Trading books recommendation

[trigger1975]

Thought maybe it's a good idea to collect trading, psychology or related book recommendations for beginners and advanced as well.

I did read all these books (and more) and did chose them for this post as they are not only useful for one type of strategy (indicators vs. price action/technical analysis) – these books match all styles of trading:

• What I Learned Losing a Million Dollars – Jim Paul
• Mastering the Trade, Third Edition – John Carter
• The Disciplined Trader: Developing Winning Attitudes – Mark Douglas
• Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude – Mark Douglas
• Market Wizards, Updated: Interviews with Top Traders – Jack D. Schwager
• Reminiscences of a Stock Operator – Edwin Lefèvre
• The Complete TurtleTrader: How 23 Novice Investors Became Overnight Millionaires – Michael W. Covel
• One Good Trade: Inside the Highly Competitive World of Proprietary Trading – Mike Bellafiore
• The Daily Trading Coach: 101 Lessons for Becoming Your Own Trading Psychologist – Brett N. Steenbarger
• Trading Beyond the Matrix: The Red Pill for Traders and Investors – Van Tharp
• The Black Swan: The Impact of the Highly Improbable – Nassim Nicholas Taleb
• Stock Market Technique Number One and Number Two – Richard D. Wyckoff (have not read it, yet)

Not specifically about trading but for building good habits and discipline, which are essential for successful trading:

• Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones – James Clear

Books about investing (except the "Intelligent Investor" I haven't read these books by myself but have heard quite a lot of good recommendations for these books):

• The Intelligent Investor – Benjamin Graham
• The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns – John C. Bogle
• Warren Buffett and the Interpretation of Financial Statements: The Search for the Company with a Durable Competitive Advantage – Mary Buffett & David Clark

Indeed also books about Kostolany

Update 2020-04-01: Added Wyckoff and books about investing.

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[palle11]

Not specifically about trading but for building good habits and discipline, which are essential for successful trading:

The books you listed are fantastic but this quote is nice to trading. If a trader has no discipline then he will keep making same losing trade mistakes.

Apart from the books, a trader should practice because you need to check your emotions. You don't read all the good research work and assume you can trade. Do your practice and learn.

[Pom_bensin]

Not specifically about trading but for building good habits and discipline, which are essential for successful trading:

The books you listed are fantastic but this quote is nice to trading. If a trader has no discipline then he will keep making same losing trade mistakes.

Apart from the books, a trader should practice because you need to check your emotions. You don't read all the good research work and assume you can trade. Do your practice and learn.

It seems that there is also a need for a combination of reading trading books and also psychology books on trading. I think it can make someone broaden their knowledge in trading and also increase their mental insight when they want to trade. So I think both types of books are suitable in combination for trading and as a guide

[abel1337]

This is a good list of books about trading, I might try reading some on the list.

I can recommend this book "Inside a Traders Mind", This is good for newbies that are starting out and has a really good initiative to continue to study about trading after he/she read the book. This book teaches you what is the key components that experienced traders have and also teaches you what preparation you will need to the road to a successful trading career.

[sheenshane]

There are tons of trading books selling on Amazon and to be honest, the one that I wanted to buy is the book of Mark Douglas, I like this author and his book is worth it to read.

In addition, there's a book of day trading that might be interesting to read too.

• Day Trading For Dummies by Ann C. Logue
• Start Day Trading Now by Michael Sincere

• A beginner's guide to short-term trading by Toni Turner

(more books to find)

The most that I liked is the book of Mark Douglas, The Disciplined Trader.

[Darkelf11]

In reading a single trading book for now because I can't finish yet due to different circumstances but now it's less hassle for me to find more trading books thank you for this information. Not but just reading trading books, articles, pdf files on internet but also I tried to make trading with my bare hands also it's not worth it if you just trade only because what you read it's better if you trade too with your experience so you can come up with a better mindset in trading.

[hd49728]

• Market Wizards, Updated: Interviews with Top Traders – Jack D. Schwager

This is one of the most favorite books I read many times. If you like that book, you would follow the Twitter account of the author: Schwager.

