Top 5 Books for trader

Many of us want to become successful traders and want to use all available options i.e. stocks, commodities, options, foreign exchange (Forex), etc. Unfortunately, we don’t have any education or training related to this either in our schools or the colleges, but this is one of the best and fastest ways to earn money and make life easier. Although there are many books available on this topic but no one knows about the best books which can be utilized and provide us with the actual analysis of what needs to be done.

Below we are sharing the top five books, which will not only give you an insight but will also provide you with enough knowledge using which you can perform safe trading and mature your earnings from day one.

  1. Reminiscences of a Stock Operator

    Written by Edwin Lefevre and published in 1923, is on of the most recommended book for aspiring traders and investors.

    The book is a fictionalized account of the life of the man considered by many to be the greatest stock trader of all time, Jesse Livermore, presented as the main character, Larry Livingston, in the book. This book, which is also noted as simply a good read like a novel, is one of the few attempts at a detailed biographical account of one of the legendary investors in stock market circles in the early 20th century and provides interesting insights into Livermore's self-education as a trader.

  2. The Intelligent Investor

    Benjamin Graham's book revolves around the value investing, which is still one of the most popular basic investing strategies and the underlying principle of hundreds of investing strategies developed since Graham's book was first published in 1949. This book holds the distinction of being touted by famed investor Warren Buffett as the best book ever written on the subject of investing, and as one of the primary sources for his education in trading stocks. In the book, Graham presents his core investing philosophy of identifying the intrinsic value of an investment and then looking to buy into it at a price below that value.

  3. Market Wizards

    Jack Schwager has put together two very popular books on trading: This book consist of interviews with some of the most successful traders of the past half-century, such as Paul Tudor Jones, the billionaire founder of Tudor Investment Corporation.

    It is often argued that the best way to learn any craft or occupation is to be mentored by people who have already attained success in the field. Schwager's books offer readers the opportunity to pick up some mentor-like advice from very successful traders.

  4. The Disciplined Trader

    Written by Mark Douglas in 1990, addresses the subject of the psychology of trading, the mental discipline that is required to be a successful trader.

    Although many other books have since been published on this subject, Douglas' book is still considered as a "must read" the classic text on trading psychology.

    One of the strengths of the book is the fact that although it addresses a subject that might appear dauntingly complex to some, it is a very clear and easy read, in which Douglas does an excellent job of describing the basic mindset and attitudes that are essential for the traders.

  5. Principles of Professional Speculation

    This book is written by Victor Sperandeo. However, it’s not very well-known as compare to many other books on trading, but is a favorite of mine, and I think one must read it to polish their trading skills.

    In this book, you will find an investment strategy that is based not on specific market events or company-specific metrics but on analysis of the general direction of the economy as driven by factors such as the fiscal policies implemented by the Federal Reserve and tax policy.

    Sperandeo author of the book argues that identifying the basic direction that such policies will inevitably drive the economy enables traders to determine the most probable overall market direction, as well as specific market sectors that will thrive.

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