Top 20 best day trading books
Every forex trader aims to become a successful day trader at some point. Day trading, unlike the regular way of trading requires a different mindset and an approach. One of the dreams of many traders is to day trade for a living.
The lure of financial freedom and independence from the 9 – 5 routine sounds very lucrative. Yet, more than half of traders who start off as day traders end up losing their capital. The reasons are many and it is hard to pin point the issue to just one.
Still, day trading is still the dream of many traders. So, the question is how does one become a successful day trader? In this article, we aim to answer this question by presenting you with the list of the top 20 best day trading books.
These books give insights from various perspectives. Day trading is more or less the same regardless of the financial markets that you are trading. There are some common concepts to day trading that you need to bear in mind.
The books outlined below are some of the best books on day trading. They can really open your eyes to the pros and cons of day trading. These books will shed light into how you can successful day trade and alerts you to potential pitfalls that might come your way as a day trader.
If your ultimate goal is to become a successful day trader, then these top 20 books on day trading make for a great start. You don’t have to spend money on any courses or fancy trading signals. At the end, you will be confident in your day trading abilities and be able to get another step closer to realizing your dream as a successful day trader.
Without much further ado, we present the top 20 best day trading books.
1. Day Trading and Swing Trading the Currency Markets
The book Day Trading and Swing Trading the Currency Market: Technical and Fundamental Strategies to Profit from Market Moves comes a respectable published, Wiley trading. As the name suggests this is focused on day trading for the currency markets.
Many traders have found this book to be highly engaging and is in fact one of the starting points for many day traders into the world of trading currencies or forex. The book is available as a paperback edition and is a bit higher priced. However, you can expect the content to be just as good as well.
The book explains how the currency markets work and gives a brief overview of the various technical indicators to use in your day trading. In this book, you will learn about how to profit from the currency markets on a day to day basis. It is very valuable if you want to become a day trading in the forex or the currency markets.
Written by Kathy Lien a well-known name in the forex industry, the book’s approach is very simple, and the language is easy to understand, making this book an easy read even for beginners in forex day trading. Kathy Lien is also the founding members of the BK Asset management company which focuses on investing in the currency markets.
2. Range Trading: Your Step-by-Step Guide to Consistent Range Trading Profit
Published in 2017, this is price at just under $4 for the Kindle edition. Written by Michael Young, range trading focuses on how day traders can profit even when the markets are ranging.
Ranging trading is a concept used by day traders. While long term investors and swing traders shun the topic of ranging markets, it can be a playground for day traders. The sideways movements from the price allows you to make immense profits. This book gives a step by step guide on how to read the markets and how to trade when the markets are ranging.
The markets, as you might already know tend to range nearly 80 percent of the time while they trend just 20% of the time. Still, many traders shun range trading as it can quickly eat into their profits.
The book Range Trading: Your step-by-step guide to consistent range trading profits tends to capitalize on this concept. Thus, it teaches you how you can range trade the markets and make money from it.
But readers should know that range trading can be risky. There is a potential to lose your money just as easily as you can make money. So, this method is not advisable for everyone. You will need to have a good foundation on the trading concepts and also be mature enough to handle your emotions before you can jump into range trading.
3. Mastering the Trade, 3rd edition: The Proven Techniques to Profit from Intraday & Swing Trading Setups
The third edition of the book The proven techniques to profit from intraday & swing trading set ups is an advanced book on day trading. The book expects that the reader has an understanding of how the markets work and also expects that you have some trading experience behind you. The third edition of this book is the latest and up to date.
The book is written by John F. Carter and is available as both a Kindle and a paperback edition. Given that the book is already into its third edition, you can expect to see that it is a well received book. It has lots of information about traders can exploit the market based on swing trading set ups.
The book is suited for both intraday traders as well as swing traders. The concepts are a bit more advanced is mostly inclined to day trading stocks. It explains how traders can read the VIX or the volatility index charts and be prepared for trading opportunities in the markets.
Many day traders focus on just one market and often miss the signs of inter market relationships. The VIX is a good indicator on whether the stock indexes can be bullish or bearish. As a result, applying the study of VIX to your technical trading is something that can help you improve as a day trader.
