worst trading books ever

Discussion in 'Educational Resources' started by Daal, Oct 26, 2005.

  1. mpdxc


    Old post, but I have to second this. A big pile of after the fact horse***t. I was foolish to try the newsletter too which lost on most every call week after week. A big waste of time I spent on it.
    #81     Jun 16, 2016
  2. piezoe


    I'd like to second your nomination. Wordy and poorly written as well.
    #82     Jun 24, 2016
  3. Handle123


    I have a watermelon box full of books in storage, am not going to say reading all of them were complete waste of time, as some of their ideas would generate other ideas to test. What I have always found amusing, if the book was written for day trading, often found they were better for longer term trading stocks on like weekly bars and some longer term methods better for day trading, LOL What I came upon often was badly written books where they jumped around and discuss a chart fifteen pages ago. If it was a book on systems, they just have to put in filler pages otherwise God forbid make a book twenty pages with many bad signals and what to do with those than so many good signals. Never seen any books with what to do on being on bad trades, have any of you? I mean really, most authors doesn't seem to even have 50% profitable trades and all they can come up with is taking a loss.

    These are books I tossed into fireplace, can't see selling something to somebody that I don't believe in.:
    Dynamic Trade by Miner
    Tools and Tactics of the Master Day Trader
    The Electronic Day Trader
    First Al Brooks(didn't buy any more of them) poorly written
    Anything by Jake Bernstein, Tony Oz, A Farley, Toni Turner
    And all the mental aspects books-I know many loved Douglas and the others, but they never helped me at all, for longest time use Thorp huge book worthwhile, kept door open it was so heavy but eventually tossed in fire.

    I have stopped buying books, if something sounds interesting, and on audio, I would get that for long ride.

    I would like someone write book on when not to take signals based on left of now, and how to manage trades that not working out. Maybe something I can add to Trading Plan. You would figure most would have ideas and backtest it since so many lose. But.....

    Books that I think highly of reading were written before 1980, before home PCs, where they wrote what they experienced.

    Have a good back testing weekend all.
    #83     Jun 24, 2016
    mpdxc likes this.
  4. 0008


    all books by Jake Bernstein have no value
    #84     Jun 25, 2016
  5. mpdxc


    You never considered tossing those books into a book donation bin or the library? Though I can see just giving someone else or some stranger these books can be harmful. I still have Dynamic Trader in a box, like my biggest trading book ever in terms of wasted physical space, lol. I recall Miner in his ad book on amazon "High Probability Trading Strategies" writing something about 'pro' traders could only get 40% win rate. Odd to see that stick out. I don't like mental aspect books either. They don't even seem to have been written by real traders.
    #85     Jun 25, 2016