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
The Little Book Of Trading : Michael W. Covel
The last decade has left people terrified of even the safest investment
opportunities. This fear is not helping would-be investors who could be
making money if they had a solid plan. The Little Book of Trading
teaches the average person rules and philosophies that winners use to
beat the market, regardless of the financial climate.
The market has always fluctuated, but savvy traders know how to make
money in good times and bad. Drawing on author Michael Covel's own
trading experience, as well as insights from legendary traders, the book
offers sound, practical advice in an easy to understand, readily
digestible way. The Little Book of Trading:
Identifies tools, concepts, psychologies, and philosophies that keep
people protected and making money when the next market bubble or
surprise crisis occurs
Features top traders in each chapter that have beaten the market for
decades, providing readers with their moneymaking knowledge
Shows how traders who beat mutual fund performance make money at different times, not just from stocks alone
Most importantly, The Little Book of Trading explains why mutual funds
should not be the investment vehicle of choice for people looking to
secure retirement, a radical realization highlighting the changed face
of investing today.
Forum on trading, automated trading systems and testing trading strategies
Something Interesting to Read June 2014
Muhammad Syamil Bin Abdullah, 2014.06.04 15:01
High-Frequency Trading: A Practical Guide to Algorithmic Strategies and Trading Systems By Irene Aldridge
Financial markets are undergoing rapid innovation due to the
continuing proliferation of computer power and algorithms. These
developments have created a new investment discipline called
high-frequency trading. Despite the demand for information on this
topic, little has been published to help investors understand and
implement high-frequency trading systems—until now.
industry expert Irene Aldridge, High-Frequency Trading offers the first
applied "how to do it" manual to building high-frequency
systems.Covering sufficient depths of material to thoroughly pinpoint
issues at hand, High-Frequency Trading leaves mathematical complexities
to their original publications, referenced throughout the book.
Page by page, this accessible guide:
Discusses the history and business environment of high-frequency trading systems
Reviews the statistical and econometric foundations of the common types of high-frequency strategies
Examines the details of modeling high-frequency trading strategies
Describes the steps required to build a quality high-frequency trading system
Addresses the issues of running, monitoring, and benchmarking high-frequency trading systems
the way, this reliable resource skillfully high-lights numerous
quantitative trading strategies—from market microstructure and event
arbitrage to deviations arbitrage—and puts the creation and management
of portfolios based on high-frequency strategies in perspective.
trading is a difficult, but profitable, endeavor that can generate
stable profits in various market conditions. But solid footing in both
the theory and practice of this discipline are essential to success.
Whether you're an institutional investor seeking a better understanding
of high-frequency operations or an individual investor looking for a new
way to trade, this book has what you need to make the most of your time
in today's dynamic markets.
Trade Mindfully: Achieve Your Optimum Trading Performance with Mindfulness and Cutting Edge Psychology
Trade Mindfully was written by Gary Dayton in 2014. Gary is a doctor of psychology, a trading psychology mentor, and a trader specializing in Wyckoff method and VSA in S&P futures and equities.
If you are struggling with some common psychological problems
associated with trading — like the fear of loss or predisposition
to oversize your trades — this book will offer definite steps
to overcome them and become a better trader. Although, the author uses
mostly futures and stock markets in examples throughout the book,
the problems he is talking about and the solutions he offers are
pertinent to all kinds of markets, including the spot foreign exchange
The whole book is based on the concept of mindfulness.
It is a way of focusing one’s mind and attention on the present state
of some activity — be it trading, educational process, reading a book,
assessing one’s internal state, and so on. Mindfulness is closely
related to the subject of emotional intelligence (emotion detection and management). You might be familiar with this term if you have practiced meditation or perhaps used mindfulness-based training in sports. The book applies mindfulness to the process of trading to enhance it with a set of the High-Value Actions and High-Value Mental Skills (called so by Gary Dayton).
Mindfulness serves as the basis for dealing with emotions, making high
quality preparations for the trades, focusing on the correct trade
execution actions, and doing a fair
Mindfulness is a skill, which requires not only learning but also
regular practicing. In his book, Dr. Dayton offers several exercises
to train this skill. Most importantly, he shows how it is applied
in trading to improve the whole process and with it the results.
