This is the thread about books related for stocks, forex, financial
market and economics. Please make a post about books with possible cover
image, short description and official link to buy (amazon for example).
Posts with links to unofficial resellers will be deleted
Forum on trading, automated trading systems and testing trading strategies
Something Interesting to Read June 2014
matfx, 2014.06.27 08:37
Trading Exchanges Market Microstructure Practitioners : Larry Harris
This book is about trading, the people who trade securities and
contracts, the marketplaces where they trade, and the rules that govern
it. Readers will learn about investors, brokers, dealers, arbitrageurs,
retail traders, day traders, rogue traders, and gamblers; exchanges,
boards of trade, dealer networks, ECNs (electronic communications
networks), crossing markets, and pink sheets. Also covered in this text
are single price auctions, open outcry auctions, and brokered markets
limit orders, market orders, and stop orders. Finally, the author covers
the areas of program trades, block trades, and short trades, price
priority, time precedence, public order precedence, and display
precedence, insider trading, scalping, and bluffing, and investing,
speculating, and gambling.
matfx, 2014.06.28 08:35
Inside The Black Box : Rishi K Narang
Whether you call it quant, algo, or black box trading, it all adds up
to the same thing: systematic trading performed by computers.
some decry it as dangerously detached from human control, and a driver
of excessive volatility in the markets, others see quantitative trading
as a welcome departure from the unruly passions and cognitive biases
that inform human investment decision making.
Say what you will
about quant trading, the fact is, overall, quant funds consistently
outperform the markets—which may be why so many smart investors are keen
to avail themselves of that black box magic.
remains obscure about quantitative trading, thanks in great part to the
extreme guardedness of quants when it comes to the details of how their
systems work. But, as quant-trader and master explainer Rishi Narang
deftly shows in this updated edition of his bestselling guide,
quantitative trading is much easier to understand and take advantage of
than you think.
Designed to make quantitative trading
comprehensible to even the most math- or technophobic investor, this
book takes you on a guided tour inside the black box. In plain English,
Mr. Narang turns the lights up on what the quants are up to, once and
for all lifting the veil of mystery surrounding quantitative trading and
quantitative trading strategies.
Following a concise introduction
to quantitative trading principles and general practices, Mr. Narang
cuts to the chase with a detailed inventory of the contents of a typical
black box system, explaining, in non-technical terms, what each one is
and how it fits together with the others.
Then, with the help of numerous real-world examples and lively anecdotes, he clearly explains:
A book that lifts the lid on black box trading, making it transparent, intuitively sensible, and readily understandable, Inside the Black Box
is a must-read for institutional investors, asset managers, investment
advisors, pension fund managers, and all savvy investors looking to gain
an edge in today's turbulent financial markets.
The Holy Grail Trading System
The true story of a 100% mechanical automated forex trading system that
returned over 1000% inside 13 months turning 10,000 GBP to over 100,000
In 2005 I discovered what I believed was the ultimate financial trading
system using the foreign exchange market ( known as the forex market )
To be the ultimate 'Holy Grail' foreign exchange trading system it would
have the ability to automatically trade and have zero discretion with
no technical analysis or reliance on technical indicators. In short, a
100% mechanical trading system in which the person using it does not
matter, the result will be the same.
It would be a currency trading system that takes away the problems of
trading psychology. It does not care if you are having a bad day, are on
holiday, or if you have had an argument with your partner in the last
hour. The trading entries, exits, trailing stops and risk management
must have no user input whatsoever. All the user has to do is switch it
on and wait.
The trading forums of the internet are full of people searching for this
ultimate trading system. Thousands of traders every day search, test
and simulate for hours using forex analysis looking for this 'golden
egg' laying goose. Most believe that such a trading strategy does not
exist nor ever has. This book is here to prove to you that such a
trading system did exist and was discovered by a few home based forex
traders just like you.
It can be found again.
Here is our question to you.
"What would you do if you found such a simple day trading system?" One
that worked month after month? One that had proved itself not just for
weeks or months, but for years?
How much would you risk?
How would you trade it?
How would your emotions handle such a 'guaranteed' trading system?
Well, Not only does this trading book tell the story of how the trading
system was built, it also gives you the full trading system and
strategy, for the very first time.
The actual Forex trading methodology has remained a closely guarded
secret for over 10 years! For the first time ever nothing is held back,
Trade by trade entry levels
Trade exit levels
Optimum risk management strategy
Trailing stop settings
Full results and account screenshots
Could you be the next trader to find a Holy Grail system? The clues are all here.
