Great books for day trading to recommend?
As the title suggests, I would really want to learn more about day trading before I start. I have a couple of friends who are doing it/used to do it, and they're successful at it, but I want to read up myself and possibly create a viable strategy for day trading instead of bombarding them with questions. Also if any of you guys are day traders, is the current market terrible to be doing it? (Not talking about shorting) Thanks guys!
Before you start trading what (stocks, bonds, currencies)?
Using what - Fundamental analysis? Technical analysis?
What do you want to know -
I would be trading stocks as I'm most familiar with it.
Most likely, I'll be very reliant on technical analysis, possibly using pivot and candlesticks as my strategy.
I've recently gotten the book called "Japanese candlestick charting techniques by Steve Nison". Is this a good book to start with?
Also, how does the current US trade war situation affect day trading if any at all?
I would also like to be introduced to books which could let me learn more candlestick patterns, and perhaps give me some tips on choosing stocks for day trading.
I'll greatly appreciate any advice! Thanks!
Yeah the Nison book is good - I have it too. Also check out Murphy and Pring.
Technical Analysis Explained, Fifth Edition: The Successful Investor's Guide to Spotting Investment Trends and Turning Points 5th Edition
https://www.amazon.com/Technical-Analysis-Explained-Fifth-Successful/dp…
Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications (New York Institute of Finance)
https://www.amazon.com/Technical-Analysis-Financial-Markets-Comprehensi…
Gregory Morris's Candlestick Charting Explained is also a good beginner book for candlesticking. I learned my technical analysis with that book. It's a wee bit dated (I also only have the 2006 version, so...) but very straightforward and easy to understand if you're new to the area.
Also, check out the old CMT curriculum. I think they have made books for the exams now, but the prior book list was pretty good. I'm not saying to go for the CMT, but definitely check out the material.
This site has all the books they used before integrating in CMT books:
https://www.tradingsetupsreview.com/book-list-chartered-market-technici…
Great stuff! Thanks so much for recommending these books. I'll read up on them once I've managed to get a hold of them.
Learn how to read and trade with the https://web.archive.org/web/20170829185705/https://www.cmegroup.com/edu…</a">Market Profile.
Thanks! I'll look it up.
Check out Market Wizards and New Market Wizards as well if you want.
https://www.amazon.com/Market-Wizards-Interviews-Top-Traders-ebook/dp/B…
https://www.amazon.com/New-Market-Wizards-Conversations-Americas/dp/088…
Thanks! Seems very enticing. I would definitely love to see the thoughts traders might have.
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