Weekly trading books provide a lot of information on strategy, risk management, psychology and technical analysis. Unfortunately, librarians and booksellers are not day traders. This makes finding the best books a bit of a challenge. Fortunately, this page has compiled the best books for beginners, the best books for a particular asset, and detailed how each format best suits your individual needs.

 

 

Best Ebooks for Day Traders

ETX eBook Library

ETX Capital offers an extensive library of e-books for traders to use. From technical analysis to global trends, there are ebooks to help you trade forex, commodities or stocks. All resources are free and worth using.

Day Trading Book for Beginners

If you decide to trade on the plunge, you will quickly learn how to get complex strategies, charts, patterns, platforms and commissions. That’s all the more reason to run on the ground, taking advantage of the resources around you. The best books for beginners keep it simple and provide step-by-step guides on how to pick stocks, implement strategies, and manage capital and risk.

Here are the 3 best books for beginners.

1. Online Trading for Beginners, Toni Turner Beginner’s Guide

Written by traders and educators, this book provides clear direction and stays up-to-date on industry developments. It provides a detailed overview of risk management, technical analysis and how to set up a trading plan. The latest edition has been renamed “Short Trading as a Beginner’s Guide ”

This book is a fantastic learning tool as it is full of quizzes and checklists. The authors also go through all the basic jargon and somehow keep you engaged. It is especially good for day traders because it separates short-term and long-term trading, benefits, risks, and concepts to focus on.

2. Start Trading the Day: A Quick and Easy Introduction to Making Money While Managing Risk, Sincerely, Sincerely

Written from the perspective of skilled trading, this book focuses on technical analysis and provides valuable money management lessons. Initially focus on charts, patterns and indicators. We then walk you through the practicalities of your first trade.

Also, since you can benefit from hearing interviews with experienced traders, hopefully you can avoid the pitfalls they fall into. Plus, at less than 200 pages, this book is an easy read for aspiring traders.

3. Daily Deals for Dolls, Ann C Logs

Although the author is not a trader, the range of books covering a wide range of topics is ideal for those seeking a broad initial understanding. This book is not a guide and information on the subject that is traded every day under the sun. You won’t get into the details, but you shouldn’t get lost. All of this makes it one of the best trading books for beginners.

If you had to answer ‘what are the best books for beginners’, all of the above texts are at the top of the list. They give you the platform you need to start with, as well as a place to find answers as you go.

A good trading day for beginners is simple. We guide you through the entire process, from stock and strategy selection to psychology and risk management.

Best books

For those looking for a more detailed book offering in-depth technical analysis, advanced strategies, and comprehensive information on all day trading, there are several books out there.

Below, we’ve rounded up the top 10 books for review, ease of use, and comprehensiveness.

This book focuses on the concept of only taking trades when the odds are in your favor, so it explores how to set up trades and what to look out for to know exactly what to trade and how much.

The authors claim years of successful experience in the market and benefit from a trial-and-error approach to avoid future mistakes. It’s well-written and well put together to the point, making it worthy of a spot on this list.

2. The Truth About Day Trading Stocks, Josh DiPetrio

While many books sing about potential wealth, Josh DiPetrio stresses that day trading is not a get-rich-quick scheme. His writing is easy to follow, and he can tell you that you genuinely want to know your risks and advise you on how to manage them.

There are some essential lessons to be gleaned from this book and from the first chapter to the last you have a solid feeling that you are getting the truth.

3. Mastering the Trade, John Carter

This is one of the best books because it has detailed instructions on how to set up trades. He left no stone unturned as he took down numerous strategies and other markets. It is also well established as one of the psychology books.

If you’re looking for a clear guide to what, how, why, when, where, and where to go, this is the book you need. It is also considered one of the best emini books and requires real examples to prove a point.

4 . Day Trading and Swing Trading Trading Markets: Techniques and Basic Strategies to Profit from Market Movements, by Kathy Lien

With one of the best-selling day trading books, you can benefit from the experience of one of the most respected analysts in the forex world. If you haven’t seen her on Bloomberg or her CNN, you’ll enjoy her on point style.

Gain insight into accurate market analysis and the author’s solid source of trading ideas. If you are looking for one of the best forex books, look no further.

 

 

5. The Disciplined Trader: Developing a Winning Stance, Mark Douglas

Good books focus on technical analysis, strategy, and risk management, but don’t focus on the intricacies of trading psychology. As aptly emphasized in this book, you may have all the best strategies in the world, but without discipline you will work to turn a profit.

This book explains why not giving in to your emotions is harder than it sounds and offers many tips for staying calm and getting into the right headspace. You can also document your trading performance and get advice on how to minimize your risk.

6. Digital Day Trading, Howard Abel

It doesn’t make the top 5 books, but this one is worth a look. If you’re looking for an easy-to-understand book that won’t waste words, this is a smart choice. The author explores his own trading psychology with a focus on market philosophy. Also, 3 interviews with successful day traders give you useful tips.

