Wednesday, March 29, 2006

Professional Stock Trading - Mark Conway & Aaron Behle


This is a technical book for those of you who believe in technical analysis (stocks, futures, options, etc.) and are looking for a book that will give you a good guidance and jumpstart.
Many code samples are included in the book, making it a real valued resource for those that are using the TradeStation platform and would like to make some shortcuts in understanding technical methods, technical analysis, programming and research aspects that will probably save you lot of time.
The book describes in details technical methods for designing a trading system using the TradeStation platform, including lot of snippest codes that helps to generate various signals on the analyzed stock.
The book should be used side-by-side with a trading platform, otherwise it will be too difficult to follow, interpret and to make a full use of it. A basic knowledge of EasyLanguage (TradeStation programming language) is also required for better understanding the samples and in order to be able to make them work for you, since the provided samples might require some adaptations to the latest version of TradeStation.
Although I have not made money from that book yet (still reading, sorry, and hey I'm calling it "yet" meaning I beliebe it will come) - I believe it to be a great resource for anyone who is going to use automatic trading.

Wednesday, March 01, 2006

Fishman: The Enigma - Arie Avneri

This is a biography about one of the most active business managers and owners in Israel - Eliezer Fishman. The book tells the stories of E.Fishman from a young boy and until 2005, how he started, the big failure during 1983 and the collapse of the stock exchange in Israel, the way he re-generate his success and leveraged his abilities by using connections, massive bank loans, lot of business sense and accounting capabilities and much more.
An interesting book for those who familiar with the Israeli business community.

The Little Book That Beats The Market - Joel Greenblatt


I recieved that book a week ago from a friend who trades for a living. The book deals with a strategy for a long term investment with an above average yield and this by using the suggested "Magic Formula" that described in it.
The book (actually a booklet) is written for non-professional investors (or investors to be) using an easy language that mixed rightly with cynical humor, making the reading a real fun.
At the end of the book (which comes very quickly) the characteristics of the "Magic Formula" are known and can be implemented by anyone who is willing to gain a yield of at least 15%+ a year in the next decade - looking forward to a wealthy pension.
In short, the "Magic Formula" gives a realistic method for selecting stocks for investments based on economical ratios that are well known for each one of the stocks by using regular and standard means. Each of such stock is than added to the portfolio for one year. The portfolio contains 30 stocks on average and the overall investment "system" was checked with real data by using the historical values of the last 17 years - Interesting.