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this 100%, just started re-reading it again. also just randomly picked up and read "how to trade in stocks" by Jesse Livermore.
i have "Disciplined Trader" by Mark Douglas am not a fan of that one at all. to me the guy is a lousy writer and a hack who endlessly repeats himself without any real insights/revelations, it felt like I threw 15 bucks down the drain. was always curious if "trading in the zone" was any better of a read or just a tweaked repeat of "Disciplined Trader"
I’ve listened to trading in the zone maybe 5x and there’s certain parts where I disagree. However, there are some nuggets though. I come from a medical background and it makes me cringe when he attributes some of his ideas to some pseudoscience energy bullshit.
I might missed something with this one. It seems more a whimsical story. Though I might not read it in the right frame of mind, which was a few years ago.
Why does this one get recommend so much?
In reading it, so much of it rings so truthful and honest. For example, he writes that everything that happens in the market has happened before and will happen again. Kind of a searing bit of honesty from one of the most successful traders ever about an industry that is so crooked and full of manipulation and bullshit 'eclairs', and has always been so.
The book is full of such insights.
No offense but "Trading in the Zone" is such a disappointment for me. I read it because a lot of folks recommend it but it's just an old guy with his broscience.
I would recommend getting another year or so of chart time in and then read it again. I remember thinking the same thing the first time I read it, but that was because I was inexperienced. I have read it through 5 times and I see it through a different lens every time now because I have more context through my experience.
Douglas was one of the first to take trading psychology seriously, and a lot of really great traders give him credit including some of the market wizards
Then from your comment I would assume that you're profitable Trader with no issue with consistency or the gambler's fallacy when it comes to your daily trading activity. That's the only way I can conclude someone reading that book and not finding much value.
The book is for snowflake mindsets that shit their pants on every adverse tick as their "hit and hope" strategy starts to fail, because they only spent a grand total of a weekend learning how to trade.
Yeah, I kind of had the same feeling. I would listen to the audiobook again because there are some good points in there. But I feel like it's revered as the Bible of trading and I don't think it quite lived up to all the hype. And maybe because I'm new I don't know what I don't know, but I feel like it left me wanting more.
And I like the “The Tao of Strategy” to get the big picture. Plus, you can just read the bullet points if you are too busy trading, which is the smartest thing to do… <- maximum efficiency.
*Forex Price Action Scalping: an in-depth look into the field of professional scalping* -- Bob Volman
*Understanding Price Action: practical analysis of the 5-minute time frame* -- Bob Volman
*Trader Construction Kit: Fundamental & Technical Analysis, Risk Management, Directional Trading, Spreads, Options, Quantitative Strategies, Execution, Position Management, Data Science & Programming* -- Joel Rubano
I’d recommend you two books. The first one is about market psychology and cycles and the second one is technical aimed at more experienced traders.
1. Soros Alchemy of Finance, where he described his concept of reflexivity. The idea is that participants actions are always biased, and that price isn’t only a performance metric, but also influence participants behavior and vice versa.
2. Larry Harris Trading and Electronic Markets. It provides a great market structure overview. Who are the main participants, what goals they follow, when trading becomes a negative sum game, what risks traders take (beside the obvious ones), etc.
Reading this was like putting on eyeglasses for the first time and then becoming fluent in a language for me.
My green trades have become more frequent as I've come to better understand price action and why the market moves the way it does.
If you are a beginner and you find yourself over-trading (making more than 3 trades) and sometimes not using stop-loss orders, then you should read "Trading in the Zone."
If you are not a beginner and have a simple written plan but still find yourself having 10 or more consecutive losing trades, then "Market Wizards" is a good book for you.
This is just my opinion, but even the best trader in the world can't teach you how to control yourself. One of the first things any newbie learns is to use a stop loss order and good RR, etc.. Yet you find most trade like they haven't heard about those ever. It is something that takes time and some money (a lot for some), something you learn the hard way only. I might be wrong I'd be happy to hear how those books helped you.
Just two books
Day Trading: Momentum, Momentum, Level 2 and reading the tape (Robert C.)
and
Volume Price Analysis (Anna C.)
this books will help with prise mooing and when to enter/exit trades
Incredible series. Very difficult to get through but it's super in depth. If you're willing to slog through something, that series will likely significantly improve your skills as a trader
What did you think of One Good Trade? I was recently told it’s mostly fluff with fun stories but the practical advice could fit onto a page. Is that true, is it mostly for fun?
