Cornholio's Reading Suggestions

UPDATE: I have started a separate thread for Word documents, PDFs, presentations and that kind of stuff. I will still be posting links to posts and articles on this thread, but all files will be posted on the new thread. LINK: The PDF thread

UPDATE 2: Who the hell is Cornholio? He's a fictional character from an old cartoon that ran on MTV. He used todrink a lot of coffee at times and go crazy, calling himself Cornholio and looking for TP for his bunghole. It used to be my profile picture. I've attached an image below.

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I am starting this thread to share the news and articles that I have come across while browsing the web that are either directly or indirectly related to trading, traders' psychology or related fields. Over the years I have come across quite a few articles that are worth sharing. I am starting a new thread because I haven't come across a 'linkfest' thread that would be suitable for the kind of thing I want to do. I am not entirely sure this (Trading Discussion subforum) is the right place for this, so if the admins feel that this thread should be moved to another subforum, please do so.

I would like to encourage people to chip in with their own links, but please avoid submitting a whole list at once. We all need some time to digest what has been given to us. So, if you are in possession of a whole list of good reading material, may I suggest that you post those links in small portions? Thank you for your consideration.

Also, I would like to kindly ask that you mind your manners and language, not only on this thread, but elsewhere on this forum as well. If you feel angry or otherwise full of negative emotions, go jog, take a walk or do something to rid yourself of the excess (negative) energy, then come back. That's how I do it, anyway.

What else? Keep it neat, keep it tidy!

So, starting off, I would like to offer these links:

Goal Addiction and the Cult of Productivity

Self-Discipline: Part I (I am going to post parts 1 through 6 but if you're eager, go ahead without me)

Links for Tuesday:

The Kirk Report: Independent Trading: Pros & Cons

Why Intelligent People Fail

Self-Discipline: Acceptance (Part II of the Discipline series)

Links for Wednesday:

Nimble Fingers – How To Keep A Blogger’s Most Important Asset Healthy - this article is very important to those who spend a lot of time behind the computer, be it bloggers or traders.

Self-Discipline: Willpower (Part III of the discipline series)

Ed Seykota on Risk Management

How to Reboot Your Sleep Cycle and Get the Rest You Deserve

Trade Like Jesse Livermore (audio interview)

Self-Discipline: Hard Work (Part IV of VI)

Today is caffeine special!

What Caffeine Actually Does to Your Brain

Wikipedia: Caffeine

Caffeine: A User's Guide to Getting Optimally Wired

Reboot Your Brain with a Caffeine Nap

Last, but not least, the fifth installment of the discipline series: Self-Discipline: Industry

http://lpsc.in2p3.fr/klasen/theorie/...ink-coffee.jpg

Great thread and idea, will try and contribute.

Chart School: Technical Indicators and Overlays This link is vital to understanding what goes into an indicator and how it influences the outcome. This is not quant stuff, so it should be reachable for everyone who has an understanding of the English language (no scientific degree required). There's enough information there to last a week so I will keep the list of links shorter for today.

Self-Discipline: Persistence (last part in the six part series)

Deep Truth about the Markets and Investing

Free Ivy-League Lectures on the Economy - although not strictly related to trading, these lectures can help understand the fundamentals behind what moves currencies. Since quite a few people here are interested in economics as well as trading, I decided to throw it in. Enjoy.

Hi Bug

A nice thread.
If you have, I look for more materials about PA, TL, RL, SL and chart patterns to grow my knowledge for trading.
Have good pips.

tpat

Another great thread I've found here

Gotta bookmark it

Jack D. Schwager interview with Jim Puplava (in mp3 format)

Interview with Jack D. Schwager on CIO (text)

Vik22, tradpat, mihazupan1:
Thank you! I was actually kind of looking for posts like the ones you posted as I wasn't sure that a linkfest would survive around here. It makes me feel good to share and to know that it helps someone.

tradpat:
PA, R&S, pivots, candle formations and all that sort of stuff is all available here on FF, you just have to dig deep and stick with a thread (I just completed a 300 page thread last Sunday and it got a lot out of it). Since FF is so big and I am relatively new to this place, I don't have a mental or bookmark map of this place. You might want to browse through the posts of some of the members who appeal to you and who have been vouched for (or you could just as well ask them for the links they've bookmarked around here). If you go and have a look at their profile, you will see link to the threads they have started as well as the threads they have participated in. That's one way I search for stuff around here. I have 27 member profiles bookmarked, the ones that have caught my attention.
I will try and pick out some of the things that have crossed my radar on FF and post the relevant links here.

wow, cornholio has another thread
thanks, o Great Cornholio!

Rule of 72 A surprisingly large number of people have no idea what this is so I'll just throw it out there.

To lighten things up a bit around here, I decided to throw in two great laughs. Just make sure you're not sipping coffee while you're reading them.

