Trading is a good way to earn a living but it is not an easy way. Financial experts who are leading intraday trading today have years of experience and knowledge to help them.
But even they had to start somewhere. At one point in time, they too were beginners. Starting something can be frightening but with time and effort, you too can become those experts.
To help you get started, a list of all the best books for Intraday trading has been provided for you.
These will give you the basic information you need to begin trading. Someday, you might start earning enough to consider it as a full-time job.
10 Best Books For Intraday Trading In India
1. A Beginner’s Guide to Day Trading Online 2nd Edition
Toni Turner is a well-known financial expert who has published a couple of books on the subject of stock market investing to help out the beginners.
This particular book was published in 2007 and is still relevant to some extent for the current market.
Although there have been changes and developments in recent years, the basics of the subject have remained the same.
Through this book, you will surely gain fundamental knowledge about the stock market and how to make profits from it.
Reviews: President of Pristine.com and coauthor of ‘Tools and Tactics for the Master Day Trader’, Greg Capra recommended this book for people interested in the workings of the stock market and how to use that to your advantage.
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2. How to Day Trade for a Living
At no.2 in our list of best books for Intraday Trading , we have How to Day Trade for a Living.
Once a novice himself, Andrew Aziz went on to author several books on stock trading.
In this book, he has used his personal experiences as a beginner to guide and teach others who are just starting on this venture.
Moreover, in this book, he is trying to educate others to take this up as a profession. Not as a hobby but as a full-time career where you are devoting your time to studying and interacting with the market.
As a newbie, this is not an easy task but with the help of this book, you can earn a livelihood from day-trading.
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3. Start Day Trading Now
Start Day Trading Now is a compact how-to guide to begin day trading.
Michael Sincere is a senior financial journalist who takes you through the whole process of trading and gaining profits at the end of the day.
One of the many concerns that a beginner has is the list of items that he or she would need to get started.
In this book, the author assumes that you know nothing about trading and gradually takes you through the entire process.
This book is considered to be one of the best intraday trading books for beginners who want to learn everything from scratch
There is a potential risk when you are trading on the stock market which you learn to manage through this book. He also provides you with vital tricks that you can use for day-trading.
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4. The Truth About Day Trading Stocks
Day trading can be a very lucrative way to earn money. Here, it is possible to get a large amount of money seemingly quickly and with minimal effort.
But the reality of this enterprise is quite different. You will certainly see and get results but that does not happen overnight.
You have to dedicate your time and effort to make that happen. Risks are high in stock trading and the losses can be large.
The Truth About Day Trading Stocks discusses all the possibilities of incurring losses or making a bad decision.
Eventually, it all comes down to how you perceive a situation and make a decision.
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5. The Stock Trader: How I Make a Living Trading Stocks
Usually, authors write about their experiences after everything is over and they are looking back at them.
But in ‘The Stock Trader: How I Make a Living Trading Stocks’, Tony Oz is documenting the ordeal as he is experiencing them.
After the founders of the International Online Trading Expo, Tim Bourquin and Jim Sugarman questioned his trading strategies.
Tony Oz was determined to prove them wrong. He decided to keep a journal for one month where he documented every trade that he made during that time.
This book is a result of that decision. Coincidentally he was also able to witness and experience the NASDAQ Crash of 2000 which was a major event in the history of the stock market.
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6. High-Probability Trading
Day trading does have high rewards but that is only after you have mastered the workings of the market.
Otherwise, most beginners give up after the first few months. Either they are feeling frustrated after low returns or have lost all their money. Those who feel this way can refer to this book as it is one of the best book to learn intraday trading.
Once you can overcome the obstacles of these few months, you can have a chance to succeed
And make a living out of stock trading. Marcel Link teaches you how to deal with the common situations that you would need to face.
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7. Mastering the Trade, Third Edition
Already a bestselling book, ‘Mastering the Trade’ became even better with the latest edition of 2018.
New techniques and tricks have been added to make it more relevant to the present day.
John Carter discusses new and improved methods to navigate the market with minimal damage.
He provides crucial insight into the market and how to analyse the market before taking any actions, including risk-control tools for maximum returns.
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8. Day Trading and Swing Trading the Currency Market
Strategies form an important part of trading in the stock market. Using the right strategy you can hope to make huge profits.
Without knowing or understanding these techniques it will be difficult for you to survive in this environment where your competitors are highly trained bank experts and private financial professionals.
Kathy Lien discusses some of the most accepted fundamental strategies that can improve your trading skills.
The book mentions other aspects of trading such as technical elements like central bank intervention, interest rate differentials and so on.
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9. The Disciplined Trader: Developing Winning Attitudes
After all the books on the technical aspect of stock trading, you can turn to the psychological requirements of the job.
The job requires more than its fair share of mental strength. You need to be in the right state of mind to venture into stock trading and stick through it till the end.
The end here is success and the large profit returns that you can expect to gain. Much of your daily attitude becomes a hindrance when it comes to trading.
These need to be modified to suit the requirements of the stock market. You can learn it from ‘The Disciplined Trader.’
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10. Digital Day Trading
Digital Day Trading was published quite a while ago, so it cannot be expected to be up to date with all the latest changes in the industry.
What it will give you is a basic idea of what you can expect from the first few months of stock trading and what you should be doing to get the best results.
Howard Abell mentions the various market disciplines that you should be following when you are just starting to trade.
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Final Overview
With all this said, you must remember that no one becomes an experienced trader overnight. This experience comes from practice. You need to stay dedicated and not get discouraged if you encounter any losses.
These books and tools will support you in minimizing the losses but there are always unavoidable circumstances. You can only hope to avoid them in the future by making better decisions.
There is no strict way to achieve success in stock trading. There are verified techniques and strategies that have proven to bring considerable profit. Following these is recommended until you can afford to make risky and unconventional decisions.
I hope you liked our article on best books for Intraday Trading , if you have any comments or suggestions do share them in the comments below.
Frequently Asked Questions
1. Which book should I read for intraday trading?
If you are a beginner and looking for books to give you a basic understanding of the system then these books will be helpful – A Beginner’s Guide to Day Trading Online by Toni Turner, How to Day Trade for a Living by Andrew Aziz and Start Day Trading Now by Michael Sincere.
2. What is the best strategy for intraday trading?
There is no perfect answer to this question. It all depends on your skills and mindset. There are hundreds of strategies but it is only useful if you can effectively utilise them.
One of the main strategies while trading is to be consistent. The market is always changing, you need to keep up with it if you want to get high profits.
3. Who is the No 1 intraday trader in India?
Rakesh Jhunjhunwala is the top stock trader in India. He is a Certified Chartered Accountant. Apart from personal investments and trading, he is also a partner in the asset company Rare Enterprises.
He is often referred to as the Warren Buffet of India. Although he does not engage in day trading regularly, he can still be considered the top trader with the highest profits.
Rakesh Jhunjhunwala prefers to make long term investments like any other top investor and trader.
4. Is intraday profitable?
Yes, intraday is profitable. Otherwise, people would not be participating in it. Like the other forms of trading, you need to be consistent with your participation.
Day trading probably requires more of your time compared to other trading techniques but the returns are guaranteed if you are following the strategies. You will be bringing in profits in small amounts throughout the day instead of a single big profit.
5. Who is the youngest trader in India?
At 19 years old, Ayush Jain is the youngest trader in India. He started trading when he was 17 years and has now become a self-made trader with the experience of 2 years.
In an interview, he stressed the importance of knowledge and proper guidance for trading in the stock market.
Here are the best books for intraday trading :
