Trading is so hot right now. Forget TikTok dances, we want apps that can make us money without having to stack up followers to get influencer status. With more time on our hands than ever before, along with job uncertainty, the Covid perfect storm has allowed savvy people an easy entrance into the world of trading - via apps like Robinhood.
The explosion of trading apps with a slick, easy UI, is aimed at Gen Zers with a small amount of cash to invest and a fierce appetite for screen time. If you want to try out gambling online instead of market-making - which may end up being equally as successful - Nodepositdaily has a list of sites and their bonuses for you to test your new skills.
While there are app tutorials to work through and paper trading where you can play on real markets with fake money, sometimes to get the knowledge in, it’s best to go back to the books. When you’re trying to get involved in trading - rather than investing with long-hold strategies, you want to get it right, so you’re not losing cash.
Today we check out some great reads that will help you get ahead in the stocks, FIAT, and crypto markets - as approved by /r/wallstreetbets.
Options, Futures and Other Derivatives by John C. Hull
For first forays into options, futures, and other derivatives, this is the must-read book. Perfect for the beginner level, this book includes problems to work through yourself at the end of each chapter to see if the knowledge has really sunk in.
Written much like a textbook, it can be quite dry; however, the breadth of topic coverage is huge, and it outlines a fair amount of the math involved in the market. If you are looking to do this type of trading, pick this one up immediately. It’s known as the bible, or simply Hull, in the industry for very good reason.
Buy Options, Futures and Other Derivatives on Amazon.
Hedge Fund Market Wizards by Jack D. Schwager
In this book, Schwager interviews fifteen hedge fund traders who’ve made fortunes in the market, including Jamie Mai, Joel Greenblatt, and Michael Platt. This gives unique insights into what makes these guys tick in their careers and just how they’ve become so wildly successful.
This title is part of a series that includes Stock Market Wizards and New Market Wizards; however, this one is perhaps the highest rated among readers.
If you want to know how to make it to the very top of the game - hedge fund manager status - or at least glean some insights from those who have, then pick this one up.
Buy Hedge Fund Market Wizards on Amazon.
A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing by Burton G. Malkiel
This is the book to read to learn about investing over your lifetime. This ain’t a simple trading strategy tale, it’s about learning how to best manage your own finances in the stock market (and other investments) to get ahead in the long run.
Burton’s advice to buy and hold, of course, rings true - we know that markets go up over the long term always - but there is much more to this book than simply telling you to buy and hold. It’s about different strategic investments at different stages of life, to buy the home you live in, and what to do (and when) with emerging markets.
If you want classic advice that will always ring true (to offset your risky crypto portfolio), then give this book a spin.
Buy A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing on Amazon.
The New Trading for a Living: Psychology, Trading Tactics, Risk Management, and Record-Keeping by Alexander Elder
A classic, The New Trading for Living is a great start for those just dipping their toes into the world of trading. With this in hand, you’re able to effectively assess your own trading readiness and develop your own system for trading - a must if you know what you’re actually doing.
This book teaches you the basics of behaviors you’ll need to make it in trading, with the psychology of general trading spelled out, so you know exactly what you’re getting yourself in for. With this under your belt, you’ll have the basic knowledge from which you can build on in further learning materials. The risk management chapter, in particular, is a must-read for anyone interested in trading.
Buy The New Trading for a Living: Psychology, Trading Tactics, Risk Management, and Record-Keeping on Amazon.
The Candlestick Course by Steve Nison
Candlestick charting is one of the basic ways of tracking markets, made popular in the West by none other than the author of this book. Jam-packed with candlestick charts, you’ll need a hard copy of this book to ensure you get the most out of it.
In it, Nison explains the patterns we see in trading apps, giving us a chance to really understand how to read them properly, from basic charts through to complex examples. Consider it a staple in your trading bookcase for fundamental chart knowledge.
Buy The Candlestick Course on Amazon.
The End Read
Traditionally, trading hasn’t exactly been a sexy field to get into. However, all that’s changed, and we have a whole field full of cool apps where we can invest a little or invest a lot. If you want to make some money - or at least not lose a whole bunch - have a read of these before you dip your toes into the trading game.
