		

> not much id say, but if you made a stock book into a movie and omitted as much critical info as they did in the davinci movie, youd be broke after your first trade.




That's a very good point. 

But, they are looking for "the holy grail".


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## wayneL (1 June 2006)

Snake Pliskin said:
			
		

> That's a very good point.
> 
> But, they are looking for "the holy grail".




Hah! Great quip!


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## Mostafa (10 June 2006)

Thank you, 

I’ve read some articles about Elliot Wave Theory, do you recommend any books about that?


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## coyotte (10 June 2006)

In order of Kindy to High School ( still not ready for Uni)
We must all start in kindy

Stan Wienstein's  - simple understaning of trading the market

Guppy,s -- Share Trading --- Basic and essential on HOW to trade

Guppy,s -- Trend Trading --- Basic -- Positon Trading -- far safer when your    kicking off


Leon Wilson's -- 1st Book -- takes you to the next level above  Guppy's Trend Trading


Trading in the Zone --- a must read & follow if are to continue on



Now we can start getting fair-dinkum  



Wilson's 2nd book
after you have digested that 

Wilson's 3rd book


Just rember though it's about Trading -- Not --Reading 

YOU have got to do IT -- so as to  LEARN from YOUR mistakes


Sounds like a lesson on life !


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## coyotte (10 June 2006)

HELP

How does one start a new thread on this site ? :newbie:


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## Geared (11 July 2006)

"Reminiscences of a Stock Operator", the great Livermore's trials and tribs.


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## visual (11 July 2006)

nizar said:
			
		

> Peter Lynch: One Up on Wall St (1990)



yep, loved it too.(not important,but picked it up at my local library for 30cents.)


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## NettAssets (12 July 2006)

coyotte said:
			
		

> HELP
> 
> How does one start a new thread on this site ? :newbie:




Its pretty easy

Go to the top box and click on the forum you want to make the thread in

We are in <General Chat ><What is the best book you've read about investing in the stock market?>
at the moment

So if you want to make a thread in GC then click on the GC forum,

A list of all the threads in the forum will come up and on the top left hand top corner is a <new thread> button

Guess what you do with that !  

Regards
John
PS type a NEW thread name or you MAY  go to an old thread


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## Magdoran (18 July 2006)

ianhoz said:
			
		

> I recommend Gary Norden's book 'Technical Analysis and the Active Trader'.




Never heard of it...  Is it any good?

What does it cover?  Anything interesting, (hope there aren't any moving averages/ocillator nonsense in it)?  What is the main thrust?


Magdoran


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## mit (18 July 2006)

pch said:
			
		

> Good Pick Nizar - I also think one should read "The millionaire next door" right before the Peter Lynch book




The "millionaire next door" is not really an investment book but is an eye opener around who has wealth. It makes you think that when you see the plumbers station wagon behind the Merc, who has the money and who is in debt up to their eyeball.

I agree that it should be step one, because getting you expenditure down means that you not only have more left over to spend but your investment income is less before you can retire.

Guppy's books are being dismissed as simplistic and I also read them first, but I think that there are nuggets there that are lost on a beginner and I am about to read them again. Recently, I have discovered things in the market that I have dismissed previously.

Also snapshot trading is a good as it contains a lot of little set-ups. You mighten try them as systems in their own right but are good for finessing entries and exits.

My overall favourite is "Come into My Trading Room" by Elder.

MIT


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## Magdoran (18 July 2006)

mit said:
			
		

> My overall favourite is "Come into My Trading Room" by Elder.




Hi mit,

Re "Come into My Trading Room" by Elder – Really? Which part did you find useful?  The psychology or the method (he actually bags options by the way…)?

Have you read Mark Douglas “Trading in the Zone”?  If so, what did you find in comparison?

Regards


Magdoran


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## mit (18 July 2006)

Magdoran said:
			
		

> Hi mit,
> 
> 
> Re "Come into My Trading Room" by Elder – Really? Which part did you find useful?  The psychology or the method (he actually bags options by the way…)?
> ...




Yes he does bag options and I think all traders have their blind spot. I suppose he is correct from the point of view of a beginner.

I liked the idea of minimal positions. Never have more than 6% of your start of month equity at risk at one time.  For my discretionary I'm moving more to trying for a few excellent trades rather than a scatter gun approach and loading up positions until you run out of equity. This is because I love trading and tend to overtrade.

