Best 5 Books For Serious Traders

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In this blog, we talk about 5 books that every trader must-read. Now, these books are not nice to have seen, one of those that would read during your next vacation these are mandatory textbooks for you. If you are a serious trader and you have to read them with the same river with which you right back in your school days. Unfortunately, I read some of these books later in my trading career I wonder how much time and money would have saved had a read these books earlier.

Alright let’s dive into the list.



#1TRADING IN THE ZONE by Mark Douglas

Number one on the list is Trading in the zone by Mark Douglas this is by far one of the best books on trading and it’s ideal for beginners because it is written in the very easy to understand the language it covers a lot of ground for example:-

  1. It explains why consistency is more important than being right

  2. Why it’s important to take full responsibility of all the trades The Good the Bad and especially the Ugly, believe me, it’s hard

  3. why ever perception of the market and ourselves matter

  4. How to develop understanding and appreciation of risk management

  5. how to find your edge


Here are some great advice that I took from the book


Forget results focus on the process we are sometimes so Ultra focus on the absolute profits and losses that we don’t realize that have a process itself might be faulty or unsustainable.


Think in terms of probabilities a major breakthrough from this book is the mindset of probabilistic thinking to know that trading is not about certainties it’s about managing and embracing probabilities


Finding a trading style that fits your personality you have been an aggressive intraday trader and sometimes feel guilty about that but after reading this book you feel much more comfortable in your style and your demeanour and you know what that worked for you.

To get this book Click Here

#2 MARKET WIZARD by Jack Schwager


Number two on the list is market wizards by jack schwager. Jack interviews some of the World’s savviest and most high-profile traders and what comes out is a non stop stream of wisdom insights Here are some gems


I have two basic rules about winning in trading as well as in life: If you don’t bed, you can’t win. If you lose all your chips, you can’t bet. In other words finding that middle ground between greed and fear

You have to figure out how to make money being right only 20 to 30% of the time In other words win big lose small

The markets are not random because they are based on human behavior and human behavior, especially mass behavior, is not random It never has and probably never will be, so true.

To get this book Click Here

#3 THINKING FAST AND SLOW by Daniel Kahneman

Number three on the list is my favorite Thinking fast and slow technically speaking it’s not a trading book. it’s actually a book about inner workings of our brain the reason it is a must-read is because trading is essentially decision making under pressure and unless we understand how the mind arrives at decisions you will never be in full control the book is written by Nobel Laureate Daniel kahneman and just loaded with insights.

When you start reading this book, you will think about highlighting important points, after three or four pages it will become clear that if you do that it is good to highlight the whole book.

What are the important concepts that the author talks about is the concept of fast and slow brain which also called system 1 and system 2. The fast brain operates automatically and quickly with little or no effort, answer this



Right now you didn’t calculate two plus two you just knew. How about Bread and, now you didn’t think what would be the logical match for bread you just knew it would be butter.

We all have developed a sort of automatic responses to everyday situations and that is very helpful in making our life easier. Imagine if we are to add two plus two every time. Slow brain is the one that does the heavy lifting. It is engaged when you do something like file your taxes or solve complex math problem like this, engaging the slow brain is painful and our mind is programmed to put it at work as little as possible. It is basically conservation of energy, fast brain is your default mode of Thinking. Over 90% of what you do on a day-to-day basis is done by the fast brain however from trading standpoint you need to change this default setting. Fast brain may be good for taking care day to day stuff but for trading we need the horsepower of the slow brain, the book nicely explains how to get the slow brain activated.

Another way to look at this is from a trading strategy standpoint, you see a traders who test strategy for a couple of weeks and they are so confident that they are ready to put all their trading capital on it. For a strategy to be effective you need to test it for a long and a period of time. It has to stand the test of time and seasonality. If your strategy worked in 2018 it has to work in 2019 20 and 21 if not then what’s the point, anyway long story short, get hold of this book ASAP



Trading Strategy of your style Implement ->


To get this book Click Here

#4 TRADING FOR A LIVING by Dr. Alexander Elder

Number 4 on the list is Trading for a living by Dr. Alexander Elder. Dr. Elder’s book is broadly recognized as a practical guide for getting started with trading. He’s an actual doctor by the way, he worked as a psychiatrist in New York and then taught in Columbia University. He talks about three M’s – mind method and money and how they influence each other. Not just psychology in this book you will also learn about techniques like

  1. Elder-ray,

  2. Development of trading system,

  3. Understanding cloud mentality and

  4. Spotting high probability trades

a lot of good stuff.

To get this book Click Here

#5 REMINISCENCES OF A STOCK OPERATOR by Jesse Livermore

last but not the least Reminiscences of a stock operator by Jesse Livermore. This book was published almost 100 years back but still is the most popular book among professional traders Jesse Livermore was a high-stake trader who made and lost his fortunes several times in the stock market. His story is amazing and every word coming out of this book is pure gold.

Here are some of the Golden nuggets:-

As longest market and stock are acting right, don’t be in a hurry to book profits.” I will be honest with you guys I have been in the market for over 4 years and it is still hard for me.
Never average losses let that be written indelibly on your mind.” So true.
One should never sell a stock just because it seems overpriced.” You see traders who think that just because a stock has gone up 5% or 6% or 10% it cannot go up further, big mistake when market is selling you something, you have to listen to the market.
Do not anticipate and move without markets confirmation.” So what are basically means is that you can presume that a stock is going to run but essentially unless a market gives your signal that it is running, you should not be entering into the stock.
Limit interest into many stocks it is much easier to watch a few.” Instead of watching 200 or 300 stock it’s always better to have a short list of say 20 or 30 stocks so that you can watch them regularly. You know exactly what the support and resistance are for those stocks and basically you learn the personality of those stocks.
Profits take care of themselves but losses never do.” It’s a trader’s job to keep the losses small nobody else will do it for you.

To get this book Click Here

Alright guys these are the books get them as soon as possible and read them from cover to cover you will not regret it.


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