I’ve always been fascinated with money and investing. Trading is but one segment of the market, but it’s one that creates a lot of drama and excitement that draws people in—and that creates great stories. I also want people to do their research before they trade, because so many people lose money. Preparation, discipline, and strategy improve the odds of success. I’m a long-time financial author and consulting analyst. I have an MBA and am a CFA charter holder, the whole bit, and want to make financial information more accessible. There are a lot of people with a vested interest in making things more complicated than they need to be.
By Ann C. Logue
Due to the fluctuating economy, trade wars, and new tax laws, the risks and opportunities for day traders are changing. Now, more than ever, trading can be intimidating due to the different methods and strategies of traders on Wall Street. Day Trading For Dummies provides anyone interested in this quick-action trading with the information they need to get started and maintain their assets.
From classic and renegade strategies to the nitty-gritty of daily trading practices, this book gives you the knowledge and confidence you'll need to keep a cool head, manage risk, and make decisions instantly as you buy and sell your positions. If you’re someone who needs to know a lot about day trading in a short amount of time, this is your place to start.
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By Michael Lewis
This is a fun look at what it was like to work at Solomon Brothers in the 1980s. It’s also a great description of trading culture. Liar’s Poker launched Michael Lewis’s career while it took John Gutfreund, who was then CEO of Solomon Brothers, down a few pegs. Solomon Brothers is no more; even huge trading firms get busted.
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By Charles Mackay,
Bubbles happen all the time, and this book chronicles a few of the earliest documented bubbles. Human beings are weirdly susceptible to these. Traders like to say that the four most dangerous words in the English language are “This time is different.” History mostly repeats, but every now and again, things really are different. If you can separate the Next Big Thing from the Next Big Bust, you’re golden. Can you do that?
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By Sun Tzu, Skyhigh Publication
This is a 2500-year-old guide to warfare, attributed to a Chinese general. I don’t think this book actually helps with trading, although it seems to be a membership card into the order of traders. Have it on your bookshelf, and other traders will be impressed! It’s also a good reminder that trading is about discipline and strategy. Those are the first principles to success.
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By Russell Rhoads
Great trades come from market analysis, not hot tips on Reddit. Candlestick charts contain an enormous amount of information about market trends and activity. Learning charting takes some time, and this book is a great start. Whatever system you decide to follow, make notes of your trades. Plan them out, then note what worked and what didn’t.
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By Warren Buffett
Warren Buffett is public and candid about his investment choices. He writes his views up every year in the Berkshire Hathaway annual report filed with the SEC. He’s well known for his buy-and-hold investment style. He is less well known for his trading prowess, but Warren Buffett is very much a trader. Pay attention to his discussion of currencies and commodities. There are few better ways to learn about the markets.
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