Zone trading. Books on trading for beginners. Review of literature recommended for novice traders An excellent book for an investor from Graham

25 best books on trading, download for free and without registration. Valuable literature most often recommended by market professionals...

I present the best books on trading, which are most often recommended to be read by successful traders, books that are discussed on forums, bestsellers, literature that really helps in trading.

The best place to start when looking for literature on trading is this course. The information from this course is the best I have seen about trading. It contains the most complete information about all aspects of trading - be it technical analysis, fundamental analysis, trading psychology or practice.

John Murphy "Technical analysis of futures markets: theory and practice"

One of the most popular books on trading, which is called the bible of technical analysis. The author teaches technical analysis to beginners from the very beginning in an accessible language. The book covers almost all aspects of analysis: graphical, indicator, candlestick, point-digital, wave, volumetric, computer, using the Gann technique.

Edwin Lefebvre "Memoirs of a Stock Speculator"

One of the immortal books about the stock exchange, written in 1923, will help you plunge into the past and benefit from it. The book is based on real events - the author of the book interviewed the main character of the book, Jesse Livermore, for several weeks. Jesse Livermore often said that nothing new can happen on the stock exchange because human nature does not change, and he was right. Several generations have been learning to trade using this book, and the markets continue to live according to the same laws as 100 years ago.

12 more fiction books in the trader's library ->

Jack Schwager "Technical Analysis. The Complete Course"

The book, written by a recognized expert, is often recommended by market experts for beginners. The extremely informative volume of about 800 pages consists of 3 parts. There is theory and practice. The proposed tasks include analyzing the transaction and asking whether you agree with the assessment; then it will be shown how the market behaved.

Eric L. Nyman "The Trader's Little Encyclopedia"

The trading encyclopedia contains almost all aspects of trading. Here you will find a course in technical analysis - graphical analysis, candlestick analysis, Elliott wave theory, fundamental analysis. Lots of graphs, formulas and diagrams will help you master the material faster.

Alexander Elder "How to play and win on the stock exchange"

Alexander Elder's books are very successful. Each of his books is another bestseller. Who else knows the problems of a novice trader, because he himself went through a difficult path.

Bill Williams "Trading Chaos"

Bill Williams is a successful trader with millions of dollars in his account. His trading experience is about 40 years. Bill is the author of unique indicators built into almost every trading terminal. Trading merits can also be attributed to teaching - Bill Williams is a talented teacher who has taught thousands of people how to play successfully.

Mark Douglas "Zone Trading"

Why is it so difficult to play on the stock exchange? And why can’t many very smart people play the stock market successfully? The answer is that psychologically it is very difficult to set yourself up for a good game. It is this problem that will be discussed in this book; a number of tips will be given on how to achieve discipline and what you should pay attention to.

Lewis Borsellino "Day Trading Primer"

The author is one of the best traders in America who has earned many tens of millions of dollars. The author has something to tell, because before Lewis rose to the very top, he had to go through a very difficult path, which is described in the autobiographical book, which you can find on the website.

Problem book on day trading + Borsellino’s autobiographical book in the trader’s library->

Van Tharp "Super trader. How to make money on the stock exchange in any conditions"

The author claims that he can turn you into a super trader! The author, a famous teacher of stock trading, will teach you not only his game strategies, but also give valuable advice on how to avoid psychological mistakes, how to set goals correctly and achieve them. Step by step, Van Tharp will instill in you the correctThis is the mindset that will help you achieve success on the stock market.

Steve Nison "Japanese candlesticks: graphical analysis of financial markets"

It was Steve Nison who discovered Japanese candlesticks to the West - such a method of analysis now and the most popular style of depicting charts. The book thoroughly examines candlestick patterns and explains their psychological basis. The book is written in simple language that beginner players will enjoy.

Alexander Gerchik "Active Trader Course"

Gerchik is a multimillionaire, a living trading legend. Having arrived in the United States with minimal education, he achieved enormous success in playing the stock market. For 10 years, Alexander did not have any unprofitable months. in 2006, Gerchik starred in the TV series “Wall Street Warriors,” beating out 2,000 of the most talented traders.

