If you didn’t know yet, day trading isn’t for everyone. Closing down trades before the end of the day brings limitations. One example is the incapability to gain overnight profits, which may be very significant.
Moreover, staying focused on the day’s events and watching charts can be tiring and stressful. Even successful day traders also suffer from burnout if they aren’t careful.
Therefore, risk management and maintaining a level head are the most important lessons any aspiring day trader needs to learn. So, if you’re starting a business, these are the seventeen best-day trading books you must read.
PS! If I chose just one, it would be this book.
PPS! I would also recommend reading my “how to day trade” article.
THE 17 BEST DAY TRADING BOOKS OF ALL TIME
Below is a list of 17 best day trading books of all time:
0. How to Hack Day Trading & Become Consistently Profitable
The core idea is also to give you the same basic guidelines the prop trading firm where I was taught to trade gave me. In addition, I’m showing you the seven core strategies that have made me the most money in the past three years I’ve been trading through my own company.
In addition, this book will add value to your trading. My core aim was to provide a fluff-free, straight-to-the-point, and easy-to-follow trading guide. I hope I delivered and am open to your feedback and constructive criticism.
Now onwards to the real list:
1. Day Trading and Swing Trading the Currency Markets
by Kathy Lien
The book’s author is one of the best analysts in the forex space. Not to mention, Kathy Lien is a regular invitee on major finance channels, such as CNN, CNBC, and Bloomberg.
She is also the MD of BK Asset Management. Her market analysis is usually strong, making her a reliable source of day trading ideas.
Furthermore, this trading book is among the finest day trading books for traders. It features valuable sections on essential strategies.
2. Range Trading: Your Step-by-Step Guide to Consistent Range Trading Profit by Michael Young
Day trading is complicated. Finding steady ways to make cash with short-term horizons steadily isn’t also easy to come by.
In addition, trends could be smoother, while momentum breaks down frequently. In the meantime, trading costs inhibit most high-revenue strategies, like scalping.
Moreover, range trading is one of the finest ways to profit from day trading. This method also works well since it tunes into the mean reversion nature of day trading.
Although day trading is not easy, this book does a great job of explaining the concept. It also teaches you how to purchase support and sell resistance.
3. Mastering the Trade, 2nd edition: the Proven Techniques to Profit from Intraday & Swing Trading Setups – John Carter
John Carter’s book is a complete guide to trading that mainly focuses on intraday and swing trading setups.
The author is a Commodity Trading Advisor, which implies that he mainly focuses on futures. However, that is okay since day trading techniques apply to futures as much as they do to stocks.
Therefore, even if you already do day trading stocks, you will find plenty of helpful information on trading psychology in the book’s first two chapters.
Furthermore, the book explains the main tools essential in day trading. It also discusses some internal market indicators you need to watch out for.
4. The Art of Short Selling by Kathryn F. Staley
This book is one of the best-selling books on short selling. The book takes a vital view of day trading and it also covers the theme of short selling from an estimation as well as forensic perspective.
The book explains how fundamentals usually drive long-term stock prices, why stocks usually get overestimated and why they remain overvalued for long periods.
Furthermore, the book also tells about the kind of catalyst which can signal good time-to-day trading as well as what to look out for in fundamentals so as to discover trading opportunities.
5. The Disciplined Trader: Developing Winning Attitudes – Mark Douglas
Psychology has a critical role in day trading. So, if a day trader allows losses to get the better of him, he will need help to be successful. Furthermore, most people need to be more disciplined to be successful in day trading.
Therefore, traders must keep a journal of trades and only trade with a minimum risk percentage. Moreover, they should avoid looking at their profits and losses while trading.
Although many day-trading psychology books are on the market, this book by Mark Douglas is one of the best.
Also read: How to Be a Successful Day Trader
6. High Probability Trading: Take the Steps to Become a Successful Trader – Marcel Link
The notion behind this book by Marcel Link is only to trade when the probabilities favor you. Therefore, when a trade setup comes, and the odds favor you, your capability to distinguish between risk and reward will improve.
In addition, how you act upon the probabilities will determine whether you will succeed. Combining this with the correct frame of mind, you’ll have the perfect winning method.
Before the author became a successful day trader, he spent many years going through various trading methods and systems. He also learned multiple lessons in the process, which are also in the book.
