Market Wizards

Three of the most influential books in my trading career were the Market Wizards trilogy by Jack Schwager.

If you are looking for a book that will reveal how to make 10 million pips a day, or a ghost written book about how to rock and roll your retirement, you should look somewhere else. If you are looking for books that will just all out inspire you and make you want to prop your eyelids up with toothpicks so you can finish them in one sitting, these are for you.

The books are interviews with some of the top traders at the time. And guess what? some of them are still the top traders.

With the exception of a few stories, these traders have a lot in common. It's not the instruments they trade, and it's surely not the analysis methods. Some will say that technical analysis doesn't work, while others are quick to point out that it's the only way to trade. And some combine both technical and fundamental analysis to come up with their strategy.

What are the common threads among these traders? MONEY MANAGEMENT. PUTTING THE TIME IN. CONSTANTLY LOOKING FOR AN EDGE AND EXPLOITING IT. BEING DOWN AND ALMOST OUT, BUT NEVER GIVING UP.

Here are my favorite interviews from each book, but I'm sure I'm forgetting some:

Market Wizards:

Marty Buzzy Schwartz: In case you haven't read my review on his book, go here

William O'Neil: Founder and editor of IBD

Paul Tudor Jones: One of my idols

Tony Saliba: Just an all out inspiring story of how he was basically out of the business before turning it around

New Market Wizards:

Linda Bradford Raschke: One of my mentors, and one of the best traders still in the business

Victor Sperandeo: 2B tops and 1,2,3s were some of the earliest chart pattens I learned

Stanley Druckenmiller: One of my favorite interviews

Stock Market Wizards:

Steve Cohen- Anyone ever heard of him?

Mark Cook: Another one that was almost done, and came back with a vengeance

Every book is a fantastic read cover to cover. Schwager does a great job
Here they are:

Market Wizards: Interviews with Top Traders

The New Market Wizards: Conversations with America's Top Traders

Stock Market Wizards: Interviews with America's Top Stock Traders

Feel free to contact me with any thoughts and opinions on these.

Michael tiny Saul

tnymjs at gmail dot com

FOREX Book

I'm excited to announce that my new FOREX e-book will be available for download shortly.

FOREX is a great market, and one that all traders should at least take a look at.

The book will be an introduction to the currency market and it will be free for all to download.

Michael tiny Saul

tinymjs at gmail dot com

I've read this book 20 times

I can't stop reading this book, and it has a permanent spot in my rotation. It's not a trading tactic or strategy book, but the money management techniques and trader psychology are invaluable. The stories that Buzzy tells as a stock, stock options, and futures trader are entertaining and educational, to say the least.

Pit Bull: Lessons from Wall Street's Champion Day Trader

Michael "tiny" Saul

tinymjs at gmail dot com

Trading in the Zone and The Disciplined Trader

I found the Disciplined trader a little tough to get through the first time I read it, but some light bulbs went off after I read Trading in the Zone and gave The Disciplined Trader another go through.

Everyone is so caught up in finding the Holy Grail indicator, scanner, or buying some over-hyped, over priced list from some super scam artist on the promise that it will change your trading forever. I know because I am just like you. It's not lookng for shortcuts or general laziness, it's continuously looking for something "better".

What I've learned in 15+ years of trading is that the greener grass does exist, and it comes in the form of changing your mindset when you are taking trades. Nurturing good habits while stomping out the bad habits takes time, but it is well worth it.

Indicators, scanners and software can all have their place in your trading. It's important to keep in mind that they are just tools. Your "market mind" is the foundation for your success.

I highly recommend Trading in the Zone and The Disciplined Trader. I believe they will assist you in making the change you desire in the way you approach your trading.

You can get them both at Amazon:

Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude

The Disciplined Trader: Developing Winning Attitudes


Michael tiny Saul

tinymjs at gmail dot com

My all time favorite book on Technical Analysis

A true classic, and I still reference it almost every week. Considered by many to be "the" reference book for charting and technical analysis.

Technical Analysis of Stock Trends by Robert D. Edwards and John Magee

Let me know what you think.

Michael tiny Saul

tinymjs at gmail dot com