Something Interesting to Read June 2015
Forum on trading, automated trading systems and testing trading strategies
Something Interesting to Read February 2015
Sergey Golubev, 2015.02.11 10:07
Entries & Exits: Visits to 16 Trading Roomsby Alexander Elder
Come behind closed doors and see real trades made by real traders.
Dr. Alexander Elder leads you into 16 trading rooms where you meet traders who open up their diaries and show you their trades.
Some of them manage money, others trade for themselves; some trade for a living, others are on the semi-professional level. All are totally serious and honest in sharing their trades with those who would like to learn.
You will meet American and international traders who trade stocks, futures, and options using a variety of methods. All are normally very private, but now, thanks to their relationships with Dr. Elder, you can see exactly how these traders decide to enter and exit trades.
Each chapter illustrates an entry and an exit for two trades, with comments by Dr. Elder.
With this book as your guide, you can get closer to mastering the key themes of trading-psychology, tactics, risk control, record keeping, and the decision-making process.
The companion Study Guide is filled with striking insights and practical advice allowing you to test your knowledge and reinforce the principles outlined in Entries & Exits.
Forum on trading, automated trading systems and testing trading strategies
Something Interesting to Read March 2014
Sergey Golubev, 2014.03.01 20:59
Human Action: A Treatise on Economics
Paperback
by
Ludwig Von Mises
2012 Reprint of 1949 Edition. Exact facsimile of the original edition,
not reproduced with Optical Recognition Software. "Human Action: A
Treatise on Economics" is the first comprehensive treatise on economics
written by a leading member of the modern Austrian school of economics.
Von Mises contribution was very simple, yet at the same time extremely
profound: he pointed out that the whole economy is the result of what
individuals do. Individuals act, choose, cooperate, compete, and trade
with one another. In this way Mises explained how complex market
phenomena develop. Mises did not simply describe economic phenomena -
prices, wages, interest rates, money, monopoly and even the trade cycle -
he explained them as the outcomes of countless conscious, purposive
actions, choices, and preferences of individuals, each of whom was
trying as best as he or she could under the circumstances to attain
various wants and ends and to avoid undesired consequences. Hence the
title Mises chose for his economic treatise, "Human Action."
Forum on trading, automated trading systems and testing trading strategies
Something Interesting to Read April 2014
Sergey Golubev, 2014.03.31 05:59
Trades About To Happens : A Modern Adaptation Of The Wyckoff Method
While Richard Wyckoff's search to develop a "trained judgment" for
trading began decades ago, his method—which has been modified to account
for changes in market conditions, but remains true to his original
work—continues to draw great interest from traders around the world.
Author David Weis is a trader and market analyst with nearly forty years
of experience in this field. A recognized authority on the trading
methods of Richard Wyckoff, he understands how to utilize the principles
behind Wyckoff's work and make effective trades with them. And now,
with Trades About to Happen, he skillfully reveals how to adapt
Wyckoff's techniques to excel in today's volatile markets.
Engaging and accessible, this reliable resource looks at Wyckoff's
approach from a more modern perspective and shows how you can logically
interpret bar charts and wave charts to find trades about to happen. By
studying the chart examples in this book, you'll gain tremendous insight
into reading what markets are saying about themselves and develop the
ability to locate turning points of different degrees. Page by page,
Weis facilitates your learning by:
- Comparing efforts of buying or selling with the reward—volume versus upward or downward progress
- Considering the meaning of the close within the range of a price bar
- Looking for shortening of upward or downward thrust as well as follow-through, or lack of follow- through, after penetrations of support resistance
- Exploring the interaction of price with trend lines, channels, and support/resistance lines—which often highlight the price/volume story
- Watching for tests of high-volume or "vertical" areas where price accelerates upward or downward
-
And much more
Along the way, Weis introduces the adaptations he has made to Wyckoff's
original tape-reading tools—which are better suited for the enormous
volatility of today's stock and futures markets—and can be applied to
intraday and daily price movement.
When it comes to Wyckoff analysis, it's easy to forget that the world of
chart reading is not black or white, but gray. One has to have an open
mind rather than a fixed, pre-conceived ideal. Trades About to Happen
will help you achieve this goal as you discover how to develop the feel
and intuition of a successful trader and become better equipped at
adapting the Wyckoff method to today's dynamic markets.
