Famous Traders

Some traders left a significant trace in the history of the financial world. These prominent speculators are idolized by the traders and researched by the biographers. Often, analysis of such persons’ life and trading habits produces an important piece of knowledge that can be used in the learning process by many traders. Books that describe the biographies or the trading styles of the famous traders are listed in this category.

Way of the Turtle by Curtis Faith

Way of the Turtle or The Secret Methods that Turned Ordinary People into Legendary Traders talks about principles derived from the famous Trading Turtles experiment proposed and conducted by Richard Dennis more than 25 years ago. The book is written by one of the Turtle Traders — Curtis Faith. The experiment has successfully showed that the a newbie trader may taught trading skills quite fast and that almost everyone can trade profitably given these necessary skills. Way of the Turtle offers the main ideas behind the original Turtle Rules offered by Richard Dennis with various additions and development from Curtis Faith. Like the original Turtles experiment intended, this book will also teach you everything you need to become a successful financial trader even without a previous experience in the field. If it has worked some people in late 20th century, why won’t it work for you now?

Soros — The Unauthorized Biography by Robert Slater

«Soros — The Unauthorized Biography» tells the story of the «world’s greatest investor». George Soros is one of the most prominent figures in the investment and financial trading world and all his professional career can serve as a guide for learning the way of a trader. Robert Slater made this biography without the help or supervision of Soros, basing his book on the well-known facts and the stories of the people that know or knew George Soros (thus «unauthorized biography»). This book is mostly about the Soros’ life and the reasons that had led him to the world of investments and how he managed to reach the success. There’s almost nothing about trading techniques or the investment principles themselves in this book; but, nevertheless, I suggest reading it because it will certainly help everyone to understand the way of thinking of such a great man as George Soros.

Trade Like Jesse Livermore by Richard Smitten

Trade Like Jesse Livermore by Richard Smitten is a result of over two years of the deep research. It follows the life and the trading career of the famous stock trader Jesse Livermore. This book describes all technical aspects of the Livermore’s system — order conditions, timing, money management and emotional control. Jesse Livermore is famous for living through many stock market crashes and gaining success in every kind of a financial market. His career became a basement to several trading books. Trade Like Jesse Livermore tries to offer something similar to Livermore’s system but, unfortunately, you can’t know for sure if it’s exactly that system. Anyway, you can read the book and find out at least some parts of that successful system.

Entries and Exits: Visits to 16 Trading Rooms by Alexander Elder

Entries and Exits — an innovative approach to the trading writing by the author of popular books — Trading for a Living and Come Into My Trading Room. This time Alexander Elder invites his readers and fellow traders to join him in the trading rooms of sixteen expert financial traders to learn their strategies, secrets and tips. This books offers 16 different role models of the professional trader to follow. Why would they share their trading methods and strategies? Because they know that knowing a method and strategy is only a part of success. More important is that the author shows why these traders are successful, why their overall behavior should be modeled. Every human person is different, what works for one won’t work for the other, that’s why there are 16 trader models are offered — reader will be able to find those behavioral tactics and trading strategies that would fit his psychological character.

45 Years in Wall Street by William D. Gann

45 Years in Wall Street — a revision of the stock trading seen through the technical analysis by one of the giants of the mid 20th century’s financial traders and the great contributor to the cause of the mechanical analysis in trading William  D. Gann. He was one of the first trading writers and the author of the quite popular indicators — Gann Lines, Gann Fan and Gann Grid. This book was written when Gann was already a more than a successful trader and acknowledged expert in his profession, the only objective of this book was to share his enormous experience with other traders. Despite this book being about stock trading and some of the methods being somewhat outdated, it can still be considered a great book to understand the most fundamental aspects of the technical analysis and the market trends.

The New Market Wizards by Jack D. Schwager

The New Market Wizards is a second book in the series and in some way a sequel of The Market Wizards by the same author. It focuses around the interviews of successful financial traders, who managed to find their place in ever-changing markets and developed their unique tactics and behavior to earn from trading. They are successful enough to be called wizards of the market. Schwager writes that the best way to learn trading is to listen to those who know how to trade. All presented interviews are made with real traders that perfectly fit as the role models. Searching for a holy grail and spending thousands dollars on various systems, tips and signals isn’t the right way of reaching success in Forex; knowing little secrets, techniques and understanding others’ experience is one of the easiest and cheapest ways to master trading.