What are some books one must read in order to start intraday trading?

If you’re looking to start intraday trading, it’s essential to gain a thorough understanding of the principles, strategies, and psychology involved in this form of trading. Here are some books that can provide valuable insights:

1. **”Day Trading and Swing Trading the Currency Market: Technical and Fundamental Strategies to Profit from Market Moves” by Kathy Lien**: This book offers a comprehensive overview of both day trading and swing trading strategies in the forex market. It covers technical analysis, fundamental analysis, and practical trading techniques.

2. **”How to Day Trade for a Living: A Beginner’s Guide to Trading Tools and Tactics, Money Management, Discipline and Trading Psychology” by Andrew Aziz**: This book provides practical guidance on day trading, including technical analysis tools, risk management strategies, and the psychological aspects of trading.

3. **”Japanese Candlestick Charting Techniques” by Steve Nison**: Understanding candlestick patterns is crucial for intraday traders. This book by Steve Nison is considered the definitive guide to Japanese candlestick charting techniques, which can help traders identify trends and reversals in the market.

4. **”The New Trading for a Living: Psychology, Discipline, Trading Tools and Systems, Risk Control, and Trade Management” by Dr. Alexander Elder**: Dr. Elder discusses the psychological aspects of trading, emphasizing the importance of discipline, risk management, and developing a trading plan. This book provides practical advice for traders at all skill levels.

5. **”Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications” by John J. Murphy**: This book is a comprehensive guide to technical analysis, covering various chart patterns, indicators, and trading strategies that are relevant for intraday trading.

6. **”Market Wizards: Interviews with Top Traders” by Jack D. Schwager**: While not specifically focused on intraday trading, this book offers valuable insights from some of the world’s most successful traders. Reading about their experiences and strategies can provide inspiration and new ideas for your own trading approach.

Remember that successful trading requires continuous learning, practice, and the ability to adapt to changing market conditions. These books can serve as valuable resources to help you build a solid foundation and improve your skills as an intraday trader. However, always remember to validate strategies in real market conditions and consider seeking guidance from experienced traders or mentors.