The idea of trading the swings and trying for a percentage of a swing rather than just get on a trend and ride the hell out of it, which is different. The psychology is pretty standard stuff.


"Trading in the Zone", I own it, I agree with the premise and the idea that you can sometimes get in with the flow of the markets and never seem to fail and psychology is 1/3 of your success or failure.  I thought the book itself was extremely boring and I never finished it. I thought I was commiting sacrilege but I have heard a few others with the same opinion.

MIT


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## bunyip (18 July 2006)

Another good trading book is 'Exploding The Myths' by Frank Watkins.

Easy to understand, no padding, just useful information and simple but effective strategies and systems that you can use to start trading straight away.

Some of you seem to think there's something wrong with simplistic strategies, that they're OK for beginners but if you want to progress you have to learn more advanced techniques. 
I disagree completely. Most of the successfull traders I know are adamant that the simpler their system, the better they trade. 
From my personal experience I agree with them 100%

Bunyip


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## annalivia (29 January 2007)

Hi,

If your sick of looking at squiggly lines, check this book out. If you can wrap your head around this then you are on your way to Warren Buffett country.
Hard to find but google it if you are keen.

PS.The bonus CD-ROM sux but the book is absolutely outstanding.


Market Wise

A book by Brian McNiven

Brian McNiven’s latest book is a must-have reference for anyone interested in managing their own investments. Based on the philosophies of Warren Buffet, Market Wise explains how to ascertain the value of stocks and shares and identify their investment value. A bonus CD-ROM also offers a practical explanation of Brian’s own valuation philosophy.


annalivia


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## theasxgorilla (30 January 2007)

Magdoran said:
			
		

> Re "Come into My Trading Room" by Elder – Really? Which part did you find useful?  The psychology or the method (he actually bags options by the way…)?
> 
> Have you read Mark Douglas “Trading in the Zone”?  If so, what did you find in comparison?




I found the method from "Come into My Trading Room" to be s!h!i!t!e.  I tried to follow it but it just didn't suit me.

The other parts of the book however, such as the "losers anonymous" analogy, were GOLD.  I have it in hardcover and still pick it up from time to time.


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## chops_a_must (30 April 2007)

American Psycho. Without a doubt.


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## Cyber Man (30 April 2007)

Reminiscences of a Stock Operator - by Edwin Lef́aevre


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## lakemac (14 May 2007)

Enhancing Trader Performance - Brett Steenbarger

Very very very dangerous book.
This guy is a psychiatrist and I warn you he will get into your mind faster than an axe wielding psychopath on steroids.

Within two days of reading this book I had to solve several long standing personal issues that cost me $40k before I could even consider resuming trading.

As a result of reading this book you may even want to give up trading entirely. The book has that effect. On the other hand you may work out that yes you are a trader and want to learn how to become the Lance Armstrong or Boris Beckham of trading. This book will show you how.

By the way you will need to buy/rent/borrow a copy of the Karate Kid DVD and watch the "wax on, wax off" scene after reading some of this book. You will see why after you get past page 80.

This book is all about your mindset. Anyone who has traded for a while and lost all their capital because of their psychology will want to - no change that - MUST get this book. It takes off where Mark Douglas's books (The Disciplined Trader and Trading in the Zone) leave off.

It is a book of action. A book of how to. A book that will change your life - either as a trader or maybe not as a trader.

Good luck reading it...


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## BlingBling (18 May 2007)

annalivia said:


> Hi,
> Market Wise
> 
> A book by Brian McNiven
> ...




How does this book rate compared with Buffetology? I'm interested in grabbing a copy but I don't really want to go over stuff I already know..

Cheers


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## >Apocalypto< (18 May 2007)

Technical Analysis of the Financial Markets - John J. Murphy

Great book!

Has done wonders for my trading. It is a guide to most technical chart studies and gives you a good picture of how they work. includes Elliot Wave, time cycles, Gann, Market profile, Fibb, chart basics, great money management chapter and plan + lots more. 

It will really show an array of different approaches and then you can decide on which fits/suits you.

Very happy one of the best 120 bucks I have ever spent.

Before you think it no I don't work for him!

Strongly recommend it.


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## tech/a (18 May 2007)

There are many aspects to study in the Business of Stock and Commodity trading.
I dont think any one book en compasses all.


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## >Apocalypto< (19 May 2007)

tech/a said:


> There are many aspects to study in the Business of Stock and Commodity trading.
> I dont think any one book en compasses all.