Jack K. Hutson "The Wyckoff Method"

Books by early explorers are always interesting. Here is a book written back in 1908 by Jack Wyckoff. In 1888, Jack got his first job delivering stocks and securities to Wall Street clients, and for 10 years he would learn on the job by seeing how people played the stock market. Hutson avoided news and reports, preferring "informed judgment." He said that a trader must be a “detective” first of all.

20 more books about methods of playing on the stock exchange in the trader's library ->

Richard Smitten "The Life and Death of the Greatest Stock Speculator"

If you have read "Memoirs of a Stock Speculator", then this book also talks about the "real" Jesse Livermore outside the game, with failures, problems with wives and sons, with severe depressions and of course about the triumph of 1929, when Livermore made a fortune from the collapse at 100,000,000 dollars. A lot of attention - almost 100 pages is devoted to Livermore's playing style, his train of thought, this makes the book interesting for absolutely everyone.

A book written by Livermore himself in the trader's library ->

John. J. Murphy "Visual investor. How to identify trends"

A book from the author of the famous book called the "bible" of technical analysis. 5 years later, John released this book, which also became a success. The book complements the past with numerous examples.

Robert Fisher "Fibonacci Sequence: Applications and Strategies for Traders"

To understand what the Fibonacci sequence is, you need to think about the nature of the universe, look at the universe and the world around you. Back in the 13th century, Thomas Aquinas identified the “correct proportions” that can be found everywhere. Thomas took the Fibonacci number series as a basis.

V. N. Likhovidov "Fundamental analysis of world currency markets"

A book about fundamental analysis of the Forex market. Here you will find explanations of indicators that are published in reports, explanations are given of how banks influence the market, and their tools of influence. There are many examples of the relationship between currency markets and other exchanges.

Lance Begs "Price Action Course"

Price Action is a very popular method of forecasting markets. Lance Beggs's book is one of the most popular on this topic. Lance is a former military pilot, he admits that his profession greatly helped him develop the psychology for successful trading on the stock exchange. After all, here, more than anywhere else, discipline and adherence to rules are needed.

Robert Colby "Encyclopedia of Technical Market Indicators"

Here is the second, significant expanded edition of more than 800 pages. The work describes in detail the main indicators (more than 100) that are used in trading on the stock exchange. Robert Colby is a well-known specialist in the field of technical analysis; this book is often recommended by successful traders.

Ketty Lin "Day trading in the Forex market. Strategies for making a profit"

Day trading is a very popular style of forex trading. The author, Ketty Lin, is a renowned teacher and world-class specialist. No matter how long you have been trading on the stock exchange, everyone will find something useful for themselves in this book. The book is well designed, with many graphs and practical examples.

Ralph Vince "The Mathematics of Money Management"

The topic of “money management” is not so common in the book world of stock market literature. This book is one of the most popular. If you love mathematics, the book will help you look into the world of money management statistics in stock trading.

Jack D. Schwager "Stock Wizards. Interviews with Top Traders"

There are simply good traders, and there are brilliant ones. The book contains interviews with top traders who have achieved incredible success. For example, a trader who earned 250,000% in 16 years of work, or made 80 million from a capital of 30 to 80 million! Such literature motivates you, you will want to learn better how to play the stock market.

Adam Smith "The Stock Exchange is a Game for Money"

An exciting fiction book about the stock market game on Wall Street. The translator assures that it is impossible to stop reading, and you are guaranteed 2 sleepless nights. The book will shock an experienced player - the book contains many new thoughts, even adventurous ones.

Not all books are here! Visit the library:

The trader's library includes more than 150 books about the stock exchange! ->

How to supplement learning from books?

Everyday on weekdays (from 6:30 to 18:30 ) free online classes are held - per weekmore than 50 (!)various lessons - theory and practice of trading. Conducted by teachers in real time, practical lessons are taught real experienced traders.

Free / no registration required. There is a chat. I recommend!

Motivation for learning to trade - results from real traders

millionaires (profitability charts, detailed discussion of work):

P Why do some forex brokers have % of successful clients?

Reaches up to 40%, while for others it does not reach 5% ?

Modern trading is not an archaic collection of men communicating using a system of gestures. Business, which allows you to earn and lose decent fortunes on the stock exchange, has long moved to virtual worlds and has become available to anyone who knows how to use a computer.

Over the decades, hundreds of books for traders have appeared in the world, created by specialists from leading, economically developed countries, designed for readers of different levels of training and perception. Trading is not a simple area of ​​financial activity; a specialist who wants to be successful and in demand in this area must constantly improve himself by studying literature.

