Trading Books

"futures markets run on a potent mixture of adrenalin fear and smarts...where 10% take home 90% of the winnings..."

Kroll doesn't mention that his role model often quoted, Jesse Livermore went bankrupt 3 times, and killed himself.

And every strategy that I've tried in this book has never worked (for me ). This book is cursed!!!

Entertaining read though.

This is one of the best book on trading. I've read it for three times and I can say that I will read it again.

Kroll talk about how the market discount news, how everyone has his own trading system, and also not forgeting the golden rule of cutting your losses short and letting your profit run.

In short, if you have time for only one book on trading, this will be the one.

This is, in my humble opinion, the best book ever written on futures "investing". Although dated (1987) the lessons in the book ring true in the 21st century. Kroll touches many issues, but the gravamen of the book is from the standpoint of long-term trend following. Kroll appears more of a discretionary trader (as opposed to systems traders such as John Henry, Ed Seykota, and others covered in books such as Covel's Trend Following) and although I cannot say that it will make you rich overnight, this book will help you lose less on the road to futures mastery. Sadly, this book is out-of-print, but luckily there are many copies available on the secondary market. I even own two copies--it's that good!

After several false starts, I started studying options seriously a few months ago and burned through a lot of books I had seen recommended in various place. Some were fairly good, some not, but I feel they all pale in comparison to this book. Charles brings clarity to this often obfuscated field, and for the fisrt time I feel I have 'grokked' options.

Parts of the book are not an easy read and have to be worked at before things click, but when they do you know you have really learned something new. Other parts of the book are fascinating stories of what can go wrong (very very wrong) when trading options. It's hard to imagine many authors spilling the beans on some of their really bad trades as honestly as Charles has. He also recounts some really brilliant trades he has made. The key is that the disasters were not in accord with 'the hidden reality' of options, whereas the victories were taking advantage of it.

This books differs from other books in that it presents not only the profit stories but also the stories about how certain positions lost money and why. The 3D risk graphs in color are great and after looking at them for a few minutes a flash bulb goes in your head making your understanding of options better. Detailed examples of advanced strategies like gamma scalping helps an intermediate retail trader to pickup and start using these strategies. If you are serious about options trading this book is a must have.

First I need to point out that i know the author and worked with him on the floor of the Chicago Board of Trade during the late 1980's. Charles was a superb trader but is an even better teacher. Options can be daunting because of all the associated terminology. This book will give the motivated reader numerous tools for understanding and choosing strategies for using options to control risks and achieve trading objectives. I know of no book that better serves a user of options as opposed to those whose interest is theoretical or academic.

Quality Money Management is an impressive reference book, very well laid out and pleasing to read. The book presents an innovative methodology that combines quality best practices with Investment Management. The chapter describing the components of the methodology alone is worth having the book on my desk. The book has an innovation technique of using a 'Money Document' deliverable to formalize a business case for presenting to seed capital investors to fund a new investment strategy. The stages and the numerous techniques in the Quality Money Management Methodology provides a clear systematic roadmap for a complex initiative of developing, testing and managing the portfolio of a new trading system. This book is a key tool in my knowledge base that takes my deliverables to a new level of quality and fluidity.

This book is a valuable checklist for managers responsible for the development of financial (software) systems. Development teams will profit by studying this book before starting a new project.
Although formal process quality improvement has been around for several years, the contribution of these authors is unique in the way they have combined the best of the many techniques available and explained where and when their use is appropriate in the development of a financial application.
The reader should be aware that despite its encyclopedic and cookbook appearance, this book is only a starting point for the practitioner. As the authors point out: Every project will need its own customized set of processes. Their K|V methodology provides the framework.
The second thing to be aware of is that a book that covers the entire methodology can not possibly cover the details on all techniques. It is especially important to keep this in mind in the quality improvement area where technique seem trivial. In my own experience I have seen teams dismiss techniques such as the "Five whys" and fish-bone diagrams, because their facilitators were insufficiently aware of the subtleties of these methods. Both of these techniques are described in the book in sufficient manner so that the prospective user will understand their usefulness. The next step will be to learn the details in specialized books. Similar comments could be made in regards to code inspections and reviews.
There are many more techniques in this book with whom I do not have personal experience, so I am extrapolating when assuming that the level of treatment would be the same. If it were not, than we could complain about unequal treatment. If it is, then we still have an excellent book that not only raises awareness but also gives very direct and specific guidelines.
An advantage of the chosen level is that the book can touch upon many more techniques without being too voluminous.
And maybe most importantly, it keeps it readable for higher management which is important when using the book to get their support.
Teams starting a new project should read this together, then decide how to proceed. Teams finding themselves drowning might very well find some ideas to work themselves out of their problems.

