The digitization of the world around us has created new jobs, one of which is Trade or trading Is. As trade professionals are earning very well, people who want to join this field are increasing daily. If you also want to enter the world of crypto trading and be a successful trader, you must know its basics and techniques well. Therefore, in this article, we have collected a comprehensive list of the best books for traders so that by reading them, this path will be smoother for you.
Who is a trader and what is the path to becoming a trader?
Before we review and introduce the best books for traders, you should know exactly who traders call traders? Trade is the Persian equivalent of transaction, and a person who is professionally active in the financial markets, both domestically and internationally, is called a trader.
You may be asked that despite Iran’s sanctions in the global financial markets, is it possible to become a trader in this country? The answer should be yes, because digital currency markets are also accessible in Iran and various Iranian and foreign exchanges support Iranian traders. However, due to other sanctions, it can be said that Iran is not the best country for traders!
A very important point that makes a trader successful is careful studies and familiarity and mastery of important tools. Also, in addition to reading the article on the best books for traders, it is necessary to be familiar with the market in which you want to operate. As a result, people who want to become digital currency traders must first be familiar with the nature of digital currencies, factors affecting price growth and decline, analysis of price charts and various analyses.
What is the best book to become a trader?
In the following, we introduce a list of the best books for traders. This list includes up-to-date books and summaries of each, leaving you open to choose. We invite you to read 10 of the best books for traders. You can get the original version of these books from the website Amazon Buy or order Persian versions (if available) from reputable bookstores across the country.
1. Memoirs of a Stock Operator
One of the first books every trader should read is The Memoirs of a Stock Operator, a fictional but educational narrative. This work was published in 1923 by Edwin Lefèvre. The story is about a fictional character named Larry Livingston, who has a strange skill in trading markets and expresses his insights and thoughts. As a result, the readers of these memoirs can use the experiences of this fictional character to be more successful in their transactions. Many famous quotes from this book circulate among the trading community, one of the most famous of which is:
Always sell what gives you a loss and keep what gives you a profit.
- The name of the book in English: Reminiscences of a Stock Operator
- Author name: Edwin Lefebvre
- Year of publication: 1923
- Farsi translation: it has
2. Smart investor
Although this work was published for the first time in 1949, until today there are many updated versions of it, which is considered one of the best books for traders. The version we are considering is the revised version of this book and includes Collins’ business essentials. In The Intelligent Investor, Benjamin Graham discusses the most popular basic investment strategies and the fundamental principles of investment strategies.
The interesting thing about this book is that Warren Buffett It is hailed as the best book ever written on the subject of investing. In this book, Graham presents his main philosophy about investment and then explains how to identify the intrinsic value of an investment. Then he offers the reader solutions to buy this capital at a price lower than its face value.
- The name of the book in English: The Intelligent Investor
- Author name: Benjamin Graham
- Publication year: 1949
- Farsi translation: it has
3. Wizards of the market
Two very popular books by American author and trader Jack Schwager, Market Wizards and New Market Wizards, interview the most successful traders in the world of capital. By studying these two works, the secret of success and the strategies that these people have implemented in their investments are revealed to traders and they can also do magic in the market.
Reading these biographies and information of successful people who have taken purposeful actions in the field of your activity gives the readers the opportunity to get to know more about the environment and the risks they are in.
- Book name in English: Market Wizards
- Author name: Jack Schwager
- Publication year: 1989
- Farsi translation: it has
4. Disciplined trader
Another best book for traders is The Disciplined Trader, published in 1990 by Mark Douglas. This article deals with the psychology of trading, which results in a unique discipline for the mind of traders. The important thing that makes this work more popular is its smooth and simple text. Although the subject of trading psychology seems to be a complicated matter, Douglas has tried to address various psychological issues in the world of trading with a completely fluent expression.
In these writings, Douglass does a good job of describing the basic mindsets and attitudes that are necessary for traders. In the sequel of this book, he wrote another very popular work in this field called “Trading in the Region”, which traders are advised to read as well.
- The name of the book in English: The Disciplined Trader
- Author Name: Mark Douglas
- Publication year: 1990
- Farsi translation: it has
5. Principles of professional speculation
The title of the book, Principles and Professional Speculation, may be unfamiliar to some, but this book is one of the popular choices of many traders. With this definition, it may be considered one of the good choices and the best book for becoming a trader.
Victor Sperandeo, the author of this work, believes that identifying the main direction of the policies that give direction to the economy helps traders to reveal the general direction of the market as well as its specific parts that lead to profit and prosperity.