Publications devoted to the topic of trading are divided into several categories; in addition to historical works and general monographs, on the shelves of libraries and stores there are texts on the psychology of trading, descriptions of the life path and achievements of legends of the financial world, behavioral finance and even thematic works of fiction. According to the reader's purpose, all literature is divided into books for beginners, self-confident traders and professionals.

Thousands of domestic and translated publications on trading are published in printed and electronic formats, they can be found on the Internet, in bookstores, and libraries. Lately, information has been provided in video tutorials and webinars, but these are all additional types of information that do not replace the benefits of reading a book written by a venerable author or a financial guru who is experienced in the field of trading.

10. The Art of War for Traders and Investors By Dean Lundell

Philosophical thoughts on the correct conduct of war were outlined by the master Sun Tzu many centuries ago. The treatise with the ideas of the Chinese warrior formed the basis of the work of the modern author Dean Lundell, who put the leitmotif of the ancient thinker into a modern form.

The golden rule of warfare was laid down by the Chinese almost two and a half millennia ago. According to the commander, to achieve military success, you need to choose the right tactics and apply them in proportion to the strategy. Lundell believes all of this applies to trading as well. The author systematized and processed the postulates of the ancient commander for the modern reader, explaining how they can be applied when working on the stock exchange.

It is not enough to know thoroughly the theoretical aspects of the market, but to have a seemingly win-win tactic. According to the theory processed by Lundell, it is much more important to be able to deal with your own fears, which prevent you from continuing your activities and striving to become successful. You need to build your line in such a way as to constantly improve, successfully remove self-doubt and indecision into the background, defeating yourself first in order to then get winning positions in trading.

The main idea of ​​the book is that the course of the battle is the same both on the battlefield and in trading, but the winner will be the one who has mastered his fears and taken the right path. Tactics and strategy are also important, but the main thing in this matter is the human perception of what is happening.

9. “Trading mechanism. How to build a business on the stock exchange" Author Timofey Martynov

The monograph of a venerable trader, a leading domestic specialist in this field of financial activity, was created for beginners and experienced traders. In a relatively small publication, the author managed to cover a lot of topics; the table of contents alone takes up several pages.

Under the cover, the reader will find the author’s personal success story, an analysis of his financial failures, accessible information about the structure of the market and ready-made schemes for conquering it. On the pages there is practical material on the structure of domestic trading, its hidden problems, recommendations on developing strategies and market directions. The book is one of the best, allowing a beginner to understand what he plans to do, helping to realistically assess his capabilities, deciding to devote himself to business or switch to another line of activity.

A separate layer of information telling you how to develop a personal strategy, where to get it from and how to use information to analyze the current situation on the stock exchange.

8. “Visual investor. How to Spot Trends by John J. Murphy

It turns out that you can work with the stock exchange using various information visualization techniques, without being distracted by more complex methods of studying the data obtained. It’s enough just to learn how to build graphs, and John Murphy’s manual will tell you how to do this and apply the results in practice.

By constructing a graph, you can use it to calculate the characteristics of a specific offer, determine the direction in which the movement of stock prices is developing, the degree of support and pricing of the market. Drawing charts will allow you to effectively work with trends, track them, calculate trendless markets, and the degree of their overbought. All these things are presented in a completely accessible style, with a consistent explanation of key aspects. The text contains many examples and supporting illustrations.

7. “Technical Analysis of Financial Markets” By John J. Murphy

Another work of the author is a bestseller of financial literature, which takes pride of place on the shelf with books on technical analysis. The publication reveals complex issues that are not always easy to understand, but the material is presented in a very interesting form.

The book is a full-fledged industrial reference book presenting an analysis of tactics and strategies of classical trading; the author analyzes the tools, trends, models and cycles necessary for work. This publication also contains the topic of charts as an effective visualization tool for working with stock exchange information. This well-illustrated book is aimed more at experienced traders; beginners should start by studying Murphy's previous work.

6. “Trading with Dr. Elder. Encyclopedia of stock trading" Author Alexander Elder

This publication should become a reference book for individuals who want to achieve success in trading. Beginners will find accessible answers in its chapters, find tips on money management, and an analysis of psychological issues that hinder or help in running an investment business.

