| Curtis Faith is the well known author of the book: Way of the Turtles. Most trading self-help books are incredibly drab. They are generally written by moderately successful and unsuccessful traders or by self-promoting pseudo psychologists. This book does not fit into that mould. Curtis Faith is one of the most successful Turtles of his generation. (more…) |
| The Money Machine – How the City Works is one of the few financial books I have read that strikes the right balance between in-depth explanations and easy to read concepts, even for people with limited financial knowledge. Very few numbers and formulas are included in this book and most concepts are explained with historical examples in an easy to understand format. (more…) |
Following on from Mind over Markets, this book delves deeper into the auction process and its graphical representation in the form of market profile. This representation is a technical analysis tool used by many market participants across all time frames which organises and structures the market using three key parameters; time, volume and price. (more…)
In this book the author Brett N. Steenbarger explores in detail some of the trappings of the human mind. The idea that psychology plays a pivotal part in being a successful trader isn’t a novel one. This principle is littered all over the pages of almost every trading literature out in the marketplace.
What sets this book apart however is the level of detail the author goes into to explain the actual thought processes that occur when negative impulses are triggered and the provision of a plethora of techniques to interrupt the emergence of such impulses.
The central idea proposed is simple: behaviour is patterned. The author submits that negative patterned behaviour can be interrupted and there are specific effective techniques that can be utilised to achieve this. The author also encourages the reader to form an “Internal Observer” for the purposes of continuous self-monitoring. The idea here is to be constantly aware of one’s emotional state. As these concepts are discussed in detail the reader is also encouraged to embark on a journey of self-discovery and analysis in order to explore the best trading style suited to his psychological predisposition.
Personally I found this book to be very educational in fostering the understanding of the human psyche. The techniques proposed have certainly helped my trading by leaps and bounds. For example, I have come to understand that often a person’s negative patterned behaviour can manifest itself physically, which is why I am more acutely aware of my posture when trading because it helps me observe my emotional state.
In short this book is very easy to read with a narrative that is delivered through a series of some interesting anecdotes. Although slightly lengthy in certain sections, it is also packed with ideas, advice and techniques to help the aspiring trader achieve a higher level of performance. A must read.
Futex Academy give this book a STRONG BUY recommendation
Way of the Turtle
The Turtle experiment which forms the subject of this enlightening book began as a bet between trading gurus Richard Dennis and William Eckhardt over 20 years ago. Dennis’s hypothesis, in contrast to his colleague’s, was that he could transform almost anyone into a winning trader. (more…)
“Realize that you are playing the coldest, bitterest game in the world…Almost anything is fair in stock trading. The whole idea is to outsmart the other fellow.”
For anyone searching for a holy grail in trading, this book is definitely not for you. However, anyone looking to understand market dynamics and the drivers of supply and demand within a market, I would recommend that you read this book immediately. (more…)
The 5th Edition of Stephen Valdez’s book covering the world’s financial markets manages to achieve something which, having read a large sample of financial textbooks, is rare; there is a fine balance between a book that is lightweight and one that is inaccessible to the novice trader, which the author negotiates in this case successfully. (more…)
This book is about the ability of the human mind to make split second decisions. Our brain has a great ability to extract the most important information out of the overwhelming amount of noise we are surrounded with and make very accurate decision, even while under pressure. This phenomenon, sometimes called gut feeling, can give us an edge, but can also lead to biased decisions. (more…)
This book is primarily the account of an Italian American, Lewis Borsellino, whose determination enabled him to become one of the biggest traders in the S&P 500 futures pit. The main focus of the author is explaining what made him stand out from other less successful traders drawing primarily on his early family life and the characteristics that were etched into him by these experiences. (more…)
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