5 Books Every Trader Should Read

Updated: Jun 6, 2020


I am often asked what my favorite trading books are. Now, although perhaps not be the most technical trading books that teach you how to trade, these 5 books have taught me important lessons on the trading industry and profession.

1. Reminiscences of a Stock Operator (Edwin Lefevre)

“There is nothing like losing all you have in the world for teaching you what not to do. And when you know what not to do in order not to lose money, you begin to learn what to do in order to win. Did you get that? You begin to learn!

2. Market Wizards, Updated: Interviews With Top Traders (Jack D. Schwager)

I discovered that you can’t train people how to trade by just imparting knowledge. The key to trading success is emotional discipline. Making money has nothing to do with intelligence. Think of all the bright people that choose careers on Wall Street. If intelligence were the key, there would be a lot more people making money trading.

3. Dark Pools: The Rise of the Machine Traders and the Rigging of the U.S. Stock Market (Scott Patterson)

“Just as quickly, as stocks bobbed and weaved, those orders were canceled and resubmitted at different price points—at different exchanges and dozens of other trading venues, such as dark pools (incredibly, a staggering 90 percent or more of all orders placed into the stock market were canceled).

4. Flash Boys: A Wall Street Revolt (Michael Lewis)

“When something becomes obvious to you,” he said, “you immediately think surely someone else is doing this.

5. The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution (Gregory Zuckerman)

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