# Looking for a book



## lindsayf (29 November 2008)

Hi
I know there is a book called something like "Trading the SPI 200 futures"  can anyone steer me towards it please..author, exact title, where I can get it?

thanks


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## jersey10 (29 November 2008)

I have just started reading TRADING THE SPI: A GUIDE TO TRADING INDEX FUTURES IN AUSTRALIA.  It was written by Brent Penfold in 2005.  I got it from my local library.


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## lindsayf (1 December 2008)

thanks!


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## arco (1 December 2008)

lindsayf said:


> Hi
> I know there is a book called something like "Trading the SPI 200 futures"  can anyone steer me towards it please..author, exact title, where I can get it?
> 
> thanks




You should be able to get it locally - try any Borders, Dymocks or Moneybags.
(I've seen lots of copies in Borders/Dymocks in Brisbane)


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## howardbandy (2 December 2008)

Or try Educated Investor Bookshop, 500 Collins Street, Melbourne.

Howard


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## professor_frink (2 December 2008)

or even better, support Joe and the site by buying it from the ASF bookshop

http://www.moneybags.com.au/default.asp?d=0&t=1&id=4945&c=0&a=74


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## pavilion103 (28 October 2011)

I am also looking for some books.....

Just wondering if anyone has any good, I guess biography type books?
I'm not interested in reading for any specific technical info but more for a good enjoyable (and motivating) read. 

I've read 
"Reminiscences of a stock operator" 
"How i made 2,000,000 in stock market"
"Liar's Poker"

I haven't read "The Wolf of Wall Street" yet...

any others that stand out?


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## 5oclock (28 October 2011)

jersey10 said:


> I have just started reading TRADING THE SPI: A GUIDE TO TRADING INDEX FUTURES IN AUSTRALIA.  It was written by Brent Penfold in 2005.  I got it from my local library.




Whats your take on the book so far???


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## Gringotts Bank (28 October 2011)

This guy (link below) is a bit of a stand out, IMO, regarding SPI futures trading.  I don't understand about 1/2 of it, but many others here would.  The bits I do understand, I find very interesting.

http://www.camron.com.au/


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## 5oclock (28 October 2011)

Gringotts Bank said:


> This guy (link below) is a bit of a stand out, IMO, regarding SPI futures trading.  I don't understand about 1/2 of it, but many others here would.  The bits I do understand, I find very interesting.
> 
> http://www.camron.com.au/




Thanks GB will have a bit of a look ! Have you read Penfolds book, if so any thoughts?


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## Gringotts Bank (28 October 2011)

nope, I don't trade futures.  I just liked camron's website because it goes into detail about aspects of trading that are not commonly known.  Things that I can apply to stock trading.


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## Timmy (28 October 2011)

pavilion103 said:


> I am also looking for some books.....
> 
> Just wondering if anyone has any good, I guess biography type books?
> I'm not interested in reading for any specific technical info but more for a good enjoyable (and motivating) read.
> ...




I enjoyed and got a lot out of *Pit Bull* by Martin S. Schwartz.


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## Timmy (28 October 2011)

Gringotts Bank said:


> This guy (link below) is a bit of a stand out, IMO, regarding SPI futures trading.  I don't understand about 1/2 of it, but many others here would.  The bits I do understand, I find very interesting.
> 
> http://www.camron.com.au/




Good link.
He has been around for a long time and has even posted to ASF a few times.
Well worth a visit to his site.


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## pavilion103 (3 November 2011)

Can I please get some recommendations for the best money management books that you have read?


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## howardbandy (4 November 2011)

pavilion103 said:


> Can I please get some recommendations for the best money management books that you have read?




Hi Pavilion --

For basics, read any or all of Ralph Vince's books.  As you go through all five of them, there is some duplication and repetition.  Van Tharp's books are also worth while.

However, neither of them, nor any other author, takes into account that the characteristics of a trading system change as the logic of the system and the data it processes swing in and out of synchronization -- and as a consequence as the profit potential and risk change.  Also, neither looks at the distribution of results -- rather than single values such as average trade, maximum drawdown, and largest losing trade. 

My latest book, Modeling Trading System Performance, discusses all of those.  It asks "Is the system working or is it broken?" and gives some methods for testing.  If a system is broken, then the proper position size is zero.  If a system is working, then an analysis of the distribution of trades (or equity changes) allows estimates of drawdown and profit potential.  Using your own tolerance for drawdown, it explains how to set position size to maximize account growth while keeping drawdown to an acceptable limit with acceptable risk.  

The analysis is done using Excel and is independent of how the list of trades is produced.  They can come from discretionary trading, systematic trading, real results, or hypothetical.  An Excel add-in that manages Monte Carlo simulations is provided.

MTSP is a guide to treating trading as a business.  How equity growth depends on the initial size of the account, mean gain per trade, frequency of trading, expectations of risk and reward over a period of time, etc.  It describes a useful metric that combines distribution of results, potential for profit, and risk of drawdown to allow comparison of systems and position sizing to help determine whether a system is worth trading. 

Thanks for listening,
Howard


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## shulink (12 November 2011)

In my opinion, trading for a living and technical analysis of the financial market are the best books.


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## pavilion103 (12 November 2011)

Has anyone read, "The Big Short"? It seems to have gotten good reviews.


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## mr. jeff (12 November 2011)

It's interesting and a good story...surprising how out of control some of the large financials are. I guess that is naivetÃ© on my part, so I would rate it 7/10 - no learning potential really, but it has a good story (a little disjointed), overall a good insight into a bit of what happened during the GFC.


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## pavilion103 (12 November 2011)

mr. jeff said:


> It's interesting and a good story...surprising how out of control some of the large financials are. I guess that is naivetÃ© on my part, so I would rate it 7/10 - no learning potential really, but it has a good story (a little disjointed), overall a good insight into a bit of what happened during the GFC.




Yeh, I'm not really after an educational book, just an interesting read. 


What do people think about Crashproof?? Is this more of a story/easy read or a bit heavy?
A mate has got this one. It is similar style to "The Big Short"? Which one do people recommend to read?


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## howardbandy (13 November 2011)

pavilion103 said:


> Yeh, I'm not really after an educational book, just an interesting read.
> 
> 
> What do people think about Crashproof?? Is this more of a story/easy read or a bit heavy?
> A mate has got this one. It is similar style to "The Big Short"? Which one do people recommend to read?




Greetings --

There is an extensive list of books related to trading on my website:

http://www.blueowlpress.com/WordPress/

Click on the "Resources" link in the blue bar along the top.  Then click on the "books" link to go directly to the list of books and articles.

The "Blogs worth exploring" might be interesting as well.

Thanks,
Howard


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## pavilion103 (30 December 2011)

Howard, I ordered your book. It arrived this week. 

I've been very busy but I'm very excited to get stuck into it shortly.


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## howardbandy (31 December 2011)

Hi Pavilion, and all --

Thanks for your support.

When you have a chance, visit my blog at
http://www.blueowlpress.com/WordPress/

There is a lot of free information, including articles discussing various aspects of trading system design, testing, validation, and analysis.

You can register for free (anonymously if you wish), post comments about the material, and ask questions.  I plan to write more articles about topics that readers feel are important.

Among the points I emphasize is that while position sizing is very important, it cannot be done without:
1.  Careful analysis of the distribution of trading results to determine profit potential and risk.  Using scalar values, such as mean, standard deviation, and largest loss is insufficient.
2.  Comparing the risk of a drawdown of some amount with the trader's personal tolerance for risk.
3.  Monitoring the ongoing health of the system, adjusting position size as needed.

The correct position size for a system that is broken is zero.

Thanks,
Howard


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