April 15

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Must-Read Trading Books – TOP 6 Classics

In this article some very interesting trading books. This is the perfect time to go ahead and add these books to your to-do list. To trade successfully on the Olymp Trade platform, you must learn the basics of trading. This list is not complete, but the main books are collected here.

1. “The Secrets of Economic Indicators” by Bernard Baumel 

Trading Books - The Secrets of Economic Indicators
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Mr. Bammel is a trading analyst, an international speaker, and the chief global economist at the economic outlook group. He frequently makes keynote presentations before conferences, workshops, and legislatures on the latest economic and geopolitical outlooks. Mr. Bammel is also on the faculty of the New York Institute of Finance and a member of the monthly Wall Street Journal economic forecast panel. 20 in 2019 the Wall Street Journal ranked Mr. Baumel as the most accurate economic forecaster and there are actually many more achievements and accomplishments in the life of this fabulous writer.

His book “The secrets of economic indicators” has had several editions, and it was first published in 2005. If you’ve ever wanted to master the economic calendar and want to understand fundamental analysis then this is definitely the book for you. This book covers all economic releases and explains in depth what each of them means. It provides the website sources of the releases, the frequency, and the time of the releases, explains why each release is important and how it’s computed.

Also, how each release affects different markets, it covers all U.S. economic indicators, talks about major economic indicators from different regions, and also provides the best list of websites for international economic indicators. This is like the fundamental analysis encyclopedia. One of the biggest talents of Mr. Baumel is explaining hard things in a simple way that is interesting to read and this is important because you want to read and devour the knowledge not go to sleep.

2. Trading Books “Getting started in technical analysis” by Jack Schwager

Let’s talk about technical analysis of the price: chart entry points, exit points, trading systems patterns, indicators and strategies. The first book is called “Getting started in technical analysis” by Jack Schwager. Mr. Schwager is a recognized industry expert in futures and hedge funds. He is one of the founders of fund cedar, the website is fundsteader.com and this is actually a platform designed to find undiscovered trading talents worldwide and connect unknown successful traders with sources of investment capital. Sounds very interesting.

This book is a great starting point for beginner traders because it covers major topics in technical analysis and not only does it cover chart patterns and technical indicators. The book takes a look at how to choose entry and exit points and also trading systems and how to develop a plan for successful trading.

"Getting started in technical analysis" by Jack Schwager

3. “Japanese Candlestick Charting Techniques: A Contemporary Guide to the Ancient Investment Techniques of the Far East” by Steve Nisen

Japanese Candlestick Charting Techniques: A Contemporary Guide to the Ancient Investment Techniques of the Far East

The next book for trading about Japanese candlesticks which are used for trading on the Olymp Trade broker. The can the concept of candlestick charting was developed by Munahisa Homa a Japanese rice trader. Steve Neeson is an American expert on western technical analysis with over 30 years of real-world experience who introduced the Japanese candlesticks to the western world in 1991 with the release of his book called “Japanese Candlesticks Charting techniques a contemporary guide to the Ancient Investment Techniques of the Far East”. The book offers a thorough explanation on the subject of candlestick charting including explanations of virtually all candlestick patterns that are used by traders.

4. “The Disciplined Trader Developing Winning Attitudes” Trading Books by Mark Douglas

Trading Book - "The Disciplined Trader Developing Winning Attitudes" by Mark Douglas

This trading book was published in 1990, and it is considered an industry classic. One of the first books to introduce the investment industry to the concept of trading psychology. Mr. Douglas explains the causes as to why most traders cannot raise and keep their equity on a consistent basis and brings the reader to step-by-step practical and unique conclusions as to how to go about changing any limiting mindset.

5. “Reminiscence of a Stock Operator” by Edwin Lefevre

"Reminiscence of a Stock Operator" by Edwin Lefevre

This book was first published in 1923. It’s about the life of Jesse Livermore who was one of the 19th century’s most famous traders. This book teaches you life lessons that will not only come in handy when you are trading but also when you are living your everyday life. This book is full of wisdom trading psychology and trading philosophy. It is easy to read, and it is full of motivation. You will also find the book filled with interesting wisdom quotes such as “There is nothing like losing. All you have in the world for teaching you what not to do and when you know what not to do in order not to lose money you begin to learn what to do in order to win”.

6. “The Intelligent Investor’ Trading Books by Benjamin Graham

This trading book is especially interesting because Warren Buffett himself has stated that this is one of the best books on investing on the subject of investing and one of the primary sources of his own education in trading stocks. I think this review states for itself the book focuses more on investing in stocks as well as discipline and controlling our emotions, so definitely you should add it to your reading list.

"The Intelligent Investor' by Benjamin Graham

Reading, learning and expanding your knowledge is one of the best things that you can do to invest in yourself.

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