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Top 5 Intraday Trading Books

  • Jan 31, 2024

Many individuals want to learn and become profitable traders via options, foreign exchange, stocks, commodities, or all of the above. Unfortunately, this subject is neither taught in school nor college. But don't worry, there is good news for you.There are several excellent trading books written by experts that help you know every aspect of trading if you desire to gain enough knowledge of trading. However, these books offer in-depth knowledge of the complexities of trading from basic to expert. So, let's talk about 5 top intraday trading books in detail.

Best 5 Trading Books

1.    One Up On Wall Street By Peter Lynch

This book is considered a trading masterpiece, with over a million copies sold globally written by Peter Lynch, renowned as America's top money manager. Lynch instils confidence in average investors, asserting their unique advantage over professionals. Moreover, he unveils straightforward rules enabling ordinary investors to outperform the pros and shares foolproof tips for spotting 'ten baggers' – stocks with the potential to surge tenfold. Lynch imparts wisdom in deciphering financial statements, distinguishing essential numbers from the irrelevant.

Upon delving into the book, readers gain insights into categorizing companies as cyclical, turnaround, or fast-growing. The book's greatness lies in Lynch's timeless advice, advocating for staying invested for five to fifteen years to reap profits. For any aspiring investor aiming for success in the capital market, allocating time for this New York Times Bestseller is imperative.

2.    The Intelligent Investor

Benjamin Graham's "The Intelligent Investor" remains a timeless guide on value investing, a foundational approach that has shaped numerous investment strategies since its 1949 debut. This classic is endorsed by Warren Buffett, the acclaimed investor, who hails it as the best book on investing. Moreover, Buffett attributes much of his stock trading knowledge to the principles in Graham's work.

Within the pages, Graham unveils his fundamental investment philosophy: assessing the true value of an investment and seeking to purchase it at a price below that intrinsic value. This enduring wisdom continues to influence investors globally, emphasizing the significance of prudent investment decisions and the pursuit of long-term value. For anyone delving into the investing world, Graham's "The Intelligent Investor" remains an invaluable beacon, providing insights that transcend time.

3.    The Little Book That Still Beats the Market by Joel Greenblatt

This is another best book for intraday trading but despite its compact size, this book stands out as a classic among trading guides, catering to conservative and aggressive investors. Written by Joel Greenblatt, it offers foolproof trading strategies and a formula for identifying lucrative deals—a formula applicable globally, including in the Indian markets.

The best part of this book is it includes insights on the recent global financial crisis and backtesting data from 2009. What sets this book apart is the enduring nature of its formula, which has proven effective even when applied by millions in real-time scenarios.

Furthermore, tailored for investors seeking top-notch value stocks capable of outperforming the market in various economic climates, this concise 147-page powerhouse is a must-have. It's the ideal companion for investors aiming for success in the capital markets without the luxury of extensive research time.

4.    The Disciplined Trader by Mark Douglas

In Mark Douglas' 1990 work, "The Disciplined Trader: Developing Winning Attitudes," he delves into the psychology of trading, emphasizing the important mental discipline needed for success. Despite the plethora of books on this topic since its publication, Douglas' work remains a timeless "must-read" classic in trading psychology. What sets it apart is its accessibility—addressing a potentially complex subject in a clear and reader-friendly manner for every type of trader.

Douglas adeptly outlines the fundamental mindset and attitudes essential for traders, making it an invaluable resource. Notably, his skill in demystifying the psychological aspects of trading is commendable. Following this success, Douglas authored another acclaimed book on trading psychology, "Trading in the Zone," further solidifying his reputation as a trusted guide in the intricate world of trading mindset and discipline.

5.    A Random Walk Down Wall Street by Burton Malkiel

This enduring classic trading book was first published in 1973 and currently in its tenth edition, stands the test of time with its timeless concepts. The author, Burton Malkiel, introduces the 'Efficient Market Hypothesis,' proposing that stock prices consistently reflect their fair value.

According to this theory, beating the market through technical or fundamental analysis is a formidable challenge for the average investor unless armed with exclusive information or perfect market analysis. Notably, the book challenges the notion of mutual fund managers possessing a magic touch in consistently picking profitable stocks. Initially criticized by Businessweek as 'garbage,' it later became a global bestseller, exceeding one million copies sold. A crucial addition to any bookshelf, this work offers unique insights into portfolio building, covering indexing, diversification, bubbles, trends, and more.

The Bottom Line

These are some of the top 5 best books for intraday trading that will help you get a good insight into trading and investing so that you put your money and earn handsome returns. But there is are wealth of trading books at your bay which you can read and take enough and hopefully earn good returns.

Team Sharekhan
by Team Sharekhan

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