Recommended books for investors and traders

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Recommended books for investors and traders

From this list, it is possible to begin to have an idea of ​​how much time you need to invest in learning, in truly understanding trading and the psychology of trading before and while trading successfully. A no less important part of the work is sifting through the books, clips and lectures that are less accurate or relevant. And this is what I hope I am doing here for you, after I personally had the chance to buy, read and watch through quite a bit of less successful material…

As Mark Douglas says in his book Trading in the Zone a consistently successful trader does not need to know everything there is to know about the market, on the contrary. The more I know, the more expectations I will have, and the greater the expectations, the greater the disappointment.
Hence, my choice whenever I experience consecutive days of losses, is to stop and take the time to read over and over again the books that explain about my MIND SET as a trader and not books that teach the market.
My strength as a trader comes mainly from my mental abilities and this I learned after many losses. I too made the mistake of thinking that my strategy was not good enough and and learned more and more strategies arriving to trading days with full confidence that these new strategies will do the job for me when (mytruth was to go back to basics and remind myself that as a trader my job is to sit and wait for opportunities and prevent myself from entering into trades that were not defined by me in advance no matter what or how much profit I could gain from them.
This is the only way for me as a day trader to avoid a zero sum game that I have no intention of playing.

So this is my list:

  • Reminiscences of a Stock Operator, Edwin Lefèvre a classic written in 1923 and still relevant, the life story of Jesse Livermore,among the greatest speculators of all time.
    The first book I read, which made me fall in love and understand a thing or two about this world.
  • The Snowball,the biography written by analyst Alice Schroeder about the life of Warren Buffett, the greatest investor of all time.
    Its long… admittedly (I read it in parts) but it helps me understand how investors think and if there is anyone to study and appreciate in this world, it is of course Warren Buffett.
  • Trading in the Zone (can be found as an audiobook for those who prefer to listen)
    &
    The Disciplined Trader: Developing Winning Attitudes
    Both are classics and were written by Mark Douglas.
    These are the first books, which addressed the psychological character of the manner in which successful traders think.
    Mark Douglas is fascinating to me, from his books to the lectures he provides - I had a dream to participate in his seminar and write about it, however unfortunately according to what I read on Google he passed away in 2015. Luckily we have his books and videos because for me he is no less than a genius who taught and continues to teach me every time I watch and read what he wrote and uploaded to YouTube, it is 90% of what I know today about the psychology of traders.
    He examines the reasons why most traders cannot consistently make profits and brings his reader and viewers to practical conclusions about how to change the entire mindset.
    While reading and listening to Mark Douglas' lectures, I went through a step-by-step, level after level process and in the end realized what will determine whether I will be a consistently successful trader or not is mainly my way of thinking and mental behavior.
    I highly recommend reading his books and listening to his lectures again and again.

The following books were recommended to me by several people who I greatly appreciate and I still haven't gotten around to them...
So I'll just put it here and update later what I thought about them.

  • The Father of The Candlestick Chart -
    Technical Analysis: The Complete Resource for Financial Market Technicians
  • The Wolf of Wall Street, Jordan Belfort
  • The New Market Wizards: Conversations with America's Top Trader
    (can be found as an audiobook for those who prefer to listen)
  •  Technical Analysis of the Financial Market
    by John J. Murphy     (can be found as an audiobook for those who prefer to listen)
  • The Intelligent Investor
    by Benjamin Graham     (can be found as an audiobook for those who prefer to listen)