Here is the link to Schwager account on Twitter: https://twitter.com/jackschwager
The Youtube channel, Confessions of a Market Maker has some informative and insightful videos for you[/url] to begin your trading career and sharpen your trading skills.

[hugeblack]

Thank you for sharing these resources, but it would be better if you add quotes about these books, basic information you learned from it. The knowledge you gained from it and the order of its reading (which one to read it first.)

Personally, I think that a person start educated him self about money, stocks and risk management before start investing in cryptocurrencies.
during that time you can buy Bitcoin using DAC strategy.

[trigger1975]

Thank you for sharing these resources, but it would be better if you add quotes about these books, basic information you learned from it. The knowledge you gained from it and the order of its reading (which one to read it first.)

Good idea.  Will add to the post later today.

[death69]

Cant say anything else. Those books are amazing. I have read trading in the zone, and it is one of the best. It teaches us how to become a trader who is consistent with his decision and does not allow emotion to cause us any wrong judgement

Technique only distribute 50% of being a successful trader. There are bad habits you need to get rid of. Thereafter, you will feel that there is nothing on this world can be as easy as a trader. But remember to practice on the market so that you improve both your techniques and your minds.

Well, since I do not have much money to buy many books, this link does help me a lot : https://vn1lib.org/
If you have made money from trading, try to support the authors by buying them

Good luck everyone on your trading career

[Wind_FURY]

OP, add this to your list, “Dying of Money” by Jens O. Parsson, https://www.amazon.com/Dying-Money-Jens-Parsson/dp/1457502666

Free copy, https://recision.files.wordpress.com/2010/12/jens-parsson-dying-of-money-24.pdf

It’s not actually a “trading book”, but the lessons in that book are currently as relevant today, during the BRRR money-printing days of the COVID -19 pandemic, as the BRRR money-printing days of post World War 1 Germany.

[airdata]

I heard about Trading book on the past but unfortunately  i don’t read this type trading book but i know that it is always helpful for trading.
Actually i see that many people read this type book for better understanding about trading.     

[LUCKMCFLY]

You must see what your focus is, if it is market speculation or investment, in the same way I recommend all the books you can read by Richard Wyckoff, and all the books you find by Jesse Livermore, if you are focused on investing Warren Buffet's books they are the best.

If you want to understand many market facts and how you can help the crypto market, I recommend Malkiel Burton's "A Random Walk on Wall Street", I think with that selection you can have a different approach to the market, and then you can start with technical analysis, indicators, among others, but I recommend that you begin to understand the market, how it moves, what causes it, and those books will help you a lot, in the academies they will never teach you how to understand the market, the books will.

[Wind_FURY]

OP, this is another book that teaches the lessons of the mistakes of Weimar, Germany, https://www.amazon.com/When-Money-Dies-Devaluation-Hyperinflation/dp/1586489941/

“The Dying of Money” only has one chapter about the topic, “When Money Dies” is a whole book about the subject. I cannot emphasize enough how the lessons in these books are very relevant to our current situation with Modern Monetary Theory.

[aysg76]

The list provided by the OP is good and cover most of the topic and give you life saving lessons on how to succeed in market by using you skills and knowledge to the fullest.The "Trading in zone" by Mark Douglas is one of the recommended book for new trades as well as experienced traders in the market. Here are some of the best quotes from that book mentioned below:

Money is just something you need in case you do not die tomorrow. Let this is a reminder for you not to obsess over profits and losses. In whatever you do, strive for enjoyment, focus, contentment, humility, openness... Paradoxically (and as an unintended consequence) your trading performance will improve significantly.

The expectation that you bring with you in trading is often the greatest obstacle you will encounter.

There are no guarantees in trading. The sooner you accept that you sooner you can release your expectations and focus unconditionally on a proven process.

In order to succeed, you first have to be willing to experience failure.

[batang_bitcoin]

Thank you for all of those books that you have put into one list. They're really helpful when someone asks to find for what books a newbie trader or someone who's already trading good to read. It's been a long time since I've read some books but in a different topic, I guess I'll find any of these books as reference to read soon. Are there available free PDFs for some of those books?