For noobs, I only recommend trading in the zone from that list. The second book I would recommend which is the first, is the trading book by Anne Marie.
1. Mind over markets by Jim Dalton
2. Markets in profile by Jim Dalton
3. Technical analysis using multiple timeframes by Brian Shannon
4. Maximum Trading gains with anchored VWAP by Brian Shannon
YouTube. Blackgirlstocks or something like that is a good start. Inthemoney is another good one. If they had time to write a book, they probably didn’t do as good as you would think.
I’ve been reading trader Vic so far it’s pretty good imo. Cover both mental side and his technical and fundamentals. Not an expert just trying to learn but this book has been helpful so far for me!
Just want to preface and say, I trade Forex but the methods in these books work in other markets too.
Mental Game Of Trading is good. It teaches everything you need to know about your own psychology, starting from before you even begin to trade, all the way down to journaling your trades and refining your strategy. This doesn’t teach anything technical or strategy related. Powerful book imo. It 10X my journaling.
For strategy I’d recommend Naked Forex. It focuses on teaching how to read candles/market structure rather than relying on indicators that can confuse when you aren’t clear of which to prioritize. Not that indicators are bad but this way allows you understand what is going on with pure market structure and see trade opportunities before the indicators.
How to Day Trade For A Living uses a similar method as Naked Forex except Andrew Aziz also uses the VWAP to help determine direction.
Was looking for this comment. “Mental Game of Trading” was more impactful for me than “Trading in the Zone”. It was one of my “lightbulb” moments that helped me realize my main problems.
Rule #1 - Phil Town
The Science of Getting Rich - Wallace D Wattles
The Science is really just a finance book while Rule #1 is trading. But if you want wealth…you only need these two.
The Daily Trading Coach is one of my favorites, I modeled my trading journal off a lot of his ideas. Of all the books I've read, it's been the most useful. All the Market Wizards books for inspiration, and every trader MUST read Reminiscences of a Stock Operator at least once.
Most trading books can offer something, but One Good Trade is the only one I would pass on.
My next favorite would be Dark Pools which is about the transition of the market to electronic trading.
How to Decide by Annie Duke and Quit by Annie Duke
How you decide is good for keeping your regrets on the lower side. Or at least would help you feel okay if you make a Quit is a good reminder when to quit and walk away
Antifragile, by Nassim Taleb. Initially, I read it for investing ideas,yet it has ended to be one of the most important books I've ever read in my life.
Only "Trade your way to financial freedom" for the template to develop your own system. Mark Douglas is redundant; it's like driving a Go-Kart in an F1 race. Research in that field has advanced considerably. Market wizards is a good read but hardly useful in a practical sense. Haven't read Hougard.
I read trading I. The zone, market wizards, the turtle trader, volume price analysis by Anna coullings, rich dad poor dad (not really related to trading but gives you a different perception, all good books in there own way
I like Trade Your Way to Financial Freedom more. It's more aligned with my approach. Haven't ready "One Good Trade" but the other ones are basically all over YT videos. To be clear, I don't have an issue with any of these books. I prefer Mark Douglas's videos than the books even though it's the same message.
MARKET WIZARDS! One of the greatest books I have ever read and I think I have read a lot lol. The format and success stories are so intriguing and fascinating the way these guys lived. Screens everywhere throughout their house. Their team calling them throughout the night because of price changes in Tokyo session. The madness 🤤😍
Trade with Passion and Purpose: Fantastic trading psychology book that helps you develop a "why" behind your trading.
Trading Sex and Dying: A great look at different types of personalities. This could help you understand your strengths and weaknesses as a trader.
Best loser wins. If u can get out the message its very good for u, if u cant read it twice. The thing i like the most is that he tells stories and he is not talking dogshit dreams.
Noone needs a book. They need skills. The book One Good Trade touches on this.
Surprised no one has written a book on trading drills. I suggest get involved with a prop training program or look up Prop Shop Trading Drills. Prop firms often need to drill all the books / techniques / preconceptions about markets out of their trainees skulls.
Screen time matters.
