I'm interested in these topics: - price action - trading strategies - futures/options - any technical analysis concepts thats not already available for free online Also no "trading psychology" books please. Have read plenty already to get the general idea. Thanks
Actually not my experience at all: I find many both out of date and off-topic, using the kind of search-terms suggested by the OP's question. The way the results tend to be ranked by Google is generally particularly unhelpful to people asking this kind of question (which is part of the reason why a forum's such an appropriate place to ask), because they tend to depend on the SEO that website owners have had done. Beyond Technical Analysis (Tushar S. Chande) Profitability & Systematic Trading (Michael Harris) Understanding Price Action (Bob Volman) Naked Forex: High-Probability Techniques for Trading Without Indicators (Alex Nekritin & Walter Peters - don't be put off by the title: much of the content applies to futures/options as well as to Forex) Daytrading (Joe Ross - I originally read the earlier edition of this same book, which was then called Trading By The Minute - don't buy both, because they're 95% the same!) Trading The Ross Hook (Joe Ross - I come back to this again and again and again. It's "basic" and "fundamental" and "just works" because it's based on totally sound and relaible underlying principles.) A Mathematician Plays The Market (John Allen Paulos) Fooled By Randomness (Nassim Nicholas Taleb) Why People Believe Weird Things (Michael Shermer) - this book and Taleb's, just above, are hugely helpful - albeit indirectly - for "understanding what's going on in forums"! And these next three go together ... these are the books without which I probably wouldn't be making a living at all, but one wouldn't want to read them "cold", without having read some other Price Action texts first: the content is great but they're hard to read if you're new to Price Action (don't say I didn't warn you!): Trading Price Action Trends - Technical Analysis of Price Charts Bar by Bar for the Serious Trader (Al Brooks) Trading Price Action Trading Ranges - Technical Analysis of Price Charts Bar by Bar for the Serious Trader (Al Brooks) Trading Price Action Reversals - Technical Analysis of Price Charts Bar by Bar for the Serious Trader (Al Brooks)
Lol ... What does intermediate means ? What's the prerequisites ? What do we learn as a beginner ? Is there a program somewhere with objectives, formalities and grades ? Do you know why we learn ? To solve problems. You don't read book then find problems. What's your problem ? To succeed as a trader ? Do you think you can learn that from books ? That would mean that 95% of the traders are unable to read an intermediate BS trading crap ? However I agree that some books can be beneficial. But avoid everything directly related with trading* I like the incerto by Taleb that Xela mentioned. *Especially CookBook by Non Cooks. A soldier is made on the battlefield. If you read, it's to find a moment of peace. You must know enough, You better have to tinker. "Program", test and discover by yourself.
go to kickasstorrents. and search daytrading. I found a file with hundreds of books, from beginning T/A to advanced options strategies, and trading psychology...not that I downloaded it or anything. Of course download at own rist with a VPN. Thomas Bulkowski has some great info, may be a little outdated but very useful thepatternsite.com I believe.
Thank you for the very informative post. Is that an actual book? The only results I'm getting are references to cooking..
I take it that what you mean to say by this is to avoid advice about trading from people who don't trade.. is this correct? Well here at ET, we have a wonderful collection of this very same thing. Trying to figure out who is actually practicing their own advice is extremely difficult. Those who seem to talk most about what they are doing are actually not placing any trades. I also have direct knowledge of people who participate in discussions about these macro market moves, making calls you might say about where the market is going over the next few days, and yet their own trading is of a totally different nature. (ie. trading for ticks, yet talking as if they they are capturing major swings). So to give the advice that one should avoid learning from traders who don't actually trade isn't practical advice since figuring this out is extremely challenging. To the OP, when I read the title of this thread, the first thing that came to mind is that once you know enough to look for intermediate level books, its time to stop reading books. Something even as simple as a question about trading breakouts will lead to a countless number of opinions. First you need to define what a breakout is. Then you need to develop a definition of what price is actually breaking out of. Then you need to figure out the difference between a successful breakout and a failed breakout, and of course also when the failure fails. You will find traders who make money trading breakouts, and you will find successful traders who also fade breakouts. My point is, absolutely everything works, and also nothing works enough of the time to make it look easy. If you have enough of a grasp on psychology, which I doubt, then coming up with something you see happen over and over again should be easy. But until you can actually fully appreciate what Handle123 says here about praying for just $25 a day, then I don't think you have a clue. http://www.elitetrader.com/et/index.php?threads/day-trading-roi.298420/#post-4257392 You might have read enough about psychology, but I don't think you've personally experienced any of it. Of those few posters on ET who I believe are quite profitable, 95% of them have shared a story about huge losses they had to endure before they finally started to do things right. I think you can only understand the psychology element of this game when you have lost so much money but are praying just for the smallest win to have a shred of some small victory to hang onto.