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Eri G.
Palo Alto, CA
Post #: 1
Every month, starting in February, we will read and discuss a group-chosen book on trading. Let's come up with a list of suggested reading now, then vote on which books we'll read in the upcoming months.

What do you recommend?
A former member
Post #: 1
I am currently reading "Entries and Exits" by A. Elder.

On deck is "Enhancing Trader Performance" by B. N. Steenbarger
Ben G.
San Francisco, CA
Post #: 3
Here are my reading suggestions, in order of decreasing difficulty:

Basic stochastic calculus:
An Introduction to the Mathematics of Financial Derivatives, Neftci

Survey of market in-efficiencies:
Inefficient Markets, Shleifer

For options structures and trading:
Option Volatility & Pricing, Natenberg

Not so much a book on trading, but an excellent foundation for derivatives valuation:
Options, Futures, and Other Derivatives by Hull

Accounting and fundamental analysis:
Financial Statements, Higson

Psychology and mental modeling:
Market Wizards, Schwager

Market models and paradigms:
An Engine, Not a Camera, MacKenzie

Business cycle and history:
The Great Crash 1929, Galbraith

Personal finance:
The Millionaire Next Door, Stanley & Danko
Sonoma, CA
Post #: 1
Arguably a gentler and better written replacement to Hull and Neftci:­ "Concepts and Practice of Mathematical Finance" by Mark Joshi

Who is who in the markets:­ "Trading and Exchanges" by Larry Harris
A former member
Post #: 3
While this is an excellent idea, I don't know how practical it is. It might take several months to get through each book of the month, not to mention that most of these books cost $70+.

I would be interested in doing an article of the month. There are many excellent scholarly articles online for free that cover interesting topics and would be prime for discussion. If the articles are too math/theory heavy, participants can just read the abstract, introduction, and summary and then come to the discussion if they are interested in the details.

For example, some articles that raise interesting questions for traders include:
1. Should we follow the 'smart money'? Do they really move markets or are they random? Can we track them? Does Smart Money Move Markets?
2. Can we profit from buying low price-to-book companies? How can we tell if these companies are likely to go bankrupt? The Use of Historical Financial Statement Information to Separate Winners from Losers
3. How likely is it that news articles / message board postings / day trading activity / etc. are predictors of stock price movement? [Too many articles to post here]
Any there are many, so many, papers on combining machine learning / statistics / NLP with predictions for stock returns / volatility / investor sentiment.
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