Best Day Trading Books For Every Trader

Books on day trading serve as comprehensive guides to the intricacies of intraday trading. Practicing on a demo account without a solid understanding of the theoretical underpinnings is akin to embarking on a journey through a forest without a map. A book is a comprehensive manual that captures the experiences of numerous successful day traders who have elevated their skills from a novice level to a professional standard.

This review encompasses a wide range of books on day trading, addressing fundamental concepts, price chart analysis, manual and algorithmic trading strategies, trading psychology, and emotion management techniques.

The article covers the following subjects:

Major Takeaways

• The most engaging book on day trading for beginners is A Beginner’s Guide to Day Trading Online by Toni Turner. A quick review of the contents suggests that the author approached the book with a good sense of humor and dedication.
• The recommended book on day trading for professionals is High-Frequency Trading Strategies by Irene Aldridge. It aims to equip traders with the skills necessary to progress from measured intraday trading to the psychologically strenuous practice of scalping with automated trading using advisors.
• The shortest book on technical analysis techniques is Range Trading by Michael Young. A mere 25 pages are dedicated to trading principles and determining price ranges. The content is succinct and focused.
• One of the most voluminous books on trading is Trading Price Action Trends by Al Brooks. The book has nearly 500 pages and covers virtually everything about stock trading, with an emphasis on identifying trends and patterns. It serves as a comprehensive desk encyclopedia for professionals.
• The best book on day trading is the one that provides practical knowledge, enabling readers to maximize their earnings while minimizing risk.

Day Trading Books for Beginners

In this section, you will discover authors and their Forex trading books. They will inform you about the art of trading in simple language and an engaging manner, sometimes with a sense of humor, and, most importantly, in a way that is easy to understand without specific terminology and knowledge. Their advantage is their clarity and comprehensive coverage of the essential concepts of day trading. After reading at least some of these books, you will find it easy to move on to more advanced books that may have seemed difficult before.

A Beginner’s Guide to Day Trading Online by Toni Turner

This is an excellent book on day trading for those who are unfamiliar with the basics of trading. It is written in simple language with a touch of humor that draws the reader in from the very first pages. The author guides the reader step by step from the most theoretical basics to practical examples of day trading, showing how to earn money in the stock market with minimal effort.

This book will provide a thorough overview of all the nuts and bolts of stock exchanges, the history of Wall Street, the various trading systems, and their development. It will also offer insights on creating a robust risk management system to mitigate unforeseen losses.

Key takeaways:

• Safeguard your capital, trade for the sake of good trading, not for money, and leave hope and wishful thinking behind. Your mindset is one of the keys to unlocking success.

• Day trading is a business. Your results depend on how you approach it and how you prepare for it.

• The trend is your friend. Look for resistance and support breakouts, and follow the cyclical nature of price trends. You do not need complex technical indicators. Moving averages, momentum, and trading volume are the basic tools of a smart investor.

The 14 chapters of this book can be read in one sitting. Despite its focus on stock trading, this book is one of the best books on day trading, thanks to its style of writing and comprehensive coverage of the basics of trading.

Day Trading For Dummies by Ann C. Logue

The path to becoming a professional trader is open to anyone. To do so, it is essential to have patience, nerves of steel, and a well-worn copy of Day Trading for Dummies. In this book, the author provides a detailed guide to becoming a professional in the field. It covers a wide range of topics, including classic profitable strategies and high probability trading, without delving too deeply into minor details.

The book’s main features:

• Focus on risk and money management. In addition to classic rules, the book describes non-standard risk optimization tools.

• Updated information on SEC rules and requirements, including tax legislation.

Some traders call this book a beginner’s guide and a smart investor’s handbook.

How to Day Trade for a Living by Andrew Aziz

This Canadian trader’s books are among Amazon’s top 100 bestsellers on trading. It is particularly noteworthy because it was written after the COVID-19 pandemic. The case studies it examines demonstrate how it is possible and essential to be prepared for black swan events.

Main highlights:

• Day trading stocks requires discipline. You and only you lay the foundations of your trading system. Trading cannot be learned from books by repeating someone else’s actions. You create your trading style. The book only guides you and points out possible paths.

• A clear and logical algorithm for selecting stocks for short-term trading is the key to success. The book focuses on the peculiarities of the stock market and the principles of selecting stocks for trading.

• Risk management is not just about stop-loss orders. It is also the ability to anticipate the consequences of black swans in advance.

This book is a must-read for beginner traders who want to get a solid understanding of day trading and learn how to put it into practice. You will also find it handy if you want to learn how to develop simple and effective trading systems and get a feel for market psychology.

