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Books every aspiring trader must read

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3 years ago

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In the last 6 years, I've spent hundreds of hours voraciously reading trading books to improve my edge in the markets. I found most of them a waste of my time, often reverberating the same points. Here is a distilled list of books I recommend every aspiring trader to read:
The Mental Edge in Trading by Jason Williams __ Jason, son of legendary trader Larry Williams, delves into the critical link between successful trading & personality traits & the importance of aligning the two for more consistency in trading results.
Think and Trade like a Champion by Mark Minervini __ Whilst I don't resonate with his Technical System, I really like how his methodical approach to: 1. Amplifying profits without increasing exposure 2. Building +EV strategies 3. Managing & Mitigating risk as the trade develops
Trade like a Casino by Richard Weissman __ When you step into a casino, you can only be the player. When you step into the markets, you can be the house. To ensure profitability, the house has table limits, a statistical edge, and plays infinite hands. Trade like a Casino.
One Good Trade by Mike Bellafiore __ Want to get a glimpse in the competitive world of proprietary trading? Read this. Learn how you can use some of the strategies developed within this firm to further your trading career. Build your portfolio One Good Trade at a time.
Reminiscence of the Stock Operator by Edwin Lefèvre __ This story is about Jesse Livermore who amassed a fortune of $100m trading stocks independently, only to lose it all several times in a row. He mentions how it was often more profitable to go against 'insider hints' 👀
I didn't resonate with any of the TA elements outlined in any of these books. However, I did advance quickly in my journey as I assimilated valuable lessons & approaches by leaning on scientific research, proven mathematical models, and the experience of these individuals.
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Jiraiya

@JiraiyaReal

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