The diverse book covers the psychological aspects of business, including analysis of mass behavior. There is also an analysis of typical mistakes made by businessmen, as well as recommendations for the correct creation of your own structures and accounts. Plus, in later reissues there is a translation of the author’s diaries, in which he recorded the step-by-step execution of several transactions. Here he explains why he made this decision. The book is recommended to everyone who is taking their first steps.

5. “Basics of stock trading” Author Alexander Elder

Another publication by the author is a manual for people just mastering business, a full-fledged bestseller on technical analysis and psychology. The main emphasis is on psychology as a means of working for a successful trader. First of all, a person must cope with his own emotions and fear, and then use the acquired knowledge when working to generate income.

Additionally, the art of calculating charts is discussed, including using computer programs and capital control. Emphasis is placed on the use of classical technical analysis and similar tools.

4. “Exchange at your fingertips” Author Viktor Ilyin, Valery Titov

Recommended for beginner traders and people who are just planning to choose this type of earnings. Information for online traders is presented in a very accessible form, revealing all the mechanisms of the stock exchange. Beginners will find useful chapters that discuss the nuances of trading on the market, the secrets of managing and increasing money.

For a more complete disclosure of the issue, the authors make a short excursion into history, but modern solutions to issues that have arisen at all times are also discussed here. A separate chapter is devoted to the legal and economic aspects of working with securities. Others fully cover issues of information analysis and alternative tools used on the stock exchange.

3. “Think big and don’t slow down!” Author Donald Trump

The work, written by the President of the United States, has long been in the top ten books for traders and among the literature recommended for reading by people who want to achieve a high position. On its pages is a politician's success story, only from a financial point of view. The main idea is that you don’t need to slow down, you need to think globally. Is his advice realistic? And to do this, you just need to look at the income the Trump corporation receives annually.

Surprisingly, the tycoon’s recipes are indecently simple and quite applicable even in everyday life, not to mention the work of a trader. Only a persistent person can become rich - this is what Trump writes. As a bonus, the author described several awkward situations from life and told how they turned out for him.

2. “The Path of the Turtles.” From amateurs to legendary traders" Author K. Feis

One of the top books in the beginner's pile, a bestseller, a must-read. It describes an interesting experiment (previously classified) conducted by a trading guru. On a dare, the trading legend found a suitable person and taught him the intricacies of the art of trading on the stock exchange, making him a successful trader.

It is precisely in this book that the process is described, revealing the professional secrets of the master (tactics, strategies, risks). The publication is more historical, describing the work of the legendary “turtles”, individuals who became rich in just a few months.

1. “Trading is your path to financial freedom” By Van Tharp

One of the translated publications, from the best specialist for beginners on the stock exchange. The best of the books gives detailed answers and suggests how to solve the eternal problems of novice traders. The author sets the stage for success, explaining that mistakes and failures are caused solely by the inability to correctly interpret the current situation and find the right way out; at the same time, schemes for beginners are prescribed and an analysis of typical situations and mistakes is made.

The outlined fundamentals of technical analysis tell us about the right directions in activity, the intricacies of work and the need to develop your own strategy, which is especially necessary at the beginning of a career. The author answers why everything is difficult in the learning process and how to believe in yourself by starting a business.

In order to become a successful specialist in the field of trading, you need to read more than one or ten books; high-quality publications will help you form basic knowledge and give impetus to further development. Books written by experienced people always contain answers to the basic questions of beginners. On their pages, complex situations are analyzed and diagrams and recipes for solutions to frequently encountered problems are provided. From works of art, we can recommend studying “The Prisoner of the Chateau d’If” as an example of achieving success with a “negative” life balance.

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-Description of books-

-Fundamental Analysis-

1. “Financial reporting for managers and beginners”

Reports season is the best time for a day trader: there are a lot of good movements associated with the release of company reports, volumes appear on the market and the chances of earning money skyrocket to the maximum. Financial reporting is one of the key indicators that most traders monitor in the market. The author presents this book as a textbook and introduces the reader to the basics of financial analysis in clear language. The book is very easy to read, there are tasks for you to solve on your own, real examples from the financial statements of companies such as Microsoft, Intel, Gazprom, etc. If you want to study financial statements and not get confused by the numbers, we advise you to read this book.

