Reminiscences of a Stock Operator: With New Commentary and Insights on the Life and Times of Jesse Livermore (Annotated Edition) Review

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(More customer reviews)I read Reminiscences of a Stock Operator around ten years ago. I was trying to understand trading dynamics in the market, and the book was mentioned frequently.
It is a classic. But can a classic be made better? In this case yes. Jon Markman, an able financial writer, has written notes around the narrative, with pictures and graphs that illustrate many things that would be obscure to the reader of the book. Markman brings forgotten people to life, and motivates the events that transpired.
It was an exciting era, one where the common law of contracts played a greater role, and statutory law played a lesser role. It wasn't no-holds-barred, but it was close.
We are experiencing our own era of leverage that is too high, and what happens when it breaks. The protagonist of the book, Jesse Livermore, aims for best advantage, and learns as he goes along, going broke several times in the process, and dying broke as well. Leverage cuts two ways. Live by leverage; die by leverage.
Paul Tudor Jones II writes an appendix to the volume, as well as a foreword. Being a trading billionaire who started from scratch and went broke a few times, he is an excellent man to get into the mind of Livermore on a modern basis.
Who would benefit from this book: Historians would benefit, as would those interested in trading. Economists wanting to get a look at market microstructure would also benefit. Livermore, more than most, gives a full view of technical analysis, because he lays bare the motivations of players, and how other players attempt to devine those motivations.

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If It Doesn't Go Up, Don't Buy It, 3rd Edition Review

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(More customer reviews)Aside from the humor in the book this is perhaps the most interesting investment plan I have ever seen. It is aimed at the basic investor, not someone who has spent years studying the stock market. The simple straightforward language is easy to understand. By trading no-load, no-fee mutual funds following this method it is possible to grow your money. It also discusses when and how to move your money to safe havens when mutual funds are not a good choice.
There are also chapters on options, commodities, and gold, but they are short and the subjects are presented more for background information than anything. You could not trade those successfully from the information in the book. But if you have money in IRA's and 401K/403B's then this will show you how to maximize your investment

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An easy-to-understand way to buy and sell no-load mutual funds. How to find funds that go up and when to sell funds that go down. Never lose money in the stock market. Very few buys and sells per year and only requiring about one hour per month of your time. Works for regular IRAs as well as 401Ks.

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Cross-Cultural Trade in World History (Studies in Comparative World History) Review

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(More customer reviews)I first encountered this book as part of my grandmother's current reading shortly after its publication. I next saw it as part of the required reading for an upper division undergraduate history course. I mention these to note that this book will interest the casual reader of history or the serious student. While it is scholarly, it's subject takes the reader on such a world tour that it practically qualifies as a travelogue. Curtin's accessible presentation makes this is an exciting as well as an informative read.
Curtin describes how the urge to exchange the goods uniquely available to specific areas has encouraged cultures to meet and exchange ideas as well as goods throughout the centuries. His examples of these exchanges, ranging from Greek city states and West African kingdoms, to Portuguese explorers in the interior of Brazil and Indonesian merchants so accustomed to sailing in search of commerce that they have no home on land, demonstrate the effects on individuals and societies of these meetings, and the accomodations neccesary between merchants to negotiate their differences and get the goods they desire. Along the way we see familiar historical characters in a new light, as with Curtin's discussion of the British trade with Russia and a reexamination of British-Indian trade from the Indian perspective, or his consideration of Spanish competition with the Dutch for South East Asian trade. Players one might not have considered emerge as major powers, as with Armenian trade, from their participation in the Silk Road between Ancient Rome and China, to their invaluable role as cross cultural ambassadors for most of Eurasia up to the nineteenth century. Curtin closes with a consideration of the birth of the modern global industrial economy.
This is a valuable book for any serious student of history and an interseting read for the lay reader as well.

