One of the best ways to learn how to trade is from professional traders who have written down their own knowledge and experiences into a book.
There are thousands of trading books on the market, but the majority of them are a large waste of time and will not help your trading.
In this post we look at the best books by some of the very best and world renowned authors.
#1: Japanese Candlestick Charting Techniques by Steve Nison
Steve Nison is the man who is known as bringing candlestick patterns to the western world.
In this book Steve goes through all of his favorite charting strategies in a very methodical and structured layout.
Whilst a lot of what Steve is teaching can quite often be very complicated, this book breaks it down to make it easy to understand.
This book would suit those traders looking to use technical analysis and candlestick patterns in their trading to profit from the Forex, Futures or stock markets.
#2: Trading in the Zone by Mark Douglas
This is one of the most famous trading books by the now late Mark Douglas and it is legendary in trading circles.
It is commonly known among experienced traders that to be a consistently profitable trader a large focus needs to be put on mindset and psychology.
This book breaks down a lot of the trading psychology myths and habits that are holding traders back.
You will learn how to analyze your trading and start thinking with an edge in the markets for bigger profits.
#3: Market Wizards by Jack D. Schwager
Another extremely popular and well-known book in the trading world, ‘Market Wizards’ is a set of interviews with some of the best traders in history.
This book not only finds out what makes those traders great, but gets to know their stories.
You will learn what separates these traders from the pack and the tips that will help you get closer to being more like them.
#4: Day Trading and Swing Trading the Currency Market by Kathy Lien
Kathy Lien has been in the markets for a very long time and in this book you will learn a very wide range of trading strategies.
You will learn how to identify and then trade in overbought and oversold markets as well as swing trading strategies.
This book is not for the new trader as more advanced topics are discussed so a solid understanding of the basics is recommended.
A revision was made in 2016 to ensure the teachings are all up-to-date and you can find hard copy, ebook and audio versions.
#5: Trend Following by Michael Covel
It is very well known that one of the best ways to increase the odds of making winning trades is to trade with the trend in your favor.
In this book by Michael Covel you will learn exactly why the trend is your friend.
The strategies discussed include how to track different trends and how to use a system to take advantage of different markets.
This book suits most types of traders as it will help you analyze your own trading and how you can use the strategies and techniques discussed in your own trading system.