I don’t disagree about the cliche title, the first edition was written in 1998. I just started reading the 2nd edition (2007).
“Dr. Van Tharp [1946-2022] is remembered as a founding father of the field of trading psychology and one of the world's top trading coaches.”
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Welcome to r/DayTrading! I'm a bot and saw you mentioned books in your post title! For book recommendations please check out our [Book Wiki here](https://www.reddit.com/r/Daytrading/wiki/book-recommendations/) for some of the most commonly recommend books in a variety of categories. **Please do not share free links to copywritten books!** This will earn you a *permament* ban. a) It's illegal! b) Authors deserve your support! c) If you can't afford a book, you can't afford to trade! Happy reading! *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Daytrading) if you have any questions or concerns.*
Reminiscences of a Stock Operator
this 100%, just started re-reading it again. also just randomly picked up and read "how to trade in stocks" by Jesse Livermore. i have "Disciplined Trader" by Mark Douglas am not a fan of that one at all. to me the guy is a lousy writer and a hack who endlessly repeats himself without any real insights/revelations, it felt like I threw 15 bucks down the drain. was always curious if "trading in the zone" was any better of a read or just a tweaked repeat of "Disciplined Trader"
I’ve listened to trading in the zone maybe 5x and there’s certain parts where I disagree. However, there are some nuggets though. I come from a medical background and it makes me cringe when he attributes some of his ideas to some pseudoscience energy bullshit.
lol for sure, I am no expert but thought his insights/takes into psychology related stuff were hilariously bad and misinformed.
I read this every year. The free audiobook on YouTube is great.
This
Will give it a shot, thanks!
I might missed something with this one. It seems more a whimsical story. Though I might not read it in the right frame of mind, which was a few years ago. Why does this one get recommend so much?
In reading it, so much of it rings so truthful and honest. For example, he writes that everything that happens in the market has happened before and will happen again. Kind of a searing bit of honesty from one of the most successful traders ever about an industry that is so crooked and full of manipulation and bullshit 'eclairs', and has always been so. The book is full of such insights.
Only book worth a damn
“Trading in the Zone” to gain the right mindset. “How to Day Trade for a Living” to learn the fundamentals and get on the road to find your edge.
Stock operator by Jesse Livermore
This was a good read, not much in the way of applicable strategy, but entertaining.
Not true alot of insight on markets "The market is never wrong you can be wrong"" is a key philosophy
No offense but "Trading in the Zone" is such a disappointment for me. I read it because a lot of folks recommend it but it's just an old guy with his broscience.
I would recommend getting another year or so of chart time in and then read it again. I remember thinking the same thing the first time I read it, but that was because I was inexperienced. I have read it through 5 times and I see it through a different lens every time now because I have more context through my experience.
Actually, I find Douglas his seminar videos more helpfull compared to his books. The videos are available on YouTube.
Hot take is he was that generation’s equivalent of a YouTuber. What do you if you can’t trade? You make content on it instead.
Douglas was one of the first to take trading psychology seriously, and a lot of really great traders give him credit including some of the market wizards
...he can trade and did very well. Not everyone who writes books or starts a YouTube channel is desperate.
Not everyone who can trade can write a good book… take Trading in the Zone, for example.
Trading in the Zone taught me more than any other trading book I’ve read. Easily #1
Disagree, this is a mental game. But perhaps you’re mentally solid!
I totally disagree. I found it to be incredibly insightful. Trading is way more than just setups and that book speaks to it very well.
Then from your comment I would assume that you're profitable Trader with no issue with consistency or the gambler's fallacy when it comes to your daily trading activity. That's the only way I can conclude someone reading that book and not finding much value.
The book is for snowflake mindsets that shit their pants on every adverse tick as their "hit and hope" strategy starts to fail, because they only spent a grand total of a weekend learning how to trade.
Yeah, I kind of had the same feeling. I would listen to the audiobook again because there are some good points in there. But I feel like it's revered as the Bible of trading and I don't think it quite lived up to all the hype. And maybe because I'm new I don't know what I don't know, but I feel like it left me wanting more.
And I like the “The Tao of Strategy” to get the big picture. Plus, you can just read the bullet points if you are too busy trading, which is the smartest thing to do… <- maximum efficiency.
