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Well, a swing trader is another piece of trading jargon that means
little except in book titles, I guess. We're all swing traders. Some
of us have longer swings between trades and some of us have shorter
swings. And then there are those of us who have swings that go in the
wrong direction. But we're all "swing traders".
I've read nearly 200 hundred trading books and the only ones that
I've found worth anything are these (Cooper's books were okay, but
you seem to really like them, which is good if he's your cup of tea.)
John Clayburg's Four Steps to Trading Success
Bill Williams New Trading Dimensions
Price Headly Big Trends in Trading
Mike McDonald Predict Market Swings with Technical Analysis
Alexander Elder Come into My Trading Room
John Bollnger Bollinger on Bollinger Bands
James Altucher Trade Like a Hedge Fund
John Ehlers Cybernetic Analysis for Stocks and Futures
Roy Larsen's newsletter www.metastocktips.co.nz
The best two are Clayburg's Four Steps and Larsen's Metastocktips and
Tricks newsletter. Both of them are huge bargins compared to what you
can learn. Clayburg's indicator system works well in any time frame,
in any kind of market and with mutual funds also.
Ehler's books are good too, but you need to be able to do your own
programming, or wait until he publishes the code somewhere like TASC.
This is a short list of the one's I've liked. I'm sure everybody has
their favorites. I probably forgot to include a dozen or so.
My list doesn't have the systems development books I've read. That's
another story. Those are much more complex books than the trading
books. I only recommend those to the truly deranged among us. (If you
are a newbie, please don't email asking me what kind of indicator
deranged is.)
I've probably donnated a 100 trading books to my local library. They
have a huge trading section and you can check those out for free. And
that's exactly what they are worth.
When you go broke trading, then you should read:
William Bernstein's The Four Pillars of Investing
This is the best buy and hold book ever written. You'll beat 95% of
the mutual fund managers just using his simple asset allocation
formulas, and over the last 5 years, you're worst losing year with
buy and hold would have been maybe 4% or 5%. That's hot in a bear
market. Of course, you have to be able to read and follow directions.
Buy and hold investors are swing traders too, but they tend to watch
the swings come and go.
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