How to Day Trade Stocks for Profit by Harvey Walsh

The book is entirely devoted to day trading, including blue chips, penny stock trading, etc. What makes this book unique is its approach to presenting the material to beginners. Walsh tries to avoid complex terminology and interpretations that are specific to professionals. Part of the book is devoted to theory, which smoothly transitions into practical examples. The most interesting part is 14 Golden Rules of Trading.

You will learn:

• How the step-by-step algorithm for making money on the stock market works, even when stocks are falling in price en masse, and how to earn from the stock market during a general panic.

• How trading penny stocks differs from trading stocks of large companies and how to make profits from it.

• How people who make money differ from those who constantly lose it.

• How to permanently get rid of fear and emotions in trading and remain a rational investor in any situation.

Walsh stresses that successful day trading has nothing to do with gambling. It is a well-organized process that relies on thorough market analysis and strict adherence to risk management rules. The author advises novice traders to prioritize simplicity and implement effective day trading strategies. The key to achieving success is to engage in consistent and dedicated practice.

All About Day Trading by Jake Bernstein

As Jake Bernstein’s book illustrates, each author has their own perspective on trading. It focuses on the technical theory of the currency market, including the basics of technical analysis, the nuances of trading on news, and the specifics of fundamental analysis. It examines various technical indicators, ranging from simple moving averages to advanced multi-purpose trading tools. It also provides practical advice on position trading.

From this book, you will learn:

• How to trade against the trend during sharp price movements using resistance and support levels.

• How to use morning volatility and follow the trades of major players.

• How to develop a risk management model for specific goals.

• How to overcome the psychological barrier of three consecutive losses.

This book serves as a handbook for novice day traders. The most effective way to learn is by opening a demo account so you can apply what you have studied to the Forex market.

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Start Day Trading Now by Michael Sincere

This book is a valuable manual for day traders seeking to optimize their strategies and achieve success in the market. It focuses on the steps to take prior to opening your first trade. The guide covers essential topics such as the necessary equipment and software, the available account types and their corresponding strategies, the calculation of the minimum deposit amount, and more.

Main takeaways:

• For optimal results, you should allocate at least three months to the initial training phase, engaging in daily practice for three to four hours. Following this preparatory period, you will be ready to proceed to a live trading account. A trading career is typically established over the course of many years.

• A promising asset should have a minimum turnover of 1 million shares per day.

• You should close the trading platform after three consecutive losing trades. This will help you regain your emotional balance.

Day trading is a professional field, not a game of chance. Sincere cautions that many novices perceive trading as a form of gambling, relying on chance outcomes. He advises that trading be approached as a business, with clear rules for entering and exiting trades. These rules should include keeping a trading journal—recording every trade, the reasons for entering and exiting. He also suggests setting daily loss and profit limits.

Advanced Strategies and Insights For Day Trading

This section features books that are well-suited for traders with above-average experience. These works examine specific real-world scenarios using non-standard, specialized tools, many of which were designed by the authors, and devote attention to fundamental analysis. However, beginners may also find value in these books.

Trading Price Action Trends by Al Brooks

This book is widely regarded as a leading reference on trading, serving as a comprehensive encyclopedia of trend trading. The author classifies market trends into various categories, each with distinct characteristics and, consequently, different analysis models. Each trend has several stages, each with its own signal search algorithms. The book places a separate emphasis on candlestick formations. Brooks asserts that patterns are a more effective trading tool than technical analysis methods because they are based on the predominant psychology of the market.

You will learn:

• What are the trends in the currency market and how to identify them. How to find long-term trends and get the most out of short-term trends.

• How to start making profits on 5-minute trades, no matter which direction the market is trending.

• How to filter out false signals and what volatility has to do with it.

This book is 500 pages long. Even sophisticated professional day traders periodically reread it, finding new insights for their own practices.

How to Day Trade: A Detailed Guide to Day Trading Strategies, Risk Management, and Trader Psychology by Ross Cameron

Ross Cameron is the founder of Warrior Trading, an online intraday trading education center launched in 2012. This book is the result of his accumulated knowledge and experience with his students. Its main thesis is that “a day trader is two things: a hunter of volatility and a manager of risk.” The author explains how to find predictable volatility and how to use capital management tools to increase the chances of winning trades.

The book covers the following:

• All basic day trading strategies, including momentum trading using horizontal and vertical volumes, trading on reversals, breakout trading strategies, and pullback trading.

• In the context of risk management, the book offers position sizing and stop-loss distance calculation models that are tailored to the specific risk profile and market volatility.

• Emotion management. There are several techniques that can be used to manage emotions, maintain self-control, and avoid negative attitudes.