What r u trying to say Tech?  

if that is directed to me have you read the table of contents?


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## tech/a (19 May 2007)

Trade_It said:


> What r u trying to say Tech?
> 
> if that is directed to me have you read the table of contents?




Not directed at anyone.
Just a statement.


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## greggy (19 May 2007)

tech/a said:


> Not directed at anyone.
> Just a statement.




Hi tech/a,

For the newbies out there are there any books out there that you would suggest for them to gain a basic understanding of how charting works as you seem to know your stuff pretty well.
Thanks.


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## tech/a (19 May 2007)

Greggy.
There are many aspects to charting.
So in itself you could study a broad range of technical techniques.You could become a specialist in one or a few.
As for charting after 12 yrs the best "Types" of charting in MY view (After studying and discarding others) are.

Steidelmayer---Market Profile---Mind over Markets by Dalton.
Elliot Wave Analysis.----Dynamic Trading by Robert Miner.
Volume Spread analysis---Anything by Wykoff (Always have trouble spelling his name).

Money Management-----The Trading Game Ryan Jones.
Systems testing-----Designing and testing Technical Systems---Perry Kaufmann---The bible!!


Software.
Amibroker coupled with Tradesim (I use metastock).
Tradeguider.
Advanced Get or similar if into Elliot.


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## greggy (22 May 2007)

tech/a said:


> Greggy.
> There are many aspects to charting.
> So in itself you could study a broad range of technical techniques.You could become a specialist in one or a few.
> As for charting after 12 yrs the best "Types" of charting in MY view (After studying and discarding others) are.
> ...



Hi Tech/a,

Thanks for the info.  You're no doubt one of the best chartists going around.  You should write a book. I'll be your first buyer.


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## tech/a (22 May 2007)

Greggy.

I'm not interested in writting anything. Thanks anyway.
Happy to plug along and help out here and Reefcap.

Got better things to do and sick of the grief from those who see genuine attempts to point people in a no nonsense manner in the "my idea of the right direction" as some sort of chest beating and desire for guru status.

Nothing is further from the truth.


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## Broadside (22 May 2007)

Rogue Trader by Nick Leeson is quite enlightening about how at times we delude ourselves and dig a deeper hole for ourselves by going against the market.  There is a time for that but I bet many of us have been guilty at one time or another of rationalising to ourselves sticking to a bad trade and even averaging down further and further till there is no way back.


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## CanOz (22 May 2007)

Broadside said:


> Rogue Trader by Nick Leeson is quite enlightening about how at times we delude ourselves and dig a deeper hole for ourselves by going against the market.  There is a time for that but I bet many of us have been guilty at one time or another of rationalising to ourselves sticking to a bad trade and even averaging down further and further till there is no way back.




I've never ageraged down but i've been guilty of counter trend trading...no more though.

Cheers,


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## It's Snake Pliskin (22 May 2007)

greggy said:


> Hi Tech/a,
> 
> Thanks for the info.  You're no doubt one of the best chartists going around.  You should write a book. I'll be your first buyer.




Greggy,

Some of the concepts have only been discovered by your reverred future book writer - notably Wyckoff.

But yes his charting examples are of value.
Tech, 
You mentioned courses in your other post. What courses have you finished in regards to EW?


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## tech/a (22 May 2007)

Snake.

Years ago I did the Elliot wave online course (8 yrs ago).
I'm working my way though an E/W bootcamp currently (I have purchased).
I'm a member of Nicks chartist.
Other than that self taught in application but looking at and becoming familiar with Gets In house methods.
As you know there are many ways to implement these and other methods into a trading methodology.


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## It's Snake Pliskin (22 May 2007)

tech/a said:


> Snake.
> 
> Years ago I did the Elliot wave online course (8 yrs ago).
> I'm working my way though an E/W bootcamp currently (I have purchased).
> ...




Tech,

Bootcamp? Can you explain more about it?

the chartist; What is Nicks EW return like?

Yes I have a mixture of everything. Some still working on and some totally beginner at, and some proficient at.

I am definately an EW beginner and struggling to feel it with confidence. I ask too many questions to myself which I see as limitations to the method. If it doesn't hit me as SIMPLE but LOGICAL it may be voodoo. But early days and too early to judge it solely.


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## tech/a (22 May 2007)

Bootcamp is the American version of an intensive training course.
This is more directed towards Application of AGet than Elliot Wave analysis itself.