3. “Investment”

There is a legend among traders - whoever reads this textbook and understands it will take big money out of the market.

-Technical analysis-

1. “Technical analysis of financial markets. A Complete Guide to Trading Methods and Practices”

A classic book on the fundamentals of technical analysis. John Murphy talks in detail about plotting charts and methods for reading them, and defines terms such as trend, time cycles, and market indices. I advise you to read it for a better understanding of the market structure.

3. “Scalping Guide”

In this manual, Anton talks in detail about the basic concepts in the NYSE market, gives the rationale for ECN, types of orders, indices and much more, a Must Have for beginners. DOWNLOAD THE MANUAL

-Fiction-

1. “Short game. The secret springs of financial disaster"

The book is set during the 2008 global financial crisis and tells several stories of real people who found a weakness in the global financial system and bet everything on its collapse. Lewis's writing is simple and concise, explaining complex things in simple and understandable language, making the book a very easy and quick read.

2. “Memoirs of a Stock Speculator”

“It's a bull market!”

A book that has become a classic of stock market literature. Many traders have read this book several times and constantly found something new. Lefebvre tells the story of Jesse Livermore, history's greatest trader, and his successes and failures. Despite the fact that the book was first published almost a century ago, much of it remains relevant to this day, since human psychology has not changed for centuries, the market is ruled by the desire to earn easy money. For me, the book remains the best I have ever read on the topic of trading.

4. “The Lord is my broker. Seven and a half laws of spiritual and financial growth"

A former trader from Wall Street, looking for an opportunity to start a new life after complete ruin, goes to a monastery. The hero of the book expects a calm life without worries and fuss, he expects a spiritual life. But it was not there. A book by Deepak Chopra falls into the hands of the abbot and life in the monastery changes, the prayer book is replaced by books by Stephen Covey. The monastery's fortunes are growing at a breakneck pace, as are its expenses. If you want to relax and laugh, then this book is just for you.

6. “Ball of Predators”

Wall Street in the 1980s was a greedy and cutthroat place, with aggressive takeovers, junk bond trading, insider trading, and much more covered in this book. The story of Michael Milken and Drexel Burnham Lambert.

8. “Liars' Poker”

Lewis shares his experiences while working for Salomon Brothers in the 1980s. The book describes the times of bond trading.

-Psychology of Trading-

1. “Psychology of trading. Decision Making Tools and Methods”

We mentioned Brett Steenbarger in our review of . In his book, Steenbarger describes the most common psychological problems in trading and offers solutions to them: overtrading, fear of entries, stupid investment decisions. The book contains real life stories and examples from doctoral practice that will help you understand some of the subtleties of trader psychology.

3. “Disciplined Trader”

The book by popular trading psychologist Mark Douglas has long become a classic in the United States. Mark shares his experience of trading in the futures market, but not from a technical point of view, but from a psychological one. The author talks about the most common mistakes in trading: early coverage, transplantation, overtrading, fear, not following the system and many other mistakes that each of us has made at least once.

- Behavioral Finance-

1. “Think, fast and slow”

Nobel laureate Daniel Kahneman talks about human behavior in general, how our thinking works and why we do what we do. Each of us commits impulsive actions, but Kahneman sheds light on this and explains why we act the way we do.

3. “Irrational optimism. How reckless behavior drives markets"

Nobel laureate Robert Shiller in his book explores the so-called “bubbles” in the stock market and how excessive optimism leads to disastrous consequences. Much of the text is devoted to the turmoil in the American stock market over the past 20 years: the boom in the technology market, the collapse of the real estate market, but the main difference between Shiller and most academic studies in economics is that human psychology is taken into account.

5. “Predictably irrational”

Dan Ariely has done extensive research that addresses the issue of decision making and what really influences it. After reading this book, you will understand many things that worried you before: how to stop making impulsive actions, how to wisely approach the distribution of funds, and many other answers you will find on the pages of this book.

7. "Quantum. How math wizards made billions and almost crashed the stock market"

A real textbook on the history of the development of algorithmic trading as a separate line of business on Wall Street. Dispels the myths that algorithmic trading is a miracle or a “money machine”, and talks about the hard work and research of scientists - mathematicians and physicists - in the tough and unforgiving world of the stock market. The book will be of interest to both novice algorithmic traders and scientists conducting research in this area, as well as their clients.