7. Building Winning Algorithmic Trading Systems: a Trader’s Journey All the Way from Mining data to Monte Carlo Simulations to Live Trading Kevin j. Davey
This book tells about the trading journey of the author, as well as how he developed day trading strategies. Kevin J. Davey is an award-winning full-time day trader with over 25 years of experience.
Unlike other trading educators, Davey has audited third-party proof of his skills. He has also finished first or second in the world’s premier real cash futures trading contest.
If you’re frustrated with your poor trading performance, this book can significantly help you to improve your trading tactics. If you are serious about a successful long-term trade career, read this book.
8. How To Day Trade For a Living: A Beginner’s Guide to Trading Tools & Tactics, Money Management, Discipline & Trading Psychology – Andrew Aziz
This book has it all! It’s beneficial if you are a beginner in the field. It offers real trade examples and outlines the process of their success in easy-to-follow guidelines and descriptions.
The author talks you through the entire process of day trading, ensuring the reader is aware this isn’t an online poker game, so you know that trading is not a form of gambling.
Instead, it is something you need to work at to be successful. It also requires perseverance rather than leaving it to chance.
Furthermore, he talks you through his experiences in the field, such as his luck and mistakes, to ensure you don’t have to go down the same path.
The book is about new-day traders. If you are at square one, the advice here will steer you in the right direction. Once you enter the money day trading system, you will compete against the big boys of the business on an international scale.
Therefore, knowing what you’re doing is essential. The author also ensures you don’t lose sight of your goal and know how to reach it.
9. A Beginner’s Guide to Day Trading Online, 2nd Edition – Toni Turner
Toni Turner covers a vast array of information in quite a small text, which is suitable for those who prefer a shorter read. The book will still be challenging, as it is highly informative. However, it can work better for those who want a quick read to which they can keep returning if needed.
The author takes you through trading techniques, methodology, essential resources, stock price directions, the idea of certainty, and the notion of chance and gets you in the right mindset to be a successful trader.
Moreover, there is a lot of in-depth technical analysis in the book. It also contains some charting to explain how different business models work. For instance, the graphs are a nice touch to aid visual learners.
The strategies Turner uses also ensure you have all the details you need in one place. This book is worth reading, especially if you prefer a more academic style.
10. The Simple Strategy – A Powerful Day Trading Strategy for Trading Futures, Stocks, E.T.Fs & Forex – Markus Heitkoetter
Don’t be fooled by this book’s size. It might be smaller, but you can learn more from it than from many significant, expensive books.
Markus Heitkoetter’s book offers techniques and strategies by guiding you with examples. It also clearly states that it won’t make you an overnight millionaire. Still, it provides you with the technical side of the business.
Additionally, it gives you the keys to moving from that beginner step into something more intermediate and advanced. Once you have studied the book, you can begin a stress-free trading style as you know all the risks and how to avoid them.
This book is also reasonably fun for those who want something lighter but still like to learn. Its easy-to-follow steps and range bar diagrams make this a must-have for those wishing to start a trading career.
11. Digital Day Trading: Keep Moving from One Winning Stock Position to the Next – Howard Abell
Howard Abell provides a guide that is not only useful but practical. He doesn’t waffle or use particularly academic language, which can keep his technical considerations short and sweet. In turn, he makes the book an easier read for you.
Abell offers advice from his work in the field. He also gives insights into his passion and central skill area, trading psychology. This topic is always good to learn, as you can get an edge over other traders.
For some, this book seems heavy. Despite being relatively easy to read, Abell does shower you with much information about various topics. But if you all want the basic guidelines, another book choice will suit your needs better.
However, this could be the ideal book for you if you want an in-depth discussion on technical analysis and day trading with trading psychology.
The approach is also sensible. Ultimately, Abell gives you the information to make you a better trader. So, if you fancy learning a lot, this is for you!
12. How to Day Trade Stocks for Profit – Harvey Walsh
If you are unfamiliar with the trading market but fancy giving it a go, Harvey Walsh might have the answers you need.
His style is clear, reasonably compact, and easy to read, which is essential when approaching a new learning subject. Trading itself can also be temperamental, so you need a clear and explanatory research resource.
Walsh offers various techniques on day trading, which will help you follow the path that best suits your mode of thinking.
This book is a beginner’s guide. After a while, you might not adopt these techniques. Instead, you might create them for yourself. Everyone has to start somewhere, and this book is excellent.
However, you also should read this book several times to fully benefit. You might miss a lot of information with the first read, but luckily it isn’t dull.
