While working in my garden, over the fence, here is a conversation uttered by the nice neighbours who live over our back fence:
“Well… what do you think they do?”
“It’s either got to be drugs, or they’ve worked out a scam.”
“What… like a welfare scam?”
“Yeah… ‘cos they’re always home or going to the gym, they keep buying nice cars and outdoor furniture, they go on holidays all the time, and they never seem to work.”
“Sounds about right”.
So, now my neighbours think I’m a welfare scammer. Should I tell them the truth, or just continue to let my mystique precede me?
If you want to live the way few live, you must be prepared to do what few do.
One of the things that few people do is read good books. As a trader, you can’t afford to stumble around in the dark, without inspiration, and without direction. You need constant input to achieve your best. Here are my best trading book suggestions of this year. And… as you’ll notice, some of them aren’t even about the markets!. And yes, I know these weren’t all written in 2018. That’s not the point. The point is that you need to read these darlings in 2018 – as soon as you freaking well can… so you can get the results you deserve.
1) The Art of Trading by Chris Tate
This was one of the first trading books I ever read. Yeah, yeah… I am now friends with the big bald bloke who wrote it – but even after all of this time, it is the key resource I refer people to who are serious about the markets
2) Stan Weinstein’s – Secrets of Profiting in Bull and Bear Markets
Stan baby sports an exceptional 70s haircut on the cover of this book, but don’t let that distract you.
His advice about share stages and how to make sure you’re on the right side of a trend is invaluable. Love it, love it, love it
3) How I Made $2 million on the Stock Market by Nicolas Darvas
Darvas was a dancer, and became a brilliant trader back in the days before everyone had computers. His box theory combines so damn well with Stan Weinstein’s share stages, it’s going to take your breath away.
This is a fun, night-time, easy-read, page-turner.
4) Reminiscences of a Stock Operator by Edwin Lefevre
Jess Livermore’s trading life reads like a soap opera version of ‘This is Your Life’ – full of blood, gore, romance, extreme wealth and high living. If you can, find a version with photos, because you’ll think you’ve stepped into a page of ‘The Great Gatsby’ when you see how this bloke lived. A tragic end to his life, and a tragic family life, including a batshit-crazy wife… heck, I’m surprised they haven’t made a movie out of this!
Oh yeah… plus… his trading advice has stood the test of time.
5) Grit by Angela Duckworth
Ok, Ok… you caught me. This isn’t a trading book. It’s about the power of passion and perseverance, and frankly – if you haven’t read this book yet, you’re doing yourself a disservice. It will make you feel like you can achieve anything if you only stick at it for long enough and give it enough dedicated practice.
6) The Slight Edge by Jeff Olson
Yeah – I know this is supposed to be a list of 5 books, but really – I’m aiming to over-deliver! This book is remarkable. It ties in so nicely with ‘Grit’ as well. It will make you realise the power of compounding and why doing a tiny thing on a regular basis is much more important than perhaps you first realise.
Louise Bedford (www.tradinggame.com.au) is a full-time private trader and author of The Secret of Writing Options, The Secret of Candlestick Charting, Charting Secrets and Trading Secrets.
Do you know that Louise also has her own free weekly ‘Talking Trading’ podcast? Visit www.talkingtrading.com.au and revel in this free training to fuel your profits, squash your fears and drive you towards exceptional trading habits.