-Biography, interviews, stories-

4. “What I Learned Losing A Million Dollars”

The book tells the story of the experience of losing one million dollars in one day. The story of a trader who traded soybeans on the CME. The book consists of two parts: the first is how he earned his capital from trading, and the second part is the lessons learned from losing all his capital. Subsequently, devastation and despair were replaced by conclusions from their own mistakes.

6. “The most common misconceptions and follies of the crowd”

The first edition of this book was published in 1841. The British writer undertook to describe the insane behavior of the crowd, the first book of its kind. The most common manias of the past centuries were taken as a basis. One of the most popular is tulip mania in Holland in the 17th century, when a tulip bulb cost a fortune. McKay quite accurately describes the state of a person during general madness, when a stable, healthy psyche breaks down under pressure from the outside and a person begins to do completely thoughtless things that flow into an insane form, such as selling all his property and investing it in shares of railway companies or in flower bulbs . I advise you to read this book, as you will find in it much that is similar to the crisis of 1998 and 2008, although the author lived two centuries before.

7. “Way of the Turtles”

The book tells the story of the legendary “turtles”. “Turtles” appeared as a result of a dispute between two successful traders - William Eckhardt and Richard Dennis. One said that it was impossible to teach trading to a person on the street, the other, on the contrary, said that with effort and discipline one can achieve success in trading. Richard Dennis won the dispute, as almost all traders managed to make money. Thus, Dennis proved that trading can be taught to a person who has no experience in the market and does not have any theoretical basis.

-Miscellaneous -

1. “Flexible consciousness”

The content of the book is loosely related to trading, but it very well describes all the difficulties that we encounter during our work, because in order to correctly learn from mistakes, we need flexible thinking. If you have the right mindset, you can make the most of any situation. The book contains many examples from sports, business and life. I really like the author’s position: “not yet,” which in Russian sounds like “not yet.” This philosophy is applicable in trading and in any other type of activity. It takes time to develop, effort and patience to achieve a certain skill and achieve success, but most make a grave mistake and immediately begin to chase big victories, money and as a result suffer defeat.

3. “One Good Threat”go"

The first book that talks in detail about the concept of prop trading. Michael Bellafiore talks about the complexity of being a day trader and shares real stories from his life. The book is very useful and essential reading for many beginning traders.

-Books in English-

1. “The Playbook”

Mike Bellafiore's second book. What I like about this book is that there are no illusions about easy money, throughout the text the issue of hard work, love for your work and diligence is raised. How to succeed and how not to fail? How to become better than yesterday? You will find answers to these questions on the pages of this book.

3. “ How to Trade In Stocks”

Everyone knows about Lefebvre's works about the great speculator, but most do not know that Livermore himself wrote the book. In the book, he described his trading principle for making trading decisions. But with the caveats that he himself often violates these principles (Livermore lost his fortune three times). In no modern book can you see such a quantity of valuable information in such a small volume.

-ATTENTION-

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I am glad to see you again on my blog, dear lovers of profitable trading. Practice is undoubtedly the key to success in any business. On the other hand, without at least an initial theoretical basis, you will be doomed to a lot of annoying mistakes. To avoid them, I will recommend you books for novice traders, personally selected by me during futures trading.

Conventionally, I would divide all the literature on the topic of trading into three large groups:

1. Textbooks on and, encyclopedias and manuals
2. Fiction (interview, stories of famous traders, philosophy and psychology of trading)
3. Cases, instructions and practical guides.

I will recommend first-class literature because, in my opinion, it is indispensable in the work. I often provide cases and instructions in articles on trading, so read on for your health. And interviews and so on are more like extracurricular reading; you can indulge in them on vacation, lying in the sun.

There are, indeed, a huge number of useful books, and if you read everything indiscriminately, you can get bogged down in the pages for more than one month. So I selected several books in different areas that a beginner should read first.

For a general understanding of the market and principles of trading, first of all, it will be useful books by Eric Nyman, a professional trader and financial analyst with extensive experience, familiar first-hand with the realities of emerging markets (works in Ukraine and Russia). His presentation style is quite simple, despite the abundance of terms and complex concepts.

“Alchemy of Finance” currency speculation guru George Soros, this is generally a unique publication of its kind that will help a novice trader, if not immerse himself in the essence of what is happening in the financial markets, then certainly avoid generally accepted misconceptions about its functioning.