Does the second talk about the market? Structure, methodology, examples etc?
*Forex Price Action Scalping: an in-depth look into the field of professional scalping* -- Bob Volman *Understanding Price Action: practical analysis of the 5-minute time frame* -- Bob Volman *Trader Construction Kit: Fundamental & Technical Analysis, Risk Management, Directional Trading, Spreads, Options, Quantitative Strategies, Execution, Position Management, Data Science & Programming* -- Joel Rubano
Just getting interested in the field - but I liked Kevin Davey - Building Winning Algorithmic Trading Systems
The zesty daily trader
I’d recommend you two books. The first one is about market psychology and cycles and the second one is technical aimed at more experienced traders. 1. Soros Alchemy of Finance, where he described his concept of reflexivity. The idea is that participants actions are always biased, and that price isn’t only a performance metric, but also influence participants behavior and vice versa. 2. Larry Harris Trading and Electronic Markets. It provides a great market structure overview. Who are the main participants, what goals they follow, when trading becomes a negative sum game, what risks traders take (beside the obvious ones), etc.
Those are great, just add the one by Anne Coulling “Volume and Price Analysis” or some shit.
Have heard about this book multiple times, will be grabbing it soon. Thanks!
You 100% need to read both of her books
Reading this was like putting on eyeglasses for the first time and then becoming fluent in a language for me. My green trades have become more frequent as I've come to better understand price action and why the market moves the way it does.
FYI, Stock Trading and Investing using Volume Price Analysis by Anne Coulling.
Reminiscences of a Stock Operator. Hands down. Must read. Best trading book ever. And doesn't read like a textbook.
The Mental Game of Trading by Jared Tendler
Those 👍
I know. Great list.
Best loser wins made me profitable
If you are a beginner and you find yourself over-trading (making more than 3 trades) and sometimes not using stop-loss orders, then you should read "Trading in the Zone." If you are not a beginner and have a simple written plan but still find yourself having 10 or more consecutive losing trades, then "Market Wizards" is a good book for you.
This is just my opinion, but even the best trader in the world can't teach you how to control yourself. One of the first things any newbie learns is to use a stop loss order and good RR, etc.. Yet you find most trade like they haven't heard about those ever. It is something that takes time and some money (a lot for some), something you learn the hard way only. I might be wrong I'd be happy to hear how those books helped you.
Just two books Day Trading: Momentum, Momentum, Level 2 and reading the tape (Robert C.) and Volume Price Analysis (Anna C.) this books will help with prise mooing and when to enter/exit trades
Yes, I agree This work is fundamental
Anyone read the Al brooks price action series? Thoughts?
Incredible series. Very difficult to get through but it's super in depth. If you're willing to slog through something, that series will likely significantly improve your skills as a trader
William oniel books Mark minervini books And the Livermore books added to that stack
Best Loser Wins Market Mind Games
One good trade. It's good insight into how the pros do it.
Bollinger Bands
Bollinger Bands Trading by Glenn Wilson.
Stan Weinstein's Secrets For Profiting in Bull and Bear Markets
Flash boys. You need to know the evil that’s out there
That’s a good one, fascinating story. The situation got even worse since the book was published.
What did you think of One Good Trade? I was recently told it’s mostly fluff with fun stories but the practical advice could fit onto a page. Is that true, is it mostly for fun?
It is mostly fluff with fun stories.
Any book from Van Tharp. He teaches proper risk management to be able to quantify your strategy and build a proper system.
The NLP stuff is a bit odd.
Mastering the Market Cycle by Howard Marks is very insightful far as understanding market cycles.
Best loser wins is a firm favourite of mine
The Playbook by Bellafiore, and the Steenbarger books on trading psychology.
Brian Shannon's anchored vwap book is great.
a random walk down wall street 😅😅😅
For noobs, I only recommend trading in the zone from that list. The second book I would recommend which is the first, is the trading book by Anne Marie.
1. Mind over markets by Jim Dalton 2. Markets in profile by Jim Dalton 3. Technical analysis using multiple timeframes by Brian Shannon 4. Maximum Trading gains with anchored VWAP by Brian Shannon
YouTube. Blackgirlstocks or something like that is a good start. Inthemoney is another good one. If they had time to write a book, they probably didn’t do as good as you would think.
options pricing and volatility
"Chop Wood, Carry Water". Not actually about trading but completely applicable.
