Classic books for traders

Simon BrownImprove Trading, Latest, Learn Trading

Some of my favourite classic books for traders I have read, and reread, over the years. Links to Amazon to buy either hard copy or kindle when available (and we’ll earn a commission if you buy from the link).

I’ll look at investing books in a future article.

Reminiscences of a Stock Operator by Edwin Lefevre (BUY here)

This book is a fictionalised biography of Jesse Livermore, one of the most legendary traders in history and a classic amongst traders. Tons of really simple yet smart anecdotes that will certainly improve your trading.

Technical Analysis Explained by Martin Pring (BUY here)

Now in its fifth edition, this book is a classic text on technical analysis and was my first book on the subject. He goes deep on the subject and include slots of real world applications, examples and case studies.

Trading in the Zone by Mark Douglas (BUY here)

A must-read for traders who want to improve their mindset and psychology. This is my absolute go to book for getting the most important part of trading right – the psychology. I read it pretty much every year over my yearend holiday.

Market Wizards by Jack Schwager (BUY here)

A collection of interviews with some of the most successful traders in history. Really great insights and what always strikes me is how different every trader is in terms of their process with one common theme between al of them – excellent risk controls.

Trading for a Living by Alexander Elder (BUY here)

A comprehensive guide for traders who want to trade for a living. There is a lot to criticise about this book n how it glamourises trading, But there re enough nuggets to make it worth while.

Trend Following by Michael Covel (BUY here)

This book really explains both the pain and gain experienced from trend following as a trading strategy. Why it works and why it is so painful. If you’re looking for a trading process, or are already using trend following, then this is a great read. The author does sell black box systems, but ignore those.

The Complete Turtle Trader How 23 Novice Investors Became Overnight Millionaires by Michael Covel (BUY here)

This experiment asked, and answered, the question as to whether trading is a skill that can be taught? Twenty-three people respond to an advert and are taught trend following trading and then giving a pile of cash to tarde the system. Not all succeeded, due to lack of discipline, but a great and encouraging read.

Simon Brown