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change day It seems like a fairly simple concept: you buy a stock or other asset, then sell it on the same day to maximize any upside moves that occurred during the day. However, day trading well enough to make a profit is not as simple as it seems. In fact, it can be quite difficult. That’s why learning as much as you can through books and other resources is crucial.
We have chosen eight books to prepare you for success in day trading. Here are the best day trading books, ranging from beginners to advanced traders.
Best for Beginners: ‘Beginner’s Guide to Online Day Trading’ by Toni Turner
Toni Turner walks you through everything a beginner needs to know about day trading: pros and cons, trading platforms you need for day trading, strategies, stock picks, and more. She also discusses how to decide whether to hold a stock overnight (also known as swing trading) instead of selling it on the same day.
He writes on dry topics in an engaging style and makes complicated jargon relatively easy to understand.
Best for Beginners, Runner-Up: ‘Start Day Trading Now: A Quick and Easy Intro to Making Money While Managing Your Risk’ by Michael Sincere
Michael Sincere divides his book into two parts: “Getting Started” and “What Day Trading Is Really Like.”
“Getting Started” has five chapters that teach you the basics of day trading, such as understanding what day trading is and reading charts with various patterns. Part 2 focuses on the realities of day trading (including the bad!) and looks at professional day traders. Candid also includes a glossary of terms and a list of resources for when you’re done reading.
Best for Learning Strategy: ‘Technical Analysis of the Financial Markets: A Complete Guide to Trading Methods and Applications’ by John J. Murphy
This book focuses on technical analysis, which is the most common type of analysis used for day trading. Technical analysis looks at the performance history of a stock (or other asset) to indicate how it might perform in the future. This is different from fundamental analysis, which looks at a company’s current financial condition to predict how it will perform.
There are several types of strategies that you can use to implement technical analysis in day trading. John J. Murphy dives into continuation patterns, candlestick patterns, reversal patterns, and more. And while these terms may sound like gibberish, they won’t after reading the book!
You should already have some basic knowledge of day trading before reading this book. Many people focus on stocks when day trading, but Markus Heitkoetter also introduces you to trading other types of assets: ETFs, futuresY foreign exchange.
Learn a simple strategy for day trading and then apply that strategy to all of these asset types. In this way, you can diversify your portfolio.
Best for Day Trading Psychology: ‘Trading in the Zone: Dominating the Market with Confidence, Discipline, and a Winning Attitude’ by Mark Douglas
Day trading can be exhausting, and for many people, it’s a full-time job. “Trading in the Zone” focuses on the psychology behind day trading. This includes what might attract you to day trading in the first place, as well as the state of mind you need to maintain in order to be a successful and healthy trader.
Day trading is also a risky investment strategy. Mark Douglas explains how to understand and mitigate risk and how to react to gains and losses in the market. To be a long-term profitable day trader, the psychology behind trading can help you stand out.
Best for Learning About Risk: ‘The Truth About Stock Day Trading’ by Josh DiPietro
As mentioned above, day trading is risky. It has the potential for massive profits, but also for significant losses. In this book, Josh DiPietro helps you understand what you’re getting into with day trading. It could be a good book to combine with “Trading in the Zone” – the combination could help you understand the risks, but also how to react to them.
DiPietro explains how to know if you’re ready to day trade, both monetarily and with experience. He also writes about how set stop-loss orders so you don’t lose too much money, how to pick the right stocks, and what a bad trading day looks like.
Best for a comprehensive overview: ‘How to Day Trade for a Living’ by Andrew Aziz
Andrew Aziz is a big name in the world of day trading. his program bull bear tradersheads our list of best day trading courses. Reading “How to Day Trade for a Living” is a great way to get some of the information in this course for a lower price, and maybe decide if you want to enroll in his full course.
This book addresses multiple topics for new day traders. Aziz explains how day trading works, how to choose stocks, how to choose a day trading platform, and more. Some of the other books on our list delve into these topics, but this book gives a good overview of multiple parts of day trading.
Best for Advanced Day Traders: ‘Advanced Techniques in Day Trading’ by Andrew Aziz
Yes, another Andrew Aziz book! However, unlike “How to Make a Living Day Trading”, this one is for people who already have experience day trading and want to take things to the next level.
You’ll learn about stock scanners, which scan the markets to find the best stocks for you. You will also read about various day trading software and platforms. Aziz explains more complicated day trading techniques such as trailing stop-loss orders, stop ranges, and hotkeys.
Other day trading books we consider
There are numerous day trading books. We’ve rounded up the best ones, but you might also want to read some of the ones below. (Note that many websites recommend books on trading in general; we focus solely on books on day trading.)
How can I learn to day trade?
To learn to day trade, you need to understand how the stock market (or the market for other assets you are trading) works. Then you need a deep understanding of technical analysis so that you can choose which strategy or strategies to use.
Any of the books on our list can help you learn to day trade, or you can decide to take a course with additional features such as chat rooms, stock simulators, and mentors.
Do day trading books help?
Yes, day trading books can teach you the necessary information about day trading. However, if you want to practice in the real world before investing real money, you can also sign up for a day trading course.
What is the most profitable day trading strategy?
A day trading strategy is just a way of using charts and data to decide which assets to buy and sell, and when. Every expert, book, and website will have a different answer about which strategy is best. The key is to go through the list of day trading strategies, such as scalping, fading, or pullback, and decide which one makes the most sense for your personality and goals.