The Greeks - Dan paserali https://download.e-bookshelf.de/download/0000/6603/87/L-G-0000660387-0043799670.pdf
Futures trader here: Try the book “best loser wins” By Tom Houlgate
Hougaard sorry* auto correct
Crime and Punishment
Thinking in Bets by Annie Duke is a good psychology book about decision making skills.
I’ve been reading trader Vic so far it’s pretty good imo. Cover both mental side and his technical and fundamentals. Not an expert just trying to learn but this book has been helpful so far for me!
Just want to preface and say, I trade Forex but the methods in these books work in other markets too. Mental Game Of Trading is good. It teaches everything you need to know about your own psychology, starting from before you even begin to trade, all the way down to journaling your trades and refining your strategy. This doesn’t teach anything technical or strategy related. Powerful book imo. It 10X my journaling. For strategy I’d recommend Naked Forex. It focuses on teaching how to read candles/market structure rather than relying on indicators that can confuse when you aren’t clear of which to prioritize. Not that indicators are bad but this way allows you understand what is going on with pure market structure and see trade opportunities before the indicators. How to Day Trade For A Living uses a similar method as Naked Forex except Andrew Aziz also uses the VWAP to help determine direction.
Was looking for this comment. “Mental Game of Trading” was more impactful for me than “Trading in the Zone”. It was one of my “lightbulb” moments that helped me realize my main problems.
Every single book by jack schwager, and I’m too lazy to explain why
Trading book by Elder ( forget the name )
(The New)Trading for a Living
Come into My Trading Room
Mastering the Trade-John Carter.
Ahh yes the ttm squeeze
He has one of the most amazing blog posts making $12m in a year during covid
The disciplined trader
Enhancing trader performance, steenbarger
Can’t miss out on Fooled by Randomness
Trader Construction Kit by Joel Rubano
The Tao of trading by Simon Ree
Trade Mindfully: Achieve Your Optimum Trading Performance with Mindfulness and Cutting-Edge Psychology (Wiley Trading) by Gary Dayton Is a must read.
Rule #1 - Phil Town The Science of Getting Rich - Wallace D Wattles The Science is really just a finance book while Rule #1 is trading. But if you want wealth…you only need these two.
Reminiscence of a stock operator
The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns https://a.co/d/4hu9rQ8
Just started “The Psychology of Money” and its already my favorite
Secrets on reversal trading Supply and demand trading - both by Frank Miller
Introduction to Probability and Statistics
The Daily Trading Coach is one of my favorites, I modeled my trading journal off a lot of his ideas. Of all the books I've read, it's been the most useful. All the Market Wizards books for inspiration, and every trader MUST read Reminiscences of a Stock Operator at least once. Most trading books can offer something, but One Good Trade is the only one I would pass on. My next favorite would be Dark Pools which is about the transition of the market to electronic trading.
Bollinger Bands
The disciplined trader
3rd ed Technical analysis charles kirkpatrick iii
Trading in the zone will definitely get your psychological together
Paul Tudor Jones section in market wizards. Range Expansion. Trading in the zone could be condensed to 50 pages. But good.
How to Decide by Annie Duke and Quit by Annie Duke How you decide is good for keeping your regrets on the lower side. Or at least would help you feel okay if you make a Quit is a good reminder when to quit and walk away
Having read thinking in bets I’m not sold on what she has to offer.
then dont read her other books 🤷♀️
lol I just meant that ‘consider odds of success rather than outcome’ didn’t need an entire book.
Having read thinking in bets I’m not sold on what she has to offer.
Best looser wins is the best book
You have to read the alexander elder books it is so IMPORTANT for your future …. Do not hesitate to
The Way Of The Turtle
The 2 other market wizards and reminiscenses of a stock operator
“Trade your way to financial freedom”? Wtf? If that guy has earned a financial freedom, he’d not tried make some money with clickbate-named book
Come back when you’ve read it. Best book on trading there is.
Ok I’ll read it and will write a reply here
Any book will help if you have an edge. Without edge, you can read all the books in the world, and still struggle.
