The most recommended books about trade

A superb history of a particular landscape in the midst of profound political, economic, and environmental transformation; it is a wonderful example of interdisciplinary research.

The book explores the Connecticut River valley in colonial New England, and shows how the economic needs and interactions of the Native American and European inhabitants completely reshaped the ecology of the region.

My favorite chapter is Roberts’s brilliant analysis of the lucrative trade in beaver pelts, which not only shifted the balance of power between Native Americans and European settlers, it also eradicated the beavers and their extensive network of dams, erasing the vast wetlands of the region and leaving the river itself unrecognizable.

Unwanted Neighbours is a captivating look at the frontier interactions between the Mughals and the Portuguese.

I like how Flores breaks the typical division between maritime and overland empires. The Mughal Empire was as much maritime as it was territorial, and the Portuguese maritime empire had an overland side to it as well.

The stories of cross-cultural relations in the book give texture to the past and help readers imagine the complexities of the characters in Mughal India.

The Millionaire and the Bard almost makes you believe in money. This biography of Henry Clay Folger records a great American success story: “Poor-Boy-Makes-Good” (with money from Standard Oil). But look at what Folger did with his money! He collected copies of Shakespeare’s Folios, the first edition of which is the most valuable book in the world ($9.98 million for the copy sold in New York on October 14, 2020).  

Andrea Mays tells three stories: the biography of Henry Folger, who saved the First Folio; the story of the Folio itself (how it was published, read, and preserved); and the creation of the Folger Shakespeare Library, an amazing research and educational institution, improbably sited in Washington, D.C. I love this biography because it proves that one person (greatly assisted by his wife) can surely make a difference!

I have a longstanding professional relationship with Debra Prinzing, who was a regular contributor when I was an editor at Romantic Homes magazine. Her stories and photos brought flowers to life in any issue she was in. She is also the founder of the Slow Flowers movement, which promotes growing and buying seasonal flowers locally. Prinzing’s newest book is a wonderful odyssey through the shops, studios, campers, and (yes) sheds of passionate growers and designers. Once again, by exploring the creative spaces of others, you’ll find a rich supply of ideas for your own space. Somehow, these floral artisans and their spaces create a synergy that’s impossible to resist.

And so if you are taken by the eerie success of Ichimoku charting, this is the book I recommend to get a thorough understanding. It was published in 2010 by an English trader, and to my knowledge was one of the first books solely on this topic. It has numerous colour illustrations that cover the analysis in great depth and opens the door for all traders to explore this progressive tool.

Incidentally, Ichimoku translates to "at one glance," and that idea summarizes well the effectiveness of the charts.

Covo investigates long-neglected economic aspects of the Haitian Revolution. Beginning in the pre-revolutionary period, when the French called the colony of Saint-Domingue (present-day Haiti) the “Pearl of the Caribbean,” this deeply researched book spotlights the role Haiti played as a commodities hub during the American, French, and Haitian Revolutions. I find this book particularly important because it shows how imperial trade and racial capitalism defined the age of commercial republicanism.

Outside of specialists, few people know about the complex international relations that developed in the Near East in the 2nd millennium BC, during the Middle and Late Bronze Age when Egyptian, Hittite, Babylonian, Assyrian, and Mitannian kings competed to gain power, prestige, and territory. Leaders created an intricate system of treaty agreements, diplomatic protocols, trade relations, and dynastic marriages to further their aims and keep peace. (Wars played a big role as well.) Diplomatic correspondence from these periods reveals the personalities of the kings involved: some complain, some wheedle, and others command, but all are anxious to retain power and earn the support of their gods. Well-chosen quotes from ancient sources and Podany’s lively writing style make this a rewarding and entertaining read. 

Professor Laleh Khalili provides an absolutely riveting account of the transformation of the Gulf region, where the U.S. fifth fleet has operated since the 1990s, into a hub of world commerce in oil and arms. She argues that the lines between civilian and military logistics have grown increasingly blurred. To prove it, she takes us aboard the container ships, detours back to the time when British firms and government agencies ruled, explores the ports and free zones, follows the rails and roads, and uncovers the complex labor relations that make war and trade possible. 

This book by David Aslanian features the Armenian merchants of the New Julfa district of the city of Isfahan in modern-day Iran. They conducted long-distance trade between India and Europe and competed against some of the giant corporations of the day such as the Dutch East India Company. The experts of the old silk road trade competed against the new maritime trades well into the nineteenth century.

In The Confusions of Pleasure Timothy Brook captures the consternation of a local official as he witnesses the cultural and economic changes wrought by the rise of private wealth in the late Ming, (c. 1600). Unable to raise adequate revenue or to adapt the conservative agrarian foundations of its legitimacy to changing times, the Ming eventually collapses from within, unable to protect itself from marauding bands led by a disgruntled former government post station worker and subsequent invasion by a foreign force. Yet, those who are able to adapt to changing times survive. The resonances for our own day are multiple and apt. 

One of my favourite books from a few decades ago is Jane Jacobs’ Systems of Survival. 