I have read all of Van Vliet's books on this subject and even taken a class he taught. I think he really has a handle on the future of financial technology.

This step-by-step guide can help start a successful and profitable health care business. Chapters include Polishing Your Professional Image, Techniques to Gain the Competitive Edge, Writing a Business, Financial and Marketing Plan, Maintaining Good Client Relations, Management and Leadership Skills and How to Expand Your Business. It also covers marketing strategies, fees, billing and collection, negotiation skills, client contracts and more. Each chapter contains tables, questionnaires and a list of references.

Fitness Management March 1999

Sharpening Your Image: How to Start, Keep and Expand a Health Care Business is a guide to combining expertise and training in health care with knowledge about trends, marketing, and business. The book covers topics such as starting a business, setting fees, developing billing procedures, creating a business plan, and polishing a professional image.

Journal of the American Dietetic Association May 1999 vol. 99 [5]

Any physician assistant launching a business and those with new ventures will want to devour Lisa Mosing's primer on business skills for healthcare providers. A much-needed practical guide, Sharpening Your Image: How to Start, Keep and Expand a Health Care Business offers sound and straightforward information on all aspects of entrepreneurial endeavors.

The author contends that medical professionals, historically, have stressed service at the expense of other aspects of healthcare business. She argues that the time is right for businesses that emphasize marketing, management, and communications, but many healthcare professionals lack the appropriate skills. However, as she notes in her Introduction" Healthcare professionals who embrace the expected trends, are flexible, market to their prospective clients and position their business or services accordingly can be the most successful in the coming decades."

Although Mosing, is a registered dietitian, she offers a crash course in entrepreneurship that will serve the needs of any healthcare professional testing the business waters. She takes readers under her wing, letting them learn from her experience and helping them avoid the costly and time-consuming trial and error approach to attaining marketing and communication expertise and growing a business. She offers a concise introduction to all the essential skills and strategies that you'll need to get your enterprise up and running smoothly, including evaluating your own abilities, selecting advisors, setting fees, developing a marketing plan, and expanding your business.

Mosing's book - a prescription for start- up success will worth the investment for any healthcare professional who wants to develop a lucrative and professionally regarding business. It offers critical information that an entrepreneurial clinician can't afford to be without.

Kate Jackson

PA TODAY/ NOVEMBER 1999

Prof. Hank Pruden has done it again! His depth of Wyckoff's knowledge associated with his keen sense of behavioural science illustrated through the Pruden Model, has made this highly acclaimed book one of the nowadays indispensable elements of the investor's and trader's arsenal. This book not only describes the psychological aspects of trading but also the "nuts-and-bolts" of Wyckoff's trading method. Highly recommended for the trader at any level he/she would be, on his way to conquer the learning curve difficulties.

[...]

Hank Pruden's masterful book "The Three Skills of Top Trading" is a must-read for serious students of the art and science of trading. It would well serve the newcomer to the world of trading as well as an experienced trader. Whereas many trading gurus say "you must use stop-losses", Mr. Pruden gives you a three-legged system that creates the knowledge governing the use of a "stop". In other words, this book contains the "WHY" as well as the "WHAT" that will help users manage their trading effectively, at the buy and the sell ends of the trade.
Thank you Mr. Pruden, for providing me with a foundational book that has already helped me.

This is a gem of a book and well worth reading. It does an excellent job of describing Richard Wychoff's system, which is an incredibly powerful technique in the analysis of price movements, such as accumulation/distribution, supply/demand, and the topping/bottoming processes. Pruden also describes and charts specific events to look for as a stock moves from a base into it's rise, or from a top into it's fall. It's easy to look at charts now and match the patterns with Hank's checklists or the priceless figures in the book to know where in the price movement progression one is likely to be.

