Hello everyone, dear readers! Today, the Forex market and trading on it are increasingly heard by the average person. Why? Because this is a good additional, and for some, permanent income. Trading is not a new direction for making money on the Internet; it has become popular since the end of the 2000s. But every year more and more new people are mastering this profession. How to start earning money? To do this you need to go through a long learning curve. And to make it easier for you to understand what trading is and how to invest your money, I have prepared for you a list of the best books on trading. They will help you understand the profession and all the intricacies of such earnings.
“How to play and win on the stock market” Alexander Elder
The book is perfect for traders who want to know all the intricacies of working in a stock exchange environment. The author is a professional financier and specialist in the field of technical analysis. He teaches the reader how to successfully work on the stock exchange.
In the book you will find information for learning disciplinary trading and managing money in your account. The secrets of finding profitable deals have been revealed. Here you will also learn how to use charts, indicators, and many analysis tools to your advantage.
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Edwin Lefebvre. Memoirs of a stock speculator.
- Electronic version on liters.ru
- Paper version on labirint.ru
I want to end the collection with this book. It is not about analysis, strategies or the secrets of speculation. It's about a man - Jesse Livermore. He speculated on US stock exchanges in the first half of the twentieth century, making multimillion-dollar trading transactions.
The author also talks about the basic principles that Livermore followed in his trading, about his views on technical and fundamental analytics. Written in simple language and entertaining.
"The Intelligent Investor" Benjamin Graham
Although the book was written back in 1949, it has not lost its significance. The author was the first to point out the importance of proper investment. Now his ideas are used by a large number of people.
This work is considered the “Bible of the stock market.” Here you can find information about passive and active income and investment strategies. With concrete examples, it is very easy for even beginners to understand security analysis.
To date, the book has not lost its significance, although more than 70 years have passed and humanity has noticeably stepped forward. At the end of each chapter in the modern version, you will see a detailed commentary from the famous investment columnist Jason Zweig.
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Ralph Vince "The Mathematics of Money Management"
A fairly common book among novice investors and advanced traders. This work was published many years ago, but every year it does not lose its bestseller status.
The author mathematically illustrates how a market participant can maximize equity growth in trading using his formula. Of course, most people with a basic knowledge of mathematics and statistics will be able to understand the explanations. The underlying mathematics is not as complicated as it may seem. Therefore, Vince decided to adapt the book as much as possible, even for those people who are far from computing.
“A Day Trading Primer” by Lewis Borsellino
This work is suitable for mid-level traders who know what trading training is about. It is narrowly focused, as it considers how to make trades so as not to carry them over to the next day.
Here you will learn when it is best to enter into a deal, exit it, and begin to put into practice methods for finding partners. An important point that the author emphasizes is the trader’s discipline and the practice of technical analysis. A pleasant bonus for you will be the author’s stories about how he managed to achieve success in trading on the stock exchange.
Simon Vine. Options. Complete course for professionals
- Electronic version on liters.ru
- Paper version on labirint.ru
This is a kind of textbook with theory and exercises, which was first published in the USA and was immediately included in the list of recommended literature for universities. Including such large ones as Cambridge.
It will be difficult for people without economic education to read it. The author is a candidate of economic sciences, he aimed his bestseller at the same professionals.
I emphasize once again that we are not talking about binary options trading here. Vine talks about options in which large investors invest huge amounts of money and hold these options open, sometimes for several years.
“The Small Encyclopedia of a Trader” Eric Nyman
It’s not for nothing that the book bears this title. It, like any encyclopedia, contains all the issues related to trading in the financial market. Here, experienced traders will gain a lot of useful information on the state of the modern market.
For those who are learning the profession from scratch, there is introductory information: what quotes exist and why they change, what is needed for successful investing. The book provides useful knowledge that reveals the psychology of market participants, helping to better understand trading and risk management.
The advantage of this book is that it is suitable even for students of economics. Its main purpose is to provide practical advice to private investors, financial market specialists, and employees of banks and investment companies.
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John Hull. Options, futures and other derivatives
- Paper version on labirint.ru
This is a tutorial about derivatives. These primarily include options and futures contracts. The author talks about what affects the price dynamics of options and futures, what strategies can be used to make money on them.
This book does not teach how to trade those binary options that are offered to “ordinary people” who are willing to invest just a couple of dollars in trading. It is about serious economic instruments available to traders with large capitals.
It is worth reading the book in order to better understand the world of financial instruments and understand what you want to speculate on.
The manual contains a lot of terms, but it is also intended for beginners – amateur traders without a higher economic education.
“One Good Trade” Mike Bellafiore
The book was included in the top of the best trading manuals for beginners. The author, based on his experience, describes the qualities that a beginner should have, mistakes and important lessons. The author's experience is 12 years of work in private trading.
The work is very easy to understand - it is written not in complicated phrases, but in understandable words. Gives a lot of useful information that will be useful both when learning to trade and when making real money.
