10 Best Trading Books You absolutely need to Read

Forex trading is the most common passive profession across all parts of the world. Because of the high prospects and profit margin, so many individuals, companies, and organizations are getting into online currency trading.

If you want to be a pro forex trader, you must acquire the relevant knowledge of how the market operates. There are various trading books out there, but finding the right one to read can sometimes be tricky. That is why we compiled a list of the ten trading books to read in 2020.

Best forex trading book of all time

1. Trading in The Zone by Mark Douglas

best forex trading books of all time

The book “Trading in the Zone” is one of the first trading books you must read if you desire to be a successful trader. Top forex traders regard the book as the leading book in the trading industry because it contains practical strategies and experiences to control emotional responses as a trader. The book explores all the psychological characters needed to become a pro trader, and concisely discusses how to develop the attributes.

This book is a must-read, it has the ability to change your trading experience forever positively. If you want to learn about all the psychological problems that traders face, then quickly get your copy now.

In the book, Mark Douglas makes us understand that risk is part of the trading business, and your reaction to a given loss is what makes you a good trader. In his opinion, emotional control is one of the most significant attributes every good trader must master. 

Best book to read for forex trading

2. Market Wizards by Jack D. Schwager

Best book to read for forex trading

Imagine reading a book where the best traders in the world share their experience on what differentiates them from the masses. This and many more are what you get from reading Market Wizards by Jack D. Schwager.

The book is a collection of the interview (question and answer) with the world’s best traders. The author set out to reveal the different market wizards (successful traders) from ordinary traders.

He also points out lessons to learn from these pro traders who have excelled in their endeavors over the decades amidst strict risk control. In the book, Schwager also shares some of his experiences as a trader.

Success in the forex market is not a game of luck; it depends on your ability to develop the right mindset, plan, and strategies. You will learn all these from this book.

Best technical analysis book

3. Getting started in Technical Analysis by Jack D. Schwager

Best technical analysis book

If you want to be a pro trader, then Technical analysis is one area you must be grounded in. Technical analysis is the science and art of interpreting price activity to identify better and understand market opportunities and behavior.

In this book, Jack Schwager-perhaps the most respected and renowned name in this field-demystifies technical analysis for beginners, concisely explaining critical concepts like chart patterns, trading ranges, trends, pyramiding approaches, exit, entry, and stops.

The book’s simple explanation, illustrations, and numerous examples provide a solid foundation for understanding and leveraging technical analysis to make well-informed trading decisions.

Coupled with Schwager’s years of experience in the trading world, Getting Started in Technical Analysis provides in-depth information on candlestick, point-and-figure, close-only, and types of charts-bar.

Best investment trading book

4. The Intelligent Investor by Benjamin Graham

Best forex trading books

Benjamin Graham, who is widely known as Warren Buffet’s mentor, is one of the most successful practical investment thinkers the world has seen. The book ‘The Intelligent Investor’ is a personal experience of how he amassed a wealth of psychological and historical knowledge concerning the financial market over the years. He focuses more on sharing investor attitudes and investment principles every trader should know rather than discussing techniques of analyzing securities.

In the book the Intelligent Investor, Benjamin Graham seeks to help traders achieve three main objectives:

  • Possible ways of minimizing the chances of suffering from irreversible market losses
  • Best ways to maximize the chances of achieving success in every trade
  • How to overcome self-defeating thoughts that limit investors from unleashing their full trading potentials

Graham emphatically states that for you to be an intelligent investor, you must be disciplined, patient, and willing to learn new things. Similarly, it would help if you also mastered the ability to control your emotions. You must read this book to learn more about Benjamin Graham’s model for successful investing and the intelligence needed to be a pro trader.

Best stock market book for beginners

5. A Beginner’s Guide to the Stock Market by Matthew R. Kratter

Best stock market books for beginners

This book contains every information you need to know about making money in the stock market. Matthew in the pages of this book will walk you through the process of making money in the stock market even if it’s your first-time trading.

The truth is that if you want to make it real big in the stock market, then you must know how the stock market operates. Reading this book will position you to avoid all the mistakes that beginners make while trading. The book serves as a road map with time tested investing and trading strategies that work like magic.

Best book on stock market investing

6. Invest like Warren Buffet by Matthew R. Kratter

Best books on stock market investing

Are you wondering if it possible to invest and get the same result as Warren Buffet got? Mathew, in this book, seeks to help beginners in the trading world understand that the trading and investment strategies of Warren Buffet can be imitated consciously by anyone who desires to, regardless of the size of their account.

You will learn how to compound wealth using Warren Buffet’s sneaky tips and tricks for deciphering financial statements. You will also learn the strategies for detecting the best times to buy stock and avoid the pitfalls associated with wrong timing.

Furthermore, you will also learn how to choose between a high-quality stock and a low-quality stock and how to figure out the amount to pay for each category of stocks. There is so much valuable information in this book.

Best trading book for beginners

7. Flash Boys by Michael Lewis

Best trading books for beginners

The book, Flash Boys is a nonfiction trading book centered on a group of men on Wall Street, including Brad Katsuyama (founder of Investor’s Exchange IEX) and Sergey Aleynikov.

One of the things the book seeks to achieve is to help open up your imaginative reasoning in the trading market. The book positions you to learn more about digital transactions (high-frequency trading)- known as the fastest computers with the highest connection speed to get information first and trade before anyone else.

When it comes to trading effectively, time is a critical factor because a nanosecond or even millisecond can make a big difference as to how much profit or loss you make in the market. Learn more about computerized trading in this book

Best book to read on forex trading

8. How to Day Trade for a Living by Andrew Aziz

Best books to read on forex trading

Are you considering going into fulltime trading for a living but lack sufficient knowledge on how to go about it? Then this book is for you. It is a beginner’s guide on all the trading tactics and tools needed to be a successful trader.

There are very few professions that offer you consistent cash flow, flexibility, and freedom as much as Day trading does. With trading, you can decide when to work and when not to work. You become the boss of your own.

This is the kind of life every trader strives to attain. To be successful at day trading, you need the right information and tools that will keep you motivated all through. This is what the book seeks to achieve.

Best book on forex trading for beginners

9. Currency Trading for Dummies by Brian Dolan

Best books on forex trading for beginners

Currency Trading for Dummies by Brian Dolan is a perfect book for financial analysts, students of business economics, investors, and beginners in the trading world. After reading through the pages of this book, you will discover that there will be no more room for mediocre and dummy trading anymore.

It is suitable for all those joining the forex market or those who already have experience but need to diversify the more. This book will make you a successful trader for sure whether you are an online broker or IG marketer.

In this book, Brian covers everything you need to know about the basics of forex trading and the fundamentals of macroeconomics. The concepts he shared are both valuable for pros as well as beginners.

Best day trading books for beginners

10. Day Trading for Dummies by Ann C. Logue

Best day trading books for beginners

The book is not literally for dummies, as the title implies. It is more of a guide and covers every aspect of day trading. The author herself is not a trader; therefore, the book is more of a theory than experience.

Hence making it perfect for beginners in the trading world. Day Trading for Dummies is a pocket guide that should always be in your possession for every clarification about day trading you need. The book covers vital areas of day trading, from choosing strategy and stock to risk management and the psychology of trading.

Conclusion

This review contains the list of some of the best trading books you must read if you want to be a successful trader. We hope that you’ll find the one that best suits your need and persistent heart desire. We guarantee that the books shared in this post are some of the best books you need to read. Don’t procrastinate; start reading today!