Tuesday, October 16, 2007

What Resources Have Helped Your Trading?

Once again, I'm going to tap the collective wisdom of the readership to see if we can generate a very useful post for developing traders. (By the way, I also want to express my appreciation for the feedback regarding trader strengths. I will be back from my road trip with traders tomorrow and will synthesize that feedback into a post for self-assessment).

This time I'll ask readers to offer their comments to this post by recommending the trading books, websites, and other resources that have been most helpful to your development. Please send in your ideas as comments to this post (not as emails to me), so that everyone can benefit from your insights.

My own list of trading resources can be found on my Trader Development page and also as a resource list at the end of my book on trader performance. You may have also noticed that there are certain blogs and sites that I particularly like, generally because these unique and useful views of markets and market themes. Some of these include:

* Abnormal Returns
* Bloomberg
* Financial Times
* The Big Picture
* The Kirk Report
* Trader Mike
* WSJ MarketBeat

But what do *you* find helpful? Books, sites, blogs: you name it. In my response to reader suggestions, I'll add a few of my own, including some favorite books. My hope is that, by sharing resources, we can help each other get to that proverbial next level of performance.

Thanks!

Brett

26 comments:

tzink said...

Some of mine:

- The Kirk Report
- Daily Speculations
- Investors Business Daily
- Traderfeed
- Mad Money (not for trading tips, but for market analysis)

Gary said...

That's an easy one! Been on this 'becoming a trader voyage' for seven years now and by far have received the most help, insight and strength from Brett Steenbarger and TraderFeed. Could never thank you enough, Brett.

hrgreen said...

Brett
I have found the stock videos posted by Richard at http://www.movethemarkets.com are very helpful. I have been able to absorb some of his quick scalp style and it has improved my bottom line... for some of us, trading is a solitary endeavor so seeing someone live (almost) trade is very useful.

H R GREEN

Jeff said...

There are a list of blogs I read everyday, including:

-TheKirkReport.com
-SlopeOfHope.com (Tim Knight)
-BillCara.com
-TraderFeed.Blogspot.com (of course!)
-LBRGroup.com (they have Daily Educational Charts that I like to compare with my own analysis since I learned to trade with them many years ago)
-TraderMike.net


Book that I have read, reread, and reread again are:

-Trading In The Zone
-Reminiscences of a Stock Operator
-Market Wizards
-The New Market Wizards
-Methods of a Wall Street Master
-Principles of Professional Specualtion

Hope that helps someone.

Jeff

Toon said...

www.insider-monitor.com is a good one. You watch insiders trade their own stocks.
Regards.

Anatrader said...

Brett

I would like to share my favourite visits to the following websites:

1.TraderFeed
http://www.traderfeed.blogspot.com/

2. WILKI
http://tradingsuccess.com/stc/

As for Sentiment:
I read Sentimentrader for its insightful articles. However, they cover US markets generally. So WhisperNumbers complements with its coverage on world markets and instruments.

As for Time:
GannGlobal has a large database and seeks to compare in terms of Price and Time, the conditions of today's market with previous historical replications.

As for Books, for constant references as my Bible:

1.Enhancing Trader Performance - Brett Steenbarger (Wiley)

2. The Nature of Trends - Ray Barros (Wiley 2007 at Amazon)

For Money Management:
Trading Systems & Money Manangement by Thomas Stridman.

Colin said...

Esignal coding forums are a huge wealth of information on how to design different indicators and test ideas you may have. I think every trader should keep a daily watch of their respective platforms forums, if not to understand the type of power they can get from their software.

Trader Musings said...

Brett,

1. Traderfeed insights helps me to continue to find innovative ways to improve my trading techniques,

2. "Technical Analysis and Stock Market Profits" by Richard W. Schabacker, is a good primer in the art of chart reading.

3. "The Disciplined Trader: Developint Winning Attitudes" by Mark Douglas, especially the last few chapters ("The Psychology of Price Movement" and "The Steps to Success").

4. "How I Made $2,000,000 in the Stock Market" by Nicolas Darvas. In this book, it is not the trading method that is important, but the steps Darvas took to develop his method over a period of six years.

5. "Trading Techniques" by Linda Raschke. It is the manual that you receive when you go to her seminar. I refer to it often.

Charles

Anatrader said...

Brett

Wish to add that for Volume, I like MarketVolume which has normalized volume that overcomes distortions on quarterly rolls of futures contracts.

bryan said...

Subscription Websites
- Sentiment Trader
- Guru Focus

Blogs
- Trader Feed, Trader Performance, Steenbarger Weblog
- CXO Advisory
- A Dash of Insight
- Stock Pickr
- Accrued interest

Books
- Aronson, David. (2007) "Evidence Based Technical Analysis: Applying the Scientific Method and Statistical Inference to Trading Signals". : Hoboken: John Wiley & Sons.

Connors, Larry. and Sen, Conor. (2004) "How Markets Really Work: A Qunatitative guide to Stock Market Behaviour". Trading Markets Publishing Group.

- Cunningham, Lawerence A. (2002) "The Essays of Warren Buffett: Lessons for Investors and Managers". Singapore: John Wiley and Sons.

- Graham, Benjamin. (1949) "The Intelligent Investor". New York: Collins.

- Steenbarger, Brett N. (2007) "Enhancing Trader Performance: Proven Strategies from the Cutting Edge of Trader Psychology"., Hoboken: John Wiley & Sons.

Bryan Wendon

Roger Enright said...

Dr.:

SeekingAlpha.com contains some of the most interesting and relevant analysis I have been able to find.

