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What are the best day trading books for becoming a successful day trader?
There are a lot of different day trading books on the market, and it can be difficult to determine which one is right for you.
In this blog post, we will rank and review the best day trading books on the market.
If you did nothing more than reading and studying these 11 books, you would be setting yourself up for success as a trader, and be far ahead 95% of other people attempting day trading.
We will review them based on the practical application of what they teach, main pros and cons, and price; we will also discuss the benefits of each book and how they can help you become a successful day trader.
If you spend time learning the basics of trading, studying these books, and applying them to the markets, you will have an incredible foundation in day trading.
Let’s get into it.
What are the Best Day Trading Books?
- How to Day Trade for a Living by Andrew Aziz (Best trading overview for beginners)
- A Complete Guide to Volume Price Analysis by Anna Coulling (Best for learning how to use volume in trading)
- Trading in the Zone by Mark Douglas (Best for mastering trading psychology and emotions)
- Unknown Market Wizards by Jack D. Schwager (Best for seeing that trading is possible through others’ stories)
- Reminiscences of a Stock Operator by Edwin Lefèvre (Best for seeing how trading has never really changed)
- Options as a Strategic Investment: Fifth Edition by Lawrence McMillan (Best for learning to trade options)
- Algorithmic Trading: A Practitioner’s Guide by Jeffrey M. Bacidore (Best for learning how hedge fund algorithms trade)
- Technical Analysis Explained: Fifth Edition by Martin Pring (Best for a deep dive into technical analysis)
- The VIX Trader’s Handbook by Russel Rhoads (Best for learning how to trade the Volatility Index [VIX])
- The Wall Street Gang by Richard Ney (Best for a look behind the curtain of Wall Street)
- Mastering The Trade by John Carter (Honorable Mention)
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How to Day Trade for a Living by Andrew Aziz
Andrew Aziz’s “How to Day Trade for a Living” is a great starting point for beginner traders looking to understand how to profit from financial markets.
The book provides an overview of the trading process, from finding opportunities to managing risk to developing profitable day trading strategies.
Aziz also discusses the importance of mastering your emotions and developing a trading plan.
Overall, this is one of the very best day trading books for anyone looking to trade for a living, but especially for beginners.
Pros
- Comprehensive overview of successful trading
- Covers all key aspects of day trading
- Easy to read and understand
- Covers many successful technical analysis patterns and trading methods
- Complete beginner’s guide to day trading
Cons
- More experienced traders may find it too simple
Pricing
- $23.99
Bottom Line
If you are looking to become a successful trader, this book will set you on a solid path to profitability. It is a comprehensive guide to day trading.
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A Complete Guide to Volume Price Analysis by Anna Coulling
Anna Coulling’s “A Complete Guide to Volume Price Analysis” is an excellent resource for anyone looking to learn how to use volume in their trading. Whether you are day trading stocks, futures, or a currency market, this is ESSENTIAL reading in learning to day trade.
The book provides a comprehensive guide to using volume to identify and trade trends.
Coulling also provides clear explanations of how and why volume behaves the way it does in the market.
This book is essential reading for anyone wanting to make money day trading.
Pros
- A deep dive into how understanding volume can clue you into fake vs. real moves
- Helps you spot high probability trading opportunities through Volume & Price
- Applicable to all markets including the stock market, forex market, crypto, and trading futures
- Provides essential trading knowledge for both day trading and swing trading
Cons
- The formatting and editing can be hit or miss at times
Pricing
- $23.99
Bottom Line
Understanding volume is key to developing a powerful day trading strategy, and this book is widely considered the ultimate guide to successful technical analysis through studying volume and price.
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Trading in the Zone by Mark Douglas
“Trading in the Zone” is one of the most popular books on trading psychology ever written — and for good reason.
Mark Douglas teaches traders how to stay in control of their emotions, make rational decisions while trading, and develop a winning attitude.
Douglas also provides a wealth of information on risk management and how to develop a successful trading plan.
This book is an essential read for any trader who wants to improve their performance in the markets.
In fact, I would say that unless you know and apply the strategies taught in Trading in the Zone, you will never be a successful trader long term.
Pros
- The only book you need on proper trading psychology
- Will teach you why traders fail, and how to ensure you are not one of them
- Explains how to become ok when you lose money by thinking in terms of probabilities (just like a casino does)
- Essential for trading all markets (both for day trading and swing trading)
- Will show you a step by step plan to becoming both a disciplined trader and a consistently profitable trader
Cons
- None
Pricing
- $23.99
Bottom Line
If you are serious about learning day trading (or swing trading), Trading in the Zone is absolutely essential reading. This book has single-handedly turned thousands of traders profitable who had been struggling for many years before.
