7 Best Day Trading Books for Beginners

 

Let us today discuss the best day trading books for beginners. But first, we need to know

What is Day trading?

Day trading is done by day traders who execute an intraday plan of action to profit off-price changes for a given asset. It requires a wide variety of skills and strategies to take advantage of the market inefficiencies.

A skillful day trader can make up to $5000 a month with day trading. It is often identified by technical analysis and requires a high degree of self-discipline and fairness.

In simple terms, Day trading is nothing but the purchase and sale of assets/security within a single trading day.

Day trading strategies?

best day trading books strategy

There are four major strategies used by Day traders in intraday trading. They are:
  • Scalping trade – An attempt to make numerous small profits on small prices changes throughout the day.
  • Range trading – It primarily uses support and resistance levels to determine their buy and sell decisions.
  • News-based trading – It is typically seizes trading opportunities from the heightened volatility around news events.
  • High-frequency trading (HFT) – It uses sophisticated algorithms(bots) to exploit small or short-term market inefficiencies.

Unfortunately, everything about day trading cannot be written in a single article.

In order to know more about the different strategies, technical analysis, risk management, and psychology you need to refer to the following books listed below.

Best Day Trading Books:

1. Advanced Techniques in Day Trading

In our list of Best day trading books, Advance Techniques in Day Trading by Andrew Aziz is one of the highly recommended books of all time. The book discusses the necessary tools of the trading software and platform.

Then it moves to practical advice on how to find the right stocks to trade, how to define support and resistance levels, and how to best manage your trades.

This is a great book for beginners who are starting with day trading. After you have completed this book you need to move to a more advance version.

It has a rating of 4.5/5 on Amazon.

Download it today

2. Day Trading: The Ultimate Guide

A highly recommended book on our list of best day trading books. Authored by Alan Foley this book helps you learn day trading in the fastest and easiest way so that you make it your source of Income.

It focuses on how day trading works. Why day traders should be aware of the economic outlook held by the experts. why news is an important part of day trading and how to identify investment opportunity?

It has a rating of 4.5/5 on Amazon.

Download it today

3. How to Day Trade for a living

Written by the same author Andrew Aziz, this book is for both beginners and intermediate traders. The book emphasizes more on practical knowledge rather than having book knowledge. it focuses more on practicing what you have learned through the book.

It is considered as the next level of the first book listed in these articles.

It has a rating of 4.5/5 on Amazon.

Download it today.

4. How to Make Money in Intraday Trading

Co-authored by Ashwini Gujral and Rachana R Vaidya, this book is best for beginners and intermediate traders. Ashwini Gujral is one of the famous traders in India.

The book equips you with the skills and temperament to make you market-ready. In this book, Ashwini reveals his time tested and practical day trading strategy.

It has a rating of 4/5 on Amazon.

Download it today.

5. Start Day Trading Now

Authored by Michael Sincere, it is an entry-level book to understand the concept of Day trading from zero. The book is especially for those who know nothing about day trading and are understanding it for the first time.

He starts with the basic fundamentals as to what computer equipment is needed, how much money is required, the technical jargon of day trading and so on.

It has a rating of 4.5/5 on Amazon.

Download it today

6. How to Make Money Trading the Ichimoku Chart System

On our list of the best day trading books. Authored by Balkrishna M. Sadekar this book emphasis more on understanding candlestick charts.

Loosely translated, the Ichimoku chart means a ‘one glance equilibrium’ chart. According to the author using this system, a trader can visually determine in an instant whether a chart is bullish or bearish!

It has a rating of 4.5/5 on Amazon.

Download it today

7. A Game I Play Every day

The last book in this list is by author Kamal Jamwal, here you will be able to learn the powerful intraday strategy in less than 90 minutes.

It consists of a quick and simple intraday strategy that can be used on a daily basis to capture up trends and down trends of the market.

It comes with examples of how to use of proper risk management and position your trades. Even a new day trader can easily grasp the concept and start using this day trading strategy in his/her daily use.

It has a rating of 4.5/5 on Amazon.

Download it today

Take away:

Books can only help you to understand the concept but, you cannot rely on them for trading. The more you practice the easier it will be for you to implement those strategies.

All the above books listed in this article have been highly rated on Amazon and have good feedback. You can download them for free if you have Kindle or can buy them for a small amount.

I personally would recommend you to go for the first three books if you want to learn about day trading. Keep in mind that trading is highly risky and there no guarantee on the return.

Always do your own research before investing, never follow the books blindly. Trading is not a get rich quick scheme, it requires a lot of hard work, dedication, and commitment.

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In the End:

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About The Author: Shounak

Blogger, Writer, Cryptocurrency Trader and Tech Geek.