Refer to any literature by Steenbarger or Van Tharp for a far superior insight into trading psychology. by Robert J. Shiller, Seasonal Stock Market Trends: The Definitive Guide to Calendar-Based Stock Market Trading by Jay Kaeppel, Following the Trend: Diversified Managed Futures Trading by Andreas F. Clenow, Stocks on the Move: Beating the Market with Hedge Fund Momentum Strategies by Andreas F. Clenow, Trading Psychology 2.0: From Best Practices to Best Processes by Brett N. Steenbarger, The Psychology of Trading: Tools and Techniques for Minding the Markets by Brett N. Steenbarger, Trade Your Way to Financial Freedom, Second Edition by Van K. Tharp, Trading Beyond the Matrix: The Red Pill for Traders and Investors by Van K. Tharp, Super Trader, Expanded Edition: Make Consistent Profits in Good and Bad Markets by Van K. Tharp, Thinking Fast and Slow by Daniel Kahneman, Technical Analysis Explained (5th Ed.)
If you follow my watchlists on Twitter, I always trade with the direction of the gap.
From now on I'll only trade first 1-2 hours. Good for psychological insight. Refer to The Art and Science of Technical Analysis book by Adam Grimes for far superior technical analysis education. Press question mark to learn the rest of the keyboard shortcuts, Suggestions from other Reddit communities, Reminiscences of a Stock Operator by Edwin Lefevre, How I made $2,000,000 in the Stock Market by Nicolas Darvas, Pit Bull: Lessons from Wall Street's Champion Day Trader by Martin Schwartz, The New Market Wizards: Conversations with America's Top Traders by Jack D. Schwager, Hedge Fund Market Wizards by Jack D. Schwager, Traders at Work: How the World's Most Successful Traders Make Their Living in the Markets by Tim Bourquin & Nicholas Mango, The Art and Science of Technical Analysis by Adam Grimes, Getting Started in Technical Analysis by Jack D. Schwager, Long-Term Secrets to Short-Term Trading 2nd Edition by Larry Williams, The Universal Principles of Successful Trading: Essential Knowledge for All Traders in All Markets by Brent Penfold, Irrational Exuberance (3rd Ed.) See this screenshot for how's set up. It is interesting seeing people use these niche specialty methods to succeed in markets. Press question mark to learn the rest of the keyboard shortcuts. ...This book is not outright unhelpful, but it teaches outdated chart patterns like cup-handle and head-shoulders. There is nothing wrong with using books as part of marketing, as many professionals do, but this book is would only mislead if taken at face value. by Martin J. Pring, Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude by Mark Douglas, How to Make Money in Stocks: A Winning System in Good Times and Bad, Fourth Edition by William J. O'Neil, How To Day Trade For A Living by Andrew Aziz. The author gets into more technical specifics of each trader's method than other interview books. Trading is not easy. Says he has mentored thousands of traders, yet cites only a couple. The chapter on money management strategies was the highlight of this book.
...Macro-oriented, this book concerns economics research conducted by the author. While the author seems to carry a reasonable attitude toward trading (i.e. Either watch for day 1 and 2 breakouts for stocks in play and trade intra-day continuation patterns on those, OR. Less than 1 month of being a full time trader. The following list is primarily trading-specific, but books on Data Science, Probability Theory, Game Theory, and Statistics can be extremely valuable to an intraday trader. A well-balanced blend of wisdom and practical advice and information. Overall, though, a great book with a great deal of insight into one's self as a person and trader, as well as a healthy backing of cognitive and neuroscience research to bring a tangible use and practicality to the content and suggestions. For a good introductory book to trade, refer to Getting Started in Technical Analysis by Jack D. Schwager. First life-changing trading lesson learned as a full time trader: That money printing spree ended on NFLX October 17th, 2019. There are few real chart examples and it talks about patterns like triangle, head-and-shoulders, cup-and-handle, etc. Overall, far too repetitive and tedious to read, though. The u/Intradaytradingstock community on Reddit. ...This is a very outdated book. ...A great book written by a market veteran. One of the few good books written by a professional specifically targeted at short-term traders. There could be a bit more statistical rigor, but otherwise the information is all very helpful. Though the subject matter is not particularly specific and at times the book may seem not relevant to the individual reader, virtually any developed trader can find valuable pieces of wisdom to improve their practice. Thankfully, there are useful books written on trading in higher timeframes. Not life-changing.
Best for to advanced traders. Best for beginner to intermediate traders. It reads like a large compilation of anecdotes and case studies from the authors experience as a trading psychologist/consultant, with reflections on the wisdom and lessons from each case. Not technically rich, but full of wisdom and insight into a successful trader's journey from first introduction to markets, through success and catastrophic failure, elation and depression, to eventual, almost unbelievable success Best for all traders. If you can't find a credible source of there reputation (that is not their own website) on the first page of Google, be extremely wary of their credibility. Many prominent, highly successful traders write books.
Fundamentally-based cycles can provide a useful filter for broader market conditions, which can enhance the edge of a shorter-term trading strategy. Discussions related to stock market investing, trading, derivatives - Futures & Options & Commodity trading in India.