You Will Discover...
What changes you should be wary of when trading your forex strategies
What happens to your mind when all of your hard work comes together - the trading psychology
What happens when everything looks wrong
The true reason for a trading system failing (hint: it mostly isn't the system)
Their very personal story unfolds within these pages, step by step and
month by month, demonstrating how their discovery changed them forever.
With full disclosure for the very first time this book shows every
trade, every change, every high and every low of a Forex trading system
called simply 'Grail'
Who Should Buy This Book?
Foreign Exchange traders
Trading system developers
Home based retail traders
Those developing Forex autotrading strategies.
The Problem of HFT - Collected Writings on High Frequency Trading & Stock Market Structure Reform : Haim Bodek
This book explores the problem of high frequency trading (HFT) as well
as the need for US stock market reform. This collection of previously
published and unpublished materials includes the following articles and
1. The Problem of HFT - explains how HFTs came to dominate US equity
markets by exploiting artificial advantages introduced by electronic
exchanges that catered to HFT strategies
2. HFT Scalping Strategies - describes the primary features of modern
HFT strategies currently active in US equities as well as the benefits
these strategies extract from the maker-taker market model and the
regulatory framework of the national market system
3. Why HFTs Have an Advantage - explains the critical importance of
HFT-oriented special order types and exchange order matching engine
practices in the operation of modern HFT strategies
4. HFT - A Systemic Issue - a discussion of the latest industry and
regulatory developments with regard to exchange order matching practices
that serve to advantage HFTs over the public customer
5. Electronic Liquidity Strategy - proposes a conceptual framework for
institutional traders to achieve superior execution performance in
HFT-oriented electronic market venues
6. Reforming the National Market System - proposes a 10-step plan for
strengthening the operation of the US equities marketplace in order to
serve the needs of long-term investors
7. NZZ Interview with Haim Bodek - addresses current topics and proposals for US equities market structure reforms
8. TradeTech Interview with Haim Bodek - addresses the current status of the HFT special order type debate
Haim Bodek is a Managing Principal of Decimus Capital Markets, LLC, a
tactical consulting and strategic advisory firm focused on high
frequency trading and US equities market structure.
was formerly a founder and Chief Executive Officer of Trading Machines
LLC, an independent high frequency options trading firm. Prior to TM,
Mr. Bodek was a Managing Director and Joint Global Head of Electronic
Volatility Trading at UBS Investment Bank. He is an electronic trading
executive and algorithmic trading strategist with 15 years of experience
in the automated trading space.Mr. Bodek's career, experiences,
and advocacy for US stock market regulatory reform are described
extensively in Dark Pools by Scott Patterson, freelance writer and staff
reporter for The Wall Street Journal.
Something Interesting to Read April 2014
newdigital, 2014.04.25 08:45
Quantitative Trading: How to Build Your Own Algorithmic Trading Business (Wiley Trading)
While institutional traders continue to implement quantitative (or
algorithmic) trading, many independent traders have wondered if they can
still challenge powerful industry professionals at their own game? The
answer is "yes," and in Quantitative Trading, Dr. Ernest Chan, a
respected independent trader and consultant, will show you how. Whether
you're an independent "retail" trader looking to start your own
quantitative trading business or an individual who aspires to work as a
quantitative trader at a major financial institution, this practical
guide contains the information you need to succeed.
A Three Dimensional Approach To Forex Trading : Anna Coulling
If you aspire to becoming a full time forex trader, then this is the
book for you. Even if your dream is perhaps more modest, and you simply
want to have a second income trading the forex markets, then again, this
book is for you. It has been written with one clear objective in mind.
To explain how and why currencies move in the way that they do, using
the combined power of relational, technical and fundamental analysis.
Combine this with a three dimensional approach to trading itself, using
multiple time frames and multiple chart analysis, and the world of
foreign exchange will become crystal clear. Many aspiring traders,
simply do not realize that the forex market sits at the heart of the
financial world, which, when you think about it logically, is really
common sense. After all, this is the biggest money market in the world,
and if the financial markets are about one thing, they are about money.
Making it, protecting it, or increasing the return. It’s no surprise
therefore, that the forex market connects all the others. It is the
central axis of the financial world, around which all the others spin.