Forum on trading, automated trading systems and testing trading strategies
Something Interesting to Read November 2014
Muhammad Syamil Bin Abdullah, 2014.11.08 08:16
Overcome psychological obstacles to increase trading success Successful traders need to be well-versed and skilled in a wide range of business and economic areas. But now, in addition to effective trading strategies and sound money management techniques, traders need to possess the know-how to handle the mental and emotional challenges of working in a highly volatile environment. Excellence in Trading is a unique resource that applies cutting-edge psychological techniques to trading skills, allowing readers to improve their mental outlooks and maximize the potential of their trading strategies. This book draws upon recent psychological research in behaviorism to teach new approaches that call for better focus, more confidence, and more positive perspectives and outcomes. One of the key concepts covered in the book is mindfulness, a state of mind traditionally touted in the East for its ability to reduce stress and increase perspective, useful qualities for traders looking to rise above emotional obstacles and the poor results they cause. The author also discusses the importance of High Value Trading Actions (HVAs), specific actions that are under a trader's control. With this guide, trading professionals will be able to form solid strategies based on a combination of these notions and practices, leading to higher levels of trading performance. Applies sound psychological practice and evidence-based research to the trading profession Covers the psychological perspectives and mental skills needed to succeed in today's trading world Focuses on key concepts that lead to deliberate practice, specific trading activities, and increased awareness and focus Designed to help traders deal with the emotional challenges that come with uncertainty and risk Excellence in Trading touches on the most essential concepts for anyone intrigued by what trading psychology has to offer, and delivers the best strategies for achieving the right mental skills for peak performance.
Forum on trading, automated trading systems and testing trading strategies
Something Interesting to Read November 2014
Sergey Golubev, 2014.11.17 10:11
24 Essential Lessons for Investment Success: Learn the Most Important Investment Techniques from the Founder of Investor's Business Dailyby William J. O'Neil
The Wall Street Journal, New York Times, BusinessWeek, and USA Today Business Bestseller!
From the publisher of Investor's Business Daily and best-selling author of How to Make Money in Stocks, comes the National Bestseller, 24 Essential Lessons for Investment Success, two dozen of the most important lessons for investors. In this one accessible guide, William J. O'Neil puts his popular and easy-to-follow techniques for building a profitable portfolio firmaly in the hands of investorsand the goal of long-term financial security easily within their reach.
24 Essential Lessons for Investment Success is based upon the closely followed "26 Weeks to Investment Success" editorials that appear in Investor's Business Daily. Edited and updated, O'Neil's timeless advice encapsulates such investing nuggets as buy high and sell higher to making a million in mutual funds. Concentrate your investments in a few areas, know them well, and watch them carefully.
Don't just rely upon PE ratios and other common technical tools. Learn to use Relative Price Strength to help you choose stocks. O'Neil's cautionary yet pro-active advice has helped to make Investor's Business Daily one of America's fastest growing and most respected newspapers. Now investor's can benefit from his timeless words of wisdom, collected in one easy-to-use resource.
The Fundamental Rules of Risk Management, Nigel Da Costa Lewis
The consequences of taking on risk can be ruinous to personal finances,
professional careers, corporate survivability, and even nation states.
Yet many risk managers do not have a clear understanding of the basics.
Requiring no statistical or mathematical background, The Fundamental
Rules of Risk Management gives you the knowledge to successfully handle
risk in your organization.
The book begins with a deep investigation into the behavioral roots of
risk. Using both historical and contemporary contexts, author Nigel Da
Costa Lewis carefully details the indisputable truths surrounding many
of the behavioral biases that induce risk. He exposes the fallacy of the
wisdom of experts, explains why you cannot rely on regulators, outlines
the characteristics of the "glad game," and demonstrates how high
intelligence or lack thereof can lead to loss of hard-earned wealth. He
also discusses the weaknesses and failures of modern risk management.
Moving on to elements often overlooked by risk managers, Dr. Lewis
traces the link between corporate governance and risk management. He
then covers core lessons surrounding the role of risk managers as well
as the difficult subject of integrated, single lens analysis of risk.