The book also talks at length about how to get one's mind right in order to be successful in the market. I'm convinced that many systems can work when executed by disciplined investors, while the same systems will fail when executed by the undisciplined investors. This is a great bonus in this book beyond the powerful Wychoff trading system.

I really like the simple nature of the point and figure chart to follow price movements, because it works. No need to overly complicate the system, like the Tom O'Brien's of the world try and do just to sell you on a $2500 trading class. In fact, I remember when Hank was interviewed by Tom on his radio show during the fall of 2007, and Hank was bullish (due to his simple point and figure chart) and Tom was bearish (due to his overly complicated "Timing the Trade" mumbo jumbo). Well, the next 5 to 10% move in the market was UP, which Hank had correctly predicted based on the classic point and figure methodology.

This book is in my top 3 investment books for 2007. Well done, Hank!

I'm a practicing daytrader in MN, and felt that this material can help teach anyone daytrading. It teaches the market basics, strategies for investing, analysis techniques, trader discipline and using Level II. The video format is much easier to learn and understand then other books I've read on the subject. I found the strategies in the live trading segment to be especially helpful in understanding how to trade for profit. I actually learned things from this video that were not taught in a $5000 full week class. I feel that this video is a great tool for beginning and intermediate students who want real experience using a Level II system.

EXCELLENT CONCEPTS, VERY GOOD FOR THE BEGINNER AS WELL AS THE ADVANCED TRADER.

If you plan on daytrading and are serious about it, this series is an absolute must to have. David Thoroughman's live trading session on tape 2 is extremely insightful, and the visual clarity of the tape is outstanding. Many other firms charge $5000 or more for far less information than is available in this package. Watching these tapes over and over again (especially tape 2) will give you the confidence to enter and exit trades with an excellent understanding of what to expect and how to minimize your losses if your stock heads in the wrong direction. Get it and use it!

I have a bookshelf full of trading books and this one is one that will be used over and over again. The key to making money in the stock market is using a money management system that will protect you against big loses. The wins come along every once in a while , but when your wrong, (which for me is a lot) a system that can keep your losses small so you can stay in the game is critical. This book gives you straight forward, easy to understand advice on how to determine how much you should be risking based on your experience level and how to keep track of your successes and set backs. I provides you with examples of tracking forms and the how-tos for all of the advice. The book is simple, yet very detailed and to the point. Great Book!! I highly recommend it to experienced and novice traders alike. Thanks Bennett!!

This one's a brand new book to add to your collection of Ralph Vince and Nauzer Balsara. Difference, though, is that this book really simpllifies the essentials and makes it easy for even the beginner to understand the sometimes complex money management formulas that truly are essential to trading success. I've got the other books too -- but this is the one that helped me effectively and profitably implement the formulas to calculate what percent of risk to take on each of my trades so that I'm not risking too much (which has exposed me to risk of ruin in the past) and then again -- McDowell's formulas help me not risk too little so that I'm not maximizing my return. The formulas are all based on your performance statistics at any given moment (which will be different during drawdown VS a winning streak) and they are basic algebra -- so you don't need to be a mathematical expert to use them. The other really valuable tool that has helped me is the record keeping forms that come with the book. Now I'm caputuring the data I need on each transaction and my analysis gives me the answers I need.

Just got my book delivered from Amazon a couple of days ago -- two weeks early! Was at the LA Trader's EXPO last week and everyone was trying to buy this book but it wasn't out yet -- so I'm glad it's here early.

The book covers McDowell's philosophy on Money Management which encuorages you to always set a stop BEFORE you enter a trade. By doing that you can then determine your risk amount on each trade by adjusting your trade size to ensure no more than -- say -- 2% loss on any one trade - based on your entry and your initial stop.

