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Old 10-29-2017, 06:12 PM   #1
PokeEm
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Retail Trader For A Living

Hello Traders (Of Any Equities)!

If you are a profitable retail trader for at least a couple of years, which books helped you to become successful retail trader?
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Old 10-30-2017, 02:52 PM   #2
Giltech
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Re: Retail Trader For A Living

Market Wizards was a good start
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Old 10-30-2017, 02:57 PM   #3
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Re: Retail Trader For A Living

https://forumserver.twoplustwo.com/3...s-news-488527/
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Old 10-30-2017, 10:20 PM   #4
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Re: Retail Trader For A Living

Books that give a conceptual framework based on statistics were the most helpful for me. The most helpful were:

Day Trading Short Term Price Patterns by Toby Crabel

Short Term Strategies that Work by Larry Connors

Stock Gap Trading Strategies by Larry Connors

Trade Like a Hedge Fund by James Altucher

I also found Monroe Trout's interview in New Market Wizards very helpful. Linda Rashcke had a worthwhile interview and she has a lot of content online that is worth reading. Other profitable short term traders who wrote readable books are Victor Sperandeo, Jeff Cooper, Mark Minervini and Victor Niederhoffer.

I trade as a retail trader. I am not sure that is optimal. I would imagine working at a reputable prop firm around successful traders would be a much faster way to make trading your profession.
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Old 10-31-2017, 10:01 AM   #5
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Re: Retail Trader For A Living

Trading in the Zone by Mark Douglas is what I deem the most important trading book ever written. His The Disciplined Trader is also very good but Zone is a must read. He focuses on the psychological aspects of trading which probably sinks more wanabees than anything.

I also really liked The Way of the Turtle by Curtis Faith. It's interesting because it takes a group of traders and gives them all the same guidelines and trading rules. Some are wildly successful and some are pure busto. Which takes us back to the writings of Douglas. Plus it has some good insight on trend and momentum trading which is my preferred approach.

For more on trends and momentum I really liked 4 Steps to Trading Success by John Clayburg. He gives some common sense types of approaches towards trend and momentum style trading. My trading style is greatly influenced by both this book and the Way of the Turtle along with a few other things I have picked up along the way.

Actual experience is extremely important though but these books I feel point you in the right direction. Most trading books are pure crap.

Good Luck!
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Old 11-04-2017, 02:24 PM   #6
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Re: Retail Trader For A Living

Quote:
Originally Posted by mrbaseball View Post
Trading in the Zone by Mark Douglas is what I deem the most important trading book ever written.
i'm going to go 100% hot take on this and say that i thought this was the dumbest book ever. i felt like this guy's goal was to fit as many SAT words as possible while rehashing the same points over and over and over.

tommy angelo runs laps around this guy imo.
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Old 11-04-2017, 03:37 PM   #7
mrbaseball
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Re: Retail Trader For A Living

Quote:
Originally Posted by Clayton View Post
i'm going to go 100% hot take on this and say that i thought this was the dumbest book ever. i felt like this guy's goal was to fit as many SAT words as possible while rehashing the same points over and over and over.

tommy angelo runs laps around this guy imo.
To each his own Love anything by Tommy by the way. But Douglas seemed to really tap into a lot of things that really helped me. How to stick with a plan and a trade. I really got a lot out of it.
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Old 11-04-2017, 06:04 PM   #8
glenrice1
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Re: Retail Trader For A Living

Quote:
Originally Posted by Clayton View Post
i'm going to go 100% hot take on this and say that i thought this was the dumbest book ever. i felt like this guy's goal was to fit as many SAT words as possible while rehashing the same points over and over and over.

tommy angelo runs laps around this guy imo.
It is a popular book so I didn't really want to say anything. but I thought both of his books were terrible. I also would include Ari Kiev's books on the list of being very overrated, even though he worked for SAC. Brett Steenbarger is maybe a little more practical given that he trades.

In terms of trading psychology, I have gotten the most benefit from just reading the detailed life stories of successful people who trade. I think Marty Schwartz's book is the best for this.

To me the best way to improve trading psychology is to just get better at trading. I would recommend trading psychology books last (if at all) for someone starting a trading career.

Last edited by glenrice1; 11-04-2017 at 06:17 PM.
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