By reading day trading books, rather than just trying to wing it on your own, you can save yourself a lot of money. While they do not take the place of actual experience, they can provide some foundational knowledge that is critical to your success as a day trader. The books will range from basic studies to overly technical analysis.
So here's my advice. Figure out what you need to know right now - something that will help you through your current bottle-neck - and then study those books.
For example, many day trading books will have a chapter on strategy. If that's your current area of weakness, then you may want to study the sections of those books that deal just with strategy. Let that be your focus. See what others have to say. Even if you don't follow their advice directly, the input might help you forge your own strategy. (Of course, always test new strategies using paper trading before using real money.)
Trading stocks is a journey. You don't read one book and then become a master. So don't make the mistake of thinking you can earn a doctor's salary without paying some educational dues. If you expect to earn a substantial amount of money trading stocks, then don't let your whole education be the result of learning from your past mistakes. A good book will save you much more money than it cost. And it might even help you earn better returns.
I have written several day trading books so far.
The Basic Principle for Trading Stocks: The Power and the Profit of the S-Curve. This was my second book, but it's the first one I would recommend to you if you're new to trading stocks and to technical analysis.
The purpose of this book is to give a visual cue for trading stocks. It's a short book with 14 color charts. The principles contained in this book are applicable, whether you are a day trader, a swing trader, or even a more fundamentals-based investor. In it, I cover:
* The potential profit of trading the S-Curve.
* The indispensable technical indicators for monitoring this curve.
* Three entry points (2 short and 1 long) when trading the S-Curve.
* 14 full-color charts that show how these indicators work in congruence to give you clear buy and sell signals.
This is the condensed version of my nine lesson video course on Trading the Afternoon Market. The book contains the key printed material plus 40 full color charts detailing the strategies. If you'd like to view all of the content details for that course, then
To visit my bookstore storefront, then click here.
On this page, I plan to introduce other day trading books to you. If you have a recommendation, then please send me a note with your suggestions.