Lately I’ve been reading options theory by master practitioners. I like reading work by those who have done versus those who have theorized. As a result of reading work by practitioners, I unexpectedly developed more respect for academic theory. Reading, for me at least, has been a cure for my own ignorance. In order of first to latest of what I have considered essential works (over many years and incomplete): Reminiscences of a Stock Operator Market Wizards The Way of The Turtle John Murphy’s Chart school - Stockcharts.com Elliott Wave by Prechter The Alchemy of Finance Natenburg: Option Volatility and Pricing Managing Expectations Dynamic Hedging (in progress)
I am reading "Thus Spoke Zarathustra" from Friedrich Nietzsche (in French). Why? Because I can. Here... Have a taste of Nietzsche. Quite very much rare indeed, eh? It's Stanley Kubrick's interpretation of Wagner's interpretation of Nietzsche. You likey? It's sheer combined genius in all materialized forms.
It is a fun idea, but it will not work for most people. See, the meek newbie who wants to ask a question will be like... I bought a call at strike X with expiration a year from now, on the stock XYZ. Help? The music for that question be like... So dest comes back with the questions that turns it all on it's head. He'd be all... And the music you'd hear is... Dest's book would be a bit more advanced. Not for us, hehe.
I always find it funny when people come to me thinking that trading is like popping a wheelie on a 200 HP Hayabusa. Trading is like chess. Blitz chess when it gets more short term. It's like this: https://www.nobelprize.org/uploads/2018/06/nash-lecture.pdf Definitely not like this! (unless you want to lose all your risk capital quickly!):
I'm reading and listening to nothing. Because I feel it's best not to drown yourself with someone else's ideas when you don't have a clue if they are even successful, or if they could be setting you up for failure. I feel that gurus like Mark Douglas purposely train you with the wrong ideas to benefit the whales.
I know nothing about Mark Douglas, my "gurus" were Anton Kreil, Kevin Davey, Alexander Elder, and Charlie Burton. Apart Kevin Davey, none of them ever won the world cup. None of them ever shone except in training classes. Are they successful? Well, Kevin was in 2006 for sure, since he won the World Cup. The others? They may be making more money by being mentors than actual traders. This doesn't mean, of course, that gurus can't teach you anything. It perhaps only means that they're not the ones that will actually go for it. They're the ones who will talk about it, and most often talk well about it. But they won't go for it like they teach it. If they did, they would be champions, not gurus.
@Overnight: Those two videos made me laugh. And I recognized the Brian Eno song, but it took me a couple minutes to figure out where I recognized it from: It's part of the soundtrack for Trainspotting. Know that film? Yeah, that song was the broken toilet scene LMAO