Day trading and stock market (Intraday trading) is one of the fascinating sources of earning money. Well, let us tell you that making money from day trading is not an easy task, and it is not everyone’s cup of tea.
Knowledge and psychology are the two key factors that can help you make money in the stock market using a day trading strategy. This Comprehensive list of best day trading books can help you with both the key factors: knowledge and psychology. These books give the proper knowledge about day trading, and along with that, you’ll get the appropriate idea of a trader’s psychology.
Day trading books mainly helps beginner who doesn’t have any idea about day trading strategies and rules. Advanced traders can also take help from these books by adopting the advice in the books.
To sum up the topic in one line – Day trading books help you with the essentials of the stock market and let you know the different strategies and tactics that can be used. Also, it is aware of avoidable pitfalls.
Once you start making money with day trading, you can invest a good amount of money in long-term instruments because billions come from compounding and value investing. Read these books on investing money recommended by Warren Buffet to get a good knowledge of value investing.
Table of Contents
Best Day Trading Books for Beginners:
As a beginner, you should learn the basic rules of trading. The books we have mentioned below are specially written for new traders.
1. Interactive Day Trading: Ultimate Trading Guideby Satish Gaire
The name of this book itself, “Interactive Day Trading: Ultimate Trading Guide,” tells the nature of it and what things it has for us. The book covers all the major things a trader would need to make an intraday trade, such as technical analysis, indicators, company fundamentals, several techniques to identify perfect stocks, and a detailed trading guide to help you reduce loss and increase profits.
The Best part is the author has explained each and every term of the stock market in layman’s language. Also, the book is filled with visual images for better understanding, and it includes a video course as well in which the author has explained the concepts and helped in their trading journey.
The book doesn’t have any unnecessary things included; all the information, knowledge, and strategies are practical and actionable, and that’s the plus point of this book.
2. A Beginner’s Guide to Day Trading Online by Toni Turner
This book tells you all the basics of the stock market in an easy-to-read and easy-to-understand way.
It teaches you about perfect entry, exit, and even decimalization of stock price. This is in the list of bestsellers and tells you about some more trading products such as ETFs (Exchange Traded Funds) and E-minis.
Toni Turner has shared all his experience in the trading world and gives simple advice and a roadmap.
3. Technical Analysis of Financial Markets: A Comprehensive Guide to Trading Methods and Applications by John J. Murphy
This one is on the list of sellers on Amazon, and there is an excellent reason behind it. The author has made this book super easy and understandable by adding charts and graphs.
The core of this book is technical analysis and covers almost all types of chart patterns, including double top, double bottom, head & shoulder, and more. This helps you to increase your chart reading skills.
It also covers Intermarket relationships, stock rotation, and quizzes to help you better understand the stock market.
4. Start Day Trading Now: A Quick and Easy Introduction to Making Money While Managing Your Risk by Michael Sincere
The basis starts with all the basic things of the stock market and day trading and covers all critical factors, including technical analysis, charts, patterns, and indicators. Once the reader grabs the knowledge about all the basic things, it slowly brings you to the purpose of reading this book, and that is executing your first trade. With thorough details and a systematic guide, it becomes easy to trade.
Also, it has some invaluable money management lessons that can help traders manage their money effectively.
5. How to Day Trade for a Living: A Beginner’s Guide to Trading Tools and Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
What would it be if you got the freedom to make money from anywhere in the world? Treading is one of those few careers where you can gain good income along with freedom. Many people get inspired by this and start trading, but only a few succeed.
In this book, the author has shared his story of how in the early he made some profit and then lost it very soon. Andrew Aziz says that the reason for his losses was a lack of knowledge about trading. The main motive of this book is to trade aware of how important it is to be well-informed and vigilant about day trading.
Best Day Trading Books for Advanced Traders:
After you have learned basic trading strategies, You have to advance your knowledge by reading some books that are written for advanced traders.
1. Japanese Candlestick Charting Techniques: A Contemporary Guide to the Ancient Investment Techniques of the Far East by Steve Nison
This book is written by Steve Nison, who is responsible for introducing Japanese candle stick techniques to the western world.
This book is one of the best day trading books for advanced traders, the book has tons of knowledge on practical candlestick charting patterns and techniques and how a trader can use these techniques in almost any trading market with other technical analysis strategies.
2. Technical Analysis Explained, Fifth Edition: The Successful Investor’s Guide to Spotting Investment Trends and Turning Points by Martin J. Pring
This book is known as a bible of trading and technical analysis; right now, there is the 5th edition of this book since the original book was published in 1980, which means around 40 years ago.
The book has special techniques and strategies for future profits. Also, it offers a step-by-step guide on how to use technical analysis to improve your portfolio.
3. Mastering the Trade by John Carter
The book is one of the perfect guides available in the market as it is written by an active trader. In this book, John Carter has mainly shared his personal experience in the stock market and how people fall into psychological loopholes while trading in the stock market.
Mastering the trade offers priceless knowledge and value, such as detailed instructions, countless strategies, and more. It also gives you ideas on a detailed trading plan. Along with that author has mentioned thought insights of trading from his own experiences.
4. High Probability Trading: Take the Steps to Become a Successful Trader by Marcel Link
High Probability Trading book mainly focuses on a critical concept that only trades when the profit probability is high enough. The book has answered so many many questions that a trader can ask, such as the right time to trade, how many times to trade, in which instrument should trade, and many more questions.
The book has numerous tried and tested strategies and trading plans that advanced traders can apply to their trading and maximize their profits.
Learning how to trade is not a game of one night, you have to practice every day and follow all trading and psychological rules to gradually become a profitable day trader. This list of best day trading books will help you to get that target and will make you a beginner to advance.
Sourabh Sharma is a hobbyist book reader, Entrepreneur, and a literature student at Delhi University. A blog writer by day and a book reader by night, he is oathed to discuss himself in a third person but can be persuaded to do so from time to time.