A Good Day Trading Book

[youngsequan 10]

Hello,

 

Can anyone suggest a good day trading book.

 

I'm still a novice to trading, so noting to technical

 

I just read 'A beginners guide to Day Trading Online', and I enjoyed it

 

I want it to be on stocks, not futures or forex

 

I'm looking for a book with lots of examples, and teaches real strategies that I can use to make money

 

I'm thinking about buy 'Trade your way yo financial freedom', but I'm not sure if it is on Day Trading

 

Any help would be greatly appreciated

 

Thanks in advance

[Moon Unit DS 10]

Try 'High Probability Trading' by Marcel Link. One of the few books written from a local's perspective. Not sure it's going to give you a list of trade setups you can simply follow, but will definitely give you a few ideas.

 

'Trade Your Way To Financial Freedom' is a decent book though. Quite dense but has some good info and will definitely give you some ideas and methods to try out.

[TheDude 10]

I wouldn't bother with any 'technique' books. What you need to reed is Enhancing Trader Performance by Brett Steenbarger. Thats all you need book wise.

 

However if you do really want a few techniques/methods to start you off, get them free off the internet.

 

Screen time is where you learn. You cant learn to trade from reading a book, just like a great chef never really learnt much from cookery books.

[DaKine 10]

Try this

http://www.traderslaboratory.com/forums/131/wyckoff-resources-3866-4.html#post86783

 

and for more go here

The Wyckoff Forum - Traders Laboratory - Professional Traders Community

[HighStakes 10]

I wouldn't bother with any 'technique' books. What you need to reed is Enhancing Trader Performance by Brett Steenbarger. Thats all you need book wise.

 

However if you do really want a few techniques/methods to start you off, get them free off the internet.

 

Screen time is where you learn. You cant learn to trade from reading a book, just like a great chef never really learnt much from cookery books.

 

With all respect, I disagree with this statement.

 

I have a hard time believing that a neophyte with no knowledge of how the financial markets work can become successful just by sitting down and staring at a screen. How can he, when he does not even know what a candlestick is?

 

There comes a time where the trader needs to move on from the books and finds his own truth, but before that there is a lot of stuff to learn in my opinion.

 

Of course, if you are a scalper, the less theory you may need to know, but you would still need to know the basics.

 

youngsequan,

 

What are your goals and what do you want from the books? I could recommend you a dozen, but it would be better if you were more specific.

 

The book by Tharp is great and covers a lot of ground.

 

Mastering The Trade by Carter is also decent.

 

The Market Wizards series is also good.

 

Good luck!

[SunTrader 10]

With all respect, I disagree with this statement....

 

Mastering The Trade by Carter is also decent

 

The Market Wizards series is also good............

 

 

+ 1 to the above.

[TheDude 10]

With all respect, I disagree with this statement.

 

I have a hard time believing that a neophyte with no knowledge of how the financial markets work can become successful just by sitting down and staring at a screen. How can he, when he does not even know what a candlestick is?

 

There comes a time where the trader needs to move on from the books and finds his own truth, but before that there is a lot of stuff to learn in my opinion.

 

Of course, if you are a scalper, the less theory you may need to know, but you would still need to know the basics.

 

youngsequan,

 

What are your goals and what do you want from the books? I could recommend you a dozen, but it would be better if you were more specific.

 

The book by Tharp is great and covers a lot of ground.

 

Mastering The Trade by Carter is also decent.

 

The Market Wizards series is also good.

 

Good luck!

 

Thats fine. But do note I did say 'technique' books, meaning those that try and teach TA, indicators, set-ups etc.

 

When you say 'how financial markets work', one assumes this knowledge has already been gained - otherwise it's unlikely they would consider a vocation trading. If you want to know what a candle stick is, look it up on the internet.

 

Interesting you seem to find Market Wizards an interesting read. I found it interesting too. Interesting in that there is:

1/ not really any specific technique detailed

2/ a lot of discussion on psychological make up

3/ quite a bit of contradiction between different interviewees.

 

This contradiction isn't a bad thing, but a reflection on one size doesn't fit all and the importance of the individuals own approach. That will never be developed doing what the other 80% of losers who have read and doing the some old same old in your van tharp and other 'how to' books.

[SunTrader 10]

That will never be developed doing what the other 80% of losers who have read and doing the some old same old in your van tharp and other 'how to' books.

Neither will screentime do it alone.

[brownsfan019 17]

I put this together awhile back after being asked for recommended books.

 

Good luck and use the forum!

Amazon.com trading book reco's.pdf

[youngsequan 10]

youngsequan,

 

What are your goals and what do you want from the books? I could recommend you a dozen, but it would be better if you were more specific.

 

The book by Tharp is great and covers a lot of ground.

 

Mastering The Trade by Carter is also decent.

 

The Market Wizards series is also good.

 

Good luck!

 

I'm trying to make a certain amount each day from day trades

 

I'm trying to build up my money so I can make long term trades

 

I trade from the news in the morning

 

I make most of my money in the morning

 

If I miss a stock, I'm usually stuck the rest of the day

 

I want to learn how to notice patterns, and learn some strategies so I can make money if I don't catch something in the morning

 

Thanks everyone for the help

[kuro 10]

Reminiscences of a Stock Operator

 

Great book, I re-read it every so often.

[BlowFish 10]

Reminiscences of a Stock Operator

 

Great book, I re-read it every so often.

 

Really it is on many different levels. Interestingly it is one that crops up regularly as a recommendation in Market Wizards.

 

I have probably read it 10 times, it certainly bears repeat reading!