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Trading is inherently risky. Financial markets are incredibly complex, and their behavior really depends on both fundamental economic factors and human psychology. However, that doesn’t mean you just can’t figure them out and trade successfully — you just need to learn how they actually work. That’s why we’ve arranged this list of basic books that can prove very useful if you want to learn how to trade. Let’s check them out.
Technical Analysis from A to Z — Steven Achelis
Technical analysis is essential for every trader, and this book is widely considered simply one of the best ways to learn it. Achelis is an experienced trader who has developed his own system of market analysis, and here he explains it in the simplest way. That makes this book incredibly useful even for complete beginners.
Beating the Street — Peter Lynch
However useful technical analysis skills may be, you can’t really trade without understanding fundamental analysis: reports, opinions, and so on. And this book has everything you need for a great start. Written by a legendary investor, it teaches you how to monitor markets, mitigate risks, and avoid devastating mistakes. It’s definitely one of the best trading books out there.
The Intelligent Investor — Benjamin Graham
One of the most well-known books about investing, this iconic work clearly articulates all the most basic principles of creating your own trading strategy on the stock market. Here you can find a wide variety of tools and advices that you can apply to just about any situation. They’re so universal that you probably can use them even for trading crypto or similar assets.
How I Trade for a Living — Gary Smith
This is another book dedicated to creating your trading strategy. Written by a self-made trader who has turned $2.000 into $650.000 in just 13 years, this work teaches you how to reproduce those results without taking too much risk. But what’s even better, it helps you develop a calm, thoughtful approach to trading that may prevent you from losing your money.
Trading in the Zone — Mark Douglas
Even if you’re an expert in analyzing markets and building strategies, you can lose everything with just one impulsive decision made out of fear or greed. That’s why you really need to learn a thing a two about psychology, and this is a perfect book for beginners. It explains how traders can keep a stable psychological state and what factors may interfere.