Then based on your current payoff ratio and win ratio you can go to the risk-of-ruin tables and customize what your risk truly should be. Based on your current performance maybe you should be risking less than 2% or maybe more. Thing is you want to refer to the risk-of-ruin tables to find out what percent risk gives you a ZERO "probable" (not guranteed) chance of ruin. This subtle adjustment can make a difference on improving your payoff ratio. And there is a sample of a risk-of-ruin table in the book so you can see how it works.

The other tool in the book that I like is the record keeping forms that help track and calculate payoff ratio and win ratio. Anyway, this is a great money management book with lots of formulas and tools to help design your own system.

The above quote is from one of Ralph Ellison's letters to Albert Murray and it summarizes both of these two men's positions on both art, as well as their outlook on African-American advancement in this country. I found this book to be extremely inspring, partly because these two men are/were very brilliant, partly as black history, partly as literary criticism, and very much for the fact it changed my conception of these two men. While these two cats are seen in the public imagination as some sort of conservatives in American culture, their letters show them to be two men very involved in black vernacular expression and very understanding and apprecieative of regular, as Sly Stone said, "Everyday People", and also, as people who show great disdain for bourgeise pretensions.

One of the striking things for me about this book is the fact that both of these men are older than my father, who was born in the thirties. It totally explodes my misconceptions about black people before 1954 (Brown vs Board). While messrs. Murray and Ellison talk about many issues pertaining to blacks and that include prejudice, they are in no way limited by racism, and it only periphirally comes up during their letters. Their focus is on how black expression is deeply ingrained in the American sensibility. And this is prior to the advent of Elvis Presley and Rock & Roll (for the most part). Jazz and Blues of course are the primary conduits of this. But the two also discuss Willimam Faulkner and Ernest Hemingway and Mark Twain in terms of how the motif of the black American influences their work. They're fans of great writers like Andre Malraux, Dostoyevsky, and James Joyce, and in their work they see parallels in their work to the black struggle and want to in their work describe the black experience with the same type of literary mastery.

Also very heartwarming is these two mens concern for each other and each others families. It's big fun to follow their adventures through Europe and the United States and the insights they get from them. Not to mention their love of cameras and photography.

What impressed me the most about this book though, besides the literary/cultural concerns which resound throughout all of these writers work, is the down home, city slicker, hipster black language and viewpoints of Albert Murray and Ralph Ellison. In their own way, they remind me of the "keep it real" hip hop generation and the "no sellout" soul/black power generation. In one example, Ellison tells Murray that Murray is the type of cat who would, "eat chitlins at the waldorf (astoria)", and that he'd do it not just to "slum" or "keep it real", but becuase he thought they were as good a food as any other. These two cats exemplify that old black, old American goal of not fogetting where you come from. As black intellectuals, they also have their times when they're very disdainful of black bourgeise institutions.

As an example in one instance of discussing response to Ellisons "Invisible Man", Murray refers to "...also saw Jet (magazine)'s expected stupidity. This reminds me of a line Chuck D said in Ice Cube's "Endangered Species", "When we die, then we'll make Jet." In several instances Murray and Ellison talk about things that prefigure the attitudes of hip hop. And I know this is ironic becuase Stanley Crouch, a disciple of these two men, is one of the most vocal black critics of hip hop in the world today. Examples of this are definetly these two men using the "b" word at certain points, Ellison actually takes being called a "hell of a n...." as a compliment, and Murray uses the "n-word"to denounce his former employees at Tuskeegee. Of course these men are not gratuitous with this type of language, but they take poetic liscence with them (as the greatest of tasteful M.C's like Chuck D, B.I.G, Tupac, Nas, Daddy Kane etc.) do. They totally explode the silliness of some of the cultural gatekeepers in the black community that these words should never be uttered. As artists they don't look at words morally, they use them were they fit. However they do use them with taste, and being middle aged men and educated men, they don't hafe to use them for every other word. But some of the language in this book is proof to me that the hip hop generation by no means came up with this lingo on their own, we got if from our pops, and uncles, and men in the community. However, we could also get a good lesson in taste, and how to take our "chitlins to the waldorf" from these two cats.

