Top 10 Trading Books (about)

My list of the top 10 trading books comes from reading a lot of the same material over and over like it was more of a copy and paste for some people than actual writing of useful material. many of these books may have some similar concepts but are at least brought to you in different ways. I put in links to make it easier to find the exact book. You may be able to find it for a better price elsewhere but I buy most of my books through Amazon so that is why I included the Amazon link. What am I reading right now? "Hedge Hogging" by Barton Biggs. Will it make it to the list? Unknown at this time.

Jesse Livermore: World's Greatest Stock Trader, yes I know many will say Reminiscences of a Stock Operator is the real deal and/or the original but this book gives the same information in an easier to read book. Also included is the authors take on the life and family of Mr. Livermore. I would say you should read both but this one should be first.

Market wizards II by Jack Schwager. More up to date than Market wizards. Market Wizards is a collection of interviews of some of the top public (and sometimes not so public) traders in the country. Very inspiring and so many lessons to be learned that it would be impossible to read this book and not get an idea as to what is really working for the best.

The complete TurtleTrader: The Legend, the lessons, the Results by Michael Covel. This books shows how Richard Dennis who made huge sums of money along with William Echhardt started the altimate on the job training program. Dennis and Echhardt took people from all sorts of backgrounds and gave them the training and the rules to show that anyone could make money with trading if they were able to follow through. Whats just as important as the ones that made it is the ones that did not. It shows that you can give people the money, the training, the environment but if they don't have the mental discipline to follow though they will still lose money.

Trader Vic - Methods of a Wall Street Master by Victor Sperandeo. The book gives a story of the trading life of Victor Sperandeo and his exploits at being able to be right so much more than being wrong. Some very valuable ideas on rules that will help you avoid 'value traps' as well as other ways the average guy loses money on Wall St.

New market Timing Techniques: Innovative Studies in Market Rhythm & Price Exhaustion by Tomas DeMark. While Tom DeMark has many books that I have read this is the best of the best. Mr. DeMark talks about the market and technical analysis in way that really no other has done. Much of my own trading style and methods come from Mr. DeMarks concepts. One thing to note is that while many of the indicators are described in great detail, I have not found them to be useful unless altered and adjusted. I have also not been able to get value out of the indicators in time frames of less than daily bars even though the author says they will work in any time value bars. The Black Swan: The Impact of the Highly Improbable by Nassim Taleb. Everything you ever wanted to know about those strange "once in a lifetime" events that seem to happen way more than once in a lifetime but are afraid to ask. The author presents a new way of looking at probabilities and helps change the meaning of 'I've never seen that before' in your mind forever. Mr. Taleb was an options trader and I think this book is especially useful to someone thinking of options as a hedge or as an income source.

Tools and Tactics For The Master Day Trader by Oliver Velez & Greg Capra. Book is a very good read for the new trader or any trader that has not yet 'made it'. Some very good advice and some real world examples of landmines that the trader needs to learn to avoid to be successful. Going beyond just telling them reader how to avoid losing money which this book does very well, tools and tactics gives examples in technical analysis that is useful.

The Art of War by Sun Tzu. Who can forget the line “Every battle is won BEFORE its ever fought in Wall St. That movie by itself sold more of this book than any other one thing in America. Oliver Stone had it right back in 1987 and I have a feeling that this book will still be on top ten lists in 2987 and beyond. If you believe like I do that human nature doesn’t change then this book written thousands of years ago has as much importance now as it did when written. This work is in my opinion a MUST read for anyone in management or decision making. This is not a trading book directly but dismiss this book at your own peril.

Well I said this would be a top 10 list, and I certainly have read and own enough books to provide a top 10 list of trading books but before I add a book to this list I want to reread it. So for now, it's a top list and soon to be top 10 list and probably beyond, if you have any books you would like to suggest you can send me a message.

Otherwise for any new trader, these books are mandatory reading.

Other books related to the financial industry that make for good reading. An American Hedge Fund: How I Made $2 Million as a Stock Operator & Created a Hedge Fund by Timoth Sykes. Mr Sykes takes his Bar Mitzvah gift money and turns it into over a two million dollars. For those that one day seek to be a hedge fund manager and that do not wish to first work for a financial firm this makes for a very interesting read. It also serves as warning that its not as easy as some make it look to become a fund manager. While not the largest financial related book its fill from cover to cover with a good story. Mr Sykes is still trading and appears to still not only be in the game but making money which is something that you can not say about all the 'gurus' that write books.

Hedge Hogging, Good book especially for someone thinking of wanting to manage money

Confessions of a Street Addict by James J. Cramer Good book and it shows that even people like James Cramer paid his dues to get where he is.

Trading In The Zone by Mark Douglas. One of the greatest trading books ever written about trading and the challenges faced by every trader regardless of size or experience. The greatest trading signals and best methods of trading are worthless if the trader is unable to execute flawlessly. Mr. Douglas writes in depth about the mental road blocks that traders have to get through to get the prize of a winning broker statement. Traders put money at risk before reading this book at the own peril.

The New Psycho Cybernetics. So far one of the most important and best books ever written and it is not about trading. Much like Art of War it has applications that will greatly help in trading but also for life in general. I am about half way done and I already love this one (I have since long finished and "re-read" the audio book). This is one like most in that you need to 'buy into it' but at a much higher level to get the most of out it Those with a lot of experience will have no trouble seeing the greatness in this book. Those without experience will need the wisdom of being able to understand how important our thoughts are to our results.

On the list for some point in the future: The Disciplined Trader: Developing Winning Attitudes by Mark Douglas