Currency market

There are countless books on Forex on one hand and one toe. Therefore, I bring to your attention V. Maksimov’s manual “Fundamentals of Success in Currency Speculation” - here is a little bit of everything - about the methods of technical analysis, and about the psychology of the masses, and trading platforms and much more. This book will allow you to quickly master the basic concepts and start trading without delving into the subtleties and nuances.

For more advanced traders, A. Erlich wrote “Technical Analysis of Commodity and Financial Markets.” The book provides comprehensive information about the tools of technical analysis of financial markets.

Derivatives

Futures, CDS, stock exchange and binary options are instruments that are not covered in many books, but they are all quite voluminous and detailed. “Options, futures and other derivative financial instruments” John Hull is a very massive manual that covers all types and aspects.

But if you are only interested in binary options, first, I recommend studying the practical recommendations that almost every broker produces, watch a training video and take part in webinars where you can ask any questions you may have online. If this doesn’t seem enough to you, here’s a book that’s dedicated exclusively to binary options (although it’s in English), I haven’t read it myself, but binary experts recommend:

Options Trading A Newbies" Guide: An Everyday Guide to Trading Options, which translates to "Options Trading. A Beginner's Guide to Every Day", by Alan Norscott. As the name suggests, this is an excellent guide for beginning binary options traders.

Perhaps due to the fact that the author of the book is a financial consultant and trainer, his book is the best example of presenting basic knowledge using clear examples, tables and diagrams. The basic aspects of technical analysis of options are well illustrated. It’s a pity that there is no information in this book about step-by-step algorithms, systems and strategies.

And finally, my favorite from this entire list is “ One good trade". It was written by SMB Capital founder Mike Bellafiore. He is very famous in the West, there was even a TV series with his participation about Wall Street!

All the books I listed can be downloaded on the Internet completely free of charge. Of course, my list is far from complete. So, friends, write in the comments reviews of the books you have read that helped you start trading. See you soon!

Everyone knows: to successfully trade on the stock exchange, a trader must continuously develop. An important step in self-improvement is reading useful literature written by investors who have already achieved success.

TOP 10 best books for traders and investors

Books for making money on the stock exchange allow you to use the experience of other people and avoid their mistakes in the trading process. Often, attempts to search the Internet for information and books yield multimillion-dollar calculations. It is impossible to read everything, and it is not easy to understand what will bring practical benefits. I also encountered this problem at one time. Fortunately, there were good mentors who suggested what was worth reading and what was not worth approaching.

So that you do not get confused in the rapid flow of information, I tried to put together information about useful literature, in my opinion. This is how the TOP 10 best books for traders was born, which I present to your attention today.

Bestselling book about trading psychology

Many experienced speculators, when asked to recommend a book on trading for beginners with which to start learning, recommend "Memoirs of a Stock Speculator", written by Edwin Lefebvre. At first this surprised me very much: not only was it published back in 1923, but it also looked very much like fiction.

Nevertheless, having become more familiar with this work, most readers note how succinctly and accurately the trader’s mistakes are described here, what lessons he learned, and how he eventually saw the light. I, like many financiers, noted for myself how relevant this work is to this day. He talks very vividly and with interest about the influence of crowd psychology on the market. I am sure that “Memories...” will never lose its relevance.

The best book on technical analysis

The best book on technical analysis, as I have seen, is also very helpful in trading. It is not enough for a good trader to know the basics of market behavior. It is also important to be able to conduct analysis and predict further movement.

Book "Technical analysis. Full course", written by Jack Schwager, is one of the best publications devoted to this topic. It not only provides the basics of technical analysis, but also provides a large list of the author’s experiments on the market. A huge number of examples, based on real data, allows you to more fully and accurately understand and study the techniques used in this type of analysis, understand various indicators and trading methods.

An important distinctive feature of Schwager's work is its practical orientation. The data used to illustrate the information is taken from a large number of sites. Therefore, the presented book allows you to verify the performance of certain trading methods.

A universal book on trading for beginners and experienced

In trading books, novice market players often look for strategies that are based on Fibonacci principles. I had heard a lot about the theories developed by this famous mathematician, but I could not put them all together. Robert Fisher's book came to the rescue "New Fibonacci Trading Methods".

