What You Should Know About Day Trading Books

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  • 11 Mar 2023

Day trading is more sensitive to market movements than regular trading. However, having a good knowledge of the fundamentals can bring positive results.

Beginners should not depend wholly on their own strategies when starting out with day trading. Rather, they should focus on learning the basic trading strategies. Day trading books are particularly helpful for those who are just starting out. Experts can also benefit from the advice given in these books. Day trading books tell you about the essentials. You get to learn how different tactics are used. They also inform you about the pitfalls to avoid.

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1. A Beginner’s Guide to Day Trading Online, Toni Turner

The author is a trader and an educator. In this book, he points out the difference between the short and long term, and offers a clear direction for readers. From setting up a trading plan to managing the risk factor, this book covers almost everything.

Turner’s book covers the basics, which is helpful for newcomers. This makes it one of the best day trading books to add to your library.

2. Start Day Trading Now: A Quick and Easy Introduction to Making Money While Managing Your Risk, Michael Sincere

This famous book offers some priceless money management lessons. It covers technical analysis with charts, patterns, and indicators. Slowly, it brings you to the main point: making your first trade. It provides a systematic guide to day trading.

As a bonus, it includes interviews of professional traders, written in the form of advice.

3. How to Day Trade for a Living: A Beginner’s Guide to Trading Tools and Tactics, Money Management, Discipline and Trading Psychology, Andrew Aziz

The author begins by telling his own trading story. In the early days of trading, he earned some money but soon lost it. His lack of knowledge in this field led to this misfortune. This tale encourages readers to be alert and well informed about day trading.

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1. Mastering the Trade, John Carter

As an active trader by profession, John Carter is one of the best guides available. He shares from personal experience how people fall into psychological traps while trading. This invaluable book offers detailed instructions. They range from setting up trades to countless strategies and more. The book also offers ideas and examples of trading plans. You will also get insights into the author’s own trading experience.

2. High Probability Trading: Take the Steps to Become a Successful Trader, Marcel Link

This book by Link is a real boon for day trading. The highlight of this book is a critical concept: trade when the winning probability is high. The author answers many questions like when you should trade, what is best to trade, and how much to trade. The book provides tried and tested strategies that day traders can implement.

3. Day Trading and Swing Trading the Currency Market: Technical and Fundamental Strategies to Profit from Market moves, Kathy Lien

The author, Lien, is one of the finest analysts in the forex world. You can get a hint of her to-the-point communication style on Bloomberg and CNN. Her accurate market analysis and rock-hard trade ideas make this book a bestseller. Anyone looking for the best forex books can definitely pick this up.

This was a list of some of the top day trading books. What secures them a place in this list is their simplicity in writing, precise direction, and accessibility.

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The above-mentioned books are helpful for any market. But there are also day trading books that are specific to the Indian market. You could check out Intraday Trading Ki Pehchan by Ankit Gala and Jitendra Gala. Also, How to Make Money Trading with Charts by Ashwani Gujral has got some good reviews.

Book Alternatives

Nowadays, it is possible to get audiobooks and eBooks as well. Audiobooks are a great option if you prefer listening to reading. However, book lovers can enjoy the real essence of a book, thanks to eBooks. These convenient alternatives allow you to master day trading through your favoured way of learning.

Increasing your theoretical knowledge about day trading is just the first step. It is important to get some practice as well. You could start by opening a demat account. Hold on to your favourite day trading books as you take the plunge into day trading.

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