It may seem difficult to find books on market trading that seem ethical and trustworthy. It can be tricky finding a reliable source with values aligned with your own. There is a wealth of information available with many great books on day trading for new and experienced day traders alike. It’s important to keep up with changes and technological advances as things always happen fast on Wall Street, and technology is changing even faster.
In spite of the rapid changes, some basic age-old philosophies still hold value and we would like to share with you some of the best educational and interesting material for traders from timeless classics to modern documentaries set in today’s fragmented market setting. The following day trading books are sure to enlighten an up and coming trader the experienced quantitative trader.
- The Disciplined Trader, Developing Winning Attitudes
Mark Douglas wrote and published The Disciplined Trader in 1990, and it has been a valuable tool for traders at any stage in their career ever since. In this in-depth analysis of successful winning attitudes, Douglas evaluates the psychological practices of many successful traders. Douglas offers a chronological system for traders to understand and control their thought process, and reveals how you may inadvertently be limiting your earnings.
Douglas reveals three stages to becoming a successful day trader, and helps you understand how your very thoughts control your perception of the markets. Douglas helps us to reign in our emotions whether we’re experiencing some losses or having a profitable day.
In this modern and ever-changing market environment, staying focused on the market can be challenging enough, focusing on and controlling your psychological composure can be even more challenging.
While computerized algorithms are conducting quantitative trades, let’s not forget that the human factor drives those choices, even the automatic ones. Keeping control of your emotions can be the difference between profits or losses.
We give The Disciplined Trader two thumbs up and recommend that you give it a read.
- Trading Systems and Methods (5th Ed.)
Written by Perry Kaufman nearly 30 years ago, this day trading book provides techniques and tools to help day traders meet their goals. Trading Systems and Methods is available in the Fifth Edition with updates for the market environment today, and compares systematic methods in almost all areas including risk management, momentum, arbitrage and trends.
Kaufman gives details on each technique disclosed, and helps you to understand how to use them to your best advantage. Trading Systems and Methods provides more explanation on statistical and mathematical concepts of trading systems.
In this updated Fifth Edition, Kaufman gives more information on systems in the current market environment and the risk associated with those systems than in prior versions. This new version also includes access to a website packed full of extra materials, and spreadsheet for an interactive experience.
Trading Systems and Methods provides valuable reference material to current trading systems, revealing methods and techniques to use them advantageously as a successful day trader. We highly recommend adding this to your reading list.
Contact Great Point Capital, LLC today, in either our Chicago Office, or our Austin Office, to learn more about how we can successfully trade together with high performance results. Great Point Capital, LLC offers buying power, access to Takion software platform with excellent IT support, and the benefits of working with an experienced team.