Great Books for Professional Traders

To enhance your proficiency in trading and investment strategies, it is recommended to consider adding a few books to your reading list. There are numerous resources available, ranging from classic texts to contemporary guides, that can assist you in better trading career. We encourage you to explore these resources and evaluate how they can benefit your practice.

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Mind Over Markets: Power Trading with Market Generated Information

“Mind Over Markets” is a comprehensive guide to Market Profile analysis, a popular approach among active traders. The book explains the underlying dynamics and structure of markets, identifies value areas, price rejection points, and measures the strength of buyers and sellers. The updated edition reflects today’s dynamic market conditions and provides traders with a solid understanding of this unique method of interpreting market behavior and identifying trading/investment opportunities. James Dalton, a pioneer in the popularization of Market Profile, is the author of this essential guide.

Markets in Profile: Profiting from the Auction Process

“Markets in Profile” is a book that explores the intersection of three different philosophical frameworks: the Market Profile, behavioral finance, and neuroeconomics. The author, Mr. Dalton, presents a unified theory of how markets work by examining the underlying dynamics that influence market activity. By understanding how irrational human behavior affects the market’s natural auction process, investors can better interpret changes in the market and ameliorate risk. This book is a valuable resource for anyone looking to improve investment decision-making skills.

Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude

Douglas is an expert in helping traders overcome their mental habits that lead inconsistent results. He debunks market myths and teaches traders to understand the true realities of risk and market movement. By focusing on probabilities, traders can make more informed decisions and improve their chances of success.

How to Day Trade for a Living: A Beginner’s Guide to Trading Tools and Tactics, Money Management, Discipline and Trading Psychology

In the book, I describe the fundamentals of day trading, explain how day trading is different from other styles of trading and investment, and elaborate on important trading strategies that many traders use every day. I’ve kept the book short so you can actually finish reading it and not get bored by the middle. For beginner traders, this book gives you an understanding of where to start, how to start, what to expect from day trading, and how to develop your strategy. Simply reading this book, however, will not make you a profitable trader. Profit in trading does not come with reading a book or two or browsing online. It comes with practice, the right tools and software and appropriate ongoing education. Intermediate traders may benefit from the book’s extensive overview of some of the classic strategies that the majority of retail traders regularly use with proven success. If you think you are beyond the stage of a novice trader, then you may want to jump ahead and start reading from Chapter 7 for an overview of the most important day trading strategies: Day trading is not gambling or a hobby. You must approach trading very, very seriously. As such, I wake up early, go for a run, take a shower, get dressed, eat breakfast, and fire up my trading station before the markets open in New York. I am awake. I am alert. I am motivated when I sit down and start working on the list of stocks I will watch that day. This morning routine has tremendously helped my mental preparation for coming into the market. Whatever your routine is, starting the morning in a similar fashion will pay invaluable dividends.

Advanced Techniques in Day Trading: A Practical Guide to High Probability Strategies and Methods

This well-thought-out training regimen begins with an in-depth look at the necessary tools of the trade including your scanner, software and platform; and then moves to practical advice on subjects such as how to find the right stocks to trade, how to define support and resistance levels, and how to best manage your trades in the stress of the moment. An extensive review of proven trading strategies follows, all amply illustrated with real examples from recent trades. Risk management is addressed including tips on how to determine proper entry, profit targets and stop losses. Lastly, to bring it all together, there’s a “behind the scenes” look at the author’s thought process as he walks you through a number of trades. While aimed at the reader with some exposure to day trading, the novice trader will also find much useful information, easily explained, on the pages within. In this book, you’ll learn…

How to start day trading as a business
How to day trade stocks, not gamble on them
How to choose a direct access broker, and required tools and platforms
How to plan important day trading strategies
How to execute each trading strategies in detail: entry, exit, stop loss
How to manage the trading plan