Know your limit when drinking tequila by habeeb

Pretty Girls – You are Bad Trades

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Per request of tradpat I decided to look up some PA links. I don't know about the rest of you guys, but for me, the place that I've learned the most about price action is certainly the J16 thread. It will take some time to select the best bits but when it's done, I'll post the best posts that I've got bookmarked. I am also planning to do a software special soon.

Jim Puplava interviews Michael Covel (streaming audio and mp3 available)

Trading Plan Template thread at FF by Isotonic

MT4 navigational tips and techniques by hanover - this thread is an absolute must read if you are new to the MT4 platform. It is also a mandatory read for those who've been using it but don't quite know their way around it. Have a look at it and you'll be surprised to find how much you don't know about Mt4.

The Structure of Forex Brokers by Darkstar - planning to stick around for a long time if FX? Then you should really know what goes on behind the scenes.

Nice thread, Sir!

The Basics of Foreign Trade and Exchange

With the rumbling of the drums in the background, and my signature in mind, I present the following:

How hunger affects our financial risk taking

The hungrier an animal becomes, the more risks it's prepared to take in the search for food. Now, for the first time, Mikael Symmonds and colleagues have shown that our animal instinct to maintain a balanced metabolic state influences our decision-making in other contexts, including finance.

Nineteen male participants performed the same gambling task on three occasions, a week apart: either after a fourteen hour fast; immediately after eating a standard two-thousand calorie meal; or one hour after eating a two-thousand calorie meal. The task simply required participants to choose repeatedly between pairs of gambles, one of which was always riskier but more lucrative than the other.

The immediate effect of the meal was to neutralise risk aversion. For the men with more adipose tissue and higher baseline levels of leptin (a hormone that suppresses appetite), who are generally more risk averse, this meant they became less risk averse when performing the task right after eating. By contrast, for men with less adipose tissue and lower leptin levels, who are generally low risk averse, their risk aversion was increased immediately after eating, just as you'd expect based on the behaviour of hungry animals.

An hour after eating gives time for hormonal effects to kick in. As expected, men who reported feeling less hungry an hour after eating, and whose levels of acyl-ghrelin (a hormone that increases appetite) in the blood stream had fallen, played the gambling game in more cautious fashion. 'This parallels findings in foraging animals,' Symmonds told the Digest, 'where changes in metabolic state promote changes in behaviour to maintain or reach a metabolic benchmark (to take more risk if intake rate is relatively low, and less risk if intake is relatively high), but here we see the effect in the economic domain.'

The researchers said their findings have implications for understanding the behaviour of dieters, the obese and people with eating disorders. 'Prandial ghrelin suppression is reduced in obesity,' Symmonds and his co-authors wrote. 'Thus we predict greater risk-seeking in obese individuals following feeding, augmented by larger immediate post-prandial effects on risk taking due to higher baseline adiposity. This mechanism may underpin a component of the aberrant decision-making seen in obese individuals, including impulsivity and reward-seeking behaviour. We also predict profound effects on decision-making for individuals operating at very low baseline energy reserves [i.e. dieters and people with eating disorders]'

For the scientifically literate, here is a link to the page where you can download the whole research article in pdf form (the link is in the top right corner).

PS. I felt the need to post the whole article because blogger blogs get deleted so often these days (by the owners, of course). Needless to say, an empty stomach is a complete no-no on my trading check list.

Of all the authors whose writings I read, there are quite a few who have a stock market background. Stocks were my window into the trading world and even though I don't trade stocks anymore, I still like to read some of the authors who write about trading from an equity only perspective. Some of the things that they mention seem a little bit strange when viewed via forex spectacles, but that's alright, I think you can tell the difference between something that can and something that can't be applied to forex. With that lengthy intro, I would like to present you a few links from Charles Kirk (bio here), author of The Kirk Report.

A selection of articles from the 'best of 2007' list:
12 Trading Rules
Follow the Normal Routine

And here's a recent one from 2010:
Justification Mode (please read this)

One of the best take-away points from any of the articles or books I've read over the recent month or so has been from the 'Justification Mode' article. It was this quote that stuck with me:
"Can you afford simply to stay wrong just to protect your ego?"

It penetrated my consciousness in such a way that I had to have it where I could see it each and every day before I started trading. Perhaps I should add that immediately prior to reading that article, I had suffered a great loss from feeding my ego. Some call it fate, some call it a coincidence, but for some reason, I discovered that article and that particular line just when I needed it. That quote is now my background image and it will stay there until I have won the battle with my ego. It's a tough one, but having it there and reading it every morning has definitely helped me. My mornings literally start like this: I open up the PC, I see the quote and I reply 'no'. I will add the background image upon request.

Just one link for today:
How to Fail As a Trader in 10 Easy Steps

All good pieces of advice expect for 6, which is rubbish, there is no better way to wreak a edge than by telling people about it.