Why Reading is Important

With so much information on the internet, it can be difficult to cut out the noise sometimes. 

Where do I start?

What does this mean?

Where do I turn to when I need answers?

These are all questions that will always come up in everyone’s trading journey, no matter what the case is.

You can be a complete beginner who just wants to learn how to get started – or an advanced trader trying to discover how to level up.

At one point in my life, I didn’t really understand where to find my own answers in trading. There were loads of youtube videos, articles on google, blog posts offered by traders but it just left me confused to the point that I wasn’t even sure if I wanted to continue.

So in times of disbelief, I turned to books. The one source of information that I believe is the best. 

So today, I want to tell you guys about the top 3 trading books that I read throughout my personal journey. 

Each of these books taught me something extraordinary and provided me with the knowledge that I couldn’t find anywhere else.

So let’s get started. 

“Trading for a Living” – By Alexander Elder 

My top favorite book would have to be this one, “Trading for a Living,” for so many reasons. 

It explores three main concepts: Mind, Method, and Money – showcasing how the three work together interchangeably. 

It brings a calm and disciplined approach to the markets while emphasizing risk management along with self-management, providing clear rules for both. 

You can click here to purchase the book

Market Wizards” – By Jack D. Schwager

This book will take you on a journey to explore the minds of some of the most prolific traders. All of the individuals who were interviewed had a driving desire to become successful, despite the obstacles that came in their way.

It showed me the importance of finding my own strategy and methodology that worked for me, and exactly why every trader should remain true to their approach. The author, Jack D. Schwager does an amazing job on showcasing attitudes and actions of numerous traders such as Bruce Kovner and Jim Rogers.

This book will provide different perspectives from amazingly influential individuals, so I definitely recommend that you read this!

You can click here to purchase the book

Trade Mindfully” By Gary Daton

This book is all about overcoming psychological barriers to increase trading success. A lot of traders lack the proper education on their minds, which is exactly what this book focuses on. It shows the readers how to apply cutting-edge psychological techniques to your trading skills, which can assist us in improving our mindsets.

Mindfulness is a skill, which requires not only learning but also regular practicing. In his book, Dr. Dayton offers several exercises to train this skill. 

You can click here to purchase the book

Next Steps

Well what’s the point of reading and learning so much knowledge if you’re not actually gonna apply it ? Start by practicing with a demo account or ”Paper Trading” account where you typically trade the real markets with fake money.  As you start diving in, you’ll notice yourself becoming more familiar with market terms along with learning and growing from your mistakes. Remember that no trader is perfect. The only way to ever really excel as a trader is when you learn from your mistakes and figure out what works well for you as a trader! 

Lastly, remember to be patient and take things one step at a time. FOMO(fear of missing out) is real and something many traders go through on a daily basis. Take on trades when you feel comfortable and trust your trading plan. Looking for clarification constantly from other traders will only mess your trading flow and you won’t really ever know how to progress.