Best day trading books to read

A professional day trader will keep learning and read day trading books. Therefore, we should learn from them.

I think you probably have read a lot of best seller day trading books on amazon. For instance:

1. Day trading for dummies by Ann C. Logue
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 
3. A Beginner's Guide to Day Trading Online by Toni Turner
4. Mastering the Trade, Second Edition: Proven Techniques for Profiting from Intraday and Swing Trading Setups by John F. Carter
5. The Simple Strategy - A Powerful Day Trading Strategy For Trading Futures, Stocks, ETFs and Forex by Markus Heitkoetter

So today I will recommend you more best day trading books to read? 

First, Pit Bull: Lessons from Wall Street's Champion Day Trader by Martin Schwartz

I absolutely love this book. It is based on the real experiences of author, Martin Schwartz.

If you would like to find a best day trading system, it might not for you. But if you want to learn how to think like a professional trader, it is probably the best choice for you

Second, Winner Take All: A Top Commodity Trader Tells It Like It Is by William R. Gallacher

Maybe you've never heard of this book. But I think it is an excellent book that every serious day trader should read. You can get wisdom from it. For example:

• The difference between traders and gamblers.
• How to develop a futures trading system?
• How to execute a trade?
• How to control your trading risk?

Third, The Daily Trading Coach: 101 Lessons for Becoming Your Own Trading Psychologist by Brett N. Steenbarger

I think this book is now a must-have for a successful day trader. We often focus on day trading systems or day trading money management rules. However, this completely ignores the day trading psychology.

Yes, we can't follow the day trading discipline! Brett N. Steenbarger has offered the most perfect method and can help you become your own trading psychologist.

I think every day trader should read his TraderFeed blogger.

More reading: John F. Carter's trading site, simplertrading.com 

Forex trading goals for a successful trader

Many beginners' forex trading goals is out of line with reality. They want to make a quick buck and try to challenge the realistic profit targets of the professional Forex trader.

They have ignored the forex risk management!

So what are realistic goals for a professional forex trader? Generally, he can average 1% a month or 15% a year. 

Eh? What did you say?

Let me say it again. A successful forex trader set a yearly goal of about 15%.

Remember that a professional forex trader's primary goal is avoiding losing money in forex.

How to achieve your forex trading goals?

First, you should write it into the forex trading business plan. Many beginners only care for nothing but money. They just hoped the money is the more the better, so they never knew how much his currency trading plan was making or losing.

Second, you should open a demo account and test your forex trading strategy. If you don't do this, you will lose a lot of money in currency market. Well, you are getting father away from the goals.

Third, only you have established your foreign currency trading systems, you can switch to a micro forex account.

Now I think you are used to trade forex well with a small trading account.

Fourth, don't forget to keep a forex trading journal excel spreadsheet. It can help you track, measure and improve your trading performance.

Fifth, If you want to forex trading for a living, you should open a standard account. 

At last, you have got to have a more serious attitude in foreign market. Just as Jesse Livermore said, trading is a business and run it on business principles.

More reading: Think You Could Be A Professional Gambler? Here's What It's Actually Like

Best day trading books of all time

In this day trading article, I will describe the best day trading books of all time.

There are many best selling day trading books on Amazon.com. For instance:

• A Beginner's Guide To Day Trading Online by Toni Turner
• Day Trading for Dummies, 3rd Edition by Ann C. Logue
• Day Trading Forex with S&R Zones - Forex Trading System by Laurentiu Damir
• Start Day Trading Now: A Quick and Easy Introduction to Making Money While Managing Your Risk by Michael Sincere

But what are the best day trading books of all time?

First, How to Trade In Stocks by Jesse Livermore.

It is very classical and famous stock market book. Jesse Livermore revealed the secrets of stock trading.

• You cannot expect to make a lot of money playing the stock market.
• Trading is a business and run it on principles.
• Even if you are a day trader, you should still trade with the main trend on the daily chart.
• You should write a pre trading checklist every day.
• You should take care of he uses the momentum trading strategy.
• Most important of all, we should control and manage our risk in day trading.

Second, Come Into My Trading Room: A Complete Guide to Trading by Alexander Elder

An essential book for anyone interested in day trading or forex trading. 

