As a day trader, you should be a student of the markets, reading books is the easiest way to start. Never stop learning from others, because the market is always evolving. Read other people’s stories so you can avoid making the same mistakes that have already been made.
Mistakes in the market are costly, after all. Don’t worry you’ll still make plenty. But every mistake you can avoid will save you money and shorten your learning curve, on your way to financial independence.
Even the richest and most successful people in the world continue to read.
Here’s a shortlist of a few books that I have personally read that I believe would provide significant value to new traders. If you’re unsure of your first step in the market, pick up a book, and read.
Best Book for Starting Out
In order to get an understanding of the basics to start with this one. A basic explanation of support, resistance, sectors, and lots of other essential knowledge new traders must have.
A Beginner’s Guide to Day Trading Online by Toni Turner
The Best Story
Perhaps the best stock trader of all times Jesse Livermore lived in the early 20th century and started at the age of 15 at the local bucket shops. Livermore made and lost millions over the course of his career.
I’ve heard countless professional traders praise this book, and it is a must-read for anyone who plans on trading seriously. I could hardly put it down once I picked it up. The book is well written and very entertaining.
Reminiscences of a Stock Operator by Edwin Lefevre
Learn From the Experts
Coming into the market we’re all looking for THE way to make money. After reading interviews with dozens of people who have carved fortunes out of the market, I realized there’s a lot of different ways to make money in the market.
What I did find most interesting were the things each wizard had in common with each other, despite having a wide range of trading and investing styles. There’s a whole series to read but I recommend you start with the original.
Market Wizards: Interviews with Top Traders by Jack D. Schwager
Don’t Stop Reading
You should never stop learning as long as you’re involved in the market. Read constantly! If you want to learn more about day trading stop by my stream one day and see what day trading looks like in action.
If you need more recommendations send me a note on Twitter. I’m always reading something.