Following the Trend: Diversified Managed Futures Trading
Well, can you blame me for recommending my own book first?
If you for some reason have not read Jack Schwager’s Market Wizard series yet, drop what you are doing and go read them now. All of them. He also just released a new book called Hedge Fund Market Wizards which should be part of the required reading for any trader.
Schwager on Futures
These two bricks from Schwager should be required reading for anyone looking to trade futures. They contain the base knowledge you need to start off in the game and teaches you about futures and the commodity markets.
If you would like an easy read about the commodity markets for a better understanding of this sector and what the driving factors are, Jim Rogers Hot Commodities is a short but to the point book which may help.
Way of the Turtle
Curtis Faith was part of the original Turtle experiment, where legends Richard Dennis and William Eckhardt trained 23 young rookies to become some of the world’s best traders.
How to Create & Manage a Hedge Fund
A good overview book on the hedge fund world and how the business side of the industry works.
Reminiscences of a Stock Operator
This book should be mandatory reading to anyone entering the field of trading. Published in 1923, this is a true classic that no one should miss out on.
Street Smarts: High Probability Short Term Trading Strategies
Market Wizard Linda Bradford Raschke and Larry Connors did an excellent job on this 1996 book on advanced short term trading patterns. Among other things, they teach how short term traders can predict the actions of us trend followers and exploit that knowledge to gain when we enter and exit.
Trading with Crowd Psychology
Carl Gyllenram’s pioneering book on trading psychology is a classic that provides a background and understanding of the emotions and thought process of the people who are ultimately behind the price fluctuations in the charts we look at every day.
Bubble Value at Risk – Extremistan and Procyclicality
The most important part of trading is to fully understand the concept of risk. You will never make money as a trader if you only focus on the upside potential. In this excellent book, Max Wong offers an in-depth view of risk management and some unique aspects of this critical concept.
More Good Books
I notice you did not mention any Michael Covel books on this page. Are his Trend Following materials – books or course – worth the cost?
Dean St Marie
Jack Schwager’s Complete Guide to the Futures Market is being released in an completely revised and updated second edition this year. I think it’ll be out at the end of August. Maybe you’ll want to add that to the list.
The Schwager on Futures series was a split up version of that book, so it’s probably more recommendable to buy the new Complete Guide that’ll be out soon.
Thanks, Sal! I didn’t know he had a new one coming out.
Happy Holidays. As a three year junior independent futures trader, and shall I say a studen really, last few months i took on a local trend following course on trend following for day trading and have been getting better results on my winning perecentage and sharp ratios on market replay and backtesting in sim. Really have been researching the market throughly for a well reviewed book on trend following futures and was about to consider Covels book but I found you and your book on Amazon. Will definitely be my next purchase. I study a lot on this strategy and although am a smaller trader in size feel that with the correct learning edge and understanding of smaller account sizes can play the market more responsibly and eventually find an edge here. Really look forward to learning from this book.