Brandon Wilhite said...

I would echo some of the resources I've already seen mentioned, and add:

websites:
investopedia.com
tradingmarkets.com

books:
Way Of The Turtle, Faith
Options As A Strategic Investment, McMillan
The New Money Management, Vince

free magazines:
currencytradermag.com
optionstradermag.com
futuresmag.com

There are a lot of other good books, these are just the ones I've actually turned to the most, other than some already mentioned.

BW

Michael said...

Books I have learned from:
Practical Speculation (Niederhoffer)
Inside the House of Money (Drobny)
My Own Story (Baruch)
Against the Gods (Bernstein)
When Genius Failed (Lowenstein)
/Michael Hurup

Jeff said...

resources that have *actually helped* my trading:
traderfeed
readers’ comments to traderfeed
www.balancetrader.com
www.wattstrading.com
blog.afraidtotrade.com
highprobability.blogspot.com
marketvolume.com
stockcharts.com
------ -----
Books:
The Psychology of Trading
Enhancing Trader Performance
Candlestick charting explained (Gregory Morris)

Ofir Amitai said...

I would recommend reading the following books:

- Trend Following
- Market Wizards
- The New Market Wizards
- Principles of Macroeconomics
- The Secret

I think reading any of these books over and over again will help develop psychological resilience.

I think most of the readers of this blog have developed some sort of trading methodology. And yet, as Brett stated, the test comes when it seems like you lost your edge or the market goes against you. When this happens to me, I feel it's time to boost my determination and turn to this kind of blogs.
I would also recommend watching the movie: "The Secret". This movie has helped me to develop a positive way of thinking.

Ofir
TradeByTrend

Jeff said...

a book I forgot to mention (maybe because it's sitting on my desk next to the keyboard, not on the shelf): Mind over Market

Lugo said...

Hi.

My Top 5 blogs/sites for daily reading during Market hours:

Bloomberg
BillCara.com
The Big Picture
The Kirk Report
Yahoo! Finance - Market Overview

Daily reading after the bell:

TraderFeed
Trader Mike
Trend Analysis LLC
VIX and More
Bespoke Investment Group


During weekends don't EVER miss Bill Cara's Week in Review post. Priceless!

For Trading books, look for the ones from the following authors:
Alexander Elder (the best for beginners)
Brett Steenbarger (trading psycology)
Steve Nison (Candlesticks and Tech Analysis)
Van K. Tharp and Mark Douglas for trading strategies.

Many Thanks all for the comments and sharing knowledge.

T. said...

I don't want to repeat what others already said. One blog I recently found that has interesting charts is HeadlineCharts.blog.com.

Also, I like to start the day with glancing over international indexes:
http://money.cnn.com/data/world_markets/

BJB said...

http://www.kanetrading.com/a_comm/a_comm.html
weekly commentary going back to 2003
http://www.medianline.com/
http://carlfutia.blogspot.com/
http://www.tradingclinic.com
http://www.jpjtrading.com/
realtime MP trading/teaching

profste said...

hi brett,

i made a 40 books list on amazon for the very reason to share my resources.

every book cited on the list include a short comment.

as for the websites i'd like to add the all in one instabull

Brett Steenbarger, Ph.D. said...

Thanks so much to all for the fantastic array of resources. This will be helpful to many developing traders, and I hope it offers some new directions for even the experienced traders.

There are several books I have used in training new traders, including Dalton's "Mind Over Markets" and Grant's "Trading Risk". "Market Wizards" and Drobny's "In the House of Money" are excellent inside looks at how traders think. I also like Murphy's book on intermarket trading, and Niederhoffer's books are very stimulating--a fine illustration of creative thought that goes into trading.

Brett

Trader Musings said...

For those interested in economic data published by the Federal Reserve, their publications can be found on their St. Louis Federal Reserve web site:

http://www.stlouisfed.org/default.cfm

Click on "Publications" and then on the left hand side of the page, click on "Index".

Some of the more interesting charts can be found in "Internation Economic Trends", "Monetary Trends" and "National Economic Trends".

Charles

- said...

Discovery of www.portfolio123.com has been a significant advantage for me. I am not a shill for the company, but I have come to love (and depend upon) the site.

It allows me to easily turn my trading concepts (such as those I read about at TraderFeed) into rules that I may backtest in a very flexible way, and then to rule-based portfolios based on the rule-sets that worked for me.

It is not designed explicitly for technical traiding, but it is easily adaptable to examine just about every concept.

Aside from rationally based stock recommendations, one of the greatest benefits of rule-based/quantitative trading is that emotion/regret/fear/bravado are largely eliminated from the process. (Not ALL fear, of course.)

The operators of the site have an excellent track record, are very responsive, and may be contacted directly via e-mal or the well-patrolled forums that are also available on the site.

--Marc in VA

(my screen name at portfolio123.com is dipaolom. You will see from my forum postings that I am a long-time customer with nothing to gain personally from telling you about it)

- said...

I should have also mentioned the free newsletters available at http://www.investorsinsight.com/

They are John Maulden's "Thoughts from the Frontline" and "Outside the Box"

I love them for the clear descriptions of complicated things and the big picture (but useful) overviews of the econmy.

spirokoulouris said...

All 3 Market Wizards books, Reminiscenses of a Stock Operator (worth rereading over and over), Way of the Turtle, Trend Following,Emotional Intelligence

ThePennyStockMaster said...

I found this site with nice picks
http://www.ddotcstock.com

also look up microcapmarkets.com

if you are into penny stocks