These are some of the blogs/sources I read each day to try to keep on top of what is going on out there. This list is not complete, I will add more of my sources but this is a start. BTW, I haven’t added these in endorsement of/agreement with everything these bloggers/sources write, that’s not the point; the point is these are the best sources I have found to provide data, information, knowledge, wisdom … and to stimulate my thinking.
I have tried to split the sources into functional categories (though there is often overlap).
I use TweetDeck v0.38.2
Hate to sound like a computer snob but the newer versions I found to be very unsatisfactory indeed. v0.38.2 I find easier to use, allowing me to view streaming tweets in a single column, something I couldn’t do with the new version (maybe it can be done, but I couldn’t).
Daily MARKET Analysis sources:
High quality market comments.
Marc to Market: The Financial Commentary of Marc Chandler
The Bonddad Blog
Another fine, data-driven source, the writer analyses US economic data developments and contextualises these in terms of financial markets responses and moves. Valuable work.
Futia has recently set up a paywall for much of his fine, live content. But what he posts on his free blog contains the odd absolute gem that will help you make a lot of money trading. He uses point and figure charts (a part of my toolbox too).
TRADING/ANALYSIS METHODOLOGY sources:
If you want to embark on a process whereby you will learn to read price action, this is your man. I began corresponding with ‘motorway’ a few years ago and now feel privileged to call him a friend.
Much to be learned from reading this blog. Tweets too, pay attention …
Tsachy Mishal tweets/blogs live – a MUST.
VIX and More
Very valuable blog.
ECONOMICS analysis sources:
Tim Duy’s Fed Watch
If you are ready to receive sensible, rational analysis of the Fed’s words and actions, this is the the place.
A Dash of Insight
I cannot speak highly enough of this blog. Cool, calm, rational … an indispensable resource. I eagerly await Jeff’s postings each week. I have categorised this into ‘economics’, but it could have easily have gone into the ‘market’ analysis category. The perspective is on an investment horizon, not a day- or short-term-trading horizon, so be aware of this when reading this excellent blog.
The Capital Spectator
Califia Beach Pundit
Industry experience and sensible analysis.
“Other” – some of these really are “other”, some of them cover multiple categories:
As the name implies, mainly forex … financial news & views, breaking news, great twitter feed for live developments. Like I said, mainly FX, but in this RORO world, relevant to other trading products too.
Global Macro Monitor. A must. http://macromon.wordpress.com/
Economic Calendars … quite a few listed just below, but my ‘go to’ calendar is from ForexPros http://www.forexpros.com/economic-calendar/
Financial Times Economic Calendar http://markets.ft.com/Research/Economic-Calendar
Trading Economics Economic Calendar http://www.tradingeconomics.com/calendar-list-by-country
Forex Factory Economic Calendar
Bloomberg Economic Calendar
High quality comments on bond-related issues.
Investment manager. Cool, rational approach to analysis.
That’s it for now, more coming.
(Like Macro Man, Marginal Revolution, Market Folly, The Big Picture …)
I suppose I should include a few books that I find useful. I am going to have to do some digging in the shed, one of my most useful books ever is out there. That might seem strange, a really useful book being out in the shed. The shed is the resting place for those trading books that I don’t bother keeping close by (there are a lot of books out there…). Some of these are useful books, but might be in the shed because I have moved on from them, or just haven’t bothered looking at them for a while. But there are a lot out there that would be better off as mulch for the garden.
OK, back to the useful book. Well, the thing is, I don’t even remember the name of this book, but I do remember what was most important in it. I read it when I was much younger and the most important lesson in it, obvious to me now, remained obscured to me in my youth (you know how you already know everything when you are young, right? … No? OK, maybe that was just me then).
It was an above-average technical analysis book, from an English author (I will try to find it). Most of it was explaining various technical analysis techniques, risk management, and so on. But then he applied the techniques to three example trades. In each case all the techs lined up, everything looked good and he placed the trade. And in all three examples the trades moved in his favour a little and then stopped and went sideways. After a period of time, he closed out the trades for some tiny profit. To say I was underwhelmed and unimpressed is about right. I wanted to hear about how all the analysis worked beautifully and the trades returned fantastic profits. That’s what happens in most TA books, right? That’s what you pay for, right?
Like I said, the lessons were lost on me then, but eventually came back to me. I wonder what lessons are still passing me by each day? Plenty, I imagine.
OK, so here are four useful books; they alternate between my desk, the bookshelves, and beside my bed.
Pit Bull by Marty Schwartz.
Taming The Lion by Richard Farleigh. Just buy it, OK?
OK, this next book … I really hate the title. Makes me feel like some sort of religious/paranormal/new-age nut whenever I recommend it. OK, here goes:
Mind Over Markets
OK, bet you feel like clicking off this blog now, right?
There is a subtitle, which is, perhaps, even worse. It sounds just like your standard TA over-the-top hype. OK, so the full title is:
Mind Over Markets: Power Trading with Market Generated Information.
Authors are Dalton, Jones and Dalton
Outstandingly valuable book.
The Alchemy of Finance
by George Soros
OK, so that’s five. There are other books, too, and other traders/investors are going to have other recommendations. Schwager’s books of interviews are great. As background, and quite helpful to read, is Edwards and Magee’s Technical Analysis of Stock Trends. Just keep in mind that this is a very popular book and the ‘patterns’ discussed in it are widely known and acted upon.
The books and blog of Brett Steenbarger. If you are going to go down the path of ‘trader psychology’ (whateverTF that is) the two books of Steenbarger are your best bet. Based on solid research and practice.
Also, check out the work of K. Anders Ericsson (actually, very important that you check out the work of Ericsson). 1 2 The definition of ‘deliberate practice’ is critical; deliberate practice is not just practice. Very important. While on the subject of Ericsson, these two articles are important to read while reading Ericsson: http://www.sportsscientists.com/2011/08/talent-training-and-performance-secrets.html
and http://www.sportsscientists.com/2011/08/training-talent-10000-hours-and-genes.html. I’m going to discuss these in a blog post, they are marvellous work.
Articles of use/interest
Well, they are to me, anyway.
The Effort Effect: According to a Stanford psychologist, you’ll reach new heights if you learn to embrace the occasional tumble.
Article about Carol Dweck (author of Mindset: The New Psychology of Success) and her work. http://www.stanfordalumni.org/news/magazine/2007/marapr/features/dweck.html
How To Make Your Own Luck