CEDAR VALLEY BUSINESS MONTHLY
Key resources to further your ﬁnancial education Financial trading can be intimidating. What’s the best method to ensure good returns and few losses? How do you determine whose advice is best? How do you build a resource library? Trust your instincts. Run from book covers that promise “holy grail” methods. Karris Golden Trading sucis vice president of cess requires the Traders Press patience, realisInc. and coauthor of tic expectations “My Money Journal,” and education. a book that teaches Publishers of children ages 4 and financial litolder about personal offer ﬁnance. E-mail her at erature karris@traderspress. several sound com. resources to convert the nervous novice to a seasoned trader and informed investor. Even if you never execute a trade, you’ll be empowered to take a more active role in your ﬁnances. It’s best to begin with classics. Understand the history, and you’ll develop an understanding of the mindsets and methodologies. “Reminiscences of a Stock Operator” is in the must-read category. There are many versions of this masterpiece; the best is Jon D. Markman’s annotated edition, published by Wiley. Other top choices are Robert Sharp’s “The Lore and Legends of Wall Street” (Irwin Publishing), “Where are the Customer’s Yachts?” (Wiley) by Fred Schwed Jr. and Jesse Livermore’s “How to Trade in Stocks” (Traders Press Inc.). Once you know the history, tackle the basics. “The Secret Keys to Smart Investing” (Financial Guidebooks) is a quick read and full of great information. Written by Russell R. Wasendorf Jr. and Dan McMullin, it explains how to diversify your portfolio across unrelated asset classes. Sunny J. Harris’ “Trading 101” and “Trading 102” (Wiley) are nuts-and-bolts guides that outline the mechanics of creating,
testing and implementing personal trading techniques. Jack Schwager’s “Getting Started in Technical Analysis” (Wiley) also is a good basic text that covers the art and science of deciphering price activity to better understand market behavior and identify trading opportunities. In addition, “How Wall Street Works” (McGraw-Hill) by David L. Scott is a Q&A-style resource ﬁlled with fast information on ﬁnancial planning, stocks, bonds, mutual funds and taxes. Michael J. Carr’s “Smarter Investing in Any Economy” (W&A Publishing) explores the beneﬁts of relative strength investing. If you’re interested in options or futures, stick with popular reads. “The Rookie’s Guide to Options” by Mark Wolﬁnger (W&A Publishing) is a best seller. Meanwhile, Russell R. Wasendorf Sr. authored McGraw-Hill’s deﬁnitive, best-selling primers: “All About Futures,” “The Complete Guide to Single Stock Futures,” “All About Commodities” and “All About Options.” If you know a pint-sized entrepreneur, turn her or him on to
“Make More than Your Parents” (HCI) by Mike Bundlie, Kevin O’Donnell and Bart DiLiddo. Those with basic trading knowledge may wish to expand their skill set. Renowned options educator Mike Tosaw authored “Go Long: New Options Strategies for Buy & Hold Investors” (W&A Publishing). In it, he outlines unique ways to diversify your retirement portfolio. “The Quants: How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It” by Scott Patterson chronicles the story of the 2008 market crash. Many now use “the Quants” methods. Wiley even sells “The 2011 Quant Traders Almanac” is based on these techniques. J Dalton Trading offers “Field of Vision,” a DVD and workbook set based on the techniques of legendary trader James Dalton. The retail price is $750 — a bargain for those who can’t afford his renowned weeklong seminars. New this fall is Charles Rotblut’s “Better Good than Lucky,” (W&A Publishing) which outlines how you can use the risk-reward ratio to improve your trading success.
W&A Publishing also offers the “SFO Magazine Personal Investor Series” — anthologies that take the reader through basic to advanced articles on a particu-
lar topic. There series consists of four volumes: online trading, technical analysis, trading psychology and foreign exchange trading.
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