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TYMORA'S REVIEWS AND RECOMMENDATIONS
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| "Aerodynamic
Trading" by Constance Brown New Classics Library -- This publication is one of my favorite books. Basic rules for success do not, in fact, vary much from profession to profession. Constance Brown has clearly defined and proved this in her book. Her previous career was that of a professional athlete training for the Olympic games. She describes the importance of psychological balance in trading, and more amazingly, she offers clear and distinctive ways of overcoming these issues. Besides providing some frightening stories of what can happen when a trader lets his ego get to him, or how Murphy's Law can truly act up at any time, she also provides a fantastic log account of an entire day trading the S&Ps. For anyone who is interested in trading, or any career for that matter, this book is an ABSOLUTE MUST! She has also recently published an article in Stocks & Commodities Magazine (June 1997). She also has a website at www.aeroinvest.com, which is the site for her new trading firm. You can find other interesting trading information on this site, as well as other articles she has written. |
| "Connors
on Advanced Trading Strategies" by Laurence A. Connors M. Gordon Publishing Group, 800-518-8488 or 310-317-0840 -- This can be considered a follow-up to the "Street Smarts" book, which Mr. Connors co-authored with Linda Bradford Raschke. It covers many trading issues in-depth, such as volatility, and provides actual statistical reports to show the raw profitability of some of the valuable concepts and strategies described within the book. Many of the strategies described can be used for either stocks or futures, and are very precisely described and explained. Like "Street Smarts", this book is also highly recommended. |
| "Hit
and Run Trading" by Jeff Cooper M. Gordon Publishing Group, 800-518-8488 or 310-317-0840 -- This is definitely another one of my favorite trading books ever published. It claims to be "The Short-Term Stock Traders' Bible", but many of the concepts presented can also be related to futures trading. You will gain many important insights from this book, which will be invaluable to your trading. You will also be presented with logical and valid patterns which, when applied properly, can yield quite substantial profits. In fact, you can base an entire trading career on mastering only a few of these patterns along with their subtle characteristics. You will also learn the importance of taking small risks for the opportunity to gain a large reward. You will also learn the importance of not only going with the trend, but waiting for the trend to resume before jumping aboard. Although this book is a bit more expensive than some others, it is definitely a valuable asset to anyone considering trading. |
| "Hit
and Run Trading II" by Jeff Cooper M. Gordon Publishing Group, 800-518-8488 or 310-317-0840 -- This book serves as an excellent follow-up to Jeff Cooper's first book, "Hit and Run Trading", It serves to address questions readers may have had in the first book, as well as provides a multitude of new concepts, ideas, and trading patterns. Again, like the first book, this one comes highly recommended. |
| "Street
Smarts: High Probability Short Term Trading Strategies" by
Linda Bradford Raschke and Laurence A. Connors M. Gordon Publishing Group -- Again, there are many sources claiming infinite knowledge and wisdom on how to successfully trade the financial markets, yet few that I have come across offer such a wealth of knowledge, ideas, and successful and logical patterns on how to become a successful trader, as this book. The book offer a wealth of patterns that may be directly applied to a stock or futures chart, offering low risk, high reward opportunities to profit in the markets. The patterns, like all true and valid patterns, can be applied on a chart in any time-frame, from a tick chart, to a daily chart. In addition, the book provides a wealth of other wisdom on your journey to becoming a successful and profitable trader. "Street Smarts", which presents "High Probability Short Term Trading Strategies", is directed towards futures trading, but can also be used to trade stocks without a problem. In fact, many of the patterns depict examples on stock charts. Reading this book will put you years ahead of most traders, and I cannot think of many other books (besides those mentioned herein) that provide this much useful guidance and methodology that can last you through a lifetime of trading. The true power in this book can also be attributed to the fact that each pattern can be considered its own easy-to-understand methodology. Each pattern can be individually developed and enhanced as you grow as a trader. And all the patterns are completely logical -- they simply make sense. By watching the patterns develop on charts, you begin to discover the subtle nuances of each pattern. And you see them work! With this book, you receive the ability to become a trader -- not the ability to hope a system performs as promised or specified. Although this book is one of the highest priced books listed herein, the price is negligible versus the information being provided, especially in light of what some vendors charge for much less (and usually invalid, or black-box) trading knowledge and advice. For anyone who wants to become a trader, or for any trader who wants to expand his or her trading knowledge, while experiencing a wealth of new trading ideas, both of these books are must-reads offering just about the best risk-reward ratio as any trade I have ever seen! Note that Linda Raschke was also a Market Wizard, featured in one of Jack Schwager's books. She also has a website, where she has recently published several other excellent articles, with charts and all, specifically directed to those interested in trading S&P Futures. Go to "www.mrci.com/lbr" for more information. |