In this sense, The proven techniques to profit from intraday & swing trading set ups can show you insights into markets that you think wasn’t possible. Day trading is more about understanding what the markets are doing rather than just routinely buying and selling securities or indexes and this book does a great job in opening your eyes to something new.
4. The Art of Short Selling
Written by Katheryn F. Staley, The Art of Short selling is a book that features how day traders can capture the current trends in the financial markets. This book emphasizes heavily on the stock markets and hence gets the title the art of short selling.
The book has received lot of rave reviews as it talks about how traders can hedge their trades and explains the use of different derivative products that you can use to protect your day trading strategy profits. There are lot of case studies and examples.
The book is a bit more tuned towards the savvy investor who wants to dabble with day trading. It goes a bit beyond the traditional day trading strategies and introduces readers to the concept of using options as a means to hedge risk and to make money in falling markets.
As you can expect, the book is a bit steeply priced at $54 for a paperback edition. The Kindle book is also not that cheap. There is a certain level of knowledge about the markets that you need to have before you can lay your hands on this book.
Many in the trading world tend to shun the short sellers especially in the equity markets. In fact there are also some SEC guidelines and rules to govern and regulate short selling. Short selling is all about borrowing the security from your broker to sell it for a profit.
In this book, The Art of Short selling the methods outlined talk more about various hedging tools that you can use at your disposal in order to make money by selling short.
5. The Disciplined Trader: Developing Winning Attitudes
Trading psychology is an important aspect of day trading. While there are many books that focus on trading strategies, risk management and so on, The Disciplined Trader takes a different approach to day trading. As you might have guessed, it is all about trading psychology.
Having to maintain your calm during the market up and downturns can be easier said than done. This book, written by the famous Mark Douglas trains you on how to manage and handle your emotions when you are day trading.
Because day trading is so fast paced, you can end up letting your emotions get the better of you. This is where the book, The Disciplined trader can be very helpful. Mark Douglas is also well known for his other books on trading psychology such as Trading in the zone. We also recommend this book in conjunction with The Disciplined trader.
While one might put this book aside because there are no lucrative trading strategies or money making methods, it is still important especially if you want to keep your cool and be consistent at winning.
If you are serious about day trading, then you should certainly focus quite bit of your attention into the psychological aspects of day trading.
6. How to Day Trade for a Living: A Beginner’s Guide to Trading Tools and Tactics, Money Management, Discipline and Trading Psychology
This book which was published in 2017 is relatively new. It is written by Andrew Aziz and Kevin Foley. It is cheaply priced, and you can download either the Kindle edition or order the hardcover edition of the book.
How to day trade for a living: A beginner’s guide to trading tools and tactics, money management, discipline and trading psychology covers all the aspects of trading. As the title itself suggests, this book takes a complete 360-degree approach to day trading the financial markets.
The interesting part is that this book is also available as an audiobook. However, considering the fact that there are lots of charts and illustrations in the book, a kindle or a paperback edition is more recommended for visual guidance.
The book focuses on a few trading approaches such as the ABCD patterns, momentum and reversal trading. You can understand the finer concepts of these day trading strategies if you have come across them before. Because the strategies include both patterns based trading and indicator based trading there is a bit of everything for everyone.
The day trading strategies can be a good starting point. Many traders tend to shun patterns when it comes to day trading. This is where this book does a good job of explaining the concepts in simple terms. You might that some of the strategies are actually very simple.
If you are looking for something different, then the book How to day trade for a living: A beginner’s guide to trading tools and tactics, money management, discipline and trading psychology is definitely worth reading.
7. High Probability Trading Strategies: Entry to Exit Tactics for the Forex, Futures, and Stock Markets
The book High probability trading strategies is authored by Robert C. Miner. If you ask around, chances are that many of your day trading friends will tell you about the wealth of information that is available in this book. In fact, this book is highly recommended if you want to take your day trading to the next level.
There are a lot of trading strategies that are outlined in this book. For the most part, Robert C. Miner relies heavily on the use of Fibonacci levels in his trading approach. You can take a few things from his trading approach.
