Good every day trading books that teach me to trade stocks and ETFs
Reading stock trading books is necessary for every trader. Beginner traders and also experienced traders need to read fresh opinions and new ideas.
It’s good to reread good books again. There’s something new or remarkable every time the trader reads the same book again.
Don’t read a lot of them in a short time, though. One title every four to six months is probably enough.
Here below is a list of stock trading books I’ve read with my thoughts about them.
I read some of these books regularly as part of my continuous and never ending stock trading education process.
These books could be divided into several categories. The first category contains books that describe basics of stock trading, different type of stock analysis, kinds of stock trading and investing strategies and stock trading systems.
Books from second category are books that already describes advanced techniques that are useful for stock traders and investors. These books cover topics like
stock trading psychology.
Another category are books that contains
conversations and interviews
with professional or private traders. These discussions are very good type of stock trading education as they provide direct insight into minds of successful money managers. The most valuable informations are often hidden in one or several single sentences that could be found in these interviews.
A Beginner's Guide to Short-Term Trading Author: Toni Turner
This is really a very good book for every beginner trader. Also more experienced traders will find many useful ideas.
Although it can be a lot of information to read, I recommend it very much.
Toni covers every aspect of trading from describing stock market basics to detailed descriptions of nice and simple stock trading strategy for swing stock trading. I especially like her breakout and pullbacks trading setups, which are also basics for my simple stock trading strategy.
Super Trader, Expanded Edition: Make Consistent Profits in Good and Bad Markets Author: Van Tharp
This book will not describe any specific stock trading strategy
But I like this book very much as it covers all details of stock trading business plan. How to create trading plan that allows you to be profitable trader in the long run.
I think that every trader should have this book in his/her library and read it regularly. It is really one of the best stock trading books.
Trading for a Living: Psychology, Trading Tactics, Money Management Author: Alexander Elder
This book covers many aspects of trading for a living.
I think that it places too much emphasis on psychology, but the author is a practicing psychiatrist.
I recommend this book, especially the final part of the book describing the Triple Screen Trading System and Money Management. Here you can read description of this stock trading strategy and use it as inspiration for your own stock trading strategy creation.
Beyond Candlesticks: New Japanese Charting Techniques Revealed Author: Nison, Steve
This book is “must read” book to learn the basics of candlestick charting.
Every trader using charts and technical analysis must read this book. I bought it several years ago, and it’s a book that I like to reread every year. It helps me to burn candlesticks basics and candlesticks interpretation into my brain.
There’s a lot of theory in this book, but when you study your own charts and use the knowledge from this book, you’ll recognize why it’s so important to read, and you’ll have an “aha” moment.
Steve Nison has also
his own educational website
where you can obtain very good candlesticks' education programs.
Trade Your Way to Financial Freedom Author: Van Tharp
The must read book for traders and investors
Well this book is huge. 500 pages. But it is worth of reading. One of the best stock trading books. It will show you how to improve your trading or investing process to generate much more money.
Market Wizards: Interviews with Top Traders Author: Jack D. Schwager
Read how best fund managers trade
This book is full of conversations with most successful traders and investors - with hedge fund managers managing their and client's money. If you are short term trader or mid-term investor, you will find person with similar approach here. These people discuss also what are most important aspects of trading/investing from their point of view.
Reading of these interviews is really good way of stock trading education.
I definitely agree that it’s not a problem to pick up trading. The most complicated part of trading is its management, and this book can help every trader a lot. The emotions and how to control them - it is also important issue you can read in this book.
One of very usable and recommended stock trading books.
Inside the House of Money: Top Hedge Fund Traders on Profiting in the Global Markets Author: Steven Drobny
It’s really a good book for everybody who’s interested in what the leading hedge fund managers know.
All interviews are very friendly, no super-hero stories. It’s very inspirational reading. I like to read how these minds are thinking, what their approach is to financial markets, etc.
What is best stock analysis and stock trade software? I have tested several
stock trade software packages
and I've selected
AMIBROKER
as my preferred stock chart software.
Stock trading journal
Every profitable trader should keep stock trading journal. I personally use
these two solutions
Both are very useful stock trading journals and help me to reach my profit goals.
Best stock trading books
I cannot imagine that I could learn how to trade stocks without reading good
stock trading books.
Good stock market book helps a lot in learning phase but it also improves trading for a living. I always find something useful in some of them.
