# Books For Day Trading



## chops_a_must (14 December 2006)

I have a lady friend who is wanting to eventually become a full time day trader. I was wondering if there are any books you guys could recommend for such a person. Detail, technicalities and difficulty in concepts are not a problem here, she is a smart one (otherwise I wouldn't be messing with her), so any titles or authors you could recommend would be great.

Thanks in advance.


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## nizar (14 December 2006)

Van Tharp - Trade your way to financial freedom.


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## professor_frink (14 December 2006)

Chops, tell your lady friend to try Tony Oz-The stock trader. 

Nizar, what part of that book deals with day trading? It's been a while since I've read it, but I don't recall anything in there about daytrading


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## CanOz (14 December 2006)

chops_a_must said:
			
		

> I have a lady friend who is wanting to eventually become a full time day trader. I was wondering if there are any books you guys could recommend for such a person. Detail, technicalities and difficulty in concepts are not a problem here, she is a smart one (otherwise I wouldn't be messing with her), so any titles or authors you could recommend would be great.
> 
> Thanks in advance.




Adaptive Analysis by Nick Radge

Master the Markets by Tom Williams

Candlestick Charting by Louise Bedford (just as an intro to candles)


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## It's Snake Pliskin (14 December 2006)

nizar said:
			
		

> Van Tharp - Trade your way to financial freedom.




Not really a day trading book.

Van has a day trading book with a similar cover though:
http://www.amazon.co.jp/Financial-F...1/250-4869039-7353023?ie=UTF8&s=english-books

Sure it's not for you chop?


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## nizar (14 December 2006)

professor_frink said:
			
		

> Nizar, what part of that book deals with day trading? It's been a while since I've read it, but I don't recall anything in there about daytrading




Well it will help her develop a system for trading any sort of time frame.


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## professor_frink (14 December 2006)

CanOz said:
			
		

> Adaptive Analysis by Nick Radge
> 
> Master the Markets by Tom Williams
> 
> Candlestick Charting by Louise Bedford (just as an intro to candles)



Personally haven't found much benefit to using candles for daytrading, but it would depend on the timeframe- On a 2 minute chart, the difference between the various patterns can be 1 buy or sell order. They could be of slightly more use on a half hourly or hourly chart.


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## chops_a_must (20 December 2006)

It's Snake Pliskin said:
			
		

> Sure it's not for you chop?



No, it's definitely not for me. I work for myself and that is stressful enough. I'm 22 and going grey, and have had several bouts of severe stress related illnesses so far. Although, I would like to get into a position where I can trade just for fun, without it really mattering. So I'm sure I'll end up reading these books anyway.

And thanks for all of the help in this thread guys. I would let you know what I decided on, but I think she is stalking me on here. She is one smart cookie, which is something I don't get to say about someone often, so nothing would surprise me.

Anyway, I'll let you know how it goes!


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## Bobby (20 December 2006)

Chops I just had a look in my library, found a book on day trading I once read on a long flight some years back.
Its an easy read & entertaining.

A beginners guide to Day Trading Online.
By  Toni Turner.


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## coyotte (20 December 2006)

Guppy's  "Snapshot Trading"


Cheers


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## joslad (20 December 2006)

Rules of the trade.  by David S Nassar.

Easily one of the best books I've read on day trading.


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## Devil_Star (20 December 2006)

I'd recommend CFD to all day traders. Great tools for short term traders: Leverage, short selling, cheap commissions, and dividend payment on ex-div date etc. Personally, I prefer CFD to options & futures contracts. 

For books about CFDs, Catherine Davey's 'Making Money from CFD trading' is easy to read.


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## nizar (26 December 2006)

Has any1 read:

Trading for a living: Psychology, Trading tactics, Money management
By Dr. Alexander Elder (1993).

Any thoughts on it?

Amazon gives it 4.5stars based on 165 customer reviews...


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## blues (26 December 2006)

I have read Alexander Elder's book and found it excellent. It was recommended to me by a number of friends in the investment community and I found it very informative. It even come with a study guide to help you with examples.

Cheers.


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## MichaelD (26 December 2006)

nizar said:
			
		

> Has any1 read:
> 
> Trading for a living: Psychology, Trading tactics, Money management
> By Dr. Alexander Elder (1993).



He has a newer book which supercedes this one - Come Into My Trading Room. This is an expensive and long book ($75) but it has many insights into trading as a business that I have not read anywhere else. It's worth every cent.


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## It's Snake Pliskin (26 December 2006)

nizar said:
			
		

> Has any1 read:
> 
> Trading for a living: Psychology, Trading tactics, Money management
> By Dr. Alexander Elder (1993).
> ...




