Books about Trading Stocks
These books are for aggressive traders and day traders who needs all the possible edges in their short term trades.
Trading for a Living: Psychology, Trading Tactics, Money Management
Soviet-born author and practicing psychiatrist Elder (director, Financial Trading Seminars, Inc.) shares his learning over the years as a professional trader and expert in technical analysis and his principle of understanding the three Ms (Mind, Method, Money), which will strengthen the discipline required to be successful in trading. He explores crucial factors in the markets that most experts overlook, including time, volume, and open interest, and describes little-known indicators to track them profitably. His unique viewpoints in this overly saturated genre explain his particular view that most traders sabotage themselves, while offering tips for others to avoid doing the same.
The Electronic Day Trader: Successful Strategies for On-line Trading
In The Electronic Day Trader, authors Marc Friedfertig and George West explain the rationale behind day trading and offer strategies that can help you become successful at this fast game of speculation and timing. The authors write, "Day trading appears so deceptively easy, yet in reality it is a never-ending challenge. It is a game, an opportunity to match wits against the majority and thereby prosper. Day trading the stock market is the ultimate opportunity to speculate and the ultimate game." . The book goes into great detail about how the various stock exchanges work and shows how to get direct access to the NASDAQ through various electronic trading systems.
Market Wizards: Interviews with Top Traders
How do the world Top traders make millions of dollars in the markets in a matter of only weeks or even days? That's precisely the question Jack Schwager was trying to answer when he interviewed 17 superstar money-makers including Richard Dennis, Paul Tudor Jones, Ed Seykota, Marty Schwartz, Tom Baldwin and others. After reading this best-selling book, you know what ingredients enable these top traders to consistently work their financial magic in the markets while so many others walk away losers.
The New Market Wizards: Conversations with America's Top Traders
In these absorbing interviews with star performers in the financial markets, Schwager humanizes the mechanics and psychology behind billion-dollar daily world trading in such sophisticated instruments as currencies, stock options, commodity futures, and mutual-fund accounts by individuals, investment firms and group-trading computerized "money machines." Few consider their work gambling, but Schwager entertainingly argues that a successful trader needs many of the qualities of a good poker player.
Reminiscences of a Stock Operator
Reminiscences of a Stock Operator is the thinly disguised biography of Jesse Livermore, a remarkable character who first started speculating in New England bucket shops at the turn of the century. Livermore, who was banned from these shady operations because of his winning ways, soon moved to Wall Street where he made and lost his fortune several times over. What makes this book so valuable are the observations that Lefèvre records about investing, speculating, and the nature of the market itself. If you've ever spent weekends and nights puzzling over whether to buy, sell, or hold a position in whatever investment--be it stock, bonds, or pork bellies, you'll be glad that you read this book.
The Inner Game of Trading
Putting money at risk in the markets exposes every trader to fear, greed and a host of other destructive emotions. For the first time ever in paperback, The Inner Game of Trading shows how to master the psychological skills that are essential to successful trading. It is an insightful, colorful book that reflects the collective wisdom of the best traders in the business. Topics include: Creating a winning system that fits individual personalities and analytical abilities; Models of success based on profiles of top traders; Demonstrated methods to recognize and overcome self-sabotage.
Trading to Win: The Psychology of Mastering the Markets
Buy low, sell high. Sounds simple? Hardly. As most traders will tell you, finding the right entry and exit points in a market is too often a stressful and even gut-wrenching experience. Ari Kiev, author of Trading to Win, wants to change all that. Kiev spent five years with a group of professional traders at SAC Capital Management, a $500 million hedge fund, studying the psychological and emotional aspects of what makes for a successful trader. Kiev found that what hinders many traders is ego, fear, emotion, and "false beliefs about yourself and the markets." Gaining mastery as a trader means seeing "the market as it is, not as a reference point for your own existence."
Pit Bull: Lessons from Wall Street's Champion Day Trader
After working several years in what he considered to be a dead-end job as a financial analyst at E.F. Hutton, Schwartz quit the firm, accumulated a nest egg of $100,000 and on August 13, 1979, bought a seat on the American Stock Exchange where he began trading stocks, options and futures. He quickly became an expert at trading S&P futures, and in his first full year as an independent trader made $600,000 and a year later earned $1.2 million. Schwartz's style was to get in and out of positions in a hurry; he rarely held on to any financial instrument for more than a day. Inadvertently, he has written a cautionary tale on the dangers of being addicted to money and power.