Any good books to read lately? Leisure reading is also of interest.

Discussion in 'Educational Resources' started by Howard, Jun 22, 2019.

  1. I would suggest Grokking Algorithms. It`s not even close about trading, it`s more about programming, but it helped me to think effectively
     
    #21     Aug 20, 2019
  2. Howard

    Howard

    Any good books similar to the Market Wizard series that are actually good?

    Those were among my favorites in the past. Never got around to read the latest one. I believe it was focused on stock traders.
     
    #22     Oct 19, 2019
  3. Not a book, but these are the best things I have read on trading lately.

    This is a pro traders story about trading rate futures

    In the pit, at least, you got the edge on the least liquid or deferred contract, and attempted to get the edge in the front, and either leg the spread on the bid, or a tick better. You also had a rather sizable bid to lean on in the spread paper. And in addition, commissions were not an issue. During roll, I would routinely have 2000 calendar spreads on in the 30 year that I would take home overnight. In contrast, my hands would be shaking when I carded up a 50 lot outright in the bonds. That should give you an idea about the difference in volatility between spreads and outrights. Once again, there's a price to pay for the reduction in volatility....

    (the pros use their transaction edge to trade size in the spreads), also

    Bottom line is, I have no less than a dozen spread charts on my workspace, all of which I consider invaluable. They are an inherent component of my methodology, yet I do not consider myself a spread trader. I may initiate spreads when they get out of whack, in a mean reversion strategy, but more often than not, I will leg out of one side of the spread into an outright position. Obviously, spreads are scalable and you can trade size, and there are times when both legs may be profitable when trading a reversion strategy, but in the strictest sense of spread trading, you're trading the spread differential, which is generally less volatile, and one side is going to be outperforming the other. Pragmatically speaking (especially in an electronic venue), you get more bang-for-your- buck trading outrights.

    (a lot of these strategies are used by algorithms and automated trading now, so they are important to know about)

    This is a description of how important program trading and index arbitrage is now
    https://programtrading.com/faq.htm

    This is probably the smartest pro trader I have ever read talk about markets
    http://tradestrongmanagement.blogspot.com/
     
    Last edited: Oct 19, 2019
    #23     Oct 19, 2019
    Howard likes this.
  4. Howard

    Howard

    #24     Oct 19, 2019
  5. This quote is badass. From this guy pitching his read on the PREM

    "...you can front run the PREM instead of just sitting and waiting and watching [price]"

    What he is saying actually works, but it is so hard that retail will never know how to do it. Even the guys on this forum don't know about program trading, the prem, and index arbitrage.
     
    #25     Oct 19, 2019
  6. Howard

    Howard

    Lol. Okay.
     
    #26     Oct 19, 2019
  7. Howard

    Howard

    I ordered a bunch of Schwager’s books, but not sure I’m getting them by tomorrow.

    Did anyone read Flash Boys by Michael Lewis? Worthwhile?

    Or maybe I should rather re-read The Brothers Karamazov...
     
    #27     Oct 25, 2019
  8. nursebee

    nursebee

    0 to 1
    The innovators dilemma by chrstanson
     
    #28     Oct 25, 2019
  9. schizo

    schizo

    Sun Tsu: The Art of War
     
    #29     Oct 25, 2019
    dealmaker likes this.
  10. Overnight

    Overnight

    42 (Well, you did mention leisure reading, heh.)
     
    #30     Oct 25, 2019