Summer Reading List: Trading: The Best of The Best

Most books on trading will become outdated, but this one won't.

The best tips and tricks for the market. The best tips and tricks for the market

You may know that I am the author of the book Trading: The Best of the Best - Top Tips for Our Times, but what you may not know is that I designed this book so that if NEVER goes out of date.  It is full of market tips and tricks from real traders, with links to their current content so it always stays fresh.

Here is an exclusive excerpt so you can see what I mean.

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There is a temptation to discount tips as not providing real value because by their nature they are short and simple.

That type of thinking is a mistake.  A good tip is not an end, it is the means to an end.  It is the spark that makes you think in more depth about a specific aspect of trading.

If you have to think for more than 5 seconds about how your trade is going to work, then it's too complicated. Simple is Sexy.  @chicagosean

Be contrarian in your thinking when it comes to entries and exits. If you run with the herd you are more likely to get run over by chasing the obvious.  @TodayTrader

Relative volume is the most important indicator for a chart breakout.  @stt2318

There are a lot of good stock pickers out there. That is 1 percent of trading. Trade management/position management; that's the next level stuff that takes you from doing this as a hobby to doing it for a living.  @Kunal00

Every stock chart is telling you a story...if you don't understand the story, don't trade the stock. @AnneMarieTrades

If you are trend-trading then the base is your friend – stay close to the base and trade around the base selling into extended moves away from the base  (chasing after extended moves is probably the fastest way to blow-out for new traders).  @HCPG

Be aware of your risk limits before your trade and play within them.

Most trading mistakes come from extreme emotions and extreme emotions arise when a trader takes more risk than he is prepared to take.  @ppearlman

Know your risk level aka 'uncle point' BEFORE you make a trade or investment NEVER afterward. @tradewithpete

Price Action Trumps All. You can improve your trading by just simply paying attention to price action.  @TheArmoTrader

Trade what you see, not what you think.  @1nvestor

Trading when you're tired, angry or distracted is a recipe for developing blind spots and ignoring proper trading signals.  @AnneMarieTrades

It's the trader responsibility to adapt to the ever-changing market conditions. No strategy will work well in every market.  You must constantly adapt.  @TraderStewie

If you don't use a wide, 30-minute chart to plan your trend and chop trades, do something better suited to you."  @daytrend

If you are reversion-to-mean trading then enter on extended moves away from the base (entering too early/close to the base, and getting blown out before the reversal most common mistake here for reversion to mean traders) and sell back into the base.  @HCPG

Many plan their trade entries but to manage your risk you must also plan your exit and do it BEFORE you trade.

 @harmongreg

Don't be penny wise and dollar foolish in choppy markets.  @ZorTrades

80% of trading is psychology. The best way to protect your confidence is to have a strong plan that produces consistent results and cut your losses quickly when you’re wrong.  @jfahmy

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