In the book, you will discover how changes in market sentiment in the
primary markets of commodities, stocks, bonds and equities, are then
reflected in the currency markets. This is something which often
surprises novice traders. After all, why look at a stock index, or the
price of gold, or a bond market? The answer is very simple. It is in
these markets where you will find all the clues and signals, which then
reveal money flow. After all, the financial markets are all about risk.
In other words, higher returns for higher risk, or lower returns for
lower risk. It really is that simple. And yet, how many forex traders
ever consider associated markets. The answer is very few. You will be
one of those enlightened traders who truly understands money flow and
risk, and your confidence as a trader will grow exponentially as a
result. And in case you were wondering, this is NOT another book
explaining forex trading strategies. In fact there are none at all,
surprising given the book's length. If this is what you are looking for,
please DO NOT buy this book. It has been written for two specific
audiences. The first is the novice forex trader, for whom this is a new
market. The second is the forex trader who has attempted to trade in
foreign exchange, but failed, and has been left confused by the apparent
random and chaotic behavior of this volatile market. Reading this book
will provide you with a deep understanding of how and why the markets
move in the way they do. Whilst the forex market is a complex mix, it is
not complicated, once you understand the people, their motives and the
currencies themselves. Each chapter builds on the last in a logical
sequence, and every topic is explained in a simple and clear way. Even
those markets such as bonds, which few traders ever understand, are
explained very simply. Every topic is illustrated with clearly annotated
charts, to help and guide you as you learn. Equally important is the
concept of change. Indeed you may have other books on your bookshelf
written many years ago and explaining how the forex market works. Well,
as you will discover, the rule book has been torn up. No longer is this a
simple market of trending currency pairs. This all changed in the
financial tsunami which engulfed the world in 2007/2008, and with it the
forex world changed too! If this is news to you, then yet another
reason to buy the book. Long gone are the days when currency pairs
meandered their way higher and lower in long term trends, driven by
interest rate differentials. To take advantage, you need to understand
the forces which now drive the markets. A Three Dimensional Approach To
Forex Trading will empower you with knowledge. Knowledge and confidence
go hand in hand. Confidence breeds success, and success breeds money,
which will then flow from reading the book - Anna
Elliott Wave Principle : Key To Market Behavior
Developed by Ralph Nelson Elliott in the 1930s and '40s, the Elliott
Wave Principle is a powerful analytical tool for forecasting stock
market behavior. The basic concept behind the Wave Principle is that
stock market prices rise and fall in discernible patterns and that those
patterns can be linked together into waves.
In the years since it
was first published, this classic guide to the Elliott Wave Principle
has acquired a cult status among technical analysts, worldwide. And with
each new edition, the authors have refined and enhanced the principle,
while retaining all the predictions from past editions.
The 20th Anniversay Edition includes a special foreword and enhanced text. It’s the final revision of a classic.
Wave Principle is simply the best description and validation of a
concept which by all rights should be revolutionizing the scientific
study of history and sociology." –JWG, New York
Principle is such an important, fascinating, even mind-bending work, we
are convinced that is should be read by any and every serious student of
the market, be they fundamentalist or technician, dealing in stocks,
bonds or commodities." –Market Decision$
"Even allowing for minor
stumbles, that 1978 prediction must go down as the most remarkable
stock market prediction of all time." –James W. Cowan, Monitor Money
"Elliott Wave Principle is the greatest work of any kind,
anywhere. It has helped me abandon speculative stock tips and
stockbroker newsletter recommendations for my own predictions based on
the simple wave theory." –J.V.
"I have just received my copy of
Elliott Wave Principle and find it to be unquestionably the best book
and explanation regarding the works of Elliott that I’ve ever seen."
"I have recently read and reread Elliott Wave Principle. I
was impressed with the research and especially thrilled with the
excitement of coming into contact with a truly original concept." –M.F.
Something Interesting to Read December 2013
newdigital, 2013.12.20 09:13
Kathy Lien :
Day Trading and Swing Trading the Currency Market: Technical and Fundamental Strategies to Profit from Market Moves
Discover a variety of technical and fundamental profit-making strategies
for trading the currency market with the Second Edition of Day Trading
and Swing Trading the Currency Market. In this book, Kathy Lien–Director
of Currency Research for one of the most popular Forex providers in the
world–describes everything from time-tested technical and fundamental
strategies you can use to compete with bank traders to a host of more
fundamentally-oriented strategies involving intermarket relationships,
interest rate differentials, option volatility, news events, and central
Trading Chaos: Applying Expert Techniques to Maximize Your Profits
Chaos theory now stands at the cutting edge of financial
decision-making methods. The product of years of scientific
investigation into unpredictable phenomena, it has the potential to
offer traders entirely new perspectives on the movements of markets—and
less risky routes to greater, more consistent profitability. Unlike
other books on the subject, Trading Chaos takes chaos analysis out of
the realm of the abstract and makes complex concepts easy to understand
and use. It offers you the most practical, comprehensive guide available
to applying chaos theory to the real world of trading and investing.