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You can learn not only from books. There is an excellent selection of 20+ best online courses for beginners and professionals that will help you learn trading much better.
Timofey Martynov “Trading mechanism. How to build a business on the stock exchange"
A small monograph by a domestic venerable market expert will be useful for both beginners and experienced traders. It is surprising how such a small work, where several pages are devoted only to the table of contents, the author managed to squeeze in a lot of topics and cover them perfectly - there is a personal story, an analysis of unsuccessful transactions, a lot of information on the structure of the market and schemes for conquering it.
Martynov describes well how domestic trading works and what hidden problems are inherent in it.
This is one of the best domestic books on trading for beginners, which helps to adequately assess their abilities and capabilities and gives guidance on whether trading is worth making a lifelong pursuit or choosing another direction to generate income.
“Turtle Traders” Michael Covel
A very interesting and useful book, as it describes a large experiment.
Experienced Chicago trader Richard Dennis once argued with colleague William Eckhardt about whether anyone could be taught this profession. For the experiment, Denis invited people through an advertisement in the newspaper to a 2-week course. 23 people were accepted. They became “turtle traders” who brought Denis a profit of $100 million.
The book describes all the details of training people, by what rules they entered and exited the market. Here you will see personal advice from Eckhardt and Denis, biographies of all the people and trading philosophy.
James Ferguson "Martingale Method"
The trading speculator knows that he cannot step into the same river twice, since “fresh water begins to bloom after him.” Therefore, each transaction must be unique in nature.
The book “The Martingale Method” is intended to provide a detailed and most accessible description of the Martingale method. The method was developed back in the eighteenth century and was then used in gambling. This method has 2 forms: easy and difficult. The first requires doubling the bet on each losing trade. As a result, one win allows you to get back all the lost money and make a profit.
“Stock Secrets” Lawrence Connors, Linda Raschke
The authors wrote the book based on their own experience of trading on stock exchanges. You will see their trial and error. There is a model of behavior here that allows you to earn maximum profit with minimal risk.
The book is designed for people who have been trading for several days. It describes trading strategies that take the trader to a new financial level. The rules for managing your capital are clearly and clearly formulated and described. Helpful tips will help stock and futures traders work on their own trading method, especially in short time frames.
Jeffrey Owen Katz and Donna McCormick, Encyclopedia of Trading Strategies
As the name suggests, the Encyclopedia of Trading Strategies contains descriptions of many trading strategies. But for an encyclopedia it is structured rather unconventionally. Moreover, the purpose of this work differs from the mission of the classical encyclopedia.
The book is divided into three large parts: introduction, entries and exits.
The story begins with some fairly extensive but outdated information about backtesting data, backtesting simulators, optimization software, and statistics used in analyzing trading strategies.
The second part is the largest and consists of several chapters that combine reviews of various trading algorithms. The descriptions contain general trading ideas, such as seasonality or breakouts. Each chapter presents the reader with a detailed description of the trading methods, the source code of the C++ program that was used to test the methods, and the results of backtesting (both in-sample and out-of-sample).
The third part is the research itself. The authors answer pop-up questions that arise during investing.
“Online Day Trading” by Tony Turner
This book is also written on the personal experience of a woman who, at the beginning of her trading, had little relevant literature. She had a hard time surviving among stock traders and used different methods to stay afloat.
In the book, the author gives real cases from his life. The key operating principles of the exchange are described here. You will understand what “day trading” means and better know whether you want to do it. The book describes in simple language the different principles of trading and the effectiveness of each of them.
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Philip Fisher "Common Stocks and Extraordinary Returns"
Fisher is considered the greatest investor of all time. He has the best literature for a trader. The English newspaper Morningstar wrote about this. The book includes 3 works that have become classics of world trading - “Ordinary Stocks and Extraordinary Income”, “Conservative Investors Sleep Well” and “Towards an Investment Philosophy”.
The cherry on the cake is a 15-point algorithm for selecting interesting stocks.
One of the main factors in choosing the most common stocks is an understanding of the prospects, whether there is reason to assume the future growth of profits of a particular company.
In the book, Fisher gives recommendations on how to competently compile an investment portfolio and choose the right moment to buy/sell securities.
“How to Make Money in the Stock Market” William J. O'Neil
The book is very popular as it provides useful knowledge in simple language. It can be downloaded or read online for free. It was written by a well-known stock trader who used the CAN SLIM stock selection method. Now the author is a sought-after stock consultant in America.
The system invented by the author still works today. It is based on an analysis of price movements. All the tips in the book apply not only to stock trading, but also to Forex players. You will also find information on technical analysis, where the author teaches how to “read the market” using charts.
Steve Neeson. Japanese candles
- Electronic version on liters.ru
- Paper version on labirint.ru
The most popular book on candlestick market analysis. Candlesticks are a way of displaying prices on charts:
It happens that the next candle completely “absorbs” the previous one - this is a sign of the beginning of a strong trend. It happens that a candle has almost no body - this is a signal that the market is ready to reverse. On the daily chart of EUR/USD, I counted five such candles and highlighted them with blue rectangles - after them the market always went in the opposite direction.
