Best Trading Books

I am often asked: “What books on trading do you advise to read?” Actually this post is dedicated to the selection of the literature for the trader.

There are plenty of books on Forex trading and stock exchange. I tell you a secret: most of what you can see on the shelves of book stores is written by incompetent theorists who have never traded themselves.

There are not so much intelligible works, below you can download good books on Forex:

A. Elder „Trading for a Living: Psychology, Trading Tactics, Money Management“

What this book is about?

This book reveals the list of mechanisms and tools for effective activity on the stock exchange. Through which you can not lose money during bad lucks and significantly increase the funds in periods of winnings. In addition to developing effective methods of studying of the market and market strategies, you will learn something that is not in the tutorials - psychology of effective trading.

Why this book is worth reading?

— It was reprinted many times and translated into 12 languages and is the most popular book in the history of the exchange.

— It is based on the practical experience of the person who committed a lot of mistakes for all the years of his trading before he came to success. And now he shares with you how to prevent all this mistakes.

— This is a basic guide in the field of speculation on the stock exchange, which is credibility among professionals. Despite the fact that the book is not similar to what they sell in bookstores.

For whom this book is?

For private investors looking for stable income through good tactical activities, as well as for professional traders.

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Edwin Lefevre “Reminiscences of a Stock Operator”

The first book “Reminiscences of a stock operator” was published in 1923 and to this day is the most popular books on financial topics. This book is a biography of Jesse Livermore, who is considered one of the best speculators in history. This book effectively influenced the minds of a huge number of investors. And it has not lost its relevance and popularity in market-related literature to this day. It tells us about the fluctuations of market demand, as well as about psychology of the buyer as if the book tells us about some event that happened recently in the financial market. Therefore, there is no doubt that you will be interested to study it now, in the 21st century.

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Jack D. Schwager “Market Wizards”

Jack Schwager is a popular financier, whose works include such as “Stock Market Wizards”, “Technical analysis. A complete course” and others.

In his book, he interviews the most famous traders in the world who have achieved success in the financial markets. Thanks to this book you will be able to find new ideas and methods of trading, which used the famous “market wizards”. Especially you will be surprised with all the variety of methods they applied. Some of them use in their activities fundamental analysis no mind to the price fluctuations of stock and some use exclusively technical trading systems, others are focused on the problems of price formation, and the fourth are looking for option of arbitrage profits in the real effective market.

This book is different from the others similar in that all the information is presented in accessible language and is very easy to read, making useful for both experienced traders and beginners in the financial market, or just for ordinary people.

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Michael W.Covel „The Complete Turtle Trader“

In this book Michael Covel introduces readers to previously unpublished details of the famous experiment, organized by legendary Chicago trader Richard Dennis, who, beginning his career in 1966, at the age of seventeen, quickly grasped intricacies of stock trading and earned $200 million by 1983.
Having bet one day with his friend William Eckhardt, if it is possible to teach trading “person from the street” or it requires innate abilities, he placed in the newspaper an ad inviting everyone to two-week courses. Applications were submitted by several thousand people, but only twenty-three of them were taken. They became the legendary “turtles”, who earned $100 million for Dennis. Some of the participants continued to trade after graduation, becoming incredibly successful traders and some have sunk into obscurity. Michael Covel traced the fate of the majority. He learned what they were taught, including the rules of entry and exit from the market and the personal advice of Dennis and Eckhardt, and told about it in the book — the most complete and detailed book about the history of the “turtles”.
The author not only tells the details of an unprecedented experiment, but also analyzes them, makes conclusions why some “turtle traders” were more successful than others. This makes the book interesting for those who are willing to experiment and try their hand in trading.

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Michael W. Covel „Trend Following: Learn to Make Millions in Up or Down Markets“

To go with the flow of the trend, it is not enough just to relax.

Michael Covel’s book provides a set of tools that are absolutely necessary to identify the trend, for confidential following in its rapid flow and timely output before the point, as the current flow will take you directly to the waterfall which will be fatal for your accumulated profits.

Each of the tools presented in this book contains a complete and detailed description of its practical application in the market, which will be clear to beginners and useful to professional traders.

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Gregory L. Morris „Candlestick Charting Explained Workbook: Step-by-Step Exercises and Tests to Help You Master Candlestick Charting“

What this book is about?