This book is a bite-sized guide to trading in the financial markets. It is a great intro to day trading, giving you a practical understanding of how it works and covering all the basics: the essence of day trading, trading platforms, advanced trading strategies, capital management, and trading psychology. It is meant for traders with entry-level and intermediate experience.

Mastering the Trade by John Carter

John Carter is recognized as a prominent figure in the field of combining trading strategies, applying them to various financial markets. He strategically integrates currencies and indices with futures and FX options trading to hedge against potential risks. The book focuses on non-standard forecasting methods and tools. It examines analysis models based on the VIX and Skew indices, algorithms for studying markets using software, methods of mathematical and statistical forecasting, and more.

Key concepts:

• Psychology is a critical component of professional success. Trading entails more than just analyzing charts; it also involves emotional control, discipline, and the ability to cope with stress.

• Unconventional trading strategies can provide a competitive advantage. The author analyzes specific setups such as Gauss, Tail Impulse, Bread and Butter in swing trading.

• The significance of trading volumes and volatility. Practical examples of using data on horizontal and vertical volumes and volatility to find entry and exit points for trades are analyzed.

This book is a go-to for traders of all levels. However, it will be particularly useful for those who trade options, futures, and stocks on short-term time frames.

Stock Trading Wizard: Advanced Short-Term Trading Strategies for Swing and Day Trading by Tony Oz

This book is arguably one of the most comprehensive guides to swing trading, suitable for both intraday and medium-term trading. The primary focus of the book is the analysis of stock market price charts, which is reflected in the numerous illustrations. The author also devotes considerable attention to stock screeners and screening formulas to select stocks for diversified portfolios.

The book also covers the following:

• Types of chart patterns in the stock market. In addition to classic patterns, the author describes candlestick formations that are specific to the stock market.

• Types of price manipulation and how to use them. The book examines examples of how institutional investors affect stock prices and how retail traders can use this to their advantage.

• Advanced technical and fundamental strategies for stock trading.

This book is suitable for those interested in different trading styles. At first glance, it may seem difficult to comprehend, as the author strives to explore the topic in depth, using professional terminology.

High-Frequency Trading Strategies by Irene Aldridge

This book has been recognized as a leading study of algorithmic trading and high-frequency trading (HFT) strategies, offering practical guidance for professionals in the field. The author reveals the mathematical, technical, and practical aspects of scalping and high-frequency trading, provides examples of HFT strategies, and discusses risk optimization.

What you will learn after reading this book:

• What is digital day trading?

• What are the main differences between high-frequency trading and scalping from other trading styles? Why is scalping considered a high-risk trading strategy?

• How to build a trading system based on the book of orders using statistical models. What is arbitrage and the price acceleration strategy?

• How to create high-frequency trading advisors that do not violate regulatory requirements.

The book is aimed at professional traders, algorithmic software developers, algorithmic traders, and analysts who develop forecast models based on mathematical and statistical algorithms.

Range Trading by Michael Young

This concise volume, spanning a mere 25 pages, is meticulously curated to ensure it contains only essential information. Michael Young provides a thorough overview of the principles of range trading and subsequently undertakes a comprehensive analysis of the trading system. The book provides a clear and detailed exposition of the principles for determining the trading range, opening and closing trades, as well as risk management strategies. The author also emphasizes the importance of trading volume in confirming signals and explains how liquidity affects price fluctuations.

You will learn:

• How to build a range trading algorithm, how to determine the width of the range in the currency market, identify support and resistance levels, and determine their relevance.

• How to find the best points to enter the market and spot false breakouts and rebounds.

• What are the potential risks, how to minimize them, and how to keep your profits safe.

This book will help beginners understand the basics of range trading and more experienced traders improve their skills in finding entry and exit points.

Trading Psychology and Emotional Discipline For Day Trading

Regardless of your trading experience, you should be able to control yourself and understand how the market works if you want to succeed. If you understand how the market behaves, you can predict trends more accurately. However, even this might not be enough to ensure success. Sometimes, excitement and the desire to earn more can lead to risky behavior and losses. This section reviews books on day trading that will help you maintain emotional control in any situation and understand trading psychology.

Trading in the Zone by Mark Douglas

This book does not offer trading systems, technical or fundamental analysis. It is dedicated entirely to the psychological aspects of trading. Mark Douglas suggests that success is achieved through the ability to organize one’s thoughts, distinguishing between essential elements and secondary details. The book’s guiding principle is “Master the market with confidence, discipline, and a winning attitude.”

Main takeaways:

• Embrace uncertainty. The market is inherently unpredictable. Sometimes, it is impossible to completely control a trade, and the outcome depends on your ability to manage risk.

• Focus on the trading process. Avoid excessive focus on specific trades, irrespective of their outcome. It is crucial to have a well-defined trading plan and make informed decisions.