this breakthrough work, author Bill Williams gives you the benefit of
his unique qualifications: 35 years of successful trading and a PhD in
psychology. The instructional techniques used in Trading Chaos have been
tested and refined in the workshops, seminars, and private tutoring
sessions Dr. Williams has conducted in 12 different countries.
for all traders—from beginner to experienced professional—Trading Chaos
introduces you to the financial applications of chaos in five graduated
stages, starting with a clear, nontechnical introduction (Level One:
The Novice Trader) all the way to chart analysis, fractals, Elliott
wave, and advanced nonlinear dynamics (Level Five: The Expert Trader).
Trading Chaos probes depths of human and economic behavior that other books do not even mention, including:
charts, trading models, analysis spreadsheets, and review questions
reinforce the key concepts and help insure full comprehension of the
Regardless of your current degree of expertise, Trading
Chaos will take you to new levels of trading confidence and increased
This practical guide to the powerful tools of chaos theory will help you make better, more profitable trades
Williams brings a unique background and experience to the commodity
trading world. His approach to becoming a successful trader includes
many fresh and fascinating concepts for traders of all experience
levels."—Bruce Babcock Editor, Commodity Traders Consumer Report
Williams has demystified the Elliott Wave. His technical approach is an
innovative and effective way to trade markets for novice and expert
traders alike."—Bob Koppel Skylane Trading Group
"Trading Chaos by
Bill Williams is an excellent guide to profiting from a market which is
nonlinear in structure. The book is divided into logical levels of
trading techniques useful to the novice and expert trader. I was
genuinely surprised that the expert can still learn refreshingly new
techniques at each level presented."—Timothy C. Slater Managing Director
of Dow Jones Telerate Seminars
Trading Chaos takes chaos theory
out of the abstract realm and into the real world of practical
investment decision-making. Using the techniques in this remarkable
book, you will uncover the hidden patterns of what appear to be the
random, unpredictable movements of the commodity, futures, and options
markets. Regardless of your current level of experience, expert
commodity trader and trainer Bill Williams will give you the skills and
insights to move to levels of trading ability you would not have
Clear, practical, and nontechnical—Unlike other
books on chaos theory, Trading Chaos is designed to be easy to
understand and use
Unique organizational format—Introduces the
reader to the financial applications of chaos in five graduated stages,
from Novice to Expert Trader
Expert advice on avoiding common
psychological traps and pitfalls—Including such self-limiting
afflictions as the "paralysis of analysis," "opinionitis," and the
dangers of trading on individual belief systems
A wealth of
supplementary materials—Charts, trading models, trade plans, analysis
spreadsheets, and trading diaries illustrate and reinforce key concepts.
Advanced Trading Rules, Second Edition (Quantitative Finance)
Advanced Trading Rules is the essential guide to state of the art
techniques currently used by the very best financial traders, analysts
and fund managers. The editors have brought together the world's leading
professional and academic experts to explain how to understand, develop
and apply cutting edge trading rules and systems. It is indispensable
reading if you are involved in the derivatives, fixed income, foreign
exchange and equities markets. 'Advanced Trading
Rules' demonstrates how to apply econometrics, computer modelling,
technical and quantitative analysis to generate superior returns,
showing how you can stay ahead of the curve by finding out why certain
methods succeed or fail. Profit from this book by understanding how to use: * stochastic properties of trading strategies* technical indicators * neural networks * genetic algorithms * quantitative techniques * charts Financial
markets professionals will discover a wealth of applicable ideas and
methods to help them to improve their performance and profits. Students
and academics working in this area will also benefit from the rigorous
and theoretically sound analysis of this dynamic and exciting area of
finance. * The essential
guide to state of the art techniques currently used by the very best
financial traders, analysts and fund managers* Provides a complete
overview of cutting edge financial markets trading rules, including new
material on technical analysis and evaluation* Demonstrates how to apply econometrics, computer modeling, technical and quantitative analysis to generate superior returns