[fortebettor]

Thought maybe it's a good idea to collect trading, psychology or related book recommendations for beginners and advanced as well.

I did read all these books (and more) and did chose them for this post as they are not only useful for one type of strategy (indicators vs. price action/technical analysis) – these books match all styles of trading:

• What I Learned Losing a Million Dollars – Jim Paul
• Mastering the Trade, Third Edition – John Carter
• The Disciplined Trader: Developing Winning Attitudes – Mark Douglas
• Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude – Mark Douglas
• Market Wizards, Updated: Interviews with Top Traders – Jack D. Schwager
• Reminiscences of a Stock Operator – Edwin Lefèvre
• The Complete TurtleTrader: How 23 Novice Investors Became Overnight Millionaires – Michael W. Covel
• One Good Trade: Inside the Highly Competitive World of Proprietary Trading – Mike Bellafiore
• The Daily Trading Coach: 101 Lessons for Becoming Your Own Trading Psychologist – Brett N. Steenbarger
• Trading Beyond the Matrix: The Red Pill for Traders and Investors – Van Tharp
• The Black Swan: The Impact of the Highly Improbable – Nassim Nicholas Taleb
• Stock Market Technique Number One and Number Two – Richard D. Wyckoff (have not read it, yet)

Not specifically about trading but for building good habits and discipline, which are essential for successful trading:

• Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones – James Clear

Books about investing (except the "Intelligent Investor" I haven't read these books by myself but have heard quite a lot of good recommendations for these books):

• The Intelligent Investor – Benjamin Graham
• The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns – John C. Bogle
• Warren Buffett and the Interpretation of Financial Statements: The Search for the Company with a Durable Competitive Advantage – Mary Buffett & David Clark

Indeed also books about Kostolany

Update 2020-04-01: Added Wyckoff and books about investing.

Most of these books you have given are not tips but the story of the individual player. Only he did it that way and history does not repeat itself. Everyone has a completely different cycle and a completely different background. There is never the same version of events. Two people doing the same thing but with a delay of 2 months will have completely different results, not to mention after 2-5 years.
 

[trigger1975]

Most of these books you have given are not tips but the story of the individual player. Only he did it that way and history does not repeat itself. Everyone has a completely different cycle and a completely different background. There is never the same version of events. Two people doing the same thing but with a delay of 2 months will have completely different results, not to mention after 2-5 years.

I disagree. Sure they tell their story but the important message is their approach on risk management, discipline, trade planning and the importance of a plan and sticking to it. And that is a universal message a trader needs to learn. The people want to learn strategies from mentoring but too less people want to learn all the other stuff from experienced traders.

And indeed: one needs to incorporate his experience and the lessons learned into this own trading reality. Nobody said something else.

[Kelvinid]

Too many, I mean a lot of books that we could use to be a reference on how to make good decisions and this is not only for trading purposes but this could be useful in every day. We often make decisions every day right?

I can't imagine if this is the only way that as a trader and to become a successful trader will have to read them all, it is really a huge sacrifice for us. But this will be all wasted if we just read but never applies in real life, specifically in trading. We often do mistakes because we don't bother to think more than twice before making a final decision and that what we wanted to change.

[Wind_FURY]

Thank you for all of those books that you have put into one list. They're really helpful when someone asks to find for what books a newbie trader or someone who's already trading good to read. It's been a long time since I've read some books but in a different topic, I guess I'll find any of these books as reference to read soon. Are there available free PDFs for some of those books?

Many of those books in the OP can be downloaded illegally online, if you know where to look. If you want to download them, then make a personal promise to buy the books you downloaded illegally for free once you have made your money from trading.

[leea-1334]

I have to say I agree with Wind_FURY I have no problem with all of these downloading stuff without paying for. I do it for music and other things a lot,,, but I always do my best to buy the actual thing later on if I really like it so much. It is a mark of respect and thank you to the original creators:) Like how we tip Bitcoin to people we really appreciate!

[batang_bitcoin]

Thank you for all of those books that you have put into one list. They're really helpful when someone asks to find for what books a newbie trader or someone who's already trading good to read. It's been a long time since I've read some books but in a different topic, I guess I'll find any of these books as reference to read soon. Are there available free PDFs for some of those books?

