Top 5 Books for Traders
Trading is more than what you see in Hollywood blockbusters and on the news. Like any skill, trading is a language that needs practice, dedication and refining. Over the years I have read dozens of books on money, trading and investments, which have helped tailor my approach to money, the markets, and risk management. In a bid to help you on your journey, here are my top five trading books:
The Psychology of Money by Morgan Housel
The Psychology of Money is essential reading for anyone interested in being better with money and business. It addresses the psychology behind our relationship with money which is largely involved in the trading world. Morgan Housel is full of fascinating ideas and practical takeaways to make this an easy-to-apply book.
Rich Dad Poor Dad by Robert T. Kiyosaki
Rich Dad Poor Dad is the best read for a complete attitude shift. The number one bestseller encourages traders to take control of their financial future and the rich version of themselves. Rich Dad Poor Dad is Robert’s story of growing up with two dads — his real father and the father of his best friend, his “rich dad” — and how both men shaped his thoughts about money and investing. The book expels the myth that you need to earn a high income to be rich and Robert’s no-nonsense approach is empowering, inspirational and relatable.
Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude by Mark Douglas
Mark Douglas highlights the key strengths and weaknesses often overlooked by traders. He discusses the psychology of trading and provides practical steps to deal with the emotions elicited by trading in a way that is easy to understand and apply.
Reminisces of a Stock Operator by Edwin Lefèvre
Reminisces of a Stock Operator is as relevant now as it was when it was first published in 1923. This book is for anyone who has ever found themselves confused by trading: should I buy or sell, should I invest in bonds or stocks? This book is a timeless classic that examines the thoughts and strategies of traders and the diverse set of characters and personalities makes it an entertaining read.
Market Wizards by Jack D. Schwager
In this collection of experiences, Market Wizards breaks down stories from trading’s biggest stars to create a set of actionable insights and guiding principles. With stories from market-beaters including Bruce Kovner, Richard Dennis, Paul Tudor Jones, this is one of the best books written about Wall Street.