The best books for Day Trading continue to be the most valuable resources available for any trader to learn about an investment strategy. Thanks to these books, you can learn through the words of authors who have accumulated some great experience in their field. They openly share their techniques on how to use their strategy successfully, as well as some of the secrets and wisdom that can only be found through actual experience.
Nowadays we have numerous alternatives to learn about any discipline or subject. However, books still offer the advantage of receiving the words of experts without intermediaries and also the advantage of dealing with a topic in depth and detail. In contrast, other sources such as texts or videos on social networks don’t always foster a deep understanding of a topic in the same way.
When preparing for short-term investments in the futures market, it is important that you make a good selection of the best books for Day Trading. With that being the case, below we’d like to share with you our list of recommendations!
Mind Over Markets: Power Trading with Market Generated Information
This is a reprint of a classic for every trader, written by J. Dalton, E.T. Jones and R.B. Dalton. Since its first edition, it is considered one of the best approaches to trading from the analysis of the dynamics and structure of the different financial markets.
Given that the markets are constantly evolving and have changed a lot since the first edition of this book in 1999, this instant classic has been updated to continue to take its place as one of the best books for Day Trading.
It may be necessary to read Dalton's first book, Markets in Profile, to get the most out of this in-depth analysis, which provides a solid and relevant breakdown with a more holistic view on technical analysis of financial markets. However, the authors explain each notion in detail, so it is also possible to understand it without having read the earlier one.
This book provides traders with a unique and practically developed method for interpreting market behavior and identifying investment opportunities from that perspective.
This is one of the best books for Day Trading because it is written by a leading educator and authority on technical analysis and Market Profile. In this way, it offers information corroborated by experts on one of the most popular techniques for Day Trading.
This book will teach you how to learn about market dynamics through the organization of price, time and volume by being able to record information about price fluctuations. Most importantly, it is about learning to fuel one's intuition with this information.
In this way, you can access an intuition bounded by accurate, analytical knowledge, which allows you to make quick but informed decisions, from reason and not from emotion, ideal for any day trader.
The New Market Wizards
This book by Schwager is part of a trilogy that includes interviews with some of the most successful investors in America. In this way, it is possible to give a face to the different strategies followed to trade, and to learn, in the words of different experts, some of the best tips to implement them with favorable results.
In this way, as readers, we can see how different personalities relate to the strategies followed for investing. This can be very useful to identify the types of personalities and investors that are most similar to us, and therefore can serve as role models, at least in some characteristics.
J. Schwager is a recognized expert in the futures and hedge fund industry and the author of several widely acclaimed financial books. Thanks to his knowledge, he is able to ask the right questions to his interviewees, to answer those questions that all traders want to know.
This is one of the best books for Day Trading because of the high level of its interviewees, who, although they are not so famous in general, are an elite trading team that makes huge money movements in the market, some of them earning millions.
In addition, the different voices that make up this book not only serve as motivation to persist in trading thanks to their success stories, but they can also teach us from their mistakes. In this way, they give us information about their method of trading, but also about the right mentality to carry out this activity.
Technical Analysis of the Financial Markets
This bestseller by J. J. Murphy was updated to cover new advances in technology and includes new material on candlestick charting, intermarket relationships and several examples that help illustrate some of the concepts developed.
Although it was updated, it is still a book that is several years old, so it may be outdated in some dynamics and tools. However, Murphy's excellent explanatory skills make it worth reading.
John J. Murphy is a former technical analyst for CNBC and head of Merrill Lynch's Futures Technical Analysis Division. His experience as a trader allows him to explain the fundamentals of technical analysis from a unique perspective and review all the most prominent methods in one of the best books for Day Trading.
Technical analysis is a craft (or even an art, as Murphy says) that requires judgment, experience and common sense. After reading this book, you will be able to start charting, that is, to apply technical analysis immediately, until you develop the way that is most practical and useful for you.
This book, in our opinion, is one of the best books for Day Trading because it will make you less naive about how the market works, something that can prevent mistakes and spare you losses, and will inspire you to be more technical when trading in any financial market.
All of this is accompanied by illustrative examples, with a pleasant and easy-to-read text, which will make you fall in love with trading once again.
Trading Psychology 2.0: From Best Practices to Best Processes
In this 2015 book, B. Steenbarger gives us a practical look at the psychology behind trading that can be applied to the operations of any trader today. It is not a book specifically for day trading, but it is highly recommended for anyone who is serious about improving their financial results and their life in general.
It is one of the best books for Day Trading because it was written by an acclaimed trading psychologist and bestselling author, who chose to approach it as a guide that allows anyone to apply psychology to the art of trading.
In this way, the book offers readers the possibility of applying the basics of positive psychology to trading and other aspects of life. In addition, it is supported by academic studies presented in an accessible and easy-to-read manner, with examples, illustrations and case studies that give context to the techniques explained.
Throughout the text, Steenbarger's own experience is complemented by the insights of other traders and experts in the field, many of whom are dedicated to writing books and blogs about trading.
At the same time, the psychological perspective is approached in a practical way, as it offers the viewpoint of experienced traders who apply the techniques developed in the book on a daily basis, while guiding the reader to put them into play at different stages, such as when analyzing the markets, for example.
A great lesson from this book is that, although market dynamics vary widely, humans always have the same tendencies in the way they act. By understanding these, it is possible to comprehend how human behavior guides the behavior of markets.
This was our list of recommendations of the best books for Day Trading. Remember that study and research is a fundamental part of every trader's career. And once you feel ready, you can put that knowledge to the test at Uprofit, with our evaluation programs, which offer transparent and fair conditions for all traders.