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Best Day Trading Books

A thorough understanding of day trading can help save you from costly errors and build your confidence. There are several great books available to assist novice or experienced traders hone their craft and better analyze stocks for better returns. These books share a wealth of information to get you started or perfect your day trading strategy, but remember, there is no better teacher than experience.

Quick Look: The Best Day Trading Books

For Beginners
For Expanding Strategy and Charting
For Trading Psychology

The Best Books for Beginner Day Traders

As a new trader, look for books that spell out basic trading and analysis concepts, teach chart reading, and set expectations.

1. 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

How to Day Trade for a Living Book
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This widely recommended book is the number one seller on Amazon in the stocks, futures, and online trading categories. How to Day Trade for a Living gives an overview of the fundamentals of day trading, strategies and what to expect when you start trading.

The book offers an in-depth discussion of strategies such as ABCD pattern trading, bull flag momentum trading, top, and bottom reversal trading, moving average trend trading, VWAP trading, and support and resistance trading. The book combines a simplified approach and deep understanding to prep any novice for a future in day trading.

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2. Technical Analysis of Financial Markets: A Comprehensive Guide to Trading Methods and Applications by John J. Murphy

Technical Analysis of Financial Markets book
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This landmark bestseller was written in 1999 but is still a top seller on Amazon. It should be required reading for any novice investor. This easy-to-comprehend reference guide goes deep into technical analysis and trading theory and includes charts and graphs to illustrate its points.

Technical Analysis of Financial Markets teaches you how to read charts and the importance of technical analysis, and covers candlestick charting, inter-market relationships, and stock rotation. The author offers a study guide which includes quizzes to help you understand and digest the information.

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3. A Beginner's Guide to Day Trading Online by Toni Turner

A beginner's guide to day trading online book
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This accessible, easy-to-read best-seller will teach you how to make money day trading. It will teach you the basics you need to know to master the market, including decimalization of stock prices, precision entries and exits and reviews different trading products including E-minis and exchange traded funds (ETFs).

In A Beginner’s Guide to Day Trading Online, Toni Turner shares her day trading experiences and offers straightforward guidance and direction. This book gives you the confidence to navigate the nuances of the trading world.

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Books for Expanding Your Understanding of Strategy and Charting

Once you’re comfortable with the basics of day trading and ready to move from paper trades to make real money, check out these in-depth trading strategy and charting guides.

1. Japanese Candlestick Charting Techniques: A Contemporary Guide to the Ancient Investment Techniques of the Far East by Steve Nison

Japanese Candlestick Charting Techniques book
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This classic offers page after page of practical candlestick charting techniques and shows how they can be applied to almost any market and combined with other technical analysis techniques.

Steve Nison, the author of Japanese Candlestick Charting Techniques: A Contemporary Guide, is one of the foremost technical analysts in the world and introduced the Japanese candlestick technique to the western world.

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2. Technical Analysis Explained, Fifth Edition: The Successful Investor's Guide to Spotting Investment Trends and Turning Points by Martin J. Pring

Technical Analysis Explained book
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The bible of technical analysis, this book is on its fifth edition since the original published 30 years ago.

Pring’s straight talk blends theory with technique and offers strategies for future profits in Technical Analysis Explained. The book offers a practical step-by-step guide to incorporating technical analysis into your trading strategy for portfolio growth.

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3. The Simple Strategy: A Powerful Day Trading Strategy for Trading Futures, Stocks, ETFs and Forex by Markus Heitkoetter

The Simple Strategy book
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Heitkoetter boasts that he can teach you a powerful day trading strategy in 60 minutes and after just 88 pages. This easy, straightforward read outlines the author’s strategy of clear entry and exit rules and shows you how to take advantage of small intraday trends.

The Simple Strategy assumes you have a working knowledge of charting and outlines strategies.

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Books on Trading Psychology

Your knowledge of charts and analytic techniques can shipwreck you if you don’t have the right mindset. It’s important to gain confidence and understanding of the psychology behind successful day trading.

1. The Mental Strategies of Top Traders: The Psychological Determinants of Trading Success by Ari Kiev

The Mental Strategies of Top Traders Book
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This careful analysis of the characteristics of successful traders dives deep into the sometimes-contradictory traits of their willingness to take on risk in a very tight and controlled manner.

The Mental Strategies of Top Traders shows how you can cultivate those same characteristics. Kiev draws on the success of other trading professionals, many of whom survived the 2008 downturn.

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2. Trading In The Zone: Master the Market with Confidence, Discipline, and a Winning Attitude by Mark Douglas

Trading in the Zone book
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Douglas is a master of trade psychology. He dives into the mental habits that hold traders back and causes them to lose money in Trading in the Zone.

He exposes the myths of the markets, teaches traders to look beyond random outcomes, and understand the realities of risk. No amount of understanding of charts will teach you the psychology to be a successful trader, but this book does.

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3. Reminiscences of a Stock Operator by Edwin Lefevre

Reminiscences of a Stock Operator book
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For a different approach to day trading psychology, this narrative account of the life of one of the most successful traders in U.S. history, Jesse Livermore, provides valuable lessons on trade psychology. Originally published in 1923, Reminiscence of a Stock Operator is now a must-read classic.

Livermore examines the psychology behind trading and mastering the art of risk-taking, obsession with speculation, and the private downfall of a man who was so successful in the markets. This book provides powerful lessons for today’s day traders.

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Kindle edition: Buy it now
Paperback edition: Buy it now
Audiobook edition: Buy it now
Audio CD edition: Buy it now

 

 

 

Final Thoughts

You never want to go out and navigate the day trading waters without a good guide and these books will help you set and chart your course. Then get out there and let your experience help you gain the right knowledge and mindset for success.

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