Best day trading strategy books
Below we have collated the top 10 books, taking into account reviews, ease of use and comprehensiveness. This book centres on the notion of only making trades when the odds are in your favour, so it delves into how you set up your trades, and what to look for to know exactly what to trade and how much. The author calls on years of successful experience in the markets and you can benefit from his trial and error approach to avoid future mistakes yourself.
Whilst many books sing about the potential riches, Josh DiPetrio emphasises day trading is not a get rich quick scheme. His writing is easy to follow and you can tell he genuinely wants to make you aware of the dangers, and advise you on how to manage them.
This is one of the top books because there is so much detailed instruction on how to set up trades. He leaves no stone unturned as he breaks down numerous strategies and different markets.
One of the best selling day trading books, you get to benefit from the experience of one of the most highly regarded analysts in the forex world.
A lot of good books focus on technical analysis, strategy and risk management, but not so many focus on the complexities of trading psychology. The book details why not yielding to your emotions is harder than it sounds and offers you a multitude of tips for keeping calm and getting in the right headspace. The author focuses on market philosophy and delves into his own trading psychology. The only thing to point out is that this book was written during the highly volatile period of the dotcom boom, so some information may be outdated.
If you want strategies you can take from the book and apply with ease then this is a good choice. You get a number of detailed strategies that cover entry and exit points, charts to use, patterns to identify, plus a number of other telling indicators. This book gets glowing reviews and is written in an engaging way, giving it appeal to a wide audience.
The book explains why most strategies such as scalping struggle to overcome high intraday costs and fees. This is a self-proclaimed step by step guide, taking a complex system and making it easy to follow. The success of this book comes from the clear instructions you get around entry and exit rules, how to capitalise on small intraday trends, plus advice on the software you do and do not need.
The author also keeps it light-hearted and engaging throughout, making it one of the must read trading books. There are no mincing words, it offers you practical advice from page one on how to trade futures effectively. You can also apply the philosophies and strategies found here to any number of intraday markets. Thanks to the wonders of technology you can now get day trading audiobooks and ebooks.
They also allow you to take notes whilst you listen, or apply the information in real-time on your platform. You can also get books in pdf, as free downloads. These popular day trading books are an extremely useful tool that many people overlook, to their detriment. They will allow you to keep a detailed record of all your trades. Some essentials to note down are the following:.
These serve a different purpose from the bestseller trading books outlined above. So if you are trading a longer-term trading system, you may get 30 trades per year, and it will take you several years to build your confidence and expertise. However, if you were to apply the same rules and trading ideas to an intraday timeframe, you could get 30 trading opportunities in a month.
This allows you to test and hone your day trading or even medium-term system at a much faster rate. Being able to test your ideas on a large sample size is one of the greatest reasons why every trader should add day trading to their repertoire.
Of course, at the time, they never realised it was as a result of the tech boom and the markets were about to go bust in a huge way. What caught my interest the most was a story he related about a day trader who had a systematic day trading strategy, and he would apply it every day.
I could not imagine anything better than placing a few trades in the morning, banking an above average day trading tally and then heading out to the links with my golfing buddies. What a dream hey. When it comes to day trading, you can create your lifestyle, and you can choose how much it impacts your life. No matter if you trade penny stocks, currency trading, use a scalping strategy, use candlestick charts or only prefer to short the stock, day trading could be a way to increase your returns.
You can identify the ideal day trading timeframe to fit your lifestyle, and that is the main reason why day trading has such universal appeal. As you can see, the examples above are for those who are not living in the European or US time zone as they are the two biggest markets for day traders. So it makes sense to consider the alternatives for those living in markets which have low liquidity, such as Australia and New Zealand.
If your time frame is limited and you are day trading Forex you may want to trade breakouts and momentum trade. This means you look for breakouts where the momentum is carrying forward or going short and taking short positions. If you have ever felt you had the skill to day trade and wanted a robust set of ideas, strategies and mindsets to get you started, then this is the book for you.
Aziz has laid out a simple to follow day trading guide, filled with exciting stories, robust day trading strategies and sets a realistic expectation of what is possible. His day trading book has plenty of rich and colourful examples including charts on technical analysis, day trading setups and the anatomy of a day trade. This book is perfect for anyone with interest in day trading stocks, indices, commodities or Forex markets. Click here to read more reviews. If you are feeling confused by the plethora of day trading strategies available to you, then perhaps you need to simplify things.
Markus has written an excellent day trading book, which is short and straight to the point. Instead of inundating you with dozens of strategies, he has pinpointed a particular strategy you can start testing straight away.
The full day trading strategy is revealed including your entry, exit and most importantly, how to take profits on successful trades. If you are looking for one of the best books for day trading, which allows you to understand the full day trading strategy quickly, then this is the book for you. Not only that but after you have read through it, you can open up a demo Forex account and start testing it on a live demo trading account.
This is the beauty of the fast paced internet world we live in. Brian understands the importance of timing the market when it comes to day trading and his combination of strategy and timing are what makes his approach stand above the others. If you like the idea of learning a strategy then implementing and then mastering it, grab this book as it is ideal for those looking for mastery and not just another shiny object.