The book also explores aspects of spreadsheet risk and draws on lessons
learned in the information systems and software engineering communities
to provide guidance on selecting the right risk management system. It
concludes with a discussion on the most dominant of risk measures—value
at risk.
Having a clear understanding about risk separates successful
professionals, companies, and economies from history’s forgotten
failures. Through examples and case studies, this thought-provoking book
shows how the rules of risk can work to protect and enhance investor
value.
Bernard M. Baruch: The Adventures of a Wall Street Legend
Not many financial figures develop reputations that outlast their
lifetimes, but the subject of James Grant's comprehensive 1983 biography
is one of them. Re-released with a new foreword, Bernard Baruch: The Adventures Of A Wall Street Legend
tells the inspiring story of an extraordinary financier who made his
first million at the turn of the century and was eventually asked to
share his knowledge with every U.S. president from Woodrow Wilson to
John F. Kennedy.
Forum on trading, automated trading systems and testing trading strategies
Something Interesting to Read November 2014
Sergey Golubev, 2014.11.19 18:56
How Legendary Traders Made Millions: Profiting From the Investment Strategies of the Gretest Traders of All timeby John Boik
From the author of three market books published by McGraw-Hill, Lessons From the Greatest Stock Traders of All Time was chosen by Barron's as one of the top 25 Best Books of 2004. A former stockbroker and currently a financial controller, his second book was released in April 2006 titled How Legendary Traders Made Millions.
Learn how to generate profit, from history's most celebrated traders including William J. O'Neil, Jesse Livermore, and others.
In How Legendary Traders Made Millions, award-winning investment author and historian John Boik has created the first book to put the strategies of history's top traders in one place. Revealing how each trader took advantage of distinct market situations, it details the hands-on specifics of each trade as well as the economic, political, and stock market environments in which the strategy flourished.
Forum on trading, automated trading systems and testing trading strategies
Something Interesting to Read December 2014
Sergey Golubev, 2014.12.03 06:06
Super Trader, Expanded Edition: Make Consistent Profits in Good and Bad Markets
by
Van Tharp
"Let your profits run!" It's the golden rule by which all Super Traders live. With the help of investing guru Dr. Van K. Tharp, you can join the ranks of full-time traders who consistently master the market.
Super Trader provides a time-tested strategy for creating the conditions that allow you to reach levels of trading success you never thought possible. Providing expert insight into both trading practices and psychology, Tharp teaches you how to steadily cut losses short and meet your investment goals through the use of position sizing strategies--the keys to steady profitability. Tharp offers concepts and tactics designed to help you:
- CREATE AND MEET YOUR SPECIFIC
- UNDERSTAND THE BIG PICTURE
- CONQUER COUNTERPRODUCTIVE THINKING
- MASTER THE ART OF POSITION SIZING STRATEGIES
With Tharp's proven methods, you can live the dream of enjoying above-average profits under various market conditions--up, down, and sideways. Tharp's wisdom, perspective, and tactical expertise are legendary in the world of trading. Follow the master down the path to trading excellence with Super Trader.
How do you transform yourself from a mild-mannered investor into a proactive trader who outperforms the market day-in and day-out. Think clearly. Plan accordingly. Commit completely. In other words, become a trader. No one is better suited to help you make the transformation than legendary trading educator Dr. Van K. Tharp.
Combining the sharp insight and technical brilliance that have drawn legions of investors to his books and seminars, Tharp provides a holistic approach for becoming a successful full-time trader. His system--a meld of investing psychology and sound trading practice--is the secret to achieving optimum conditions that produce results in both bull and bear markets.
Using the lessons of Super Trader, you will approach trading as you would a small business--realistically, systematically, and enthusiastically. Drawing on his decades of experience, Tharp has created a simple plan designed to help anyone successfully navigate the market that includes the following:
- Mastering the psychology of trading
- Crafting a "business plan"--a working document to guide your trading
- Developing a trading system tailored to your personal needs and skills
- Creating position sizing strategies to meet your objectives
- Monitoring yourself constantly to minimize mistakes You can put this plan to use immediately.
Throughout the book, Tharp raises the pertinent questions you must ask yourself about becoming a trader, being a trader, and succeeding as a trader.
The rewards that come with being a Super Trader--both financial and personal--make you feel as if you can leap small buildings in a single bound.
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
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