| "Sun
Tzu's Art of War for Traders and Investors" by Dean Lundell McGraw-Hill -- This book is not a methodology so much as it is a philosophy. Dean Lundell gets right to the point -- and has written a fantastic investment book based on the time tested wisdom of Sun Tzu's Art of War. Lundell applies Sun Tzu's battle tactics to trading the financial markets, which is certainly a battle in its own right. Each page offers an excerpt from Art of War, followed by Lundell's comparisons to investing. Dean Lundell's 20 plus years in the securities business and his experience as a Vietnam veteran give him a unique perspective on applying military principles to the financial markets. This excellent work should be a vital piece of any trader's collection. Dean Lundell has also recently published a very interesting article based on these concepts in the February 1998 issue of Futures Magazine (Page 40-42). Dean Lundell also has a website at "www.artofwar.com". |
| "Techniques
of Tape Reading" by Vadym Graifer and Chris Schumacher McGraw Hill -- This is an excellent book that attempts to describe Tape Reading from a Chart Analysis Perspective and provides some excellent discussion and examples on identifying and trading Panic type (Capitulation and Euphoric). It also goes into a good degree of detail as to how to identify smart money buying and selling versus how novice traders and the public do their buying and selling. This is an excellent book and highly recommended, however for those who are looking for more details on how to analyze Market Maker and Specialist moves and action on a Trade by Trade Level this book will not provide that. This book provides more of an overview (which is still very valuable) for those who wish to incorporate basic tape reading principles into their trading based on some relatively simple chart pattern analysis. Yourika Tymora would be a prime choice for those interested in trading these types of patterns and provides a huge additional edge in determining the ends of move as detectable by the actual market participants. |
| "The
Market Maker's Edge" by Josh Lukeman McGraw Hill -- Provides interesting and valuable insights into trading from the perspective of a Market Maker. Covers strategies on how to control risk, scaling into positions, and tactics he uses to determine when to enter a position and how agressively. Yourika Tymora would also be a prime choice for identifying and implementing these strategies. |
| "The
Trader's Tax Survival Guide -- Revised Edition" by Ted
Tesser Wiley -- A revised and expanded edition of the first and only tax guide written exclusively for traders and investors. Drawing on actual court cases, the book provides complete details on everything from getting around the 2% itemized deduction limit and preparing for an audit to planning for retirement and transferring wealth to future generations. In addition, there's information on Total Return Investment Planning (TRIP), a major component of Ted Tesser's popular seminars on how to create and manage a successful trading business. Other features: a concise listing of allowable expense deductions, detailed guidelines on how to quality for trader status (you don't have to be a professional market maker working the exchange floor to claim "trader" status), information on the effects of the Tax Reform Acts of the past decade, including the recent tax code changes and more |
| "Trading,
Sex, and Dying" by Joel E. Anderson MarketPlace Books -- Poker & Blackjack are very similar to Trading, insofar as you must be able to assess not only the risks of your anticipated position, but the probabilities of success through an analysis of the strengths and weaknesses of your opponents. This book goes a long way to bridge that gap and provide you with unique insights that apply for "Professional Gamblers" as much as they do for traders. Poker, Blackjack, or Trading are only "Gambling" if risk is not properly assessed versus potential probability of reward on a moment-by-moment basis. |
| "Way
of the Warrior Trader" by Dr. Richard McCall This is another excellent book on trading psychology, which focuses on a plan described as the "A.C.T.I.O.N." plan, which stands for: * Accept...all possible losses before entering the battle! * Center...yourself in mind, body and spirit! * Trust...your inner-skills and warrior-intuition! * Imagine...victory clearly in your mind's-eye! * Only...exist in the present moment to conquer fear! * Never...ever stop, once you have begun! It's definitely worth checking out this book. |
| "Zen
in the Markets" by Edward Allen Toppel Warner Books -- This is another excellent book accentuating the importance of being one with yourself before you can truly be one with the markets (or with anything else for that matter)! It provides many valuable insights into what it takes to be a trader, directly from the mind of an actual floor trader. Edward Allen Toppel also has an Internet website at "www.SamuraiTrader.com". |
