Modern day stock trading is heavily reliant on technology. A stock trader’s life is filled with computers and network communication machines. However, amidst the hustle and bustle of modern day equipment, lie 5 books on stock trading that promises to expand the knowledge and sharpen the expertise of any stock trader out there.
These are the words that Craig Fisher had to say about these 5 highly informative books.
“As my trading experience grows I am tending to read less stock market trading related books, but still enjoy doing so. In my formative years, I read as much as I could but still would not profess to having ‘read them all’ by any stretch of the imagination – far from it. As a beginner I tended to focus on the Australian share market and consequently Australian books.
It was probably also a function of price as they were significantly more affordable than those from the US. If I had my time over, I would research books a lot more and not let price be so much of a buying criteria, as my shelves are full of disappointing books that really don’t teach you much of what really matters”
Whether you’re a newcomer who has just entered the scene of stock trading or a veteran who has been enjoying success for decades, these 5 books are undoubtedly must reads. (The books have been listed in no particular order).
1) Trade Your Way to Financial Freedom by Van Tharp
This book addresses the subjects of expectancy, R- multiples and the significance of risk/reward ratio. Other areas that have been talked about include, money management, position sizing strategies, stock trading system design, degrees of freedom and trading biases. It’s the kind of book that helps you to think of trading in terms of probabilities and statistics.
2) Adaptive Analysis for Australian Stocks by Nick Radge
This has been considered as the best book on technical analysis by an Australian writer. The writer sheds light on certain dodgy areas of stock trading such as risk management and low risk setup. The book also provides detailed information on Expectancy Curve and on how to skew numbers in your favour. In simple words, the Adaptive Analysis can be your stock trading bible.
3) Market Wizards by Jack D Schwager
This is yet another gripping read for stock traders. This books contains a series of interviews with a number of high echelon stock traders in the world. Therefore it goes without saying that the book is studded with pearls of wisdom and stuffed with treasure troves of stock trading guidelines. It presents you with an accurate picture of what modern day stock trading really is and teaches you old aged lessons on discipline, persistence and determination.
4) The Power of Now by Eckhart Tolle
Unlike other books on stock trading, The Power of Now does not take you to the depths of technical analysis on stock market systems, short term trading, long term trading etc. Instead, it speaks out to you about your potential as a stock trader and how you can avert disasters in the world of stock trading. It is a practical guide that will help you to mould the correct mindset for stock trading.
5) Master of the Markets by Ton Williams
This book is an all in one guide to volume analysis. It’s filled with tons of information, some of which can be a little too overwhelming to absorb. Hence, you need to read this book a couple of times to get your head over all the topics on VSA, supply and demand, recognizing market tops and bottom etc.
Well, what are you waiting for? Head over to your nearest book store and start searching the shelves for these priceless books on stock trading. The more you learn on the subject, the better will be your chances of excelling in the field. Looking for more training from your Stock broker in Singapore, you can contact Joey for more info.