List of 5 Best Day Trading Books That Are a Must Read
Investing in day trading books for beginners is very important to do if you’re just getting started as a day trader, so we’ve provided you a list of the best day trading books. Popular books such as The Disciplined Trader, The Candlesticks Course, Momentum, Direction, and Divergence, Japanese Candlestick Charting Techniques, and The One Thing have helped many traders. It doesn’t matter what level of trading skill you have developed. We are all students of the market. Forever!
A beginner, intermediate or master trader is going to tell you the same thing; knowledge is power. And applied knowledge is freedom. Any amount of information that you can absorb that will give you an edge is as good as gold when it comes to trading stocks, options or futures.
Best Stock Market Books by Trading Niche (Click Below to Get List)
What Is the Best Book on Day Trading? (List of Top 5)
- The Disciplined Trader by Mark Douglas
- The Candlesticks Course by Steve Nison
- Momentum, Direction, and Divergence by William Blau
- Japanese Candlestick Charting Techniques by Steve Nison
- The One Thing by Gary Keller
Looking for the best day trading books? We were too, so we bought and read just about every book we could get our hands on. Luckily we like to read, and we’re guessing you do too. It wasn’t easy, but we narrowed down some of the top books on day trading in our list below. It doesn’t have to be glamorous or exciting. It just has to make you money. Hence the enormous demand for the best day trading books that will actually help you trade like a pro.
Now actual good day trading books are filled with applicable knowledge. This is a very different thing than trading advice from Twitter or your neighbor. These are the top books and most coveted by our trading community.
There are a thousand different articles on the best day trading books. This one is going to be a little bit different because we have a mix of timeless classics and fresh titles that are most relevant to trading 2019.
You may recognize a few of the names of these books below. Indeed, we’ve tried to include a few books that are more up-to-date on today’s trading styles. Check out our stock market books page for a list of trading books and swing trading books that we recommend.
Speaking of information after reading, check out our day trading course for stock market training. Right now we give all our courses away for free. You’re welcome 🙂
Day Trading Books to Become Disciplined
Trading in the stock market is tedious for your mind. Anyone that’s been in the market for a while can tell you that it’s as much a psychological game as it is a numbers game.
Mark Douglas has been a writer and industry psychologist for very long time and has written one of my favorite books on day trading stocks.
If I had to rate it, I’d say that this book is 80% psychology and 20% fundamental and technical analysis. If you’re not reading at least ONE book on psychology and trading, you’re going to struggle with trading. I’m sorry but its true.
The Disciplined Trader: One of the Best and Most Popular Day Trading Books
If you have ever read Trading in the Zone then you may recognize his name. A couple of the takeaways from The Disciplined Trader are that traders need to understand how their emotions will affect their trading decisions. When getting into a trade take direction from the market, not from your hopes or fears.
Also a major takeaway is that there is no right or wrong in the market, there’s just the market. Both books by Mark are both really popular day trading books because they address our humanity, our psyche and will give you a mindset edge when trading. When you understand the way our minds work, you can become more robotic with your trading, and thus, much more successful.
The Candlestick Course by Steve Nison
A great book written by Steve Nelson is The Candlesticks Course. This book covers the application of candlestick charting and the varying complexities.
It also contains a few Q and A’s and simple quizzes just to make sure that you’ve really gathered the information. This book will help you learn arguably one of the most important parts of trading, candlestick patterns.
When I was a newbie, I did not know patterns. I made a lot of mistakes. Not knowing patterns can have you entering when you should be sitting on the side line, waiting for a better entry until the pattern does it’s thing.
This may sound like a lot, however, this book is actually a pretty easy read. If you study this book then you’ll understand what haramis, bull flags, bear flags, ascending triangles, haramis, spinning tops and doji’s are.
All levels of traders will find value in this book. It doesn’t matter if you are beginning or you have been in the market for a while, this is more than just the basics of candlesticks. First published in 2003 it is well up to date and current for trading and investing in stocks.
Momentum, Direction, and Divergence: One of the Best Day Trading Books on Trading Concepts
The name of this book, Momentum, Direction and Divergence, alludes to three very common terms used in everyday trading. Technical wizard William Blau gives financial investors a great overview of all three. Which I found a great combination because all these things mesh very well together.
The author uses mathematics combined with financial information and eye opening graphics to deliver trading concepts. He also helps to shed some light on the limitations of these strategies and helpful uses of many notable technical indicators for day trading.
All in all people that are either curious about how technical indicators work or those well-versed will learn a thing or two. An outstanding guide and teaching tool to some of the newest indicators and their applications.
Japanese Candlestick Charting Techniques
This is a great overview of Japanese Candlestick patterns and charting. Steve Nison is a wizard when it comes to technical analysis and I absolutely needed to study his material more.
For those that have heard about Japanese Candlestick Charting Techniques, this book will help you understand them further. This book also helps you to find out if they will work with your trading style and open your eyes to a new form of technical analysis.
Amateurs will find out how effective Japanese candlestick charts are as a standalone charting method. One of my favorite ways to trade is with just price action and candlesticks and of course volume. This book helped me immensely in finding
The book has hundreds of examples showing how candlestick charting can be used in any Market. Seasoned Market enthusiasts will enjoy enhancing other technical tools with Japanese candlesticks.
The One Thing
No lie, this book changed my life! I was never the type of person who could focus on one thing. Somehow I thought in one year, I could move 5,000 kilometres across the country, start an online e-commerce business, blog, trade, start a new job and buy two houses. Lofty aspirations, I know, but I wasn’t able to finish anything, leaving me frustrated.
I think it was the beginning of 2019. I bought this book, and everything got clear. I sat down and thought about what would be my one thing – it was trading – and got down to it. We are now at the beginning of 2021, and I’ve finally nailed it by tackling one thing at a time! I’m making profits trading, bought that second house, my e-commerce business is brewing, and I’m enjoying blogging. I know where I am going, I know what my one thing is, and I know what I need to do next. I feel totally liberated from the agony of this sometimes reckless creative mind!!
The detriment of too many new and even professional traders is what is known as analysis paralysis. This can be due to analyzing too much information and even multiple outside distractions. The One Thing by Gary Keller helps you to identify these distractions and resolve them in a positive manner.
You want more productivity from your trades and charting. You want a better sense of satisfaction from all of your hard work. The main thing you want, more time for yourself to enjoy doing the other things in life.
This book is going to help you understand how to trim the fat so to speak and dial down the stress. Help you build momentum and to have a better work life and a better life in general.
You can easily apply the principles to day trading. Which is why I would highly recommend this book to anyone that is stuck in that rut or has a fading spark that needs a new light. It’s definitely one of the popular books to add to your bag.
Bottom Line on Day Trading Books
Day trading books are tools to help us grow as traders. No matter how long you’ve been trading, it’s important to keep learning and keep refreshing what you’ve learned.