Professional traders rarely revealed their trading systems and methods. But Alexander Elder's trading guide did it.

You could learn more from it.

• How to follow the trading system rules?
• How to reduce the risk of day trading?
• How to write a trading plan and keep a trading diary?

On the whole it's a great trading book.

Third, Long-Term Secrets to Short-Term Trading by Larry Williams

The book would be a timeless classic. Many novice traders just want to make some quick money.

• They never took day trading seriously as a business
• They never learned to day trade with a demo account
• They never wrote a day trading plan and kept a day trading journal

We all know that there is no secret in day trading. But Larry Williams has exposed it. I love this book.

Finally, I want to make it clear, if you are to be wealthy in the day trading market, you should keep learning and improve your day trading.

Reading the best day trading books is one of the best ways to learn.

More trading videos: Trading for a Living - Dr Alex Elder

what are the best day trading books of all time?

How do I start a day trading business

Today I will show you how do I start a day trading business.


Now some novice traders were inspired to start a day trading business after reading how a day trader made over $1 million in two days.

Is it true what the day trading article says? 

In my eyes, day trading is a boring job! Professional day traders lifestyle is boring!

What makes me think so?

• Every professional day trader should update the day trading checklist before every trade.
• Every professional day trader should write down his day trading plan before entering a trade
• Every professional day trader should write a day trading journal every day
• Every professional day trader should keep reading the best day trading books
• Every successful day trader should continue to trade in demo to develop a best day trading system and method.

Dammed! I find it's really hard to get started.

Now let's have a look at how do I start a day trading business.


First, I must love my day trading business. If I don't enjoy it, it's hard to keep it up.

Second, I am going to treat trading like a business and carry the it in a better way with serious attitude. Only in this way can make consistent money from day trading.

A lot of novice traders don't care about these, they just want to make some quick money in the day trading markets. The results are very predictable

Third, I must build a day trading business plan, a day trading checklist and keep a day trading journal excel. I believe they are the essential tools for every serious day trader.

Fourth, I must learn and master the basics of day trading. For example, I should keep reading best day trading books.

• 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

Fifth, I should learn day trading knowledge of the forex trading sites. Such as, BabyPips, forex factory or Dailyfx.

Fifth, I believe that there is no secret in day trading. 

Sixth, I wouldn't start forex live day trading at first. I should avoid day trading mistakes and losses. Therefore, I will learn how to day trade with a demo trading account.

So in these regards day trading business is just a new job. It is not suitable for all traders. You wouldn't expect to make big money in day trading market.

More reading: My Secrets Of Day Trading In Stocks by Richard D. Wyckoff. I should recommend it as a best day trading book for beginners.

How do I start a day trading business

How to start a forex day trading business from home

A great number of people have got tired from office work, they want to start a forex day trading business from home.

They believe that they can make a quick buck on the foreign exchange market. But the result is they lost most of the life savings in forex.

Why do 90% of forex day traders consistently lose money?

1. The novice forex traders didn't treat forex day trading like a business.
2. The novice forex traders didn't keep day trading discipline rules.
3. The losers in forex trading didn't write a forex day trading plan, a pre trading checklist and keep a forex trading journal spreadsheet.
4. 95% of forex losers are looking for a simple forex trading system secret.
5. 95% of forex losers never read best forex day trading books.
6. The novice trader never learns how to trade currency pairs on the forex trading sites.
7. The forex newbie has never tested his forex trading systems with a demo account.
8. The forex newbie has never developed a solid, profitable forex trading strategies

So are you aware that how to start a forex day trading business from home?

First, if you want to become a professional day trader, you should treat trading as a business. 

Second, if you want to make money in the forex trading market, you have to carry the forex trading business in a better way with serious attitude. For instance, build a forex trading business plan, a forex trading checklist and keep a forex trading journal excel spreadsheet

Third, it's a sad truth that there are no secrets in forex

Fourth, every forex trader should keep reading forex trading books. For example, Day Trading and Swing Trading the Currency Market: Technical and Fundamental Strategies to Profit from Market Moves by Kathy Lien

Fifth, every forex trader should learn day trading knowledge of the forex trading sites

Sixth, if you want to make money fast, you must practice the day trading systems on the MetaTrader 4 platform

Seventh, I use the forex grid trading systems very often. I think you should also have your unique day trading style.

