Top 10 Books To Read To Become a Successful and Profitable Trader

Top Books which a trader must read to become more successful in the trading journey. 

Hello Readers, welcome to investing 360. In this blog, I will tell you about the best books which will help you in the journey to becoming a successful trader. Trading is a high-income skill income. To become a doctor we have to get medical skills and to become engineers we need engineering skills and many more etc. etc. just like all other professions trading is also a profession that needs a lot of knowledge and skills. Trading without knowledge is called gambling. If someone wants to be a good trader he will have to learn these skills. So today I am going to share a list of books that will help you to learn and gain a lot of knowledge about trading and investing in the money markets.

1. The Intelligent Investor By Benjamin Graham. 

So the first book that a trader or investor should read is The Intelligent Investor. This book is also called the bible of investing. All big investors have read this book like Warren Buffet etc. This book is the favorite book for many big value investors. When you first read this book it feels boring because of the financial terms used in the book but it is worth it when you are done reading. In this book, Benjamin Graham gave the definition of investing. According to benjamin graham, in investing three things are very important in investing first thorough analysis second safety of principal, and the third one is sufficient returns. 

2. Trading In the Zone By Mark Douglas

The second book is Trading in the Zone. This book is all about the psychology of trading. There are some points which I have taken from this book. Every trade has an uncertain outcome which is explained in the book. The market is all about probability. Nothing is sure in the market. Anything can happen in the market. It is impossible to know what will happen next. You don't have to predict the market you just have to go with the market. There is random distribution in the trades. Every moment in the market is unique. The market always produces uncertain outcomes. Don't fall into the gambler's fallacy. We shouldn't change the setup frequently. Always have a carefree state of mind while trading. 

3. The Big Short by Michael Lewis

The story of the 2008 stock market crash. In this book, you will know about how some big investors made billions by short-selling stocks. You will know how the mortgage housing industry collapsed in the United States that caused the bankruptcy of many financial institutions. Their stock prices started falling. 

4. Technical Analysis of The Financial Markets By John J. Murphy

This book is about technical analysis. Almost all important points of technical analysis are covered in this book. This book is a really helpful and excellent book on technical analysis. You should read this book even if you are a good technical analyst. This book will improve your technical analysis skills. How technical analysis is applied in different markets all around the world? This book covers candlesticks, volume, future option, trend, support and resistance, reversal and continuation patterns, time frames, price gaps, band Bollinger, long-term chart reading moving average, oscillator MACD, and histogram. The author of this book is called the father of inter-market analysis. 

5. High Probability Trading By Marcel Link. 

As we know 90℅ traders lose money. In this book, you will know what this 10% of traders do to make money out of the market. Avoiding loss is more important than making money. In this book, all mistakes of trading are explained very clearly. Trading is a learning process. Experience is the best teacher in trading. Trading is a business. Control emotions while trading. High probability means taking high profits by cutting losses. 

6. The Warren Buffet Way By Robert G. Hagstrom. 

This book is about the investing secrets of Warren Buffett, the owner of Berkshire Hathaway who built billions by investing. He says don't buy stock buy a business. He started investing at a very young age. Warren Buffett first analyzes and researches the business rather than the stocks. Invest in the business you understand. 

7. How To Make Money In Stocks By William J. O'Neil. 

William is an entrepreneur investor and writer. People avoid the stock market due to the fear of losing in the market. This book gives the knowledge of different ways to make money in stocks. Your investing skills will definitely increase by this book. The author shared the CANSLIM strategy in this book. 

8. How To Avoid Loss and Earn Consistently By Prasenjit Paul

In this book, the author said that the stock market is not for gambling. Millions of retail investors lose money in the stock market by short-term and intraday trading. Successful trading requires full-time dedication and wealth can be created in a long-term perspective. 

9. Price Action Trading By Sunil Gurjar. 

The author is the founder of the Chartmojo. This is a very useful book for beginners. This shows price action strategy, support, and resistance strategies. This book shows how to make money in a ranging market. Different candlestick patterns. 

10. Market wizards. 

The book is about profitable traders and their trading rules. The author took interviews of 5 very successful American traders and summarised their mistakes and strategies in this book. 

Thanks for reading the article. I hope these books will help you and you will become a successful trader.