Good trading books can be close to invaluable for any level of trader, especially beginners. If you follow my watchlists on Twitter, I always trade with the direction of the gap. Afaik F&O tradings is non-speculative business and does not attract 30% tax. Necessary reading for success in any field, especially trading. Mostly stories of success from super trader program. Written by one of the original Turtles, this book is a mix of some technical information with insight on what it takes to be a successful trader. There are some useful, actionable research ideas, though the depth is not as comprehensive as some other books. Anything technical that is under 250 pages is likely worthless. No book will teach you how to trade. It discusses the irrational nature of markets and provides insight on behavioral functions in the market. They are composed of dozens of comprehensive interviews with the western world's most successful traders and hedge fund/risk managers. The knowledge and wisdom within them is indispensable. ...A modern non-fiction story about the famous "Turtle Experiment" by Richard Dennis and Bill Eckhardt, wherein these famous and accomplished traders attempted to teach average people (turtles) to trade. Seasonality is a very interesting and underappreciated subject in the retail space.
It provides the grounds for truly understanding that money can be made in a vast variety of ways by a vast variety of types of people in the markets.
Guys, always do your own backtesting before trying any strategy. This book is an ode to the spirit and origins of asset speculation in the United States. 1a) Find an impulse move on daily chart that possibly initiates a strong new trend and watch first pullback. Very well-written, informative book, though. This discussion is more rooted in neuroscience and cognitive science than personal psychological speculation.
...(This exposition applies to all books in the Market Wizards series) The Market Wizards books are a must read by anyone sincerely interested in pursuing asset trading for a career. There are no useful books titled "How to be a Lawyer For a Living" that are under 250 pages. The u/intraday_trader community on Reddit. Also one of a few real sources for solid psychological insight into trading (Steenbarger being the other). The amount of money and time the knowledge therein can save and make any level of trader makes them one of the best ROI assets one can obtain.
...There exists in this book a few small pieces of insight. Good view on psychology as well. Best for all traders. It delves deep into the cognitive functions that guide our decision making on all spectrum in life. There is no verification that the author is a successful trader.
...A more contemporary story of an extremely successful intraday trader with a notorious personality from the late 1900's to early 2000's.
Best for intermediate to advanced traders. My CA tells me otherwise.
It is a career, similar in rigor to being a Lawyer or Engineer. Within that, one can extract the commonalities and recurring themes existing in the best of the best within this industry. Not anymore are they very valuable in the short-term market. It reads more like a frantic, ego-fueled diary than a non-fiction educational text. Refer to Thinking Fast and Slow by Daniel Kahneman. Proof of profits, Sharekhan & Zerodha PnL Reports. As always with Tharp, though, there is a bit of repetition, especially about R multiples, as well as some fluff. There are better books on the nature of misinterpreting the role of randomness.
...Considered a classic in the contemporary American asset trading sphere, this semi-fictitious book documents the goings on of Jesse Livermore, a man who, in the early 1900's, went through multiple cycles of extreme success and bankrupt failure. The research in this book also provides great ideas to use directly or expand upon. Best for all traders. The first half has a strong and honest introduction with a very important segment on money management strategies is extremely useful. It is very technically written and goes over large quantities of specific data regarding seasonal patterns. Really makes you think and become more self aware and self-critical. Zerodha Varsity is a good place for getting started. ...The first half of the book is pretty good, the second half drags behind. ...Very good information on how big diversified futures hedge funds operate.
This book can be a bit dense at times, with intricate language and concepts created by the author that sometimes can seem a bit too speculative. Very useful for short-term traders who plan on expanding into more formal fund management in the future. Many core principles involved in successful intraday trading are involved in successful trading on higher timeframes. This book digs deep into properly using statistics, data, and patterns in the market to apply a more rigorous and consistent approach for research-based trading. All of these individual pieces slowly come together by the end of the book to synthesize the authors main idea of a map to improving your trading. By using our Services or clicking I agree, you agree to our use of cookies. Press J to jump to the feed. No spamming, selling services, or promoting, Press J to jump to the feed. However, it may be relevant just because of crowd psychology. Best for beginner traders. ...Slightly dated though still a very useful book for a beginning trader getting started in the markets. Please be wary of any book that is branded "Daytrading", "How to Day Trade", "Simple Strategies", "1 Hour a Day", "Penny Stocks", and anything with the word "Forex" in the title or entire book. It provides insight on the question of are markets efficient, how much so, and how one can detect periods of irrationality. These books are not merely inapplicable odes to the industry. Schwartz went through the trials of starting a formal hedge fund based on his retail success. It is more so a marketing book for the author's website than anything.
https://www.reddit.com/r/india/comments/8hehlq/hey_rindia_i_am_a_intraday_trader_who_made_29l_in/. ), the information is naive and won't produce anything substantial.
From the idyllic experience of trading by pool to visiting the giga-mansions of the foreign ultra-wealthy, this book gives insight into the life of a real successful asset trader.