Whether you consider yourself a pro or a beginner when it comes to day trading, picking up day trading books won’t hurt. In fact, they can even provide you with more information when it comes to strategy, risks and how to handle them, and technical analysis. In turn, this will make you smarter in executing your actions and turn you into a more successful day trader. If you’re just starting in the business of day trading, it can be quite a challenge to find a book about trading and book retailers can’t really help you… unless they also participate in day trading. Even more so, finding day trading books doesn’t necessarily mean it’s the right one for you. It’s important to consider what you want to get out of the book—successful day trading stories? Strategies? Or a step by step guide?
Lastly, if you’re wondering you can get into day trading or if it is something that you want, reading these books might just give you the answer that you’re looking for.
BEST DAY TRADING BOOKS IN 2022
BEST TRADING BOOKS FOR BEGINNERS
A Beginner’s Guide to Day Trading Online by Toni Turner
As the title suggests, this day trading book is perfect for beginners. It contains clear directions and current information about industry developments. Plus, a detailed overview of risk managements, risky analyses, and a “how-to” on setting up a trading plan are also included. Apart from being a trader herself, Turner is an educator as well so that says quite a lot about the plan and lessons she has established in the book. This is perfect for starters because the book also goes through the basic jargon and even more fit for day traders as it highlights the difference between short and long term trading, its benefits, and risks that you should keep an eye out for. Quizzes and checklists are also included to ensure that you have learned something valuable and that you keep up with the techniques mentioned in the book.
Note that the more recent editions of the day trading books now have the title “A Beginner’s Guide to Short Term Trading”.
Start Day Trading Now: A Quick and Easy Introduction to Making Money While Managing Your Risk by Michael Sincere
If you want to learn about day trading but do not want to feel overwhelmed, this book by Sincere introduces you to the world of trading by starting out on charts and indicators. Once you’ve been familiarized, this experience trader and author talks about how to be practical when it comes to trading. The book mainly focuses on technical analysis and provides money management tips. As a bonus, it is filled with interviews of and stories from experienced traders, sharing with you the lessons they have learned from years of trading.
BEST TRADING BOOKS OF ALL TIME
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
If you are looking for day trading books that is one of Amazon’s best sellers in the stocks, futures, and trading section, this is it. Aziz serves a summary of all the key-points, including strategies and what awaits you, in day trading. Per strategy mentioned in the book, Aziz discusses the actions he performs once he starts trading and how to make the most out if it with the aid of indicators. Beginners and intermediates will find the book beneficial as it is able to talk about trading in a simplified manner and still contain extensive information. After all, the book would not receive as much as 5-star reviews as it did for nothing.
RECOMMENDED: DAY TRADING FOR DUMMIES BY ANN C. LOGUE
What is a book suggestion to anybody about anything they would like to master in without a “For Dummies” suggestion? The book contains a wide range of topic and allows a beginner to gain a broad initial understanding of the trading business. If you’re looking for something that encompasses all topics of trading and provides more background information than teaching moments, this might be the book for you.
Technical Analysis of Financial Markets: A Comprehensive Guide to Trading Methods and Applications by John J. Murphy
Perhaps this is the best, if not one of the best day trading books of all time. What’s the proof? It was written by Murphy in 1999 but is still on Amazon’s top charts! The charts and graphs found in the book are perfect supplements to the technical analysis that the book is teaching its readers. If you’re afraid that you won’t be able to understand the contents, don’t worry, it even teaches you how to read charts and how to navigate through the abundant strategies that exist. Similar to Turner’s book, Murphy’s has quizzes along with the study guides to check for understanding.
Mastering the Trade by John Carter
Many might choose to walk away after finding out that this trading book is 500 pages thick. But don’t be so quick in deciding because this chunky book is one of the few that gives comprehensive information about the psychological side of trading. This is valuable because to gaining profits in trading isn’t just about know what the strategies are. It is also about good trading psychology.
BEST PENNY STOCK TRADING BOOKS
The Complete Penny Stock Course by Jamil Ben Alluch and Timothy Sykes
If you’re looking for the best book on how to earn profit by day trading penny stocks, this is it. Alluch and Sykes, show the ways and tells you why 90% of traders lose money instead of gaining more in the market. The trading book consists of an in-depth information about all things related to trading penny stocks. Not only does the book guide its readers in using advanced techniques but also how to develop your own actual trading strategies that will lead to more gains than losses.
Are Day Traders Successful?
Many seasoned traders made a successful living off their day trading activities. While many of these day traders learned from experience, a beginner can substitute much of this experience by studying books by successful traders.
Which Trading Is Best For Beginners?
Although beginners can start trading with different techniques immediately, it is recommended that beginners start with swing trading. Unlike many other types of day trading, swing trading allows the trader to take their time when performing any analysis or reasearch. Without the time pressure, beginner traders may find themselves finding more success when swing trading.
How Much Money Do You Need To Day Trade?
In the US, in order to make 4 or more day trades in a week, an account balance of $25,000 must be maintained. In order to avoid being hit by a trading block after a loss, it is recommended that a trader keeps a balance of at least $30,000.
Day trading rules vary by country and jurisdiction. When day trading outside the US, it is important to check what the appropriate rules are.
How Do I Get Into Day Trading?
A beginner to day trading should, as stated above, start with an mount of over $30,000. In order to become familiar with the techniques and indicators used by traders who have been successful in the past, it is also recommended to read several of the beginner books listed.
While beginning day trading, it is important to limit risk, especially at first. Most beginner traders aren’t successful at first, so it is important to take every experience as an opportunity to learn and refine your day trading technique and skill.
What Are The Best Day Trading Books?
The 1 Hour Trade: Make Money With One Simple Strategy, One Hour Daily by Brian Anderson
This highly rated trading book by experienced trader Brian Anderson contains all the mistakes and the valuable lessons he has learned in his field. Anderson helps his readers avoid the same mistakes by teaching how to establish a short term investment trading system in a concise manner, keeping his methods simple, to ultimately lead to a big profit gain.
The 30-Minute Stock Trader by Laurens Bensdrop
Not everyone enjoys the high intensity stress that usually comes along with trading. Fortunately, Bensdrop came up with this book that contains instructions on how to make your own stock trading strategy. What makes it different from everyone else’s? It’s automated. The book makes a case about why the classic investment approaches are starting to fail, and that automated trading actually works. His innovative technique is presented with proven strategies, complete with numbers and entry points. Because speed is vital in trading, Bensdrop shares with his readers the step-by-step process of creating your own automated and profitable trading strategy.
Is Day Trading Illegal?
Day trading is completely legal in the US, as long as you comply with FINRA regulation. Day trading is, however, risky.
How Do Beginners Invest In Stocks With Little Money?
When investing with smaller amounts of money, it is very hard to be profitable trading at a high frequency.
Swing trading is a great place to start. Swing trading is more beginner friendly and also is not subject to the $25,000 minimum balance requirement as long as the trader doesn’t make 4 or more trades in a week.