13. Come Into My Trading Room: A Complete Guide to Trading – Alexander Elder
Despite its title, this book requires a little knowledge before tackling it. So, complete beginners need help with some of the technology.
Some chapters are also detailed and complex. However, this isn’t necessarily bad, and some beginners will be okay with the reading—additionally, some background research before a purchase can’t hurt.
Moreover, this book is serious for those who are genuine about trading professionally. Unlike other books, it doesn’t offer much in the way of advice on specific types of investing and trading. Instead, it takes you an approach to conducting your small-scale trading businesses so you can expand openly.
Some of the chapters are ones you can revisit when you’ve gained the experience needed to understand them fully. As a general guide, this is one of the more popular ones on our list.
There is also a lot of emphasis on money management, types of processes, and the psychology of trading. So, this is a must-have read if you want to broaden your knowledge on the subject, this is a must-have read.
14. All About Day Trading – Jake Bernstein
With many options, figuring out where to start can take time. However, this book could be for you if you want something less complex. It slows the aspects of day trading down with breaks and informative chapters that don’t overwhelm you.
The book’s general basis is to overview how day trading works and how this adapts to the larger fields of other online financial markets. You can also learn about navigating past potential hazards and the fundamentals of the day trading field.
Once you have a firm grasp of the basics, Bernstein moves more onto the advanced notions of day trading. Still, you can revisit the basics at any time. The book isn’t heavy so that you can review it without problems.
In addition, it is a guide that offers it all, making it perfect for beginner-day traders who want to learn more before tackling the market. The book even includes some sections of psychology that teach you about psychological pitfalls and what to do should these occur.
15. Financial Freedom Through Electronic Day Trading – Van K. Tharp
Despite being well-written and clear, it can still be a challenging read. So, ensure you are up for some intense learning with this book. It also offers some harsh realities by informing you that 95% of day traders lose money and time.
However, they also try to ensure you don’t fall into this statistic.
This book is an essential guide to success. But it also goes beyond the usual trading techniques and technical analysis to offer the reader more. Moreover, it takes the reader’s serious consideration and what they need to make the trading experience successful.
Reading this book and looking closely at yourself will uncover what you need to create a trading career. An unusual approach works wonders if the reader is willing to keep an open and focused mind.
For the beginner, it offers low-risk strategies to give you a feel of day trading. For those with a higher level of experience, it provides momentum strategies. So it does hold something for everyone.
Overall, it is simple to understand as long as you have the basic knowledge and willingness to learn. This book will keep you from a beginner to an advanced trader.
16. Day Trade Online: Start Trading for a Living – Christopher A. Farrell
Farrell offers a well-rounded, disciplined approach to day trading ideal for beginners.
This book is educational, informative, and easy to follow, making it suitable for those with little knowledge and looking to expand their learning.
While many day trading books focus primarily on momentum strategies, Farrell takes a different approach by focusing on scalping.
This book is not for everyone’s taste, but worth looking at. It might also be the key that unlocks your trading success.
Farrell explains that all traders of all experience levels should focus on a conservative trading system. Doing this gives them an edge over those using the well-known momentum process. He also explores one concept from various explanations, which suits multiple readers’ needs.
Moreover, he takes the concept that momentum trading can trigger errors. This concept is especially true for beginners, as the trading pace becomes very fast. But, of course, this is only sometimes the case.
Different methods also work differently for other traders. This viewpoint is worth considering if you aim to make a successful trading career.
17. Day Trading: Beat the System & Make Money in any Market Environment – Justin Kuepper
This book is another example where some background knowledge helps. Day trading can be overwhelming, so we advise researching your path before purchasing.
With a desire to learn, Kuepper has provided much information in his book that will expand your knowledge. You will also get the experience needed to upgrade from beginner status.
In addition, this book guides you through trade ideas and tricks that mold your trading technique. It is also ideal for someone already in the trading business. The tools Kuepper offers demand you to look at your strategies and form these into something successful.
Learn From The Most Successful Traders Today
As with any new subject, the start can be overwhelming. But don’t be discouraged by the technical language and information these day trading books possess. They are all there as tools to help you; with some learning, you could be well on making money!
Although there are many other books on day trading, the ones listed above will offer you a lot of good bits and pieces on managing your money, trading psychology, emotions, hope, fear, and greed.
The books will inform you about trading strategies and systems. It will also help you to improve your motivation and trading expertise.