5 Great Books on Day Trading - Bulls on Wall Street

5 Great Books on Day Trading

5 Great Books on Day Trading
Ask any veteran trader and they’ll tell you: knowledge is power. Making it in the market means understanding the ups and downs before life teaches you a lesson. Learn from the experience of others and build your personal wealth with these five books, covering everything from market analysis, to advanced technique, to the psychology of success.

Stan Weinstein’s Secrets for Profiting in Bull and Bear Markets

Leading off our selections is an old standby of any day trading library. Stan Weinstein’s arduously titled tome is an examination of the four phases of stock movements, laying a fundamental groundwork for advanced analysis that can help any trader make sense of the jagged graphs that grace CNBC. The book also contains additional sections on short-selling, refining your buying process, and finding optimum entry points to help take your trading game to the next level. Backed by glowing reviews from myriad audiences, Weinstein’s work remains relevant to this day.

A Beginner’s Guide to Day Trading Online by Toni Turner

Getting started in the market can be a rough road, which is why a map of the terrain is such a valuable resource. From the first page, Turner’s work is a crash course in modern trading, encompassing new online trading systems, modern trading products, and precision entry and exit points. Lauded by traders both new and old as a compass for beginning traders, A Beginner’s Guide will supplement your formal trading and make you profitable sooner.

Hit and Run Trading by Jeff Cooper

This is probably my favorite book in terms of actionable advice. Its super old and so some of it wont make sense but its all still applicable. Some of the setups I use are an offshoot of the ones that Jeff Talks about in his book like the 1-2-3-4 setup.

Daily Trading Coach by Dr. Steenbarger

 

This is the book that will make the most impact in your trading once you get started. Its a 100 lessons on trading psychology and different things that you will go through when your trading real money.  Trading is only 5% method. For the most part everyone will be able to learn some tenets of a trading system.  Even ones with a complete education will still have trouble making money as there is a huge disconnect from the knowledge you have and being able to apply it when the lights are on and its gametime. Once the market is live often traders throw everything out the window that they know is right. Its literally like you cant get your hands to do what your mind is telling tell you. This book dives into different aspects on how to trade your mind to and become your own trading psychologist.  This book was one of the reasons we employed our own trading psychologist Dr. Andrew Menaker to help teach our bootcamp so we can dig into the mental game just as much as we talk about chart patterns.

The Disciplined Trader: Developing Winning Attitudes by Mark Douglas

Rounding out our selections is arguably the most important tool in any trader’s kit. In a career where keeping a steady head means keeping your money, Developing Winning Attitudes teaches critical lessons in the development of a sound mindset. By examining the psychological faults of failed investors and the shortcomings that held back the unsuccessful, Douglas’ work allows new and old traders alike to recognize their own mental pratfalls and correct the course toward profit.

A successful trader values constant education, especially when they know that it can lead to higher returns. With the five volumes listed here, traders of all experience levels can improve their strategy, hone their craft, and build their wealth in the process. Not bad for five short books.

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