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Unknown Market Wizards by Jack D. Schwager
“Unknown Market Wizards” tells the stories of some of the most successful stock and options traders in history.
Schwager interviews well-known traders, asks them about their strategies, and finds out how they became profitable.
This book is a great read for any trader who wants to see that trading is possible through real-life stories of experienced day traders and swing traders who have already “made it”.
In Schwager’s view, a stock market wizard is nothing more than a normal person who has figured out a trading strategy that works with their strengths.
Pros
- Gives an insight into the minds of some of the most successful traders
- Details many different successful trading strategies, showing that you can find a trading style that best fits your personality
- Will inspire you to achieve your trading goals
- Provides valuable lessons on risk management and trading psychology
- Details how many of the pros manage risk
Cons
- None
Pricing
$35.00
Bottom Line
If you are looking for inspiration, or want to know what it takes to be a successful trader, Unknown Market Wizards is a must-read.
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Reminiscences of a Stock Operator by Edwin Lefèvre
“Reminiscences of a Stock Operator” is the story (told in historical fiction format) of Jesse Livermore, one of the most successful traders in history who is considered a pioneer of day trading.
Livermore started trading at the age of 15 and went on to become a multi-millionaire (a multi-billionaire in today’s dollars) by shorting the stock market during the Crash of 1929.
Livermore was a master of technical analysis, volume analysis, and reading the tape; his techniques are just as relevant today as they were over 90 years ago.
This book is required reading for all traders as it shows how one of the wealthiest traders in history made his fortune and gives a clear example of how the profession of trading is largely the same as it was 100 years ago.
Pros
- Engaging story in novel format
- Countless quotable moments to help you develop a trader’s mindset
- Still applicable to modern trading in regards to psychology and even technique
Cons
- At times the language of that era can be difficult to read
Pricing
- $12.99
Bottom Line
Reminiscences of a Stock Operator should be required reading for everyone wanting to be a professional trader. It’s a behind-the-scenes look at how one of the wealthiest traders thought about trading the markets.
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Options as a Strategic Investment: Fifth Edition by Lawrence McMillan
“Options as a Strategic Investment” is the most comprehensive and practical book on options trading.
It covers all the basics of puts, calls, and options strategies ranging from basic to advanced.
It also details how to use options as a hedging tool, which is an important concept for all traders to understand.
This book is the absolute best book for anyone wanting to use options in their trading. Options trading is a risky endeavor, but this book makes it much more doable.
Pros
- Great for beginners and advanced traders alike
- Explains options strategies in great detail with easy to follow examples
- Helps you understand how to use options as a hedging tool
- Details many different strategies for different market conditions
Cons
- Probably best to have some basic level of knowledge on trading and options before diving into it
Pricing
- $50.99
Bottom Line
If you are interested in options trading, this is by far the best book on the subject.
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Algorithmic Trading: A Practitioner’s Guide by Jeffrey M. Bacidor
It is estimated that anywhere from 60-80% of all trading volume is generated by algorithms, and thus it is extremely important to understand how algorithms are created and implemented so you can trade with them, and not against them.
“Algorithmic Trading: A Practitioner’s Guide” is the best book on this topic.
It covers all you need to practically know in order to begin profiting from algorithms in your trading.
Pros
- Gives a practical guide to how algorithms work without overloading you with too much detail
- A comprehensive overview of everything you need to know about major fund algorithmic trading as a retail trader
- Provides an in-depth overview of the most widely used algorithms running today
Cons
- Doesn’t include deeper details of actually coding an algorithm if you’re trying to build one yourself
Pricing
- $45.99
Bottom Line
If you have any interest in algorithmic trading and learning how major market players are using it to their advantage, this is a must-read.
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Technical Analysis Explained: Fifth Edition by Martin Pring
Widley considered the “bible” of technical analysis, “Technical Analysis Explained” is a must-read for anyone looking to grow in technical day trading methods.
This book is an exhaustive guide that covers everything from the basics of charting to more advanced concepts like Elliot Wave analysis.
Pros
- A comprehensive guide to the basics of technical analysis
- Goes into great detail on many different concepts
Cons
- Can be dense reading for beginners
Pricing
- $67.99
Bottom Line
If you are a technical trader or are interested in becoming one, this is an excellent introduction to the fundamentals of technical analysis.
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The VIX Trader’s Handbook by Russel Rhoads
The VIX, or Volatility Index, is a popular measure of market volatility that is often used by traders to gauge market sentiment.