The only thing to point out is that this book was written during the high volatility of the dot-com era, so some of the information is out of date.

7. Stock Trader: How to Make Live Trading Stocks, Tony Oz

If you want a strategy that you can take from a book and apply easily, this is a good option. There are several detailed strategies that cover start and end points, which charts to use, which patterns to identify, and many other indicators.

The book receives glowing reviews and is written in an engaging manner to appeal to a wide audience. No wonder it is considered to be out there with the best trading books out there.

8. Range Trading, Michael Young

If you’re looking for specific, honed strategies, this book deserves your attention. This book explains why most strategies like scalping struggle to overcome high daily costs and fees. We then offer a tried and tested alternative known as ‘Range Trading’.

The system is a self-curated step-by-step guide that takes a complex system and is easy to follow. If you are looking for high level details and alternatives, you can see why this is one of the best trading days.

9. A simple strategy, Markus Heitkotter

If you are looking for a widely known forex and options book, we will not disappoint you. The book’s success comes from its clear guidance on entry and exit rules, how to take advantage of small intraday trends, and advice on what software you don’t need.

Also, it’s written so you don’t have to be a rocket scientist to get over it. The author also keeps it lighthearted and engaging making it a must read trading book.

10. Day Trading Grain Futures: A Real Trading Guide For A Living, by David Bennett

If you’re looking for a specific gift book, this might be worth a look. No mining words, just one page of practical advice on how to trade futures effectively.

First, you’ll hear why the author prefers day trading and why grain futures are specifically sold. Then you will get a clear strategy that does not rely on highly technical and complicated indicators based on timeless trading concepts. Additionally, the philosophies and strategies found here can be applied to multi-day markets.

“Day Trading Grain Futures: A Practical Guide to Trading a Livelihood” by Google Books

Live webinars and trader courses

ETX Capital is currently offering traders a range of educational tools. They offer free registration to all traders who have made a deposit of any size. See here for details.

Courses are delivered by ETX’s in-house experts and independent trading firms. This guarantees round-the-clock service for those who have registered. Most courses and webinars are offered online.

Alternative formats

Thanks to amazing technology, you can now get day-deal audiobooks and e-books. Audiobooks are ideal for listening while driving or when you want to block the treadmill or noisy children. You can also take notes while you listen to information on your platform or apply it in real time.

You can also get the book as a PDF by downloading it for free. Just like e-books, having them open in a separate window while you trade makes it easy to follow the instructions and put into practice what you are reading. Others are available for quick reference with a single mouse click.

Trading log

This popular trading day is a very useful tool that many people may overlook. They allow you to keep detailed records of all your transactions. You can then double check when looking for patterns or if you want to backtest a potential strategy. Things to note are:

  • Date of entry
  • Stock symbol
  • Entrance fee
  • Total purchase price (including fees)
  • Number of shares purchased
  • Initial Stop Loss
  • Profit target
  • Exit price
  • Total sale price (including commission)
  • Profit/Loss (Total Sales – Total Buys)
  • Profit/Loss % ({Total Sales – Total Buys} -1)

Trading orders

These serve a different purpose than the best-selling trading books described above. An order book is an electronic list of purchase and sale orders for the specific security or equipment ordered, organized by price. You can see whether brokerages buying and selling stocks and whether institutional or retail investors are pushing the market.

This allows you to make informed and accurate decisions. It also indicates order imbalance, which is useful because it provides information about asset direction in the short term. For example, if there is a significant imbalance in purchase orders, the buying pressure may cause the asset to move more.

Different markets, different texts

If you want daily trading books for the UK, Europe, US and Canada, all of the books above are relevant and applicable to markets close to home. However, if you want to research a market on the other side of the world, you can find books tailored to your region.

For example, if you are going to enter the Indian stock market, you will want a book on daily trading in India. One of the best books on day trading written by Indian authors is Ankit Gala & This is ‘Intraday Trading Ki Pechan ‘ by Jitendra Gala. Alternatively, ‘How to Make Money with Charts’ by Ashwani Gujral also scored highly in recent trading book reviews.

If you have an Australian slant and want a book written by an Australian author, you might want to look at Peter J. August’s Why Gold Matters ‘. Nick Radge’s ‘Adaptive Analysis of Australian Equities’ is also highly rated.

Last chapter

Finding books online is usually relatively easy, but finding one that fits your needs isn’t always easy. Before you buy, consider exactly what you want to learn. Are you looking for a strategy book, forex, psychology, or book for beginners? Do you want a step-by-step guide or just want to hear stories and advice from successful traders?

Once you know the information, decide which format, hardback, e-book, pdf or audiobook you can easily summarize and apply the information. It’s also always a good idea to check the reviews for the ‘top deal books’ you want. You can get exactly what you want.