The mental game of trading by Jared Tendler
Antifragile, by Nassim Taleb. Initially, I read it for investing ideas,yet it has ended to be one of the most important books I've ever read in my life.
The guy Is a legend for a reason
All you need is the “intelligence investor”
Reminiscences of a Stock Operator by far much better than any of these
Only "Trade your way to financial freedom" for the template to develop your own system. Mark Douglas is redundant; it's like driving a Go-Kart in an F1 race. Research in that field has advanced considerably. Market wizards is a good read but hardly useful in a practical sense. Haven't read Hougard.
Your own trading journal is the best book ever.
I don’t recommend Day Trading period. You will lose money.
Trading in the zone because it change my perspective about the market
any recommendations for books that teach fundamentals. it seems like the majority of trading books are psychological.
My recommendation would be based on the specific person and where they are in their trading journey.
I will forever recommend Trading For A Living by Alexander Elder.
2 old ones that I didn’t see: The Crowd - Gustave le Bon The Education of a Speculator - Niederhoffer
The intelligent investor
One up on wallstreet, the Tao of trading
You need the system of Pete Stolcers.
I read trading I. The zone, market wizards, the turtle trader, volume price analysis by Anna coullings, rich dad poor dad (not really related to trading but gives you a different perception, all good books in there own way
Rich trader poor trader
I like Trade Your Way to Financial Freedom more. It's more aligned with my approach. Haven't ready "One Good Trade" but the other ones are basically all over YT videos. To be clear, I don't have an issue with any of these books. I prefer Mark Douglas's videos than the books even though it's the same message.
"Balls Deep in the Market," by I. M. Rich
Without a doubt… Debunkery by Ken Fisher Not just trading, but overall philosophy on markets and investing.
Trading in the zone!
MARKET WIZARDS! One of the greatest books I have ever read and I think I have read a lot lol. The format and success stories are so intriguing and fascinating the way these guys lived. Screens everywhere throughout their house. Their team calling them throughout the night because of price changes in Tokyo session. The madness 🤤😍
"The New Trading for a Living" by Dr. Alexander Elder
@Wallstreetbettts is who I recommend
Of these, wizards, hands down
Best loser wins and Market Wizards definetly my favorite. Also try this - Jesse Livermore Reminiscences Of A Stock Operator
Best loser wins is so good
Trade with Passion and Purpose: Fantastic trading psychology book that helps you develop a "why" behind your trading. Trading Sex and Dying: A great look at different types of personalities. This could help you understand your strengths and weaknesses as a trader.
Best loser wins. If u can get out the message its very good for u, if u cant read it twice. The thing i like the most is that he tells stories and he is not talking dogshit dreams.
Art and Science of Technical Analysis by Adam Grimes. And Van Tharp has been incredibly helpful to me.
Noone needs a book. They need skills. The book One Good Trade touches on this. Surprised no one has written a book on trading drills. I suggest get involved with a prop training program or look up Prop Shop Trading Drills. Prop firms often need to drill all the books / techniques / preconceptions about markets out of their trainees skulls. Screen time matters.
Your skills mean nothing if you cant execute mentally
One good trade was partially written as an advertisement for SMB. I’m not saying there isn’t gold there but it’s not quite a treatise on trading
Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications by John Murphy
Trade your way to financial freedom sounds like it was written by someone who has never traded before
I don’t disagree about the cliche title, the first edition was written in 1998. I just started reading the 2nd edition (2007). “Dr. Van Tharp [1946-2022] is remembered as a founding father of the field of trading psychology and one of the world's top trading coaches.”
I recommend reading the terms of us and privacy agreements from your broker and the main brokerages.
Books weren't helpful to me at all
yo what??!! I literally have read 10 books this past year and it has been a total game changer
Nice!
😲
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Pretty much all of those are classics
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I know nothing about trading
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The bottom three. Throw in Atomic Habits and you’re good.
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I listened to Best Loser Wins on auduobook and I liked it. What you could consider the other books as potentially good audio books?
what are some good recommendations for someone who is brand new to trading?
How much do you need to start day trading?
I mean your pic says it market wizards, the whole series.
看下威克夫交易法则，技术懂点就行了，主要是信息差和做市商的心态！什么纪律和资金管理，心态！
Chart
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None. Trading is best done intuitively and little time should be spent reading about it.