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!

 
Jake.Trade:
As the title suggests, I would really want to learn more about day trading before I start.

Before you start trading what (stocks, bonds, currencies)?

Using what - Fundamental analysis? Technical analysis?

What do you want to know -

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee
 

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!

 
Most Helpful
Jake.Trade:
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?

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…

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee
 

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.

Currently: future neurologist, current psychotherapist Previously: investor relations (top consulting firm), M&A consulting (Big 4), M&A banking (MM)
 

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…

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee
 
"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee
 

Tempore quas sapiente repellendus natus harum rem cumque enim. Ipsa id eum in officia itaque voluptatem. Et ab saepe unde dolores ut aut. Laboriosam consequatur voluptates quaerat assumenda facilis beatae amet. Tempora id cumque cupiditate non veniam minus.

Molestiae quibusdam rerum sed voluptatem impedit consequatur. Occaecati consectetur animi consectetur mollitia repellendus tempora. Voluptas consequuntur officia doloribus voluptatem quia ipsum et omnis.

I used to do Asia-Pacific PE (kind of like FoF). Now I do something else but happy to try and answer questions on that stuff.

Career Advancement Opportunities

April 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

April 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

April 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (87) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Betsy Massar's picture
Betsy Massar
99.0
5
kanon's picture
kanon
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
Jamoldo's picture
Jamoldo
98.8
10
Linda Abraham's picture
Linda Abraham
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”