Many of those books in the OP can be downloaded illegally online, if you know where to look. If you want to download them, then make a personal promise to buy the books you downloaded illegally for free once you have made your money from trading.

That wouldn't hurt me if those books won't cost a lot each. I'll refrain from downloading it from illegal sites because it might contain some free virus too. 
If the source is clean and virus-free and gives it freely, that's a better deal but if there's none, then better to take it from those legal and official sites where it is downloadable with a fee. Thanks though. 

[ReiMomo]

Thank you for sharing that book, I guess all of them were really help you to understand everything especially if you are new to trading.
The most common problem of traders is to learn basic things such as technical and fundamental analysis. If you know this everything, it means you are ready to execute and trade during winter since most people don't go any further and prefer to stay at home that could positively gain profit once you have read all those books that sure it has good content.

I am starting reading now and I hope there is something absurd in my mind regarding trading.

[Distinctin]

I am starting reading now and I hope there is something absurd in my mind regarding trading.

These books are worth reading but of course, you can't see how it works if you never applied it.

I usually spend my free time reading books, watching YT trading tutorials but we notice that it has a big difference in live trading. Actually, you can use all the learning that we got from those things but we have to analyze the market carefully because not all the things that we have read and shown online are similar to actual trading.

Trading tests us how to make a decision in a certain scenario. If we are not careful doing and this, or unable to analyze the market first, that it makes us fail and lose. That is why I can say that this is not a place for everyone, honestly.

[sheenshane]

I am starting reading now and I hope there is something absurd in my mind regarding trading.

These books are worth reading but of course, you can't see how it works if you never applied it.

I usually spend my free time reading books, watching YT trading tutorials but we notice that it has a big difference in live trading. Actually, you can use all the learning that we got from those things but we have to analyze the market carefully because not all the things that we have read and shown online are similar to actual trading.

If you're willing to learn everything is around you, you can seek information on the internet and there are too many books in online merchants that you could learn in trading if you are a newbie.  Just keep reading and searching if you want to learn, this is the most important before stepping into the trading field because it required knowledge and great skills on how to analyze the market price flows either it's a fundamental or even a technical analysis would be fine as long as you have a source in forecasting the market price.

Technically, ain't even good in trading that's why I prefer to invest and hold a long period of time to maximize losses.  If I have enough funds and full my bag in the year 2018 when the Bitcoin price or the entire crypto market was down, it might be good to cut your profit now. (sigh  )

[Johnyz]

I’d love reading books and this is one of my great source of knowledge and its good that Ebooks are also growing since there’s a very limited books on our bookstores with regards to cryptocurrency and stock market.

If you’re a newbie, reading books can help you learn the basic information about investing, trading and anything that you are interested with but make sure that you don’t limit yourself on books only, try also to watch online, attend seminars and attend financial trainings. Thank to OP for sorting this out, this is a big help.

[el kaka22]

I am just wondering how many of you still having habit of reading books? After e-books, audio libraries and test-to-speech things, I become too lazy to make us of paper books (these days after pandemic, I am afraid of touching daily newspapers and reading only epapers).

Recently I bought some books but I made sure of soft copy CDs are included; I mean along with looking for better authors and publications, I just added another criteria of medium of using for my books as loading into my mobile as audio files and listening to them whenever I find free time has become my habit after finding watching long videos on my laptop is not helping me learning good points.

Books are always friends to human; no doubt about that but practically even in WFH, I am unable to find time for books but learning from youtube and other social media and electronic formats are somehow working for me.

I just recommend newbie traders to look for good youtube channels for leaning trading skills and after that istill f you are still have interest on reading books then go for it. But learning alone will not make you a trader; just practice on demo environment along with learning from books/videos which may help to be professional traders on course of time.

[Hypnosis00]

Wow, thanks for this OP coz I don't have to spend more time searching rather than to directly search for that book. I actually don't have fan reading books but if you are interested in one thing and that to learn more about trading, that really not a tiresome deal.