High probability in trading is simply picking set ups that tend to become winning trades. When you focus only on such set ups, you automatically start to discipline yourself. You will also tend to be more consistent in making profits from day trading.
While there are different trading strategies to choose from, you can focus more on the aspect where Robert C. Miner talks more about identifying the high probability set ups. This is something that you can apply to your existing day trading strategy, if you have one already.
The methods outlined in this book focus mostly on day trading the entry and exit of the traders. Therefore, it is a bit technical in reading and understanding this. This book is not suited for beginners and the book expects that you already know a few concepts of day trading and understanding indicators and price action.
The trading strategy which uses Fibonacci retracement levels is something worth taking a look at if you are struggling with your current day trading strategy. Robert C. Miner is a well-known name among the day trading circles. In fact, this is one of his most popular books on the topic.
8. Day Trading Stocks - The Market Whisperer: A New Approach to Stock Trading
If you want to day trade the stock markets, then The Market Whisperer is an interesting book worth reading. The book is written for the average reader and expects no prior knowledge about the financial markets. In a way, this book is a great read as it introduces you to the stock markets and quickly moves on to how you can day trader.
Written by Meir Barak, the book aims to teach you some simple day trading concepts. While it is possible that they can bring you some profits, it is up to you to follow the rules and the principles outlined in the trading strategy mentioned in this book.
Many of the verified testimonials on the book reveal how users have found valuable information about day trading. As mentioned, it primarily focuses on the stock markets but also on the S&P500 index and the NASDAQ. You can use the information in this book on these indexes and apply it for example to the futures markets or for trading the index CFD’s.
The book doesn’t really give out much information, but it certainly makes for a good casual read. If you are interested to see the different perspectives from traders in day trading, this book can be quite a good read.
9. Day Trading: A Comprehensive Beginner’s Guide to get started and learn Day Trading from A-Z
There are some books that just introduce the reader to the concept of day trading. Then there are books that walk you through from the introduction to helping you make your first day trade.
A comprehensive beginner’s guide to get started and learn day trading from A-Z is exactly does. Staying true to its title, this book progresses from introducing the reader to the basics of day trading to showing you how to day trader.
Of course, there are no fancy trading strategies outlined in this book, but there are lot of examples that will help you understand all that you need to know about day trading. If you are just considering to day trade, this is a highly recommended book.
It is available as both a paperback and a kindle edition as well and does not cost a fortune. For the wealth of information that is available in this book, it is well worth your time to read and understand how day trading really works.
The book is written by John Reigner. Not much information is available, but according to Amazon, this book ranks #18 in day trading and online trading, which speaks for itself.
One thing worth mentioning is that you won’t become a super star day trader after reading this book. At its very least, you will be more educated about how day trading works and you can then build upon this information.
10. A Beginner’s Guide to Day Trading Online
A beginners guide to day trading online is ideal for the beginners in day trading. Priced appropriately, you can purchase this book as a hardcover edition or even cheaper as a kindle eBook. The book has received a lot of kudos for its simplistic approach to day trading.
Therefore, it does a very good job of introducing the reader to the concepts of day trading without getting too technical. As a result, this makes the book reading very enjoyable. A lot of concepts are explained in the book which you will no doubt come across if you want to pursue to become a day trader.
This is the second edition of the book and it was published in 2007. Some might think that this is still outdated, but the fact is that the concepts used in day trading hasn’t changed much over the past 11 years.
The book ranks fairly high in various sections such as trading and analysis. It was written by Toni Turner. She is a fairly well-known woman in the trading circles and often appears on various financial TV networks such as CNBC, MSNBC and Bloomberg.
11. The Simple Strategy – A Powerful Day Trading Strategy for Trading Futures, Stocks, E.T.Fs & Forex
Written by Markus Heitkoetter and Mark Hodge, this book focuses mostly on day trading ETF (exchange traded funds) and the forex markets. The focus is on having a simple but a robust day trading strategy to help you win the game.
The authors share their day trading strategy in the book which, according to them is ideal to day trade futures, ETFs or forex. The focus goes really into the trading strategy which talks about the intraday trends and how to capitalize from the volatility .
To be successful with day trading, you need to focus on the price of the day, which is what this book is all about. If you are falling short of developing a trading strategy to day trade the markets, this book gives you insights into a simple trading strategy that you can start with.
