Thursday, November 18, 2010

Trading Tools - The Library

Every trader has a library of trading books they have went through and I am no different. Here is the ones out of library that I would recommend

The Intelligent Investor by Ben Graham
Ben Graham is the father of value investing and mentor to Warren Buffet.  The Intelligent Investor is a must have in everyones' library.  The book is old and a bit dry but packed with excellent information. 

Security Analysis by Ben Graham
Another great book by Ben Graham going into more detail on value investing.

Chart Your Way To Profits by Tim Knight
This book was my introduction into the world of technical analysis.  This is a great beginners book for the basics of technical analysis and a charting platform.  This book isn't full of every technical pattern known but it deals with the main patterns and psychology of those patterns.  It is also a great introduction to the Prophet charting program.

Options As A Strategic Investment by Lawrence McMillan
This is by far my favorite options book.  Lawrence McMillan does an excellent job of listing all the types of options and option plays.  He goes into great detail on every option possibility without showing a bias to any one play.

Options Playbook by Brian Overby
I actually won this book in a trading contest and it turned out to be a good desktop book.  This book has very basic information but it is full of all the necessary information.  When starting with options I took my notes from Options As A Strategic Investment and wrote them on the plays of the Options Playbook.  This gave me a good quick reference for options.

Trading In The Zone by Mark Douglas
The hardest part about trading is getting your mind in the right frame.  This is a good book for helping you trade by helping you with your thought process.

Freakonomics by Steven Levitt
This isn't a trading book but a good book for a quick break.  This book is an easy read but gives you a chance to view things in a different way.   Definitely an interesting book to check out.

Trading Natural Gas by Fletcher Strum
Natural gas trading is nothing like the equities market, so if you are interested in oil and gas trading this is a good book to start with.  This is an advance book because it is an advanced subject.  However, this is one of the best books on the subject.

Japenese Candlestick Charting Techniques by Steve Nilson
Learning candlestick patterns is just another aspect of technical analysis and should be learned if you want to go that route.  Steve Nilson is credited for bringing candlesticks to America.

1 comment:

  1. I am buying trading books to have more idea on stocks and the trading itself. Nothing to lose!
    Trading Books