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The New Trading for a Living

Alexander Elder · 2014 · Level: beginner

The updated edition: modern markets, updated tools, and the same backbone of psychology, method, and risk control.

For prop traders: If you buy one Elder book, buy this one; the original remains fine on the psychology.

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Market Wizards

Jack D. Schwager · 1989 · Level: all levels

Interviews with the great traders of the 1980s: Paul Tudor Jones, Ed Seykota, Bruce Kovner and others on entries, exits, and above all risk.

For prop traders: The single best calibration for what real traders obsess over. It is not entries.

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Reminiscences of a Stock Operator

Edwin Lefevre · 1923 · Level: all levels

The fictionalized life of Jesse Livermore: tape reading, pyramiding winners, and going broke by ignoring his own rules. A century old and still current.

For prop traders: Livermore blew up accounts the way traders blow evaluations: oversizing after wins. The original cautionary tale.

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How to Make Money in Stocks

William J. O'Neil · 1988 · Level: beginner

The CAN SLIM system: earnings growth, new highs, cup-and-handle bases, and strict loss cutting. The root text of modern breakout trading.

For prop traders: Nearly every momentum method in use today, including the ones prop traders run on futures, descends from this.

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How I Made $2,000,000 in the Stock Market

Nicolas Darvas · 1960 · Level: beginner

A dancer trading by telegram develops the Darvas box: buy strength breaking out of a range, trail a stop, ignore the noise. Short and readable in a day.

For prop traders: The simplest complete breakout system ever put in a book, and a clean first read before O'Neil.

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