It was the author of this book on trading who was able to most fully and accurately describe the principles of trading in the markets based on Fibonacci methods. The most important parameters when trading on the market are price and time. Therefore, the author uses precisely these parameters, analyzing them and identifying the best moments to enter and exit the market. Robert Fisher explains how to use special programs and indicators based on the principles developed by Fibonacci.

Example of the best book for traders

Trading literature is extremely important, especially at the initial stage of trading. When I started reading Mark Douglas "Disciplined Trader", I knew little about psychology and trading and was stunned. The author describes in incredibly realistic terms why most beginners fail.

Douglas not only identifies the psychological barriers that exist in the market. He clearly and succinctly explains how to get rid of outdated concepts and rebuild yourself to make a profit. The author of The Disciplined Trader teaches you how to apply tactics that will allow you to overcome barriers and become a successful market player.

Literature on trading for professionals and beginners

Information for traders is most often divided into those intended for beginners and suitable for professionals. But there are also those that will appeal to everyone’s taste and will be understandable to absolutely everyone. This is exactly what the work of Eric L. Nyman is "Small encyclopedia of a trader". This book will be useful to absolutely everyone - beginners and professionals, traders and investors.

Naiman’s work is a high-quality, yet accessible presentation of material on a wide range of issues:

• psychology of trading;
• Management of risks;
• technical analysis;
• fundamental analysis.

The best book on fundamental analysis and other trading issues from Nyman, in addition to the theoretical foundations, contains a huge number of examples from trading practice, as well as instructions on how to make the right decision in emerging situations.

Books for making money on the stock exchange - the best assistant to a trader

Books for traders are mostly written by foreign authors. But there is also a Russian specialist in the field of finance and wave analysis (many believe that he is the only one), whose works are recognized throughout the world - this is Dmitry Vvozny. One of his most popular books is “Elliott Code – wave analysis of the FOREX market”.

The presented manual is intended to help those who want to understand all the features of trading using the wave principle. Vvozny wrote the book precisely because it can be difficult to independently understand the use of Elliott waves. The author in his work did not just present a theory. He systematized the wave principle and created a catalog of models. The book is especially popular due to its focus on the increasingly popular Forex market.

The best book for Forex trading

Most traders agree that the best book for Forex trading is the work of Vasily Yakimkin “The Forex market is your path to success”. This manual is often called an encyclopedia of this complex, diverse market. The following topics are discussed in detail here:

• three types of analysis – fundamental, technical, intuitive;
• trading techniques;
• psychology of trading.

At the same time, the work focuses on short-term trading. An important feature of Yakimkin’s book is its focus on the Russian trader, taking into account the peculiarities of psychology and trading in our country.

John Murphy is the author of the best book on investing.

Literature on investing is an important component that helps financial professionals develop. It is important that the books correspond to real market situations. This is exactly what John Murphy's work is “Visual investor. How to identify trends".

This work introduces readers to the features of analysis methods using graphs. Murphy explained that visual analysis can even be done independently. It is much simpler than using all kinds of mathematical formulas, as well as analysis techniques. Thanks to its simple and understandable language, the book is suitable not only for specialists, but also for private investors.

A great book for investors from Graham

Investment books are useful for everyone. A striking example of such literature is the work of B. Graham "The Intelligent Investor". It should be on the desk of anyone who wants to gain income from the stock market.

The presented book describes the differences between investing and speculation. In addition, the work is devoted to describing the types of investors and the strategies they use.

An excellent book about the real story of enrichment

An investor's book doesn't have to be all about methodology. She can talk about investing using the biographies of rich people as examples. One such famous investor is Warren Buffett. A huge number of books have been written about him. Many believe that the most profound and analytical of them is the work of Robert Hagstrom "Warren Buffett. How to turn 5 dollars into 50 billion. Simple rules of a great investor". It will be of interest to absolutely everyone.

From personal experience, I felt how important it is to choose the best books for a trader and investor. It is important to read them in any free time. The main thing is to do this not fluently, but thoughtfully, making notes in the margins. I write down thoughts that seem especially important to me in a small notebook, which has become for me a desktop collection of wonderful ideas.

Recently, books by the famous manager Evgeny Filippov have been gaining popularity on the Russian Internet. The first book is dedicated to investors in financial markets, and the second - directly to traders.