There are many other candle patterns. For example, when there are very long “tails” and a small body - this often happens when news is released. Or when there are no shadows at all, but the candle has a very large body, it means the trend is strong.
Steve Nison will teach you how to read Japanese candlesticks and how to trade them correctly. The book has a lot of illustrations, so you can easily understand everything.
“Security Analysis” Benjamin Graham, David Dodd
The book is a bestseller in modern trading, although it was written in the middle of the last century. This is a guide to the basics of security analysis. It covers not only the basics, but also describes in detail the analysis of financial statements, stocks, and bonds.
The book has several goals: to teach readers to correctly analyze stocks and securities so that their owner can make a profit. And also find out which assets are safe to purchase at the current expected price. This is one of the world famous books that allows you to understand the “Graham phenomenon”.
Dean Lundell "The Art of War for Traders and Investors"
One of Alexander Gerchik’s favorite books was written by the ancient Chinese warrior Sun Tzu, “The Art of War.” By analogy, modern trader Dean Lundell decided to write about the correct conduct of stock trading, having seen many similarities between the ancient Chinese military art and modern trading.
The strategy of military operations and the stock exchange have similar golden rules - the choice of optimal tactics within the framework of the required strategy, the ability to overcome one’s own fears, overcome doubts and indecision, correctly perceive what is happening, and objectively assess the situation and the enemy.
After all, it is not enough to know the theory and technique of trading - you need to be able to cope with yourself and correctly interpret what is happening. And this is equally important both in battle and in trade.
“Intuition Trading” Curtis Face
Who said that stock trading, options and investing are only for people with developed logic? Sensitive people can also make money on financial exchanges. Only the process will be different.
Trader Curtis Face, a famous trader, is confident that intuition is an essential part of financial success. The book describes the principles of trading “by intuition”, the rules of trusting intuition. Here you will find tips on how to train, improve and use it for successful trading.
But here you are also taught when you should completely trust your “sixth sense”, and in which cases this is absolutely forbidden.
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David Cohen "Stock Market Psychology: Fear, Greed and Panic"
What is more important on the stock exchange - the psychological factor or technical and theoretical preparation? It's like asking which oar is more important for rowing, the left or the right. Most analysts recognize psychology only in words, but in reality they do not delve into it much. I wonder what they will sing when they are faced with their own greed, fears, information overload, market pressure and other aspects that will force them to leave the exchange under the hooting of more successful rivals?
Under the heading “literature for beginning traders,” the book is very helpful in building the right psychological attitude in trading, which will benefit both beginners and experienced ones.
“The Path to Financial Freedom” Eric Nyman
The author talks in a simple manner about working in the stock and currency markets. Here are the advantages of trading: no boss and complete financial independence.
You will learn what techniques and strategies professional traders use so that trading in the financial market does not become a gambling game, but becomes the main source of income. Trading stocks and currencies can be a successful business, but to do this you need to go through the process of studying and analyzing the market.
Eric Nyman shares his experience primarily for investors, speculators working in financial markets, bank employees and economics students.
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George Soros "Alchemy of Finance"
The book by the famous speculator gives an understanding of how to make decisions in difficult “combat” conditions of real trading. Soros shares his own philosophy and view of the market. In his opinion, not only investors and traders influence the market situation, but also the market on them. Digesting 400-odd pages of this trading literature will not be easy, but considering the theory of reflexivity is very useful for both beginners and experienced traders. Soros calls reflection a phenomenon when the market and its participants mutually increase their influence on each other, changing the fundamentals and provoking historical changes in the course of trading.
“Visual investor. How to spot market trends” John J. Murphy
The author of the book is a successful trader and writer who, thanks to his hard work, achieved a job in a prestigious financial center on Wall Street.
The book caused a lot of delight among readers and became a bestseller. Trading methods are described here. The main purpose is to teach the reader how to forecast the market based on chart visualization. The author described in detail a large number of charts, provided background material on stock sectors, indicators, relative strength, intermarket connections, and so on.
What is especially striking is the simplicity of the presentation of the material, the intelligible explanation of complex things.
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Bernard Baumol "Secrets of economic indicators"
Experienced investors know that the hidden keys to future trends in the economy and investments will be macro indicators - macro statistics have too much influence on the markets. A detailed calculation of each indicator and a description of its impact on changes in financial assets makes the book a full-fledged reference book or textbook for a trader. And even if only American indicators are described there, this is quite enough, because the movement of financial markets is most based on US economic statistics.
“Digital Gold” Nathaniel Popper
This is truly one of the best works about cryptocurrencies. It describes how a small idea about digital money led to a big business on a global scale. The book changes consciousness: an unbacked digital currency becomes a profitable investment for millions.
This describes the belief of enthusiasts in the potential of digital money to become accepted throughout the world. Provides data on cryptocurrency trading mechanisms.
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