Nicks returns are Around 25% for one off the top of my head and much more for the more Volitile portfolio.
Nick may read this and comment.If not I'll see if he can by emailing him with a direct request.

Elliot once it sinks In is really very simple from a basics view.
Sure you can become quite complex in corrective move analysis but to be profitable applying Elliot I really dont think that complexity is required.

While I'm no expert I have enough confidence in application of what I do know to trade with it. Its very possible as has been seen by those using it to have different counts.
The Thread on maybe this isnt the top shows this.
Wave,Moggie and Radge all had valid counts just as my alternative count was valid---until any or all are proven invalid.
mine just still happens to be valid---doesnt mean other were wrong.

We could start a novice E/W thread for discussion and examples and perhaps a few including yourself may join in.

If interested start one and I'll help where I can. I'm sure I'll learn as much as the next guy!


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## It's Snake Pliskin (22 May 2007)

tech/a said:


> Bootcamp is the American version of an intensive training course.
> This is more directed towards Application of AGet than Elliot Wave analysis itself.
> 
> Nicks returns are Around 25% for one off the top of my head and much more for the more Volitile portfolio.
> ...




Ok thanks. 
There seems to be enough interested in EW that is for sure.


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## CanOz (22 May 2007)

tech/a said:


> Bootcamp is the American version of an intensive training course.
> This is more directed towards Application of AGet than Elliot Wave analysis itself.
> 
> Nicks returns are Around 25% for one off the top of my head and much more for the more Volitile portfolio.
> ...




I'll sure be following any EW thread with great interest. Passively though.

Cheers,


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## sptrawler (22 July 2013)

The best book i read was, Austin Donnelly ' sensible share investing' if you read his tips at the end of the book.
You would have saved yourself some grief.

http://www.smh.com.au/news/obituari...small-investors/2007/09/05/1188783315224.html

A really nice guy.IMO RIP


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## burglar (19 October 2013)

Many noobs are asking!!

So I thought to give this thread a bump!

Cheers. :


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## Trading Tools (26 October 2013)

I don't have one "best" book as I've found a variety of books which cover an individual topic really well... bit like trading in the sense there is no single best/magic formula.  Below however are what i feel are some great titles/authors to consider (for varying reasons).

Nicolas Darvas – “_How I Made $2,000,000 In The Stock Market_” 
Don’t let the title fool you... this is not a technical “how to” book, or detailed manual/plan (and is not even a detailed lesson on the Darvas Box System), and I’m not recommending it for the specific TA strategies or anything like that, however it offers some excellent *“bigger picture” lessons*.

Easy quick reading, entertaining and I believe it is a really insightful book PROVIDED you’re seeing the “bigger picture” lessons it has to offer, to become a consistently profitable trader over the long term such as:

Must develop a personalised plan and find what works for YOU;
This plan MUST have a proven positive expectancy (a positive edge), as no-one knows what will happen next after their trade is placed.... trading is an odds based endeavour and we are constantly forced to make decisions in the face of uncertainty, therefore a tested proven plan that has positive expectancy over a large number of trades is imperative (and a too often overlooked aspect by many traders I believe);
Trading without a proven plan that has positive expectancy (a positive edge) will almost always lead, in the long term, to loss of capital;
Execute your plan with discipline, consistency and patience;
Listening to market noise, rather than following your tested system, generally will lead to poor or ad hoc decision making which invariably leads to inconsistent and/or poor/negative returns;
The importance of recording/journal all your trades, then review and analyse the results.
Even though the book is certainly old now, there really are some valuable lessons to learn about the bigger picture of trading.
If reading this book helps to reinforce how important the above points are to become a consistently profitable trader over the long run, then you will have spent your time very well by reading it.

Other good titles I believe worth considering include:

Richard L. Weissman – “_Trade Like a Casino: Find Your Edge, Manage Risk, and Win Like the House_” (reinforcing the utmost importance of finding, understanding & having confidence that you do have a tested positive edge system over a large number of trades along with managing risk)
Mark Douglas – “_Trading in the Zone_”
Denise Shull – “_Market Mind Games: A Radical Psychology of Investing, Trading and Risk_”
Stan Weinstein – “_Secrets For Profiting in Bull and Bear Markets_” (mainly for his explanation of Market Structure and the 4 key market phases) 
Brett Steenbarger
Cheers
Stuart


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