Recommended reading

1) Nicolas Darvas – “How I Made $2,000,000 in the Stock Market”.

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This is a great book that I read years ago and its a real classic. Darvas went through the process of learning how to trade much like most people do today as he first began by searching for the “secret” to making money in the market. And after finding no success from trading on the stock tips of others including brokers and newsletters, Darvas figured out that he ultimately had to develop a trend following system on his own.

2.Extraordinary Popular Delusions and the Madness of Crowds by Charles Mackay

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The name of the book describes exactly what you might expect it to contain. “Extraordinary Popular Delusions and the Madness of Crowds” provides a list of history’s ridiculous schemes, fantasies, prophesies witchcraft, faith healers and more. This is one of the greatest books ever written. First published in 1841, I think it has been in print continually ever since.

3. Way of the Turtle – The Secret Methods that Turned Ordinary People into Legendary Traders

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Richard Dennis and his partner William Eckhardt selected a small group which became known as “the turtles.” They were taught for 2 weeks and then given money to trade based on what Dennis had taught them. The first group was so successful a second one was started in 1984 until the program ended in 1988 by which time Dennis had made $120 million on his share of the winnings.

 

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