Of course, as you grow more familiar, you can then personalize this day trading strategy with any specific indicators of your choice. The indicators used in this trading strategy comprise of the very simple and commonly used indicators such as the RSI and the MACD .
12.Digital Day Trading: Keep Moving from One Winning Stock Position to the Next
How can you make consistent profits with day trading every single day? How can you manage to keep your cool and your emotions in check yet stay consistent? If you are asking these same questions, then Digital day trading: Keep moving from one winning stock position to the next has the answers for you.
Available only as a paperback edition this book shows how you can build consistent income over time by day trading. Of course, a lot of the pages are dedicated towards keeping a cool mind while trading. Thus, it emphasizes on the importance of psychology while trading.
The book has also received many positive endorsements which is a testament, to the contents of this book. However, as the title suggests focuses mostly on day trading stocks. But having said that, you can apply the concepts of psychology outlined in this book to any markets that you are trading.
Whether you are trading forex, or stocks or futures, consistency is the key to making profits as a day trader. The book is authored by Howard Abell who is a CEO of Invest2Know.com which is a financial website.
13. How to Day Trade Stocks for Profit
This book comes with a catchy front page and stays true to it. The book however tries to upsell itself with various testimonials. It is hard to say if someone really made a big profit or whether the book helped someone else to leave their day job.
Whatever the testimonials may be, the book, How to day trade stocks for profit is all about day trading the stock markets. Stocks work a bit differently compared to other markets. But there are a lot of day traders as well. You can start to build a significant income by day trading stocks. This is what the book is all about.
But bear in mind that day trading stocks requires some adherence to U.S. regulations, especially if you are a U.S. citizen. The book is packed with examples and walks you through from explaining what day trading is all about to making your first day trade.
The author is not that famous but according to his bio, he quit his day job and began his career as a day trader. We do not recommend that you follow his footsteps, however.
14. Come Into My Trading Room: A Complete Guide to Trading
One of the most famous books about day trading is no doubt, Come into my trading room. Written by Alexander Elder, this book walks you through a professional day trader. Alexander Elder is a well-known and a respected individual in the trading community.
He has authored many books and also developed proprietary trading indicators that many day traders use today. The main focus of this book is the three M’s; Mind, Money, Method. And it aptly captures the element of the success with day trading.
Focusing on the three M’s, Elder stresses the importance of taking a complete overview of the markets when it comes to day trading. You will learn a lot about day trading, and you can certainly takeaway a lot of tips and tricks that will improve your day trading.
In this book, you can learn how Elder trades as he also talks about the psychological aspects of day trading which can determine the outcome of his trades. If you are looking for someone to share their day trading secrets and if you want to learn how professional’s day trade, then this is a must read book.
15. All About Day Trading
All about day trading is a book that comes from the All about series. This is similar to the ..for dummies series. The book is published by McGraw-Hill a reputable publisher known for hand picking its authors. Therefore, this is a sophisticated book that has a bit of everything for everyone.
As you can imagine, All about day trading gives a layman’s perspective to the world of day trading. Therefore, this book is recommended if you are a beginner to day trading the financial markets. But having said that even if you have some level of experience in day trading, you could always pick up this book.
The book covers some of the most commonly asked questions about day trading. If you have been wondering what day trading is all about, or if you are curious to know how day trading is so different, then this is the book to have. The book allows you to naturally progress to the next level of day trading.
Explaining the concepts in simple terms, All about day trading makes for an interesting and an enjoyable read. The book is written Jake Bernstein who has authored over 44 books on day trading and investment. Some of his books are best sellers. Bernstein runs his own website and is an economist and a financial researcher.
The book is available as a paperback edition and also a kindle edition which is a bit cheaper.
16. Financial Freedom Through Electronic Day Trading
Van K. Tharp is a well-known name in the day trading circles. He launched a unique trading course and he is internationally renowned. Van Tharp also has his own website and covers topics from psychology to strategies and self-assessment tests.
Therefore, there is a lot of weight when he writes a book. The book Financial free through electronic day trading gives an up to date perspective of electronic day trading.