She is best known for her work on cities, but this has a wider canvas. It explains how all working societies, and organisations, combine contradictory moral syndromes, what she calls the guardian and trader syndromes. She also shows the pathologies that result from mixing them up too much, like when businesses become like governments or governments become too much like businesses. 

It is one of the rare books that changes how you see the world – and helps you understand the errors in much social thought.

Mangan’s work completely changed the way that I thought about the colonial mining industry and the complexities of Andean gender systems. Through careful case studies and historical scholarship, Mangan gives voice and texture to the lives of Andean market women, artisans, and ordinary miners who filled the streets of Potosí and its surrounding communities. Trading Roles translates global histories of credit, market capitalization, and urbanization into intimate details of family and community life, and in so doing makes it clear that gender was – and is – a central part of Andean mining history. Readers interested in the interactions of gender, commerce, and Indigenous politics in urban spaces will be well-served by Mangan’s work.

This book examines the exotics imported into China during the Tang Dynasty (A.D. 618-907) and depicts their influence on Chinese life. During the three centuries of Tang came into the land the natives of almost every nation of Asia, all bringing exotic wares either as gifts or as goods to be sold. Ivory, rare woods, drugs, diamonds, magicians, dancing girls—the author covers all classes of unusual imports, their places of origin, their lore, their effect on fashion, dwellings, diet, painting, sculpture, music, and poetry.

This book is for students of Tang culture and laymen interested in the same topic. Its author Edward Schafer was an eminent American sinologist.

Another intimate view of Mediterranean social history, The Captive Sea: brings to light the way networks of captivity and ransom operating between Hapsburg Spain, Ottoman Algiers, Morocco, and beyond helped shape the Mediterranean as an integrated region in the late sixteenth and early seventeenth centuries. Hershenzon tracks the interactions of various agents involved in the ransom economy— imperial bureaucrats, clergy, merchants, diplomats, renegades.

Combining a wide-angle frame of geopolitics with the particular cases registered in letters, petitions, Inquisition reports, and other archival sources, he reconstructs some remarkable stories that illustrate the complexity of networks of interaction and circulation: stories of individual captives like Fatima, daughter of an Algerian Janissary (slave soldier), or the connected histories of captives (in some cases of quite modest social station) from both sides of the religious divide, repatriated through the correspondence of wives or mothers back home. 

It has been broadly recognised in recent years that the traditional perception of early-modern Atlantic business as a male-dominated space is outmoded and inaccurate. In this superb book, Ellen Hartigan-O’Connor shows that the women who participated in commerce – from all ranks of society – were not exceptions in exclusively male-dominated markets but were ‘quintessential market participants’. Appealing strongly to my own approach to business history, Hartigan-O’Connor marries social and economic history, providing an updated view of who the commercial players were in eighteenth-century America.

Economists are arguing to this day what gave rise to the enormous rise in living standards since the 1750s. Deirdre McCloskey argues in this first book of her Bourgeois trilogy that it resulted from a cultural shift in which bourgeois virtues replaced aristocratic ones. The book opened my eyes to the importance of cultural attitudes (dignity and stigma) of various economic and social activities. McCloskey claims that sustained economic growth and innovation were crucially dependent on the dignity of the bourgeois and their commercial activities. McCloskey’s fluent prose which interweaves empirical historical knowledge with literary allusions remains a model to me. 

Histories of Japan’s encounter with the West typically start from the premise that prior to its “opening” by the American Commodore Perry in 1853, Japan was a “closed” society that shunned contact with the outside world. This book, which explores the relationship between the Tokugawa shogunate and the Dutch East India Company (the VOC), presents a radically different story: one in which one of the world’s most ruthless commercial operators was forced to humble itself before the shogun. It’s an essential corrective to anyone who equates “world history” with the rise of the West.

With a scholarly eye for detail, Keaye explores the history of the spice routes. The trade is at once mysterious and hard to trace yet also world-encompassing. It started more wars and sparked more discoveries than any other global exchange.  This book elegantly covers over 3,000 years of human history and leaves the reader with much to think about. 

Trading is a mental sport.

I have been teaching and mentoring traders since 1999. In that time I have seen over and over again that success comes from the ability to maintain discipline and withstand emotional discomfort.

Everybody wants to buy a system or strategy “that just works”. Well, as somebody who has developed many great strategies I can tell you this harsh truth… The best system in the world is worthless if you can’t follow its rules.

This is the core reason why over 90% of traders fail, lose money, and quit in disgust.

This book is one of the best I have found on the subject of trading discipline and mindset. If you are at all serious about your success in the market…start here!

This well-written and well-illustrated book tells the story of Vikings, their ships, travels, and trade in the context of the global history of the ancient World – reaching from the Atlantic to China and from North Norway to Africa. The Vikings were far from the only great seafarers, warriors, and tradesmen of their time. They were part of far-flung networks, which also traded ideas. Contemporary travel accounts and recent archaeological investigations and finds are important components of this attractive book, written by international specialists.