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  • Best And Worst Trading And Investing Books 0 comments
    Jun 12, 2009 7:26 AM

    I have bought and read dozens of trading and investment books through out the years. Some are very good and some are nothing but pure garbage. I have many people asking me in my website about which were the best trading books, so I have decided to post about the ones I think are a must have, and should be read and re-read.

    Its a long list and I will rank them from 1 (pure garbage) to 10 (a book to read and re-read):

    Reminiscences of A Stock Operator, by Edwin Lefevre: 10, the best book ever written about speculation;

    Market Wizards, by Jack Schwager, 10, a short cut to trading mastery; fantastic interviews wuth the best traders of the 80`s and early 90`s; a must have to read once a year; Ed Seykota`s and Richard Dennis`s interviews are probably the best; Gary Bielfeldt interview is my favourite because it underlines a very important message: we only need one well timed and well sized trade to get wildly rich;

    The New Markets Wizards, by Jack Schwager, 9, a good book but not so good as the original; still a must have in every trader`s bookshelf; Linda Raschke interview is probably my favourite;

    How I Made 2,000,000 In The Stock Market, by Nicolas Darvas, 8, very good reading for a book that was written over 30 years ago; its an investment biography from a Wall Street outsider;

    Fooled By Randomness, Nassim Taleb, 8, a brilliant book from a brilliant mind; 

    Trade Your Way To Financial Freedom, by Van Tharp, 8, a good trading book about trading systems and the psychology of trading; very good;

    Investment Biker, by Jim Rogers8, a good travel book, a good investment book and a good economics book written by a legendary investor;

    Adventure Capitalist, by Jim Rogers7, one of Jim`s best books; similar to the Investment Biker but this time Jim goes around the world in a Mercedes SLK;

    Dave Landry On Swing Trading, by Dave Landry, 7, an interesting book for swing traders and technical players; lots of setups and real world examples; from trader to trader; besides Dave Landry helped me a lot when I was starting my trading career 10 years ago, answering all email questions; he has even offered me a signed book; 

    How To trade In Stocks, Jesse Livermore, 7, not as good as Reminiscences, but a must have book for seasoned and aspiring traders; 

    Hot Commodities, by Jim Rogers7, the best book on commodities;

    Pit Bull, by Marty Schwartz, 7, a good book about a sucessful S&P Futures daytrader;

    Way Of A Turtle, by Faith, 7, the true story of Richard Dennis`s turtles experiment; very good for systematic traders; 

    Stock For The Long Run, by Jeremy Siegel, 7, a good book written by an economics PhD. Lots of historical perspective on the performance of stocks, bonds and commodities

    Schwager on Futures - Technical Analysis, by Jack Schwager, 6, probably the best Technical Analysis book I have ever read; but I am not a technical trader;

    Inside The House Of Money, by Drobny, 6, an interesting set of interviews with some top traders; 

    How To Make Money In Stocks, William O`Neill, 6, very good for stock pickers;

    Wall Street - The Other Las Vegas, Nicolas Darvas, 5, very similar to his earlier book; nothing really new;

    Trader Vic, by Victor Spearandeo, 5, good trading biography; not as good as the ones I mentioned above;

    Technical Analysis Explained, by Martin Pring, 5, while it is not a top book on technical analysis has some very good chapters on trading cycles and sazonalities; 

    Stock Market Wizards, by Jack Schwager, 5, not so good as the first two; Mark Cook interview is very good and probably is worth the cover price by itself;

    Alchemy Of Finance, George Soros, 4, I have not finished this book; I do not like Soros`s writing style; pretty dense and boring;

    Bill Gross On Investing, Bill Gross, 4, I would expect a much better book from a legendary fund manager; some interesting topics on bonds but not as good as it could be;

    Against the Gods - The Remarkable Story of Risk, by Bernstein, 4, well written but pretty boring; 

    A Random Walk Down Wall Street, Burton Malkiel, 3, the anti-trader book; if you are a trader you will hate this book;

    Trading In The Zone, by Ari Kiev, 3, I think Ari Kiev is very overated; I would not wate my time again reading Kiev`s book;

    Financial Freedom Through Electronic Day Trading, by Van Tharp, 3, while Tharp`s first book is a very good one, I am not very impressed with this second work; 

    Trading Markets - Guide For Conquering The Markets, 2, a compilation of some texts from Dave Landry, Larry Connors, Mark Boucher and many others;

    The Psychology Of Risk, Ari Kiev, 2, as I said before I do not like Kiev`s books;

    A Bull In China, by Jim Rogers, 2, one big flop; I am not even sure that this book has been written by Jim Rogers; Sorry Jim;

    Mastering Trading Stress, Ari Kiev, 1, no comments, pure garbage;

    The Education Of a Speculator, Victor Niederhoffer, 1, I think nobody can finish this book; dense and confusing; 

    So this is the full list of the best and the worst trading books I came across over the years. Very few really stand out.

    I am running a real time trading experience in the Oil Trader`s Blog similar to what George Soros wrote in his book "The Alchemy Of Finance" but with the benefits of modern time internet interaction. I invite you to come by and post your trades online.   

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