At last, Everyone should know that success comes from hard work and execution.

More reading: Top 4 Day Trading Styles – Learn What Works Best for You

how to start a forex day trading business from home

Day trading checklist to start your trading business

Every day trader will write a day trading checklist. They think it can help them follow the day trading discipline.

Here is my day trading checklist. I must write it before every trade.

• Date
• Which market will I trade? Stocks, options, futures or forex? It is better to trade in only one market. I am going to day trade the forex market.
• What is my day trading strategy? 
• Forex grid trading system or RSI day trading strategy.
• Check the Economic calendar on the forex trading sites.
• Closing price on the daily chart
• Daily high and low
• Support levels on the daily chart
• Resistance levels on the daily chart
• Are ADX 14 readings above 25?
• Has it crossed 20 exponential moving averages, 50 EMA, 100 EMA and 200 EMA?
• Are ADX 14 readings below 20?
• Are Relative Strength Index 14 readings below 30?
• Are Relative Strength Index 14 readings above 70?

How do you arrange your pre trading checklist?

Some day traders probably write it down on the day trading diary. Others may write it on the day trading blogs.

I will build a day trading checklist excel spreadsheet. It will be saved along with the day trading journal excel.

Finally, you shouldn't only look for the strong day trading signals on the daily chart, you have to also check the 4 hour chart.

Here is a day trading checklist example:

a day trading checklist

A lot of day traders were caught out by a strong trend on the daily chart. Therefore, it is not enough to write a day trading plan and a day trading journal, one must make a pre trading checklist.

Daily trading checklist before every trade

Many professional day traders build a daily trading checklist before every trade. It differs from day trading plans or day trading business plans. 

The aim of a daily trading checklist is to find day trading opportunities and avoid day trading mistakes.

Some day traders probably write it down on the day trading diary. Others may write it on the day trading blogs.

I will build a day trading checklist excel spreadsheet. It will be saved along with the day trading journal excel.

A daily trading checklist should include:

• Date
• Which market will I trade? Stocks, options, futures or forex? It is better to trade in only one market. I am going to day trade the forex market.
• Closing price on the daily chart
• Daily high and low
• Support levels on the daily chart
• Resistance levels on the daily chart
• Are ADX 14 readings above 25?
• Has it crossed 20 exponential moving averages, 50 EMA, 100 EMA and 200 EMA?
• Are ADX 14 readings below 20?
• Are Relative Strength Index 14 readings below 30?
• Are Relative Strength Index 14 readings above 70?

If you are interested in further details, I strongly recommend Kathy Lien's currency pair checklist.

Here is a daily trading checklist example. I often write it every day.  

A daily trading checklist

Pre trading checklist

I found a lot of forex traders only write a currency trading plan and keep a currency trading diary. They never made a pre trading checklist! 


In fact, a pre trading checklist can find the forex trading opportunities and avoid forex trading mistakes. Today I will guide you toward a better mastery of it

If you are a forex trader, you should write a forex trading checklist. It may include:

• Currency pair
• Date
• Opening price
• Support levels on the daily chart
• Resistance levels on the daily chart
• Are ADX readings above 25?
• Has it crossed 20 exponential moving averages, 50 EMA, 100 EMA and 200 EMA?
• Are ADX readings below 20?
• Are Relative Strength Index readings below 30?
• Are Relative Strength Index readings above 70?

I think the aim of a pre trading checklist is to determine the main trend on the daily chart. Therefore, I use the moving averages indicator and average directional index.

If you are interested in further details, I strongly recommend Kathy Lien's currency pair checklist.

A Pre trading checklist is presented below. I will update it every day.

• December 17, 2017
• AUDUSD
• 0.76405
• support levels: 0.7627, 0.7597, 0.7549
• resistance lines: 0.7693, 0.7741
• ADX readings are 27
• It has crossed above 20 EMA, but it is still hovering below 50, 100 and 200 EMA
• Relative Strength Index readings are 53.76
• I will buy 1 micro lot of AUD/USD at 0.7637

Here is my pre trading checklist, you can modify it according to your trading style.