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The Very Latest E-Mini Trading, 2nd Edition: Using Market Anticipation to Trade Electronic Futures Review

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(More customer reviews)This is the second edition of the book, that seems to incorporate complementary ideas to the first edition.
I really liked it, since it gives very detailed explanation of how anticipating where the market may react in your favor and positioning there before price hits that price, can give you an edge of entering with a small risk, that is part of a good capital preservation defensive plan of trading. I bought the book since I use that kind of trading and also I was able to view inside the book and noticed that it uses very few technical indicators, which are late in giving you signals and expose you to bigger loses than if you anticipate price turns with very tight stop loss.
By the way, in order to enjoy the book, you can go to his website and there you will find all the charts of the book, something that I discovered early when I read the last pages and noticed that.
The author uses a couple of indicators that he sells for a very low price in his website also, but they work only for Tradestation. One of the indicators is based on price, to give you an idea of overbought and oversold conditions. The other is related to the use of market internals and how he interprets that information to determine if the market is trending or ranging. In my opinion, if you have access to market internals, it is not necessary to use this indicator, once you understand the concept of what he does, but as an Engineer that he is, he has devised a clever way to let the chart tell you what condition the market is, without major doubt.
The author has made a big effort to explain with great detail his price patterns and setups, but it will take some time to digest all the information contained in the book, that for me is the book I would have liked to have available in my early years of looking for the Holy Grail, since I started as most.. using technical indicators to evolve now to use none and base my trading in anticipating levels of reaction and watching how the market behaves there.
It is a good book, once you clean your charts and start looking for what he teaches, you will start finding low risk points of entry in your charts, with the potential of catching some runners.



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The 2nd Edition of a popular E-mini futures trading text incorporating the latest tools and techniques: Market Profile Theory; Market Internals; Price Level Determination; Technical Indicators; and Time-of-Day Patterns. In-depth and specific descriptions of how to trade the electronic futures markets using the idea of Market Anticipation. A thorough chapter on trade management, including expected value calculations of scale-in/out strategies.Over 150 charts and graphs. A special background section covering stocks, stock options, futures and futures options, all leading to trading the fascinating E-mini futures contract.The 2nd Edition adds over 100 pages of new material: Price patterns; statistical indicators; new order entry types; additional Market Profile trades; and more trade examples and charts.All-in-all, an inexpensive, efficient and expert introduction to the fascinating enterprise of E-mini trading.1ST EDITION REVIEWS:"An excellent primer for the beginning trader and good insights for more experienced traders.""The contents have too much good information for a "once read" by mere mortals. It serves best as a future reference for aspiring daytraders who are up against many of the brightest minds on the planet. About 90% of my investment books are in the attic. This one will remain close by.""Trading books and trading software is frequently sold at top dollar figures. This was not. It gives the impression of a desire to impart what works rather than to dazzle with too much information and detail. He has combined in easy to grasp format a few key factors that seems to distill much research and trial and error.""This inexpensive book has many nuggets of wisdom. There are many approaches to day-trading the mini futures, and this book touches on several, including opening range breakouts, trend days vs non-trending days, time-of-day patterns, pivot point trades, MACD divergence trades, and inter-market divergence trades."

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Building Winning Trading Systems with TradeStation (Book & CD-ROM) Review

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(More customer reviews)For new system developers using TradeStation:
First, read the Tradestation Manuals. From the main menu, choose Help -> TradeStation Books. Read "Getting Started with TradeSation EasyLanguage" then move on to "EasyLanguage Reference Guide."
Next, bring up a TradeStation chart and add some random strategy. Click View -> Strategy Performance Report. In the Performance Summary and Trade Analysis tabs, click on each statistic's name type and read the description. It is pretty informative.
Then read chapter 5 of this book if you need more info on the stats.
Chapter 6 is the real meat of this book and the reason you should add it to your library. Unfortunately it is riddled with typographical errors. It's a shame. If the authors would have just copied and pasted the code from a verified strategy, they would have caught most of the problems.
Chapter 7 and 8 also have some valuable information.
Again, if you can find this book used, go ahead and buy it. There are a couple strategy coding, debugging and printing, and EL tweaks for research that you will find interesting.
Also, look into
"Professional Stock Trading: System Design and Automation" (more good ideas and examples of TS coding)
"Design, Testing, and Optimization of Trading Systems" by Robert Pardo (oldie but goodie on system design, but no TS).
"The Encyclopedia of Trading Strategies" by Jeffrey Katz (there is good chapter on basic statistics originally published in 1997 Technical Analysis of Stocks and Commodities)

