Do you want to be the best at day trading? Do you want to benefit from understanding market psychology?
If so, you'll build your skills—from the inside out.
Part of being the best is understanding trading psychology so you have a well-developed investment perspective.
Learn about the top trading psychology books to improve your knowledge and skills in the day trading game.
The Best Trading Psychology Books Ever
The best books on trading will teach you what you need to know about day trading, but not about trading psychology. The following are some of the best trading psychology books ever.
The Daily Trading Coach
The best books on trading psychology offer tips and skills you can implement into your day trading. Whether trading is merely something you do on the side, or is your primary source of income, The Daily Trading Coach helps both. With so many tips (101 of them, to be exact) you can learn a little bit a day at a time.
Trading in the Zone
Written by Mark Douglas, this trading psychology book focuses on the importance of thinking about probabilities. Day trading involves knowing when to cut your losses and estimating which trades will be wins or losses.
By training your brain to process trades in probability, you automate parts of your trading process. Not only does this mode of thinking about save you stress. It also helps you overcome second-guessing yourself.
As a new trader, it is common to second-guess trades, losing valuable time. These delays put a damper on your possibility of wins.
Reminiscences of a Stock Operator
Despite its age, the narrative format of this book by Edwin Lefevre makes it one of the best trading psychology books to this day. It provides strategies for successful trading and choices that hurt trading. It is also a good book to return to as you develop your knowledge and experience of trading psychology.
This series of trading psychology books, by Jack Schwager, teach a variety of skills in market psychology. They are certainly worth investing some time into, as they provide interviews with some of America's top traders. What better way to understand trade psychology than peeking into the minds of some of its greatest thinkers?
Sway: The Irresistible Pull of Irrational Behaviour
Sway is one of the best trading psychology books available because of the way it breaks down decision-making processes relevant to day trading. It provides an objective list for traders to compare their shortcomings in trading with decisions made that can limit development and growth.
Where to Learn More About Day Trading and Investment
Now that you have lots of trading psychology books to reference, you might be asking about other trading resources to help you up your game. Traders Creed has plenty more content like this article to help you become the best day trader you can. Check out our site today for information about investing, the stock market, and more.