In the next couple of articles, I will you the day trading checklist and the stock trading checklist.

More reading: Ripple....rips higher. Do the technical tools help define risk?

How to start a day trading business

Are you wanting to make money easily in the forex trading market? You've come to the right place. Today I will show how to start a day trading business.

First, you might have figured out trading is a business and run it on business principles. Therefore you have to build a day trading plan, a pre-trade checklist and keep a day trading journal excel. I think they are the essential trading tools every day trader should use.

Second, only persistent study yields steady progress. Many forex day trader neither read day trading books, nor maintain a pre-trade checklist.

But profession traders are keeping on learning and training to develop their own profitable day trading system. 

Third, you should learn to day trade forex with a demo account. Some FX day trader may disagree with such a view. But professional forex day traders think it is important. Because demo trading can help you develop and test your day trading systems.

Now I have to say how to find day trading strategies that actually work. In fact, this is a long process. You have to follow the day trading tips:

1. You must identify the main trend on the daily chart. 
2. You must write a day trading plan and keep a day trading journal
3. You must properly manage your forex risk

Fourth, you should only open a forex trading micro account and develop a profitable day trading system. Because you can't afford to big or many small losses. 

Fifth, if you are going to make a living from forex day trading, you have to open a live account with $50000. 

Wait, I haven't seemed to review forex trading sites. Maybe you can learn to day trade at babypips.

Today you have known how to start a day trading business. You can start it.

Remember that you cannot expect to be a millionaire, just trade forex day trading the right way!

More reading: Can you be a professional gambler? 

How to start a day trading business

Forex grid trading ea review

Today I will review the forex grid trading ea strategies. 

First, I've often seen some FX traders test the forex grid trading ea on the one minute chart. Frankly, I think it's terrible. It ignores the major trend on the daily chart.

Second, some novice traders simply focus on the grid trading forex ea. It also ignores the major trend. I think they will get nothing. 

Third, though most of the forex trading sites shows the free forex grid trading ea, it can't trade in a range-bound market. For instance:

• buy stop order
• buy stop order
• buy stop order
• median price
• sell stop order
• sell stop order 
• sell stop order

At last, don't think you can succeed with the forex grid trading ea. Remember that success comes from hard work and execution. So you have to build a forex trading plan and develop a forex trading journal. 

For me, I always use the one direction grid trading system. For example:

• I only focus on one currency pair. Therefore I will decide to trade the major pairs like GBPUSD
• I have to update the forex trading checklist every day.
• on the daily chart of the GBPUSD, it stays above a bullish support trend line.
• My grid spacing is 47 pips on the 4 hour chart
• My grid lot size is 0.01 lots
• My take profit is 47 pips and can't set stop loss order.
• Maximum number of trades are 8
• I place buy limit orders near support lines
• I place sell limit orders near resistance
• Every day I will set new forex limit orders
• When the forex market is trending, I will use a buy-and-hold strategy.
• Sometimes I am going to try and keep it simple. Therefore, I stopped checking the RSI and ADX indicators

This is my first grid trading forex ea. I will test it with a demo account.

Forex trading plan checklist

Today I would like to show you the forex trading plan checklist.

Now, I want you to know every professional traders have 3 essential forex trading tools

• a forex trading plan
• a forex trading plan checklist
• a forex trading journal

I think you must have known how to write a forex trading plan and develop a forex trading diary. So I will explain the forex trading checklist in more detail. 

The following is my everyday work

First, I will use a trend line to identify the main trend on the daily and 4 hour chart. 

Second, I am going to keep up with the price action.

• I will wait for price down to the trend line.
• If price closes below trend line support, I will stop forex trading.

Third, I will draw support and resistance levels on the daily and 4 hour chart. Of course, I will never forget the weekly chart.

Fourth, I will check the Relative Strength Index every day.

Fifth, I am going to check the Average directional Indicator every day.

Sixth, Sometimes the markets move so much after the a major news release. So, I will focus on the Dailyfx Economic Calendar.

At last, once I have identified a trending market, I will use the one direction grid trading system on the daily chart. However, if a trend is not present, I will stop forex trading.

