Best Trading Books for Entrepreneurs, CEOs and Freelancers
Trading is something humans have done since the beginning of time. Ever since people discovered that things have value, they have been quick to use that to their advantage. But what are the tricks of the trade, so to speak, when it comes to trading?
You and I want the same thing; we both want that secret wisdom legendary traders have. While reading through the best trading books won’t necessarily guarantee that, it will offer a great start and some considerable knowledge on what to do to improve your skills.
Like many of the traders before you, you’ll get to where you need to be with sufficient experience. You may stumble and fall, but, when properly guided, you should be able to learn from your mistakes and eventually achieve success.
What’s great about my compilation of books is that there’s always one that will cover the current level of your trading skills. We’ve all got to start somewhere, right?
If you’ve only dabbled in trading before and enjoyed it, now’s your chance to get serious. It may seem like a game of luck that you’re not willing to bet on, but words from our experts should convince you otherwise. For the authors of most books in this collection, luck doesn’t just happen for anyone; it happens to those who work hard for it.
Trading books help you think more clearly so that you can make better decisions. They’re also the type of books you should read again and again so you can ingrain in yourself the lessons they teach. Don’t move from one book to another without truly understanding the purpose of the book.
So, without further ado, let me introduce you to a compilation of essential reads on trading. May these books take your trading skills to the next level and help you win at life.
Best Trading Books
The entire company has organized around "Playing to Win" which is a book written by A.G. Lafley and a colleague of his.
Listen, there are many ways to deploy strategy in companies. This is one I found to be particularly helpful because organizations have a lot of trouble making decisions, particularly at our scale.
So this notion of where to play, what countries, what market segments, what products, and where not to play because we can't do it profitably, has been a very good discipline. ...
And then once you determine where you're going to play, how to win. That is through a combination of where you are going to excel versus competitors.
It's actually been a really good common framework that we can apply across HP. It's easily understandable and actually forces the tough trade-offs.
Storms of My Grandchildren: The Truth About the Coming Climate Catastrophe and Our Last Chance to Save Humanity
This summer, Mackenna is learning more about the birth of behavioral economics, the psychology of white collar crime, and the restoration of American cities as locations of economic growth.
I read this book after completing my exposition of overcompensation, how a stressor or a random event causes an increase in strength, in excess of what is needed, like a redundancy. I was also looking for evidence of convex reaction to stressor, or the effect of a mathematical property called Jensen's inequality in domains and found it exposed here (in other words, why a combination low dose (most of the time) and high dose (rarely) beats medium dose all the time. The authors presents the evidence for the phenomenon in the following: 1) acute stressors cum recovery beat both absence of stressors and chronic ones (this includes thermal variations); 2) stressors make one stronger (post traumatic growth); 3) risk management is mediated by the deep structures in us, not rational decision-making; 4) winning causes an increase in strength (the latter are more complicated effects of convexity/Jensen's Inequality).
Great book. I ignored the connection to financial markets while reading it. But I learned that when under stress, one should seek the familiar.