Dear readers! Today I present a careful selection of books which are the most important and significant for every trader’s career. My review of useful trading literature I will start with books for beginners and finish with ones for more experienced audience.

So, let’s start.


Books which every trader must read


1) «Trading for a living» by A. Elder

This book will suit both beginners and professionals. In his book Alexander Elder considers general orientations of trading development and also describes the basic mechanisms and tools for effective market activity.

The advantages of the book are obvious:

  • It is based on author’s personal experience, during his trading activity he had made a lot of mistakes before he became successful.
  • It is considered to be the most demanded book in trading history.


2) «Reminiscences of a Stock Operator» by Edwin Lefèvre

This work is the biography of a famous trader of the 1920s, Jesse Livermore. The books tells the story how Jesse worked his way from an ordinary novice trader to a professional. Along with “Trading for living” by A. Elder it became a kind of a Bible of trading.

The advantages are similar to those of the previous book:

  • The mistakes made by Jessy during his long trading career are explained.
  • It the trading Bible.


3) «Enhancing Trader Performance: Proven Strategies From the Cutting Edge of Trading Psychology» by Brett N. Steenbarger

Trading, trading and nothing except trading! In this detailed documentation you will find the answers to all the questions concerning trading. This book enables you to work out your own exclusive trading style and to improve your trading strategy. Brett N. Steenbarger encourages you to seek the regularities in the trading market.


  • A lot of pages are devoted to trading psychology and self-control issues.
  • The book was tested by several generations of traders and received a lot of credit.


4) «Trading in the Zone» - М.Douglas

The book describes all the difficulties a trader working with financial markets may come across. “Trading in the Zone” says that a purchase and a sale in a financial market are complex operations which often give unexpected results. In this book there are no definite advice pieces or trading methodologies, we rather get some advice how to think and reason to become a professional trader.


  • The book does not impose to professional traders the author’s opinion of trading.
  • It is a good adviser how to act in situations “when everything is bad”.


5) «Trend Following: How Great Traders Make Millions in Up or Down Markets» by М. Covel

The work of M.Covel is a splendid manual for the identification of trend movement. Besides, the are professional recommendations for the market entry and exit. All the necessary tools are described in details in the book and supplied with recommendations for their use.


  • There is professional advice and recommendations from the legendary trader.
  • It suites wide audience.

The list I made can be continued endlessly, as new books are being written and published constantly. However, in this article I enumerated the main books which compose the core of professional trading literature. Forex books can be downloaded for free, for all of them are available on the Internet. For example you can download them following this link. What trading books have you read? Write your ideas in the comments.

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Books which every trader must read

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.

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