“The VIX Trader’s Handbook” is the best book on trading the VIX.
It covers everything from the basics of what the VIX is and how it is calculated, to more advanced concepts like VIX options and futures.
This book is a must-read for anyone interested in trading the VIX.
Pros
- A comprehensive guide to the VIX, how it works, and how to profit from trading volatility
- Does a great job of giving practical trading application without getting too far into non-essential details
- Provides a framework for successfully trading volatility
Cons
- Not for the beginner day trader
Pricing
- $40.99
Bottom Line
If you are interested in trading the VIX, this is the best book on the subject. It covers everything you need to know to get started.
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The Wall Street Gang by Richard Ney
“The Wall Street Gang” is a great book for anyone interested in learning more about the inner workings of Wall Street, and how the powers of the stock exchanges are taking advantage of normal retail investors.
Written back in the 1970’s, the overarching information is in may ways still applicable today. It gives an insider’s look at how the stock market works, what goes on behind the scenes, and how to make money from it.
While not a book specifically for day traders, it is an essential read if you seek to understand how the markets really work in a historical way. And as they say, “there is nothing new under the sun”.
Pros
- A great look behind the curtain of Wall Street
- Gives an insider’s perspective into the psychology of the biggest banks and traders looking to take advantage of you
- Historical account of how the professionals of the stock market are trying to take advantage of people in the 1970’s (and are still doing the same thing today)
Cons
- Can be a dry read at times
- Pricey book
Pricing
$97.99
Bottom Line
I wouldn’t start here, but if you are looking to further your understanding of how Wall Street ticks, this is an essential read.
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Mastering the Trade by John F. Carter
“Mastering the Trade” is written by professional trader and educator John F. Carter.
The book walks readers through a host of different trading setups that have been proven to be profitable time and time again.
Each setup is accompanied by clear charts and explanations so that even beginner traders can understand and apply them.
Pros
- Details proven setups and non-negotiable trading rules
- Gives you exact entry, exit, and stop loss placements for different setups
- Emphasis on proper risk management to keep you successful long term
- Consistent with other books on this list in teaching traders to think probabilistically about the markets
- Learn to trade stocks like the pros
Cons
- Some fluffy writing make it a longer read than it should be
- Some may be turned off by the promotion of John Carter’s private membership
Pricing
- $54.99
Bottom Line
Mastering the Trade is a good book for beginner traders who want to learn how to take advantage of intraday and swing trading setups.
Can you learn day trading from books?
The answer is both yes and no. You can certainly find a wealth of knowledge in day trading books, however, it’s important to remember that these are just tools in your toolkit.
The most important things you need to succeed as a day trader are discipline, persistence, and a willingness to learn; the best way to get these qualities is through experience and actually being in the financial markets.
Begin by risking very little on every trade you take (like, risk $0.10 per trade) until you are consistently profitable over several months. Then slowly increase how much you risk per trade over time.
What is the most profitable day trading strategy?
The most profitable day trading strategy is one that you have back-tested, one that you trust, and one you can stick with in a disciplined way.
In my opinion, most indicators are worthless, so a strategy revolving around the price chart (candlesticks), volume, and liquidity (level 2) will produce the best results.
Is day trading still profitable?
Yes, day trading online is still profitable.
However, it’s important to remember that you’ll only start making money with it if you put in the time and effort to learn how to do it wisely.
If you are looking for a get-rich-quick scheme, day trading online will leave you broke and depressed. You will lose money at first, but if you persist in growing, you too can join the top ranks of day traders.
If you are looking for a profession that you can learn and master over the next 2-5 years, day trading can produce unimaginable income if you learn the best trading tools, high probability strategies, and good money management.
What are the best trading platforms for beginner day traders?
Conclusion
Successful day traders are the ones who never give up and who are constant students, so don’t expect to get very far if you’re not willing to put in the time learning from the best.
Day trading can be a profitable venture, but it is important to remember that it takes time and effort to learn how to do it wisely.
The books on this list provide a wealth of knowledge for traders of all levels, from beginner to advanced.
So whether you are just starting out or looking to further your understanding of the markets, these are the best day trading books that will help you become a successful day trader.
Husband of 10+ years, father of 4, and savvy in all things (ok, let’s be modest, most things) personal finance. My aim is to help free a generation from the chains of dumb money habits destroying lives. I’ve made my fair share of mistakes along the way, but through a slightly obsessive pursuit of financial freedom, I’ve learned a thing or two. Now I’m here to share it.