November 21

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TOP 10 Must-Read 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.

Books written by professional traders and market analysts can provide priceless insights and help you develop a winning financial strategy. The best works of all time cover risk management, psychology, fundamental and technical analysis, and other aspects of being a successful trader.

However, as so many books have been written on the subject, it is difficult to identify truly valuable works. Here are the 10 best trading books worth reading. We have outlined their major takeaways, strengths, and weaknesses.

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

Trading Books - The Secrets of Economic Indicators

Mr. Bammel is a trading analyst, prominent speaker, economist, and member of the Wall Street Journal economic forecast panel. In 2019, he became the most accurate economic forecaster, according to the newspaper. If you want to master the economic calendar and understand fundamental analysis, this is definitely the book for you. It covers all economic releases in-depth, including their sources, frequency, and time. All U.S. economic indicators, as well as major indicators from different regions, are covered.

  • What I like about this book

This is a comprehensive guide to fundamental analysis. It covers all the essentials of devising a solid strategy. 

  • What I don’t like about this book

Some parts are quite repetitive.

  • Who is this book for?

If you are a fundamental trader, this is a must-read. The author provides in-depth descriptions of economic indicators, news following strategies, and other vital aspects.

2. “Getting Started in Technical Analysis” by Jack Schwager

"Getting started in technical analysis" by Jack Schwager

Jack Schwager is a recognized industry expert in futures and hedge funds. He is one of the founders of Fund Cedar, a platform that uncovers trading talents worldwide and connects them to sources of investment capital. This book is a great starting point because it covers major topics in technical analysis, not only chart patterns and indicators. The author takes a look at how to choose entry and exit points, select trading systems, and develop a plan for successful trading.

  • What I like about this book

The author presents plenty of useful information in an engaging way. It is one of the top day trading books.

  • What I don’t like about this book

Some chart updates are necessary, particularly in terms of candlesticks.

  • Who is this book for?

As we have mentioned, this is a great place to start learning about the fundamentals of trading research. The book will suit any beginner.

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

Steve Neeson is an American expert on Western technical analysis who introduced the Japanese candlesticks to the Western world in 1991. This book is his groundbreaking work. It offers a thorough explanation of the principles of candlestick charting, including analysis of virtually all Japanese patterns that are used by traders of the Olymp Trade broker.

  • What I like about this book

This book does a great job at explaining the charts with some historical background. It will enhance your understanding of bearish and bullish patterns. 

  • What I don’t like about this book

The style is a little repetitive.

  • Who is this book for?

This book is suitable for traders who want to gain a deeper understanding of Japanese candlesticks. 

4. “The Disciplined Trader Developing Winning Attitudes” 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. It is one of the works that introduced investors to the concept of trading psychology. Mr. Douglas explains the reasons why most traders fail to raise and keep their equity on a consistent basis. He provides step-by-step guidance and leads the reader to practical and unique conclusions about the limiting mindset.

  • What I like about this book

Like any classic work by a renowned investor, this is a must-read. There is plenty of valuable material about how to develop the right approach to trading.

  • What I don’t like about this book

Some of the material was later included in Trading in the Zone, another book by the same author.

  • Who is this book for?

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 tells us about the life of Jesse Livermore, a famous 19th-century trader. His story teaches life lessons that will come in handy not only in trading but also in everyday life. Filled with wise trading psychology and philosophy, it is motivating and easy to read. You will also find interesting quotes like “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 the money you begin to learn what to do in order to win”.

  • What I like about this book

This book is packed with timeless wisdom. Some of the tips are still relevant today, as they are applicable to modern markets. 

  • What I don’t like about this book

Nothing. This is a classic work every trader should read. 

  • Who is this book for?

Sometimes, we should view our actions from a historical perspective. This book is a wonderful opportunity for every trader to see what investment felt like almost a century ago!

6. “The Intelligent Investor’  by Benjamin Graham

"The Intelligent Investor' by Benjamin Graham

This trading book is especially interesting because Warren Buffett himself has stated that this is one of the best books on the subject of investing and one of the primary sources of his own education in trading stocks. The book mostly focuses on shares, discipline, and emotional control, so you should definitely add it to your reading list. Reading, learning, and expanding your knowledge is one of the best things that you can do to invest in yourself.