The main idea of Trade Mindfully is that we cannot and should
not fight our emotions or intrusive thoughts when trading. Doing so is
futile and leads to stress and performance deterioration. With
mindfulness we, as traders, can accept our emotions and disturbing
thoughts, see them for what they really are — just feelings
and thoughts — and deal with the trading situation based on our
expertise, with all due attention and focus.
Trade Mindfully is divided into three parts. The first part introduces some important concepts, for example, intuitive mind and deliberative mind.
It also describes various cognitive biases, emotions, and psychological
obstacles traders deal with. It also talks about why we actually need our emotions to trade successfully.
The second part is dedicated to psychological methods that traders
can employ to deal with their emotions, anxiety, and distracting ideas.
This is where mindfulness practice is introduced along with some
exercises a trader can do to enhance his or her emotional capacities.
This part also teaches how to defuse from the unnecessary thoughts
and emotions and how to accept them without engaging in unproductive
The third part presents the Before-During-After methodology for traders. It is based on three phases: High-Quality Preparation, Effective Execution, and Constructive Self-Assessment. Each of those three phases is based on its own set of High-Value Mental Skills and High-Value Actions. For example, the list of high-value mental skills for the preparation phase includes: perspective, personal awareness, self-motivation,
and mental discipline. The list of actions for the same phase consists
of: writing a trading plan, clarifying your role, demo trading,
research, studying market behavior, identifying development needs,
creating development goals, planning for the trading day/week ahead,
and so on.
Trade Mindfully is not just a book for reading and learning
how to deal with your emotions in trading, this book is also a practical
guide to train the necessary skills and to achieve your goals, step
by step. Throughout the book, you will be encountering special exercises
that have to be completed during various phases of your trading
process. Some exercises can be completed in minutes, some will take you
months as they involve long-term assessment of performance and method.
Additionally, you will find some practical exercises to train your
mindfulness, emotion defusion, and acceptance skills. These exercises
are to be done on a regular basis and take about 10–30 minutes per day.
The author’s idea is that once you read the book, you do not stop
at that point thinking that you have become a disciplined, emotionally
stable trader — you continue practicing during your whole career
as a trader. And this book serves well as a self-improvement manual for traders.
Something Interesting to Read December 2014
Sergey Golubev, 2014.12.02 07:24
Trade Your Way to Financial Freedomby
The bestselling holy grail of trading information-now brought completely up to date to give traders an edge in the marketplace
“Sound trading advice and lots of ideas you can use to develop your own trading methodology.”-Jack Schwager, author of Market Wizards and The New Market Wizards
trading masterpiece has been fully updated to address all the concerns
of today's market environment. With substantial new material, this
second edition features Tharp's new 17-step trading model. Trade Your Way to Financial Freedom
also addresses reward to risk multiples, as well as insightful new
interviews with top traders, and features updated examples and charts.
GDP is one economic model among several that could serve the
purpose, but its use conveniently leads to policies that reflect the
thinking of a particular school of economic monetary and fiscal policy
We all know that in operating a business we need to be able to
measure the profits of our company and then adjust our prices and
production to make sure that there are enough profits to adequately fund
the company. That is a relatively straightforward process, since the
amount of money in the bank at the end of the month is a real number.
GDP: A Brief But Affectionate History is a fascinating 140-page
book that I cannot recommend highly enough. This is simply the best
book on GDP that I’ve ever seen. You can read it on a few hours’ plane
ride or a lazy Sunday afternoon. And Ms. Coyle actually makes a
relatively dry subject interesting and at times a page-turner. She has a
Ms. Coyle starts with the predecessors to Adam Smith and takes us
through the 17th century right up until today with the development of
GDP, so we see the ebb and flow of ideas through time. Who knew the
early developers of the model did not want to include defense spending,
as they saw it as a wasteful, nonproductive activity? Or that Adam Smith
thought the inclusion of services in the concept was misleading. “The
provision of more services was a cost to the national economy, in his
view. A servant was a cost to his employer, and did not create
anything. Importantly, money spent on warfare or the interest on
government debt was also being used unproductively. The nation’s wealth
was its stock of physical assets less the national debt. National income
was what derived from the national wealth.”