Something Interesting to Read - page 14
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Systematic Trading: A unique new method for designing trading and investing systems
This is not just another book with yet another trading system. This is a complete guide to developing your own systems to help you make and execute trading and investing decisions. It is intended for everyone who wishes to systematise their financial decision making, either completely or to some degree.
As the traders/users are asked for the book about chart patterns so I want to remind the following book:
Forum on trading, automated trading systems and testing trading strategies
Something Interesting to Read
Sergey Golubev, 2019.05.21 07:01
Trading Classic Chart Patternsby Thomas Bulkowski
Use popular chart patterns profitably
In his follow-up to the well-received Encyclopedia of Chart Patterns, Thomas Bulkowski gives traders a practical game plan to capitalize on established chart patterns. Written for the novice investor but with techniques for the professional, Trading Classic Chart Patterns includes easy-to-use performance tables, vivid case studies, and a scoring system that makes trading chart patterns simple. This comprehensive guide skillfully gives investors straightforward solutions to profitably trading chart patterns. Trading Classic Chart Patterns also serves as a handy reference guide for favorite chart patterns, including broadening tops, head-and-shoulders, rectangles, triangles, and double and triple bottoms. Filled with numerous techniques, strategies, and insights, Trading Classic Chart Patterns fits perfectly into any pattern trader's arsenal.
Thomas N. Bulkowski (Keller, TX), an active investor since 1981, is the author of the highly acclaimed Encyclopedia of Chart Patterns as well as numerous articles for Technical Analysis of Stocks & Commodities. Trained as a computer engineer, Bulkowski worked for over a decade at Tandy Corporation. Prior to that, he worked on the Patriot air defense system for Raytheon.
New technology and the advent of around the clock trading have opened the floodgates to both foreign and domestic markets. Traders need the wisdom of industry veterans and the vision of innovators in today's volatile financial marketplace. The Wiley Trading series features books by traders who have survived the market's ever changing temperament and have prospered-some by reinventing systems, others by getting back to basics. Whether a novice trader, professional or somewhere in-between, these books will provide the advice and strategies needed to prosper today and well into the future.
The Psychology of Trading by Brett N. Steenbarger
The Trader’s Handbook (2025)
by Richard Moglen, Ameet Rai, Nick Schmidt, and Ross Haber
Benjamin Graham : Security Analysis
From a trader’s perspective, Security Analysis by Benjamin Graham and David Dodd is not just a textbook—it’s the foundation of disciplined, rational market thinking. Originally published in 1934 during the depths of the Great Depression, this monumental work is often seen as the birthplace of value investing, but traders can extract far more than long-term investment philosophy from its pages.For traders, especially those focused on fundamentals, Security Analysis provides a rigorous blueprint for understanding the true intrinsic value of securities. Graham and Dodd dissect the difference between price and value, a concept that remains essential for any trader looking to exploit market inefficiencies. They teach that markets are often irrational in the short term, creating mispricings that a skilled trader can capitalize on—whether through mean reversion strategies, event-driven trades, or relative value plays.
One of the key lessons for traders is the margin of safety—the idea that you should only take positions where the market price is significantly below the calculated intrinsic value. For a trader, this isn't just a long-term cushion; it's a tactical edge that improves the probability of profitable trades. Trading based on thin margins and over-optimized positions is the opposite of what Graham and Dodd would recommend.
The book also forces traders to dive into deep analysis of balance sheets, income statements, and industry dynamics. It’s not about chasing momentum or reacting to headlines; it’s about building a framework that lets you understand why a price move is justified—or why it’s purely speculative.
For technical traders, Security Analysis may seem overly cautious or slow, but even here, the philosophy of focusing on asymmetric risk-reward setups aligns with sound trading principles. Graham and Dodd remind traders that markets can remain irrational longer than a leveraged position can survive, making risk management and position sizing critical.
Ultimately, Security Analysis teaches traders to think beyond price ticks and candlesticks. It demands patience, discipline, and the humility to know that markets are wild, but probabilities—if properly assessed—are your best weapon. For the trader who seeks sustainable success, the book offers a timeless edge: trade where the odds, not just the price action, are in your favor.
Mike Bellafiore’s book, "One Good Trade: Inside the Highly Competitive World of Proprietary Trading"
Mike Bellafiore’s book, "One Good Trade: Inside the Highly Competitive World of Proprietary Trading," offers a rare and insightful look into the life of a professional trader at a proprietary trading firm. As co-founder of SMB Capital, Bellafiore pulls back the curtain on what it truly takes to succeed in one of the most demanding and unforgiving environments in finance.
The core message of the book revolves around the concept of making "one good trade"—a trade that is well-planned, well-executed, and aligns with the trader’s strategy and risk parameters. Rather than chasing profits or glory, Bellafiore emphasizes the importance of discipline, process, and continuous improvement. This principle serves as a guiding philosophy for developing consistency in performance.
Through real-life stories and trader case studies, Bellafiore shares both the triumphs and failures of those on the trading desk. He provides an honest portrayal of the emotional and psychological challenges traders face daily—fear, greed, overconfidence, and doubt—and how successful traders build mental resilience and self-awareness to manage them.
What makes "One Good Trade" stand out is its hands-on, practical approach. Bellafiore doesn’t just discuss trading strategies—he shows how traders are trained, how their performance is evaluated, and what separates average traders from elite performers. Topics such as journaling, reviewing trades, setting goals, and building playbooks are given equal weight to market analysis and technical skills.
The book also highlights the shift in the trading world from instinct-based decisions to data-driven analysis and structured routines. In an era where edge is fleeting and competition is global, the trader who survives is the one who treats trading as a craft.
"One Good Trade" is essential reading for aspiring traders and market professionals. It’s not a get-rich-quick manual, but a deep dive into the mindset and habits needed to thrive in modern trading. In Bellafiore’s words, it’s not about the home run—it’s about showing up every day and doing the work to make that one good trade.
I recommend especially for beginners Trade Your Way to Financial Freedom 2nd Edition by Van K. Tharp :
Another book i recommend is The Complete TurtleTrader: How 23 Novice Investors Became Overnight Millionaires. In the book it is presented the turtle experiment and the method they used for trading.