Wikipedia defines day trading as a form of speculation in securities in which a trader buys and sells a financial instrument within the same trading day so that all positions are closed before the market closes for the trading day to avoid unmanageable risks and negative price gaps between one day’s close and the next day’s price at the open. Day trading is a form of short-term trading. While long-term trading is preferred by many, people also are intrigued by the volatility of trading forms like day trading.
While all this sounds nice and exciting one should never enter this world without knowledge. It could be profitable but in most cases, it is not. What you need to lead a profitable career in day trading is proper guidance. Books by experts are always a perfect guide.
Here is a list of books which are best in the market in this field.
1. Beginner’s Guide to Day Trading Online by Toni Turner
This book is written by the technical analyst, financial educator, and speaker Toni Turner who is president of Trendstar Trading Group, LLC. This book is provided with information about the trading market and tips and strategies to make the market work in your favor. This book shows how day trading could be profitable. The book provides information about decimalization of stock prices, new trading products such as E-minis and Exchange Traded Funds (ETFs), precision entries and exits, and new breeds of traders.
2. How to Day Trade for a Living by Andrew Aziz
This book is written by Forbes council member and best-selling business and finance author Andrew Aziz. This book covers the fundamentals of day trading. The authors also discuss the uniqueness of day trading and thus provides tips to master that. He is a believer of practice and this book of his provides classic strategies for a profitable day trading. In this book, he also discusses strategy-making steps. This book is helpful for both beginners and intermediate-level traders.
3. Mastering the Trade by John Carter
The author of the book is a successful trader John F. carter. This book can be called a classic book in the world of trading. This book provides in-depth knowledge of the psychology of traders in the market. Understanding this psychology can help you elevate a lot in the market. This book is filled with classic strategies to protect your trading capital. This book gives you a look into the current market. The author also provides a set of tools that will you help you in day trading.
4. How to Day Trade Stocks For Profit by Harvey Walsh
This book is written by finance author Harvey Walsh. This book is a day trading course in disguise of a book. This book covers all the basics topics that a beginner of day trading should know and gives an ample number of real-life examples so that the information is not only theoretical but also practical. Author Walsh gives 14 golden rules to trading which are indeed important to know before setting foot in this tricky world.
5. The Art of Short Selling by Kathryn Staley
This book is written by written Kathryn F. Staley. In this book author Staley focus on short selling. This book is a guide to this less discussed and often found the difficult technique of short selling. She also warns her readers by providing stories of investment scams. The art of short selling is a comprehensive book to guide you to day trading or short selling.
6. The Disciplined Trader by Mark Douglas
This book is written by a noteworthy person in the trading and stock business world Mark Douglas. Mark Douglas focuses more on psychology and emotions rather than tricks and tips. He believes the emotions of a trader and understanding of that is very important for Day trading. In this book, the disciplined trader writes about things the obstruct or hold back a trader from achieving his goals and reaching the maximum potential. He believes that that limited belief does not let a potential trader grow and he explains how to eliminate those beliefs.
7. Day Trading for Dummies by Ann C. Logue
This book is written by writer and consulting analyst Ann C. Logue. This book by her is a beginner’s book for day trading. This book provides you with information that will clear your doubts about the basics. This book discusses classical strategies and techniques that should be used in day trading. This book also talks about basic day trading practices. This book also provides an account of taxes which is important to know for absolute beginners.
8. High Probability Trading by Marcel Link
This book is written by finance writer Marcel Link. This is a user-friendly book that covers all topics on data trading and tells us how to master that very aspect of day trading. The book also discusses common mistakes made by new traders and how to avoid them. In this book of Marcel Link talks about profitable trades, money management, and risk factors. This book also provides you with enough examples that make you practically capable of trading.
9. All About Day Trading by Jake Bernstein
This book is written by a trading expert who is also president of Network Press, Inc., Jake Bernstein. This book mainly focuses on trading news which explains the way to track new and important events related to trading. This book also covers discussion on topics like common psychological pitfalls, powerful trading systems, day in and day out profit systems, and many more. This is a book on basics targeted to beginners of the day trading and trading world.
10. Start Day Trading Now by Michael Sincere
This book is written by Michael Sincere who is an experienced writer on trading and investing. This is a user-friendly book that introduces you to the day trading world. This book can be utilized as a step-by-step guide to day trading as Michael Sincere provides well-categorized information on trading. This book has a discussion on equipment that will help a new day trader to grow in the market. This tiny bit of important information is essential for a beginner.
11. The Truth About Day Trading Stocks by Josh DiPietro
This book is written by an internationally published author, financial instructor, and stock trader Josh DiPietro. This book should be read by everyone who is interested in Day trading. This book is not all sweet words. This book is harsh and gives you the reality check that you need. Josh DiPietro in his books talks about false expectations of traders and that make them fail. This profession is a highly risky profession and one should not opt for it if he or she does not have much to fall upon. This book talks about some important topics like mistakes new traders make, the importance of taking breaks, and the harmfulness of over-exposure.
12. Digital Day Trading: Moving from One Winning Stock Position to the Next by Howard Abell
This book is written by trader, broker, money manager, and author Howard Abell. He has more than thirty years of experience in this field. This book is an “old is gold” kind of book. It is a comparatively earlier published book. But it has important and useful data about day trading. The most interesting part of the book is the interviews with the day traders. Interviews with a real-life day traders give us different perceptions of the market and an opportunity to learn from their mistakes.
13. Range Trading: Your Step-by-Step Guide to Consistent Range Trading Profits by Michael Young
This book is written by financial writer Michael Young. This is a short book of twenty-five pages. This book comprises useful data about range trading. This twenty-five-page book has enough information that you may need to know about range training. The book will provide answers to all your questions about range trading what, how, why, etc. this book also covers topics like buying and selling prices, maximization of profit. This book also talks about the risks of range trading and provides solutions to minimize the risks involved in range trading.
14. Trading Price Action Trends by Al Brooks
This book is written by individual day trader and technical analysis contributor to Future Magazines, Al Brooks. He is known for his unique approach to trading that changes the perception of traders. His books are recommended by many successful traders. This book is not for beginners. This book provides helpful insights to people who already in the trading world. He believes that there are no rules in this business but are only guidelines. In this book, he talks about his five-minute pie chart system. In this book, he teaches to follow trends in order to make a profitable trade. In this book, he also discusses his personal experience and strategies that he made in the trading world.
15. Stock Trading Wizard: Advanced Short-Term Trading Strategies for Swing and Day Trading by Tony Oz
This book is written by a published financial author and professional trader Tony oz. This book is a high-quality illustrated book that provides a guide to not only day trading but also to other short-term trading fields. This book has information about technical analysis, charting, swing trading, and many more. This book features tony oz’s stock formulas which are extremely helpful and will come in handy once you are in the trading business.