Here is a Forex trading checklist template:

GBPUSD daily chart

First, I will decide to trade the major pairs like GBPUSD

Second, before trading, I will check the Dailyfx Economic Calendar.

Third, on the daily chart of the GBPUSD, it stays above a bullish support trend line.

• The Average direction Index is 25.4. It indicate a weak trend.
• The Relative Strength Index is 49.72

GBPUSD 4 hour chart

Fourth, on the 4 hour chart of the GBPUSD, the price had broken through the trend line and cause a reversal

• The Average direction Index is 33.93
• The Relative Strength Index is 36.57

Now I will think for a minute. Is this the right trade at this time? 

No, I won't make the trade here. The picture isn't clear.

I think the great advantage of the forex trading checklist is that you can find the forex trading opportunities.


Now I have explained the forex trading plan checklist to you. 

If you want to know more, please read my other forex trading articles.

More reading: Trading with Multiple Chart Indicators

Forex grid trading review

In this article, I will review the forex grid trading strategies.

Now some beginners have a bias against the grid trading systems. For example, it will blow up the forex trading account.

I think that it is better than other forex currency trading system. Because we place multiple trades forming a grid pattern, instead of placing one trade

In fact, not only the forex grid trading, but also the rest of the forex trading strategies will blow up it.


Therefore, I stick to trade using the micro lots one trade at a time. I think it is my basic idea of grid forex trading.

Let's go over again I will value the forex trading risk management rules and trade Forex with a Small Trading Account.

Second, some beginners think it won't make enough money. But professional traders always treat forex trading like a business.

• They will write a forex trading plan. It can define the real profit targets, the entry and exit points and the risk management rules.
• They will build a forex trading checklist. It will help them find the forex trading opportunities
• They will write a forex trading journal. It will help them track, measure and improve the trading performance.
• They will learn to trade forex with a demo account. 

I believe these are the most basic concepts of forex trading.

Third, some beginners think it doesn't need to identify the major trend on the daily chart. In fact, professional traders will use a trend line to determine the major trend.

At last, I am not content with the forex grid trading system, I have developed more basic forex trading systems on the MetaTrader 4 platform. For instance, the 4 hour forex trading strategy and the forex day trading strategy.

Anyway, I'll build a lifelong habit of learning.

I'm writing this review because I think the gird trading method is the most popular forex trading strategy. It will be well worth my time and effort to learn.

my forex grid trading review

Forex grid trading explained

Today I will start explaining the forex grid trading system.

Now there are too many forex trading systems. For instance, 4 hour forex trading strategy or forex day trading strategy. However, the fact is they were always horrid to drive.

Why 99% of FX traders lose money?

Many beginners are going to ignore the forex trading risk management rules and take a much larger trade. Therefore, I stick to trade using the micro lots one trade at a time.

That is my basic idea of grid forex trading. Is it very straightforward?

Though it is the simplest forex trading strategy, it's the basic concepts in the forex trading markets

Here is an example of the forex grid trading:

First, many Forex traders must wait for a trend or breakouts. They don't really know what is a range-bound market. So I will only trade the daily range.

Second, I will decide to trade the major pairs like GBPUSD

Third, I will draw a trend line to identify the main trend on the daily chart. For example, on the daily chart of the GBPUSD, it stays above a bullish support trend line.

GBPUSD stays above a trend line

Fourth, I have to use only two forex indicators, the Relative Strength Index and the average directional index.

Fifth, I must write a forex trading plan and a forex trading checklist. It can help me find the best forex trading opportunities.

• I trade GBPUSD on the 4 hour chart
• My grid spacing is 47 pips
• My grid lot size is 0.01 lots
• My take profit is 47 pips and can't set stop loss order.
• I place buy limit orders near support lines
• I place sell limit orders near resistance
• Every day I will set new forex limit orders
• When the forex market is trending, I will use a buy-and-hold strategy.

At last, I won't start my own forex trading business directly. I will demo trade until I develop a solid, profitable grid trading system.

Now I have explained the forex grid trading to you. I believe that it's main advantages are simple and easy.

If you want to know more, please read my other forex trading articles.