I have the abridged version on cds. It is good entertainment. Far cheaper than the book.


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## nizar (26 December 2006)

Thanks all for your thoughts.
Stevo/Tech id be keen to hear your opinions if you have read it.

As for you Snake:



			
				It's Snake Pliskin said:
			
		

> I have the abridged version on cds. *It is good entertainment.* Far cheaper than the book.




Do you mean entertainment or education?
Or are you just so pro that trading is just fun for you now?
Haha, keep up the good work champ


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## It's Snake Pliskin (27 December 2006)

nizar said:
			
		

> As for you Snake:
> 
> Do you mean entertainment or education?
> Or are you just so pro that trading is just fun for you now?
> Haha, keep up the good work champ




No it is good entertainment because some books can be a bore to read. I have read many, I mean many. Listening to the cd's allows you to listen and think while some guy with a convincing voice spells it all out. The only annoying thing is you have to rewind it to listen to some "important" parts, and there are some.


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## caleb2003 (27 December 2006)

Come into my trading room is great but really is not focused on day trading infact discourages it completely for new traders.

Is anyone here actually trading with his triple screen system and doing ok from it?


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## chops_a_must (2 January 2007)

While I can't sleep, I might as well tell you what I ended up deciding on.

Adaptive Analysis - Nick Radge
Mastering the Trade - John F. Carter
The New Market Wizards - Jack D. Schwager

Thumbing through them they looked great, and she seemed rather pleased with the choices. The only comment I have got so far (she is through the first part of Adaptive Analysis) is that it is rather egotistical. But I guess that is to be expected.

Anyway, when I get to it, I'll post my opinion in the Adaptive Analysis thread.

Many thanks for all of the ideas here!

Cheers,
Chops.


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## Pager (2 January 2007)

“Long term secrets to short term trading” by Larry Williams, a book mainly about futures markets but similar ideas work on stocks and CFD,s, it will give you ideas of the type of set ups and patterns that can work on many short term time frames.

Larry has his knockers but it is a good read and will get you looking at the market from a different perspective IMO, although i wouldnt use the ideas presented in the book in there raw form.

Other books are, Nick Radges "Everyday traders", similar to Market Wizards but with an Aussie flavour.

Good luck

Pager


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## nizar (2 January 2007)

Pager said:
			
		

> “Long term secrets to short term trading” by Larry Williams, a book mainly about futures markets but similar ideas work on stocks and CFD,s, it will give you ideas of the type of set ups and patterns that can work on many short term time frames.
> 
> Larry has his knockers but it is a good read and will get you looking at the market from a different perspective IMO, although i wouldnt use the ideas presented in the book in there raw form.
> 
> ...




Back in the 80s, Williams made an absolute killing in the futures market. There was some competition back in '87 where he turned *10k to 1million+ in 12 months. * Gallacher speaks of him in his Winner take all book. 

Wat a legend.


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## Kauri (2 January 2007)

nizar said:
			
		

> Back in the 80s, Williams made an absolute killing in the futures market. There was some competition back in '87 where he turned *10k to 1million+ in 12 months. *Gallacher speaks of him in his Winner take all book.
> 
> Wat a legend.




  Was a bit of controversy surrounding that 10k to 1 million World Cup Challenge.



> In 1987, Robbins Trading Company - a commodity futures brokerage firm -
> sponsored a trading contest titled, rather immodestly, The World Cup of
> Futures Trading.  To enter this competition, a contestant had to open a
> $10,000 account with Robbins.  The prize was to go to whoever made the
> ...


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## It's Snake Pliskin (2 January 2007)

nizar said:
			
		

> Back in the 80s, Williams made an absolute killing in the futures market. There was some competition back in '87 where he turned *10k to 1million+ in 12 months. * Gallacher speaks of him in his Winner take all book.
> 
> Wat a legend.




And he trades live too. He would really turn Duc on


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## It's Snake Pliskin (2 January 2007)

chops_a_must said:
			
		

> The only comment I have got so far (she is through the first part of Adaptive Analysis) is that it is rather egotistical. But I guess that is to be expected.




Why is it to be expected?


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## chops_a_must (2 January 2007)

It's Snake Pliskin said:
			
		

> Why is it to be expected?



If someone is giving advice, it is hard for them not to be. But I think in trading, it is especially prevalent, because success is easily measured and comparable.


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## It's Snake Pliskin (3 January 2007)

chops_a_must said:
			
		

> If someone is giving advice, it is hard for them not to be. But I think in trading, it is especially prevalent, because success is easily measured and comparable.




Fair enough.


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