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13 Best Trading Books for Beginner and Advanced Traders

  • 8 mins read
top trading books

Many people are looking for different ways to succeed in trading. Some take an online course, a private mentor, or decide to set a predetermined budget they can afford to lose in order to learn how to trade.

But in all cases, trading books are a great addition to any method or trading strategy you decide to take. These books can provide in-depth information, from technical analysis and trading psychology to understanding the dynamics of the markets, and picking the right financial instrument.

So, if you are looking for the best trading books you can find out there, then you’ve landed on the right page. In this post, we will list the top 13 trading books of all time for beginner and advanced traders.

Top 13 Trading Books of All Time

As expected, there are many trading books out there that can help you expand your trading knowledge.

Some of the books are fictional and tell you stories of other traders’ experiences, while other books are more practical and show different techniques and trading strategies to succeed as a trader. Of course, there’s no right or wrong, and it all depends on what you are looking for. 

So, with that in mind, here is our list on picking the right book for you based on the price, level, user reviews, and popularity:

Top Technical Analysis Trading Books

1. The Art and Science of Technical Analysis: Market Structure, Price Action, and Trading Strategies

the art and science of technical analysis, trading book

Author: Adam Grimes

The art and science of technical analysis is a must-read for every trader who wants to become a technical analysis expert. The book was published in 2012 by Adam Grimes and offers insights on profitable technical analysis chart patterns and trading strategies. 

Price: ranges from $40-$95 (e-book or print)

Best for beginners who want to learn the basics of technical analysis

Level: Beginners and intermediate

2. Charting and Technical Analysis

charting and technical analysis, trading book

Author: Fred McAllen

Another top-notch book about technical analysis is Charting and Technical Analysis by Fred McAllen. In this book, McAllen provides lots of information about technical analysis strategies, entry and exit levels, and setting stops and take profits. Though the reviews indicate that the quality of the images is poor, it is still one of the favorite trading educational books you can find in the market.

Price: $14.95 (paperback), $49.95 (hardcover)

Best for traders who want to expand their technical analysis knowledge

Level: All levels

3. Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications

technical analysis of the financial markets, trading book

Author: John J. Murphy  

Technical Analysis of the Financial Markets is considered a classic book to learn about… you guessed it – technical analysis of the financial markets. With 576 pages to read, this is a detailed book that contains everything you need to know about technical analysis, including chart construction, chart analysis, chart patterns, and technical indicators. 

Price: $49.99 (hardcover)

Best for all types of traders who are looking for a comprehensive technical analysis book

Level: All levels

Top Forex Trading Books

1. The Art of Currency Trading: A Professional’s Guide to the Foreign Exchange Market

the art of currency trading, trading book

Author: Brent Donnelly  

The Art of Currency Trading is a comprehensive book that helps traders understand how the forex market works and how to trade currencies profitably. Written by Brent Donnelly, who has been a successful interbank forex trader for more than two decades, the book covers a wide variety of topics, including different trading strategies, fundamental analysis tips, and techniques to become a successful trader. 

Price: $36.99 (hardcover), $39 (Kindle)

Best book to understand the forex market

Level: Beginners

2. Day Trading and Swing Trading the Currency Market

day trading and swing trading the currency market, trading book

Author: Kathy Lien 

If you plan to focus on day and swing trading in the foreign exchange market, this book could certainly be helpful for you. Kathy Lien’s book focuses on both technical and fundamental analysis and suggests different strategies to make short-term profits when trading currency pairs. 

Price: $35.62 (used) – $99.95 (new)

Best for forex day and swing traders

Level: Beginners and intermediate

3. Fundamentals Of Currency Trading: Mastering Technical Analysis, Fundamental Analysis, Trading Psychology and Risk Management

fundamentals of currency trading. trading book

Author: Karen Foo 

This book, written by Karen Foo, is not as popular as many trading books, but it certainly covers all aspects of forex trading. So, if you’re going to read one book about forex trading, then this book could be the book of choice for you.

In this book, Karen Foo shares her insights on technical and fundamental analysis, trading psychology, and risk management. Foo also explains the process of finding a forex brokerage firm, creating a forex trading plan template, and how to find useful websites for forex traders. 

Price: $28.8 (paperback)

Best overall book to learn forex trading 

Level: Beginners

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Top Stock Trading Books

1. Reminiscences of a Stock Operator

reminiscences of a stock operator, trading book

Author: Edwin Lefèvre

Published in 1923, the Reminiscences of a Stock Operator remains, until today, a must-read book for any trader who wants to enter the trading arena. The book, which was written by one of the greatest traders of all time, Edwin Lefèvre, tells the story of Jesse Livermore, who allegedly earned and lost millions of dollars at the beginning of 20 century. 