  • What I like about this book

This book covers all the fundamentals of making the right decisions in the stock market. It also provides a historical perspective, so it will help you understand shares on a deeper level.  

  • What I don’t like about this book

Some of the illustrative material, such as charts, are rather outdated. They are also limited to the brick-and-mortar businesses. 

  • Who is this book for?

Beginners and anyone who is interested in classic works on investment will love this work.

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

7. “Pit Bull: Lessons from Wall Street’s Champion Day Trader” by Martin “Buzzy” Schwartz

Pit Bull: Lessons from Wall Street’s Champion Day Trader

This book was written by a true champion with nerves of steel and killer instinct. His nickname says it all! Schwartz shares the true story of how he became a celebrity trader, and describes the people and places he discovered during his journey to success. This book is packed with his unique techniques and tricks that helped him to earn millions. Book is suitable for traders of all levels, from newbies to veterans. This is an inside view of real life on Wall Street. 

  • What I like about this book

This book was written by a legend, there is no reason to doubt the author’s credibility. 

  • What I don’t like about this book

Some of the tips, such as not putting all eggs in one basket and working hard, may seem too basic for experts. 

  • Who is this book for?

This book is suitable for traders who want a fun true account of the events in the epicenter of stock trading.

8. “Stocks on the Move: Beating the Market with Hedge Fund Momentum Strategies” by  Andreas F. Clenow

Stocks on the Move: Beating the Market with Hedge Fund Momentum Strategies

As a professional hedge fund manager, Andreas F. Clenow knows all the ins and outs of the stock market. His premise is that beating it is far less difficult than you may think. Nevertheless, many mutual funds fail, and the author takes us behind the scenes to explain why. What mistakes do mutual fund managers keep making again and again? This is an engaging description of the inner workings of the industry, and it is guaranteed to stay in your memory.

  • What I like about this book

This book is a page-turner, as it is fun and easy to read.

  • What I don’t like about this book

Despite all of its merits, this work is not revolutionary. You will not have any groundbreaking information. 

  • Who is this book for?

This book is great for young investors who want to understand how the markets really work, and what goes on behind the scenes. For an expert, it may seem rather basic. 

9. “Forex Price Action Scalping” by Bob Volman

Forex Price Action Scalping by Bob Volman

Bob Volman shares his rich experience as an independent trader, as he has been working in the markets for decades. This work is a summary of the insights he has gained as a price action scalper. He has bundled all of his knowledge into a single all-inclusive guide. The book is packed with charts, tables, and other visual aids. The author provides highly detailed descriptions of his methods, with impressive illustrations for every major finding.

  • What I like about this book

This is a great guide on intraday tactics which takes you straight into the heart of hectic speculation.

  • What I don’t like about this book

The book has a very narrow focus, as it covers only intraday strategies.

  • Who is this book for?

Every day trader will benefit from the insights shared in this book. 

10.  “Day Trading For Dummies” by Ann C. Logue

Day Trading For Dummies by Ann C. Logue

The name of the book is self-explanatory. If you are only beginning your trading journey, you need a guide that will explain all the basics in an engaging and sometimes amusing way. This is what this book for dummies is all about. It will help you understand how trading works and develop your own action plan. The author is a freelance writer, a consulting analyst, and a teacher of Finance.

  • What I like about this book

This book gives a solid overview of strategies from classic to modern systems. It also contains references to updated rules and regulations in the industry, including tax laws.

  • What I don’t like about this book

The tone may seem too light-hearted to some readers.

  • Who is this book for?

This book is ideal for every beginner who wants to master the markets. It provides all the essentials. All popular strategies, tools, and risk management approaches are covered. 

Final Words

Our rating of trader books includes both classic and modern works containing valuable tips, techniques, and revelations for traders. Develop your foresight by learning about the experience of money-making stars and distinguished analysts. While modern strategies require close attention, it is also useful to learn from the previous generations of traders. Whether you want a fun read for dummies or a serious technical analysis guide, our top 10 include books worth reading.

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