This book on day trading will be invaluable for those who wish to take a respite from theory and technical aspects and delve into the realm of self-discovery and mindfulness.

The Disciplined Trader by Mark Douglas

“I sincerely feel that success in trading is 80 percent psychological and 20 percent one’s methodology, be it fundamental or technical,” Mark Douglas says, setting the tone for his book right from the start. The author explains in detail why many traders struggle with psychological barriers that prevent them from achieving their financial goals.

The book consists of four parts:

1. An overview of the psychological qualities necessary for every trader. The author examines positive and negative characteristics and their degree of influence on decision-making.

2. Ways to become a professional trader and obstacles that arise. Why many traders give up early.

3. Step-by-step guide. What traders need to change in their behavior to achieve success. Working on your own mindset.

4. Recommendations. How to develop essential skills necessary for a professional trader.

This book on day trading can be useful not only for traders—many of the techniques described can also be applied in everyday life.

The Best Day Trading Books by Category

Every book is valuable and engaging in its own way. However, it is not always possible to devote time to reading dozens of books when you want to see practical results quickly. This table outlines what I consider to be the five best books on day trading.

Book	Why you should read it
A Beginner’s Guide To Day Trading Online by Toni Turner	The best book on trading for beginners, written in an engaging and entertaining style.
Range Trading by Michael Young	The shortest guidebook, 25 pages long, briefly covers all the essentials of range trading.
Trading Price Action Trends by Al Brooks	The most comprehensive book on intraday trading, spanning nearly 500 pages.
High-Frequency Trading Strategies by Irene Aldridge	A reference book for professional high-frequency algorithmic traders.
Mark Douglas	It is difficult to single out any particular book by this author. In each of his books, he brilliantly describes market behavior and psychology.

You may also be interested in the following books, although they are not discussed in this review:

• The Black Swan: The Impact of the Highly Improbable by Nassim Taleb.

• Japanese Candlestick Charting Techniques by Steve Nison.

• Way of the Turtle by Curtis Faith (Richard Dennis is the author of the strategy).

• One Good Trade by Mike Bellafiore.

• Reminiscences of a Stock Operator by Edwin Lefèvre.

• The Intelligent Investor by Benjamin Graham.

• Getting Started in Technical Analysis by Jack Schwager.

• How to Trade in Stocks: The Livermore Formula for Combining Time Element and Price by Jesse Livermore. Each of Jesse Livermore’s books can be called a unique trading manual.

• Back to School: Question & Answer Session with Business Students by Warren Buffett.

• One Up On Wall Street by Peter Lynch.

• The Small Encyclopedia of Trader by Eric Neiman.

• The Psychology of Trading: Tools and Techniques for Minding the Markets by Brett Steenbarger.

Embarking on a career in investment and trading is inherently linked to books as a crucial source of knowledge. It is essential to prioritize reading extensively on the subject, and then apply what you’ve learned through hands-on experience. This will equip you with the professional skills you need to thrive in the market.

Conclusion

There is no need to read 20+ books on day trading before opening a demo account. It’s like acquiring three degrees but never beginning to work. It is essential to strike a balance between theory and practice.

Here are some useful tips on how to choose books:

• Consider your primary interests. If you are new to trading, it is better to choose a book that provides a general overview of basic concepts, presented in a clear and accessible manner. A voluminous book with complex terminology will likely leave you discouraged about trading.

• Move slowly from general to specific. It is important to avoid diving into a specific strategy immediately. Firstly, learn how to identify trends, build channels, and which data analysis tools can be applied. Once you understand the Forex market structure and principles, you can move on to more specific aspects of trading.

• Combine theory with practice. Read the book while trading on a demo account, practicing trading techniques as soon as possible. Sometimes, the book’s content may not align with reality, as it appears to be generated by AI, which could impact its perceived value as a read.

The most important thing is to take the first step and be patient. Learning requires time and effort. Your ability to persevere, learn from mistakes, and exercise self-control is essential to becoming a successful trader.

Best Day Trading Books FAQs

What is the best book to read about day trading?

This question can only be answered by someone who has read extensively on trading theory and has experience in trading. Each of the books described in this review merits your attention. First, select the one that best aligns with your preferences and seems engaging.

What is the number one rule in day trading?

Follow risk management rules. Do not move your stop order on a losing position; do not use averaging or Martingale. Also, do not open trades with maximum leverage; close positions before the trading session ends. Exercise caution when news is released. Do not give in to excitement and emotions.

Which is the number one book for traders?

Each book is valuable, engaging, and distinctive in its own way. Each author has a distinct style, practical experience, and trading systems and tools. Therefore, the decision of which book is best for you is yours and yours alone.

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance broker. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2014/65/EU.

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