Though the book is fictional and does not contain many practical trading tips, it is a valuable book for stock traders and investors. 

Price: $12.94 (paperback)

Best trading fiction book

Level: All levels

2. A Beginner’s Guide to the Stock Market: Everything You Need to Start Making Money Today

a beginner's guide to the stock market, trading book

Author: Matthew R. Kratter

If you are a beginner who wants to start trading stocks, then this book is for you. The author Matthew R. Kratter, a former hedge fund manager, explains the essential things you need to know to make the first steps in the stock market. Inside the book, you will find explanations about how to find a brokerage firm and open a trading account, place an order, read stock price quotes, and more.

Price: $6.99 (paperback)

Best overall book to learn stock trading 

Level: Beginners

3. Learn to Trade Momentum Stocks

learn to trade momentum stocks, trading book

Author: Matthew R. Kratter

Learn How Trade Momentum Stocks is another excellent book by Matthew R. Kratter that shows a unique investment strategy – finding and trading momentum stocks. At just 76 pages, this is a short stock trading book, offering readers a new trading strategy to trade the markets. By finding the current financial trends in the stock market, Kratter’s book explains how this trading system works and what is the magic formula to evaluate the intrinsic value of stocks and better understand value investing. 

Price: $6.99 (paperback)

Best to learn how to trade momentum stocks

Level: intermediate and advanced

Top Trading Psychology Books

1. The Daily Trading Coach: 101 Lessons for Becoming Your Own Trading Psychologist

the daily trading coach, trading book

Author: Brett N. Steenbarger 

In The Daily Trading Coach, Brett N. Steenberger showcases his ways to control emotions and overcome the challenges traders face in reaching their targets. It is a simply written book with 101 lessons that provide lots of information and tips to help you become a successful trader. 

Price: $27 (Kindle), $28.11 (hardcover), and $9.99 (MP3)

Best for trading psychology tips

Level: All levels

2. The Disciplined Trader: Developing Winning Attitudes

the disciplined trader, trading book

Author: Mark Douglas

The Disciplined Trader, written by Mark Douglas, is considered one of the most classical trading books that explain the complexity of the psychology of trading and the importance of mental discipline required to succeed in trading.

In this book, Douglas explains the causes why the vast majority of traders cannot maintain consistently profitable trading methods and suggests different techniques to develop a disciplined trading routine. Much like another famous trading book, The Intelligent Investor, the Disciplined Trader provides unique investment strategies and the basic principles to trade successfully. 

Price: $26.58 (hardcover), $30.49 (Kindle)

Best for developing trading discipline

Level: All level

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

how to day trade for a living, trading book

Author: Andrew Aziz

How to Day Trade for a Living, written by Andrew Aziz, is a favorite of many who have read it and is considered one of the most comprehensive and practical trading books out there. Aziz, a Canadian trader, and official Forbes Business Council member covers all aspects of day trading, including chart patterns, risk management, discipline, and trading psychology.

Though the book primarily focuses on the stock and futures markets, it is a precious book for all traders who need tools and guidance on how to control their trading emotions and maintain a disciplined trading strategy.

Price: $15.99 (paperback)

Best book for day traders 

Level: Beginners

4. Market Wizards: Interviews with Top Traders

market wizards, trading book

Author: Jack D. Schwager

The Market Wizards, which was originally published in 1989, is a collection of interviews of dozens of successful traders who share their insights and stories about the trading world.

This book includes a T-bond futures trader who succeeded to leverage $25,000 into $2 billion in a single day. It is a classic read that has gained success and positive reviews over the years and is said by many to be one of the most valuable books for traders. 

Due to the success of Schwager’s first book, he has published four more books since then with the same concept of interviews with successful traders: The New Market Wizards, Stock Market Wizards, Hedge Fund Market Wizards (2012), and The Little Book of Market Wizards (2014).

Price: $26.73 (hardcover), $16.00 (Kindle)

Best for getting insights from successful traders

Level: All levels

Summary

To sum up, each of the books above can help you improve your trading skills and expand your knowledge, no matter which market you decide to focus on.

By reading trading books, taking an online course, and watching stock movies and trading documentary films, you can gain the knowledge to start your trading journey. Furthermore, you can also sign up for our free webinars, where you can discuss with our professional trading mentors and watch real live trading examples.

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