Best Trading Books

Jack D. Schwager (1989)

Interviews with the greatest traders of a generation. Every answer contains a lesson. The original and still the best trading interview book. Read this first.

Edwin Lefevre (1923)

A thinly veiled biography of Jesse Livermore. Over a century old and still quoted daily. The psychology of speculation has not changed one bit.

Mark Douglas (2000)

The definitive book on trading psychology. Douglas explains why most traders sabotage themselves and how to develop a probabilistic mindset. Essential reading.

John J. Murphy (1999)

The textbook on technical analysis. Covers everything from chart patterns to indicators. Dense but comprehensive. Use it as a reference rather than reading cover to cover.

Benjamin Graham (1949)

Not a trading book per se, but understanding value investing makes you a better trader. The chapters on Mr. Market and margin of safety are timeless.

Michael Lewis (2014)

How high-frequency trading changed markets. Fascinating narrative that explains market microstructure in plain English. You will never look at your order execution the same way.

Daniel Kahneman (2011)

Not a trading book, but arguably the most important book a trader can read. Cognitive biases, loss aversion, anchoring. Every page explains why traders make bad decisions.

Alexander Elder (2014)

Covers the three pillars: mind, method and money management. Practical and well-structured. A good starting point for anyone building a trading system.

Nassim Nicholas Taleb (2001)

Taleb argues that we massively underestimate the role of luck. Provocative and entertaining. Will make you question every backtest and track record.

Martin Schwartz (1998)

Autobiography of a champion trader. Raw, honest, and full of practical insight. Schwartz does not sugarcoat the stress, losses and sacrifices involved.