I quite reading trading books a while ago, but recently a couple have come to my attention. The first I found while browsing on Amazon: Diary of a Professional Commodity Trader: Lessons from 21 Weeks of Real Trading. I like trading books that are conceptual and/or about stories of trader experiences and development, rather than books about a “system” or “setup”. This one seems interesting and I figure if I can benefit from his 21 weeks of trading by spending a few ES ticks then it’s a good deal.
The second book is one I already have: Reading Price Charts Bar by Bar: The Technical Analysis of Price Action for the Serious Trader. I found this one very difficult to read but FlowTraderES has been tweeting some interesting ideas he got from this book such as the 5 tick reversal and today a large breakout bar on 5min chart (9:50 NY time). He got long on that and was using the midpoint of the bar for his stop. It turned out to be a great long trade. I missed that. So I intend to attempt to read the book again and see if I can understand it better. The last time I read it was over a year ago and I still hadn’t been weened off indicators at the time.
For fun, I will be reading Harrington on Online Cash Games; 6-Max No-Limit Hold ’em. I’m intrigued by the similarities in trading & poker and I think learning more about poker will help my trading. I need to fold more often in trading – ie. give up my position when it’s not likely to win.
If you know of another good book, particularly if it’s available in an audiobook, please let me know.