If you love black history, get this book. If you want to see the genesis of the modern African-American mentality and how it relates to the old, get this book. If you want fresh literary perspectives, get this book. If you want an example of black intellectuals who didn't forget where they came from, get this book. If you want inspiration for your own art, run and get this book, becuase in the words of Albert Murray:

"Maybe I really broke the bed down, and then maybe I ain't done nothing but hit it a lick and promise. Maybe I ain't no certified cocksman yet, but that g-ddamn chick is pregnant due: you examine her. Maybe i'tll be a nine-pounder and maybe we'll hafe to put it in an oxygen tank, and maybe it'll be a f*c***g miscarriage; you examine it....

I could not put this down. It is a funny, warm, and insightful jam session on the subjects of literature, jazz, and American culture. This is a must have for any student of those subjects. It's also gives fascinating background into the lives and intellectual development of these literary giants.

This is an excellent book. Fans of Ellison and Murray will appreciate the intimate look at the lives of these writers that can be gained from reading the letters published in this work. Moreover, the call and response nature of the letters beautifully mimic that which can be heard in some of the classic jazz and gospel songs of America. You'll have a hard time putting this one down...

This is a wonderful book! It really helped me a lot! I learned how to stop worrying about the big and little things in my life and how to trust God for them. The author shares many areas that women tend to worry about. She shares her own personal experiences with worry and fear and heart wrenching stories from her own life and how she conquered worry and fear and learned to turn everything over to God and trust Him more. I have purchased many copies of this book and have given them to all of my friends! It's a must have for your personal library!

My sister-in-law gave this book to me when I was going through my divorce three years ago. This book, like no other, has brought me closer to God than anything else I have read. I was worried and scared, but Cheri has brought the Scriptures to life for me - they speak to all of us! - and helped me through a difficult time, and continues to do so. I have purchased copies for my friends who are going through rough times, or even just those who are discouraged at life in general. "For I know the plans I have for you, says the Lord... plans to give you hope and a future. You will seek Me and find Me when you seek Me with all your heart." Jeremiah 29:11, 13 If that isn't comforting, I don't know what is. Praise God!!!

This book does what it says it will. Gives you good examples and practical ways to put them into effect. Helps you to give your worry to God and turn it into wonder.

Its good. Once you get over his British writing style, its a good read. I'm only 1/2 way through, but I have found it very accessible so far. Not only does he talk about the UML diagraming, he talks about the Unified Process (in like 250 pages! - now thats a refreshing break). The book delivers what it promises. Its not a reference guide, but it is definitly *teaching* me some practical stuff.

This is a rare find. It is a useful combination of many related software engineering topics, with enough O-O history to provide some perspective, and enough detail on the Unified Process & the Unified Modeling Language to provide both an understanding and a practical series of steps for project success.

If your department tries to balance doing things right with doing things quickly, if you're wondering why the UML has become the de facto notation, if you're using Java and want your group to do more object-oriented approaches, if you're thinking you'd like to use Java, or you'd like to use the UML for your design notations, if you've heard object-oriented engineering can provide some benefit.. then you'll probably find this book to move to the top of your 'must read and must share' list.

If you're moving your architecture towards distributed objects and Enterprise JavaBeans, there's some useful advice on designing Java-specific objects.

It is clearly written and easy to follow, and can be read chapter by chapter or as a reference text. I would have only one suggestion for the author. He briefly mentions the similarity between O-O and the Spiral Model or the UP and the Spiral Model. Mr. Hunt would have done well to include an overview of the Spiral Model in his work. [Search the Software Engineering Institute at Carnegie Mellon for more info. Our design team considers the Spiral Model an important and practical and even useful approach to software engineering projects. Combine the Spiral Model methodology for projects, the Unified Process approach to designs, and the Unified Modeling Language for design notations, and you've got what we consider to be a winning approach to object-oriented software development.

Mr. Hunt provides a valuable book on the UP and the UML with a real world perspective. We're going to buy copies of his book for our entire team.

Easily approachable and good. The book talks not just about RUP, but also about its roots (OMT, Fusion, objectory etc), and about UML. It also guides the reader through the maze of workflows in the RUP and gives advice on how to configure RUP as a lightweight process for web development. This book is a great contrast to all the other RUP books that are too theoretical to be of any use except for those who already are using RUP.