- Name of the book in English: Trader Vic II: Principles of Professional Speculation
- Author name: Victor Sperando
- Publication year: 1992
- Farsi translation: it has
6. Trading systems and methods
Trading systems and methods is one of the best books for traders because it has helped many traders to trade the right way. This book by Perry J. Collected by Perry J. Kaufman, it is considered one of the most recent works in the field of trade. In the book Trading Systems and Methods, the reader is introduced to trading methods from a purely mathematical point of view, then understands the principles and techniques of stock trading and risk management concepts designed for traders.
The trading methods and systems in this book are presented in a professional way in analytical and comparative frameworks, and from a scientific point of view, it has a great burden for traders. The remarkable thing about this work is that after finishing the study, you can refer to the website mentioned in the description of the book to have an always up-to-date resource at your disposal.
- Name of the book in English: Trading Systems and Methods
- Author Name: Perry J. Kaufman
- Publication year: 1998
- Farsi translation: it has
7. Trading to Win: The Psychology of Dominating the Markets
The seventh option among the best books for traders is Trading to Win. This book, which is considered alchemy for traders, is the result of a 5-year effort by a psychiatrist and a successful trader, which was published in 1998 by Ari Kiev. In this book, the trader’s experiences are examined and defined from the point of view of psychology, the result of which is overcoming mental obstacles in the market.
In this article, strategies for dealing with stress, self-limiting beliefs, and potentially destructive behavior patterns that can harm a trader are presented. So studying it can guarantee your success to a great extent. Also discussed are ways to boost your confidence while avoiding the risk of falling into the trap of feeling hopeless or euphoric.
- The name of the book in English: Trading to Win: The Psychology of Mastering the Markets
- Author’s name: Ari Q
- Publication year: 1998
- Farsi translation: it has
8. The way of turtles
The Turtle Method is one of the latest and best books for traders written by Curtis Faith and published in 2007. In the text, the results of a 25-year experiment in the trading world can be seen, and the result of this experiment has helped the people involved to discover unique strategies for success in the markets. Studying this work will definitely be a fascinating trip to the world of business. Traders who have put their time, intelligence, knowledge and effort into trading deserve the best possible reward that comes from reading this book. In addition, this work is a treasure trove of information on applying trading rules and devising successful long-term trading strategies based on the author’s personal experience.
- The name of the book in English: Way of the Turtle: The Secret Methods that Turned Ordinary People into Legendary Traders
- Author Name: Curtis Faith
- Publication year: 2007
- Farsi translation: it has
9. Algorithmic Trading: Winning Strategies and Their Logic
Ernie Chan, the author of Algorithmic Trading, one of the best books for traders, published his work in 2013. Its simple and attractive narrative has made this work a distinct option for traders.
Techniques to increase capital value, algorithmic investment methods, as well as the concepts and application of these algorithms in successful trading strategies, have been proposed in this work. Recommended reading for anyone interested in algorithmic trading.
- The name of the book in English: Algorithmic Trading: Winning Strategies and Their Rationale
- Author Name: Ernie Chan
- Publication year: 2013
- Farsi translation: it has
10. Inputs and outputs: visiting 16 chambers of commerce
As the name of this book suggests, the author describes what happened in 16 chambers of commerce in different fields. Alexander Elder examines each of these 16 chambers that specialize in a specific type of business and describes the common characteristics that have led to the success of each. Among these common features are regular and systematic approach, focus and attention to details. Also, paying attention to side factors such as psychology, markets, trading techniques and case studies has given more scientific value to the material.
Highly recommended reading for people looking for a realistic perspective on trading. Because it helps the reader understand the complexities and real challenges in each area of the transaction.
- The name of the book in English: Entries & Exits: Visits to 16 Trading Rooms
- Author Name: Alexander Elder
- Publication year: 2006
- Farsi translation: No
Besides these books, what other studies are important?
The question that may arise for many newbies in the trading world is whether it is enough to get familiar with the trading environment and read related books? Do these studies make us a successful and skilled trader? In response, it must be said that reading the best books is necessary for traders, but it is not enough. This means that in addition to mastering the market in which you are trading, you should consider other side studies such as learning trading tools, trial and error, and finally paying attention to the experience of others.
If you are also eager to learn the world of cryptocurrencies and transactions in this area, keep your information always up-to-date by following the Wallex blog. Share with us your experiences about reading the books introduced in this article.
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