It’s been a while since I’ve updated my list of Best Trading Books which I recommend to traders looking to up their game. And there’s a good reason for that, I didn’t see anything interesting out there that would make it as a “Top Trading Book”, that’s till I recently came across this fantastic book. First I need to say this isn’t a paid or incentive driven review, I didn’t get a free book, and I have absolutely no affiliation with the writer. I just think that One Good Trade is a damn good trading book which almost any trader can benefit from.

I did skip the first couple of chapters (mostly prop trading related) but then instead of skimming through to the end like I would do with most new “get rich quick” / secret formula trading book for stocks / futures / options and all other instruments on the planet, I actually started seeing some really good material in it which kept me reading. It’s like one of those gem of a trading book that Dr. Brett Steenbarger publishes (his 2 books Enhancing Trader Performance and The Daily Trading Coach are absolute must read).

The author of One Good Trade, Mike Bellafiore covers almost everything you can think of in terms of the journey to becoming a good trader. From specific advice on Tools of Success:

To real world examples and explanations on sound trading building blocks such as

And more advanced stuff such as reading the tape, high frequency trading, when to press your winners etc.

Even if you’ve read dozens of trading books in the past (who hasn’t..) I would still encourage you to pick up this one.

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I’ve just started reading Greenspan’s The Age of Turbulence. Yes I know it’s been out for a while, I just got around to it. It’s quite a fascinating look at how he views the financial systems in the US, the markets and the role of the fed. Naturally one can’t ignore comparing things to current times and current chairman and I found several parallels between the aftermath of 9/11 and the present financial crisis, the slew of bad financial news, the fed’s processing of the information and how it reacts. It mostly led me to believe Bernanke couldn’t have acted any different from what he did. As if it didn’t matter who they put at the head of the organization.

I’m sure there are many books being written now about the 2008 economy and market collapse. It has all the ingredients of a best seller, high profile corporate failures, stock market plunges, investment gurus actions and of course the Bush administration and Bernanke. If Bernanke ever writes something about this period it’ll be a must read.

I’m probably going to be mentioning books quite a bit over the next few weeks. For one, I’m done trading for 2008, after the wedding I’m on vacation and then we’re almost at the end of the year which means time off till early Jan 2009. Secondly, I’ve just received yesterday the ultra-sexy Sony eBook Reader PRS-505. I’ve already got about 40 books/PDFs loaded into it as well as Guns n Roses Axel Rose’s new Album Chinese Democracy. It’s a fanstastic and highly enjoyable little device.

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