Best Swing Trading Books for Beginners 2024

Following is a list of the best swing trading books that beginners should read in 2024. There are two main skills that one needs to swing trade successfully, a trading strategy and a discipline mindset. At the most basic level, a trader needs to learn about technical analysis and chart patterns to develop a profitable trading strategy. Through the top trading books below, you will learn exactly how to do that.

1. Trading for a Living: Psychology, Trading Tactics, Money Management

Trading for a Living is written by Dr. Alexander Elder, and is one of the classic books on trading. It was the first book I read and turned out to be the one of the best. You will learn how trading works and how to use technical analysis to find trade setups. The author develops a triple screen system that shows you how to use 3 different time frames to execute a trade. This is increases the odds of a winning trade. You will also learn how to apply psychology and money management skills as they are equally important as a profitable trading method.

2. Trading in the Zone

Trading in the Zone is a book that emphasizes the importance of psychology in trading which I disregard when I first began trading. Needless to say, I learned my lessons the hard way after making countless mistakes and bad decisions from trading the stock market. I was able to make money here and there trading stocks, but never on a consistent basis. The day that I realized psychology is crucial in swing trading was the day that I finally started to make money consistently. I considered myself fortune to having read this book, because most people never made any money in the market and they don't understand why.

3. Technical Analysis of the Financial Markets

Technical Analysis of the Financial Markets is a comprehensive introduction to technical analysis and chart patterns. You will learn all the popular indicators and patterns that you will ever need for swing trading. The author shows you how the patterns work and how to apply them in real trading. This book is perfect for stock market beginners who are just getting started and learn how the stock market works. However, relying on this book alone is not enough to swing trade successfully. You will still need to learn the psychology of trading and develop a trading strategy that works for you.

4. Mastering the Trade

Mastering the Trade written by John Carter is another great book on trading. It covers a wide range of topics from trading rules, to finding entries and exits, analyzing market behavior, predicting market corrections, as well as what software to use for finding high probability trades. You will get the best out of this book if you are already familiar with how the market works and has a basic understanding of trading.

5. Trade Like a Stock Market Wizard

Trade Like a Stock Market Wizard, written by Mark Minervini who was an U.S. Investing Champion. He was one of the traders feature in Jack Schwager’s Stock Market Wizards. In this book, Mark reveals the exact trading system that he used to achieve a 33,500% compounded total return in 5 years. You will learn how to find the best stocks to trade before they take off, how to avoid making common mistakes that most traders make, how to manage your losses and protect profits, and how to avoid high risks stocks. He also shares his strategies into buying IPO stocks, and how to find super performers.

6. How To Swing Trade

How To Swing Trade, written by Brian Pezim is another book on swing trading that you do not want to miss. This is a beginner friendly book that covers all aspects of swing trading, from trading strategies, to charting techniques, as well as the tools that you can use to help you find profitable trades. You will also learn money management skills to reduce risks and maximize rewards. Brian also gives you some guidance on how to perform basic fundamental analysis on companies to get best results on your trades. In addition, you will find a number of swing trading strategies that you can apply today.

7. Come Into My Trading Room

Come Into My Trading Room the second book written by Dr. Alexander Elder. It expanded on the 3M, or Mind, Method, and Money that was taught in his first book Trading for a Living. In this book, the author goes beyond technical analysis and discusses the overall management of a trader's money, time, and strategy. Not only will you get a complete introduction to trading, you will also get a practical guide on technical analysis, risk controls and instructions on record keeping. Best of all, the author goes over his recent trades in details, so you can see exactly how he thinks, trades, and making decisions.

8. Market Wizards: Interviews with Top Traders

Market Wizards: Interviews with Top Traders, by Jack D. Schwager is an unusual book that gives you access to how the top traders think and trade. The book features interviews with the best traders in America such as Paul Tudor Jones, Michel Steinhardt, Ed Seykota, Marty Schwartz and more. You will learn the mindsets of how these traders are able to accumulate millions and achieve triple digits returns for years. To get the best out of this book, you need to have a fair understanding of the stock market and trading in general.

9. Think & Trade Like a Champion

Think & Trade Like a Champion, is another book written by Mark Minervini. In this book, you will learn step by step on how the author uses his secret techniques and personal rules to find super stocks. You can use his strategies to dramatically improve your trading performance and confidence.

10. How to Make Money in Stocks

How to Make Money in Stocks, by William O'Neil, founder of Investor's Business Daily. This is not really a swing trading book, but it is indeed of the best books ever written about the stock market and long term trading where you would buy and sell a stock within a year. This book combines fundamental analysis and technical analysis where you find stocks based on company fundamentals and optimize your entry points with technical patterns. The main focus of the book is easy to grasp and understand where you select stocks based on the CANSLIM method which stands for

C - Current Earnings
A - Annual Earnings
N - New Products or Management
S - Supply and Demand
L - Leaders
I - Institutional Ownership
M - Market Direction

By trading only the stocks based on the CANSLIM system, you are able to find the best performers in the stock market.

Conclusion

These are the books that will get you started in swing trading. Reading and understanding the concepts from these books will help you gain an edge over the average trader who has no idea how the market works. Most traders are looking for a way to get rich quick after they read a news headline that says someone has made millions or even billions on a trade. What the headline doesn't say is that most people go broke or has never made any money trading stocks. I'm not implying that it is impossible to make money in the stock market. I just want to make it clear that daily effort is needed in order to trade successfully. The stock market is certainly not the place to get rich overnight.

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