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Investing with Volume Analysis: Identify, Follow, and Profit from Trends Review

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(More customer reviews)Recognized with the Dow Award for his 2006 paper on volume, Buff is already a recognized expert on the subject. In that paper, he introduced the Volume Confirmation Price Indicator (VCPI). With this book, he furthers not only his reputation as probably the foremost expert on the subject but he also demonstrates that he is a talented story teller as he makes the history of technical analysis come alive for readers.
If we are perfectly honest, at least in my opinion, too many technical analysis books devote their first few chapters to the basics of technical analysis with a few comments on its historical perspective. I usually barely skim these sections because I've already read the story several dozen times and wonder why it needs to be repeated. Buff tells it differently, starting in the beginning with examples from Biblical times and moving forward through time to draw on Wyckoff and Schabacker rather than simply the standard facts about Edwards and Magee. He offers a story from Ralph Acampora about how John Magee faced an SEC inquiry where he was forced to defend the principles of technical analysis. While there are few true historians in the field, Buff joins their ranks with his very readable Part 1.
Behavioral finance theories factor into the explanations of why volume leads price. Technical analysts can appreciate that fact, but many only care about whether or not an idea makes money in the long run. A number of money-making tools are introduced in the book, including volume-weighted moving averages, volume-weighted MACD, and the Trend Thrust Indicator. Practical applications of these are developed, with the underlying logic and strategy explained. Traditional volume indicators are also included, making this a comprehensive review of volume analysis and is the only source needed to gain expertise on the topic. Not surprisingly, the book expands on the VPCI.
Test results are shown for many of the indicators, and the testing is very well designed. That is also different than what is commonly seen in technical analysis books where testing is often overlooked and many times the promised results can't be obtained. Buff shows what has happened, and does so in a way that inspires confidence that the indicators will work in the future.


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Analyzing volume can help you look deep inside trends, identify shifts more rapidly, and earn higher profits with less risk. Now, award-winning stock analyst Buff Pelz Dormeier explains how to make volume analysis work for you. Analyze volume responsiveness, reliability, risk, and returns–and use your insights to optimize your returns.

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The Encyclopedia Of Technical Market Indicators, Second Edition Review

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(More customer reviews)Add 2 stars if you don't care that the formulas are in Metastock shorthand, NOT in straightforward mathematical terms. I'm a programmer, looking for a book with the straight formulas for technical indicators. Here's what it says on the book, as quoted by amazon: "Simple, intuitive, easy-to-understand, and precisely defined formulas". Sounds great, so I buy it. NOWHERE does it mention that these formulas are in Metastock shorthand, which is NOT decipherable without Metastock, so I returned it. The book is very good at explaining the use of these indicators, but I'm very disappointed in the misleading marketing of the publishers and amazon.

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Today's most all-inclusive reference of technical indicators­­--what they are and how to use them to add value to any trading program

Technical analysis has become an incredibly popular investors' tool for gauging market strength and forecasting short-term direction for both markets and individual stocks. But as markets have changed dramatically, so too have technical indicators and elements. The Encyclopedia of Technical Market Indicators provides an alphabetical and up-to-date listing of hundreds of today's most important indicators. It defines what each indicator is, explains the philosophy behind the indicator, and­­ of the greatest importance­­ provides easy-to-understand guidelines for using it in day-to-day trading.

Broad in both scope and appeal, this one-of-a-kind reference painstakingly updates information from the previous edition plus defines and discusses nearly 100 new indicators.

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