The book tells us about one of the most common and popular methods of analysis and forecasting of the market, which is called “Japanese candlesticks”. Morris, a professional in the field of technical analysis, explains how candlestick can be used to search and evaluate graphical models. In the result of the integration of pattern recognition of candlesticks and technical indicators, the author developed a new rational approach to trading.

Why this book is worth reading?

— It is focused on practical and rare mechanisms of increase of indicators of trading activity.

— The book tells in detail how to combine candlesticks with other mechanisms for finding new profitable projects.

— It can be used as practical guidelines for the implementation of the method of the candlesticks and the orienting point of candlestick patterns.

For whom this book is?

It is perfect for beginners in the field of trading and investors operating on the market of stocks, bonds, futures.

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Mark Douglas „Trading in the Zone“

The book shows a wide view to all the difficulties that arise before a person facing financial markets. When one becomes aware that the deal is not just an advice and tips of brokers , but the acquisition or sale is a very complex operation, giving unexpected results. The book leads us to a reasonable psychological approach, which would produce sustainable and favorable outcome of commercial transactions. The author does not give ready-made model of trading, his purpose is entirely different. He seeks to explain how you should reason and think to become an effective trader.

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Steve Nison „The Candlestick Course“

In 1990 Steve Nison introduced to Western traders to the powerful mechanism through which Japanese traders for many years had a competitive advantage. Currently, after the publication of this book, in which the entire list of the most powerful Japanese mechanisms are revealed, Nison has opened a new level in the improvement of technical analysis.

In his book, he familiarized us with all the tricks of application of 4 the most important mechanisms that the Japanese kept a big secret from everyone. These mechanisms include Kagi charts, Renko charts, Three Line Break charts and Disparity indexes representing an amazing array of different instruments accounting and predict price fluctuations and favorable trading conditions.

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John J. Murphy „The Visual Investor: How to Spot Market Trends“

The book is about visual investing and the different methods of graphical analysis. Murphy explains how to understand charts on the basis of which the investors decide how to determine the course of development of markets through visual comparison of the charts without the use of complicated formulas and mechanisms. The book clearly reveals that it is much better to carry out the visual analysis of the financial markets individually and it will not be particularly difficult. In practice it is necessary only to identify which markets are thriving and which are not. Visual analysis is the best method.

Why this book is worth reading?

— The author is one of the most successful and popular professional in the world engaged in the market analysis.

— The second edition has been improved due to the current situation on the market.

— The book is written in accessible language which makes the text clear, not only to specialists but to ordinary people also.

For whom this book is?

It is aimed at professionals in the field of investments and trading and for all those who study financial markets.

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Brett N. Steenbarger „The Psychology of Trading: Tools and Techniques for Minding the Markets“

The book is entirely devoted to trading. In it you’ll find the answers to what option of trading is specifically suited to you, how can you improve your mechanisms and instruments to make the strategy more effective, and also what the beginner must be able to do and more. Professor Steenbarger considers trading as a science, and encourages us to find patterns.

Why this book is worth reading?

— Several generations of professional traders grew on the basis of teachings and theories of the author.

—Special emphasis is placed on the psychology of trading.

— This book will be a great tool for development in any field.

For whom this book is?

For those seeking to achieve high performance in their activities.

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Courtney Smith „How to Make a Living Trading Foreign Exchange: A Guaranteed Income for Life“

The book reflects almost 25 years of experience in trading. It includes everything related to trading, but the main question is centered around how to make your work at Forex exchange give a steady income.

Why this book is worth reading?

— The book tells us how to get great money with just Internet access. This book is your guide on the Forex market; it reflects all the terms and systems that are useful to you, as well as the latest techniques of trading.

— You can learn how the great George Lane achieved success.

— Specific techniques to ensure profit in short run and in long run are given.

- The book pays much attention to the psychology of traders.

For whom this book is?

It will be useful for both newcomers and professional traders.

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P.S. These books will give you the most important thing — understanding of the whole picture. Because the information in these volumes is very valuable, the best option is to read 1 chapter a day to digest the information, to let it absorb into your mind. Don’t hurry, the market will not run away from you.

Take care, Michael

ForexTraderPortal.com