I was asked this week about the best trading books from a trader who expects to have some downtime this winter due to his seasonal business. Here’s the list I sent him.
Market Wizards, New Market Wizards, Stock Market Wizards, all by Jack Schwager. These are interview-style books loaded with insights from traders of all styles and in all markets. Must-have books.
Reminiscences of a Stock Operator by Edwin Lefevre. This classic is a memoir-type book modeled after Jesse Livermore, one of the most famous traders ever. Underline the lessons that stand out to you, but it’s full of wisdom even though it’s approaching 90 years old.
The Zurich Axioms by Max Gunther. A list of rules from Swiss bankers which is apply for any trader. A little harder book to find, but a great one worth reading multiple times.
How I Made $2 Million in the Stock Market by Nicolas Darvas. A true-life account (published in 1960) of a guy who made every mistake imaginable before finding his winning system. It’s got a lot of great lessons and it’s one I’ve read numerous times for that reason.
All these are great aids for traders, they are not how-to books but rather the kinds of books with lessons that last. I’d recommend them all!
UPDATE: Somehow I left off the newest book worth reading, which is One Good Trade by Mike Bellafiore. I reviewed it [1] earlier this year and have re-read it since, it’s that good. Somehow in writing this post, I was fixated on older books but this should have been a post on 7 Must-Have Trading Books!
Trade Like a Bandit!
Jeff White
Producer of The Bandit Broadcast [2]
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