But anyway, in today's lifestyle, reading books is optional and some were just obsolete as the technology keeps developing. However, we can still get an idea of how early traders find themselves comfortable doing this and able to win that we can also apply to ourselves.

[CaVO32]

Wow, thanks for this OP coz I don't have to spend more time searching rather than to directly search for that book. I actually don't have fan reading books but if you are interested in one thing and that to learn more about trading, that really not a tiresome deal.

But anyway, in today's lifestyle, reading books is optional and some were just obsolete as the technology keeps developing. However, we can still get an idea of how early traders find themselves comfortable doing this and able to win that we can also apply to ourselves.

For me, reading books is still a very helpful one to gain more insights in every aspect that you want to venture with. Yes, actual experience is a must, but somewhere along the way, those helpful tips that you read from these books, will come in handy when you needed it. Technology is in fast pace, but these books will always be an important item to some people. There are some hidden tricks that they will suggest because those authors have their own experience to share it with.

[Hypnosis00]

Wow, thanks for this OP coz I don't have to spend more time searching rather than to directly search for that book. I actually don't have fan reading books but if you are interested in one thing and that to learn more about trading, that really not a tiresome deal.

But anyway, in today's lifestyle, reading books is optional and some were just obsolete as the technology keeps developing. However, we can still get an idea of how early traders find themselves comfortable doing this and able to win that we can also apply to ourselves.

For me, reading books is still a very helpful one to gain more insights in every aspect that you want to venture with. Yes, actual experience is a must, but somewhere along the way, those helpful tips that you read from these books, will come in handy when you needed it. Technology is in fast pace, but these books will always be an important item to some people. There are some hidden tricks that they will suggest because those authors have their own experience to share it with.

Some tips are still in big help but couldn't imagine how it becomes applicable to an advanced technology we have now. We need to upgrade and we need to level up our knowledge using the new technologies surround us.

Well, talking about tricks,
That only to find those tricks if that still works in today's generation. I know that some of them never work. As the market keeps changing its behavior the more likely we have to adapt and change its course then. Make a new trick, that always depends on you.

[trigger1975]

I am just wondering how many of you still having habit of reading books? After e-books, audio libraries and test-to-speech things, I become too lazy to make us of paper books (these days after pandemic, I am afraid of touching daily newspapers and reading only epapers).

Recently I bought some books but I made sure of soft copy CDs are included; I mean along with looking for better authors and publications, I just added another criteria of medium of using for my books as loading into my mobile as audio files and listening to them whenever I find free time has become my habit after finding watching long videos on my laptop is not helping me learning good points.

Why do you think, none of the listed books must be bought in paper and cannot be bought as ebooks or audio books?  I have "read" some of the listed books as audiobooks on Audible (such as One Good Trade or Mastering the Trade) and all others as ebooks.  Dunno when I've bought a paper book last time – must have been 12 years ago or so.

I just recommend newbie traders to look for good youtube channels for leaning trading skills and after that istill f you are still have interest on reading books then go for it. But learning alone will not make you a trader; just practice on demo environment along with learning from books/videos which may help to be professional traders on course of time.

Neither using YouTube nor reading books are exclusive to each other.  Beginners can use both at the same time.  The magic behind the recommended books is not the thing about learning to read charts, learning price action indicators or strategies.  It's more about making and accepting mistakes, importance of discipline, consistency, …

[trigger1975]

But anyway, in today's lifestyle, reading books is optional and some were just obsolete as the technology keeps developing. However, we can still get an idea of how early traders find themselves comfortable doing this and able to win that we can also apply to ourselves.

Even though technology changed, trader's psychology or risk management didn't.  Traders do have to deal with the same type of emotions as generations of traders before.  That's what it's about.

[Wawa2013]

Thank you to the opening post for referring several trading books, because of the COVID-19 pandemic I have to work at home. So I have free time
that I can use to read books, and I have been looking for a good book on trading for a long time. Later I will buy some recommended books, because
in my opinion it is very important to read books on trading. It can make our mindset change and can improve our analytical skills, because reading
a lot of books about trading should make us more able to control emotions when trading too.