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This isn't trading per say book but very important for anyone who is interested in financial markets to read, I say that so people can get better understanding of how and from where this financial market is driven. This was what I read in 2017 as my Uni had it in their library, but its good light hearted fun
Money and Power: How Goldman Sachs Came to Rule the World
By William D. Cohan
I'm appreciative of this thread. This is obviously a very good list of books recommended over time, by many, covering a list of different topics that seems to apply to various trading styles.
I'm curious: what books specifically would be recommended for an active, intraday, non-algo, directional trader in the us bonds futures? Aside from steidlmayer/dalton on market profile and japanese candlesticks, and pivot boss (which is an excellent book) are there any other sources that people regularly use?
Some of the books recommended so far are algo based, some are mechanical, some are options based, some are general purpose (understanding wall st, etc); yet none of these are good for an active, intraday, discretionary futures trader aside from market profile books. So...I'm looking for recommendations on new ways to look at the market.
Also - has someone compiled a list of all the books mentioned here?
The latest book that I recommend is: Building Winning Algorithmic Trading Systems, by Kevin Davey
I just finished reading it this morning and did not want to pass judgement until I finished. This book is honest, well written and edited, and relatable. There is no hubris, no fluff, and no BS.
Although the primary audience is those who want to learn to build or get better at building algorithmic systems, I wanted to see if there was anything in the book that is useful for discretionary traders. Here are two items for discretionary traders:
Chapter 25 is pure gold, providing archetypes of different types of people you may come across in the trading world, how to identify them, and hopefully avoid them.
Kevin offers a path for discretionary traders to algorithmic trading, if that is a
For those of us who are algorithmic traders, this book has a ton of value. It is sobering, but realistic. The methodology is solid. There is ton of information to absorb and there is not a lot of fluff. You may be surprised by the amount of tracking and analysis that is required, so if you are lazy about doing the grunt work, you might get discouraged.
If you are a discretionary trader, I would borrow it to read. If you are an algorithmic trader or an aspiring one, this should be in your library.
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
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I like you @vmodus read this book just to see if there was anything in there I could learn that would make me better in my own trading which was not algorithmic in the way that Kevin (aka @kevinkdog) trades. I was also very impressed with the book for similar reasons. This was actually the beginning of a friendship and over the last several years I have actually had the pleasure of meeting Kevin several times. He's as nice, genuine (,and humble) in real life as anybody you could hope to meet.