Due to the lack of practical trading books in the market, I have designed a practical e-book with a basic strategy for you to get your feet wet.
This e-book is available for free. You don’t need to mortgage your house to get it (you’ll receive when you request a live simulator of the trading platform). The e-book specifies where to get in a trade and when to get out. It also provides proper money management techniques to handle the trade from beginning to end.
No matter what trading strategy you decide to use, it needs to specify all of these things. Now, where were we? Ah yes, books…
There are too many authors nowadays that provide general trading information to the reader, but no specifics. This is dangerous.
When a new day trader does not know exactly a set of steps to follow, he might lose a lot of money before he figures it all out – IF EVER!
I think that starting out with a well laid out plan is crucial to build the discipline that is essential to become an effective trader.
Here are some trading books that I like (please note that not all of these will explain specific strategies or exact methodologies. Nevertheless, I think you’ll still benefit from reading about the experiences of the traders in them, regardless of how long ago the books were written):
- Reminiscences of a Stock Operator, by Edwin Lefèvre,
- How I Made $2,000,000 in the Stock Market, by Nicolas Darvas
- Market Wizards, by Jack Schwager
- Trading in the Zone, by Mark Douglas.
If you have a great book about trading that you think I’ve missed, please shoot me an email and let me know.