The 7 Best Trading Books of All Time

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day-trading-books

Introduction

I am pretty sure that you know that day trading isn’t suitable for everybody. Closing down trades before the end of the day brings some limitations such as incapability to gain overnight profits- which may be very significant.

Staying focused on the events of the day and watching charts can be very tiring as well as stressful. Truelly prosperous traders can also suffer burnout if they aren’t careful.

Primarily, managing risk as well as maintaining a level head are the greatest lessons that any day trader needs to learn. Therefore, if you’re to start out in the business, these are the seven best day trading books of all time that you have to read.

THE 7 BEST DAY TRADING BOOKS OF ALL TIME

Below is a list of 7 all time best day trading books:

day trading and swing trading the currency market

1. Day Trading and Swing Trading the Currency Markets
by Kathy Lien

The author of the book is one of the best analysts in the forex space. Kathy Lien is a regular invitee on some of the major finance channels such as CNN, CNBC and Bloomberg.

She is also the MD of BK Asset Management. Her market analysis is usually strong and she’s is a reliable source of day trading ideas.

This trading book is definitely among the finest day trading books of all time for traders. The book features sections on important strategies which are very valuable.

2. Range Trading: Your Step-by-Step Guide to Consistent Range Trading Profit by Michael Young

Range trading book

Day trading is very difficult and ways to steadily make cash with short-term horizons aren’t easy to come by.

Trends are also very choppy, while momentum breaks down frequently. In the meantime, the cost of trading inhibits most high revenue strategies, like scalping.

One of the finest ways to make profit from day trading is called range trading. The method works well since it tunes in to the mean reversion nature of day trading.

Although day trading is not easy, this book does a great job of explaining the concept as well as explaining how to purchase support as well as sell resistance.

3. Mastering the Trade, 2nd edition: the Proven Techniques to Profit from Intraday & Swing Trading Setups – John Carter

Mastering the Trade

This book by John Carter is a complete guide to trading that mainly focuses on intraday as well as swing trading setups.

The author is a Commodity Trading Advisor, this implies that he mainly focuses on futures. But that is not bad since day trading techniques apply to futures as much as they do to stocks.

Therefore, even if you trade stocks, you will find plenty of useful information on trading psychology from the 1st two chapters of the book.

Furthermore, the book explains the main tools that are essential in day trading and it also talks about some of the internal market indicators that you need to watch out for.

4. The Art of Short Selling by Kathryn F. Staley

The art of short selling book

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 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

the disciplined trader

Psychology has a very important role in day trading. So, if a trader allows losses to get the better of him, he will struggle in order be successful. Furthermore, most people are not disciplined enough to be successful in day trading.

Therefore, it is very important that traders keep a journal of trades and also trade with minimum risk percentage. Moreover they should also avoid looking at their profits and losses while they trade.

Although there are many day trading psychology books in the market, The disciplined trader: developing winning attitudes by Mark Douglas is definitely one of the best ones.

6. High Probability Trading: Take the Steps to Become a Successful Trader – Marcel Link

high probability trading book

The notion behind this book by Marcel Link is to only 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.

How you will ultimately act upon the probabilities will determine whether you will be successful or not. If you combine this with the correct frame of mind then you’ll have the perfect winning method to riches.

Before the author was successful in trade, he spent many years going through various trading methods as well as trading systems and he learnt various lessons in the process. The lessons are well documented 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

algorithmic trading systems

This book tells about the trading journey of the author, as well as how he developed trading strategies. The author is an award winning full-time trader, with more than 25 years of trading experience.

Unlike other trading educators, Kevin J. Davey has actually audited third party proof of his skills. He has finished in either first or second position in the world’s premier real cash futures trading contest in three years.

If you’re frustrated with your poor trading performance, this book can greatly help you to improve your trading techniques. If you are serious about having a successful long term carrier in trade then you must read this book.

Summary

Although there are many other books on day trading, the ones listed above will offer you a lot of good bits & pieces on how you can manage your money, trading psychology, emotions, hope, fear and greed.

The books will inform you about trading strategies as well as systems and help you to improve your motivation, trading expertise, as well as your motivation.

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Hi I'm Paul Koger, an ex-Prop Trader now trading from the comfort of my own home. My area of expertise is swing trading US equities, Although I have a strong interest in anything that is trading related. In case you want to get in touch - try Twitter @paulkogr or [email protected]

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