Van Tharp talks about the risks of electronic day trading and how technology can at times create obstacles for you. He also talks about the emergence of automated trading strategies which can times lead to erratic price movements in the market.
The book which is also written by Brian June gives you the tips and tricks that can help to improve your day trading. This book expects that the reader already has some experience with day trading. It can take your trading to the next level. There are tons of informative nuggets that you can pick and apply to your day trading strategies.
The book is available as both a Kindle or a paperback edition and costs just close to $35.00
17. Day Trade Online: Start Trading for a Living
The title Start trading for living promises optimism for the day trader. If you are struggling with your day trading, then chances are that your trading will improve after reading this book. Written by Christopher A. Farrell, Start trading for living focuses on the challenges and obstacles one faces as a day trader.
The book teaches you how you can look at various stocks and pick the ones that are most promising. This book is mostly geared towards the stock markets. But if you are a retail trader, chances are that you can also apply the techniques to the forex markets as well.
The book also goes on to alert you to the dangers and the pitfalls of trading with online brokers. Not all are dodgy, but it gives you the general outline on the key points to focus on which could ring alarm bells at a later stage.
Not many traders pay too much attention to the brokers that they trade with. This book will highlight the importance of this. Having a good broker is one of the key things that will determine your success as a day trader.
18. Day Trading: Beat the System & Make Money in any Market Environment
Written by Justin Kuepper, this book is available as a paperback or as a kindle edition. We recommend the Kindle edition as it costs just under $3.00. The book Beat the system & make money in any market environment is more suited for the beginner day traders.
There are quite a lot of misconceptions about the markets and day trading. This book aims to dispels that myth. The title can be misleading a bit as the first impression you get after reading the title is some Holy Grail trading system that can make you consistent profits.
On the contrary, the book focuses on the important aspects of day trading which starts from the psychology about trading to building your trading strategy and risk management. The risk management which covered towards the end gives insights that are suitable for not just beginners to day trading but also to all levels of day traders.
The book is presented in simple English and there are lot of examples that will help you along the way.
19. Advanced Techniques in Day Trading: A Practical Guide to High Probability Day Trading Strategies and Methods
The Practical guide to high probability day trading strategies is a book that acts like a guide for you to help you with day trading. It gives a in depth look at the tools that you need to be successful as a day trader.
There are also extensive lists of day trading strategies to help you get the practice. It is up to the reader to test them out and either adapt one of the trading strategies or use it as a way to practice. You can of course build your own day trading strategies after following the contents of this book.
The book addresses just about every aspect that you should know about day trading. Be it risk management, maintaining a trading journal or how to prepare yourself for the trading day ahead. The book can get a bit complex at times. But it expects that the reader already has knowledge about the markets.
This book is one of the top best sellers in investment and analysis and in day trading lists. The author of the book, Andrew Aziz also runs a website that offers educative articles and information about day trading the financial markets.
20. The 1 Hour Trade: Make Money With One Simple Strategy, One Hour Daily (Langham Trading)
This book authored by Brian P Anderson is available both as a paperback or in the Kindle version. The book gives a unique view on how to trade for just one hour a day to build consistently profitable strategies.
Many traders feel that in order to make money with day trading, you need to be glued to your computers all day. This is not the case as the book proves to you that spending just an hour a day in the markets can give you great results.
One of the key things to bear in mind about the markets is that it about consistency. This book outlines a strategy that you can use to get started with. It is no holy grail strategy that will make you rich overnight, but on the contrary it can be used as a good way to build this habit.
The book, The 1 hour trade outlines how you should start your day trading by planning your trades, scanning the markets and preparing a trading plan. It helps you to become a disciplined trader and to approach the markets with a plan.
The top 20 books on day trading – Conclusion
To conclude, the above books are one of the best books on day trading the markets. Whether you want to day trade forex, futures or stocks, our top 20 best books on day trading has everything that you need to know to get started as a day trader.
While many traders just jump into trading, we recommend that you should in fact spend some time in reading at least some of the books mentioned here. Day trading can be lucrative but also very grueling.
In this context, the above books on day trading can help you to become a better trader and one that is more informed and mature in their outlook to day trading the financial markets.