Best Day Trading Books
If you are like the majority of people, the more information you have on a subject the better. It’s no different when you enter the world of day trading, so to help out with gathering some of that information, here are three of the best books I have had a chance to review.
A Beginner’s Guide to Day Trading Online by Toni Turner. Takes you through all the tools, tips and tricks you need to succeed in the world of trading. Covers the information you need to set up your home office, choose an internet broker, how to trade on margin the right way, and several additional topics. This book is an excellent introduction into the world of trading, and is directly targeted at the beginner. If you have never traded before, this would be a definite read. Toni also has a very good description of candlestick charting that will get you off on the right foot. A Beginners Guide to Short Term Trading by the same author is also an excellent choice.
Getting Started in Online Day Trading by Kassandra Bentley. For the complete beginner, this book will take you by the hand and guide you through the world of online trading. This book gives a great overview of day trading in general and down to specifics such as what day trading is, how to open an account, and individual strategies and techniques you can use to profit. This book is a great jumping off point for the beginner with avenues to dive deeper into individual subjects if interested. This book gives excellent detail on terms and acronym’s used in the industry, leaving nothing to the imagination.
Financial Freedom Through Electronic Day Trading by Van Tharp and Brian June. This book covers some of the more essential topics like risk management and money management, which to the surprise of some people are not the same. The book contains tons of information on the differences between fundamental and technical analysis and the importance of trading psychology. Of the three books here, this is probably the most technical, but definitely valuable to the beginning trader. This book goes into the development of self control, money management techniques and risk management. Most importantly, it also guides you through creating and customizing your own trading plan which is paramount to being successful as a day trader.
If I had to choose only one of these books, I would need to qualify my choice based on the readers current skill level. For the complete novice, I would choose Kassandra Bentley’s Getting Started in Online Day Trading. For the slightly initiated, the next choice would be A Beginner’s Guide to Day Trading Online by Toni Turner. Finally for the slightly more experienced I would choose Financial Freedom Through Electronic Day Trading. Any of these three books are well worth the time spent reading – even more than once.