Market Psychology Books Can Improve Your Trading Strategies
It is important to keep up with the markets, trends and trading styles. Books on trading, psychology, and different ways to analyse the markets can all help with this. All literature for trading traders we know of have made it a habit to always improve themselves, and be open to learn from others, and so should you!
It also includes a lot of practical trading knowledge which can still be applied to markets today, despite it being written a long time ago.
There are also quizzes at the end of every chapter to test yourself. With every example that the author gives, substantial statistics are also provided.
He has also done a comparison of different chart patterns and back-tested them to find out which ones do offer a real edge in the market, and which ones do not. Market Wizards This is probably the most popular trading book of all time, and many successful traders recommend reading it. The same traders also share their mindsets, goals, difficulties they faced when first starting out, and is an inspirational read to all aspiring traders out there.
It is a true story about how this group of people participated in a special trading program to teach ordinary people how to trade. They were given a 2-week crash course and left alone afterwards, and they successfully made millions — this book also documents the trend following strategy that these traders used to make their millions.
Best Day Trading Books:
Mind over Markets: Power Trading with Market Generated Information The essence of this book is about trading via market profiles, which is basically just chart interpretation that factors literature for trading time. According to the book, market profiles represents a more in-depth approach to trading because it takes into consideration a range day, trend day, high volatility day, which helps you formulate your own plans for trading.
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- Must-Read Trading Psychology Books for Every Trader
- So, what you can do is go down to your nearest library and borrow these books.
- Traders and investors come to the market to make fast and easy money.
Day Trading and Swing Trading the Currency Market: Technical and Fundamental Strategies to Profit from Market Moves This book is mainly about the effects of fundamental data on currency markets, which it does a very good job at explaining. This can be particularly useful for new traders, since most other resources out there focuses on technical analysis rather than market fundamentals. Following the Trend: Diversified Managed Futures Trading Trend following is important in trading, and in this book a large emphasis is placed on how to do it right.
This strategy is one of the most proved trading strategies that exists, and it is being employed by both large hedge funds and retail traders alike.
The author also walks you through the psychological aspects of trading and the reasons behind it, which is particularly important to understand in order to remain focused through the inevitable drawdowns that trend followers experience from time to time.
If you have other trading books that you would like to recommend, do leave a comment below to let us know!