Trader's Library: Books About Trading and the Markets

Trader's Library · introduction. I've collected books that have a real connection to markets, trading, risk and the psychology of decisions: from speculation classics to modern trading psychology. Each has its own article: what it's about, what it gives a trader, which lessons are worth taking from it, what to watch out for and how useful it is (1–5 stars). Books by one author or on the same subject are covered together, e.g. Taleb, Soros or the Austrian school.

All books

Reminiscences of a Stock Operator (Edwin Lefèvre) What I Learned Losing a Million Dollars (Jim Paul, Brendan Moynihan) A Man for All Markets (Edward O. Thorp) The Alchemy of Finance (George Soros) The Vandals' Crown (Gregory J. Millman) Rogue Trader (Nick Leeson) Jesse Livermore – Boy Plunger (Tom Rubython) The Man Who Solved the Market (Gregory Zuckerman) Confusion of Confusions (Joseph de la Vega) The Art of Speculation (Philip L. Carret) Soros: Other Books and Biographies Belfort: The Wolf of Wall Street and His Later Books Cityboy (Geraint Anderson) Market Wizards (Jack D. Schwager) The New Market Wizards (Jack D. Schwager) Market Sense and Nonsense (Jack D. Schwager) The Alpha Masters (Maneet Ahuja) Market Masters (Michael McCarthy) How to Invest: Masters on the Craft (David M. Rubenstein) Trading in the Zone (Mark Douglas) The Mental Game of Trading (Jared Tendler) Best Loser Wins (Tom Hougaard) Kostolany on Stock Market Psychology (André Kostolany) Your Money and Your Brain (Jason Zweig) High Performance Trading (Steve Ward) Forecasting Financial Markets (Tony Plummer) The Inner Game of Trading and Investing and the Irrational Mind (Howard Abell, Robert Koppel) Investment Psychology Explained (Martin J. Pring) The Psychology of Risk (Ari Kiev) Trading for a Living and Other Books by Alexander Elder Trader Vic I and II (Victor Sperandeo) Futures and Options (John C. Hull) Van Tharp: Trade Your Way to Financial Freedom, Super Trader and Safe Strategies Long-Term Secrets to Short-Term Trading (Larry Williams) Trend Following (Michael Covel) Way of the Turtle and Trading from Your Gut (Curtis Faith) The Universal Principles of Successful Trading (Brent Penfold) Day Trading (Joe Ross) Zenon Komar: The Art of Speculation and Others (in Polish) Mark Shipman: The Next Big Investment Boom and Big Money Little Effort Currencies and Forex: Laidi and Dolan John J. Murphy: Technical Analysis of the Financial Markets Trading Price Action: Trends and Reversals (Al Brooks) Thomas Bulkowski: Chart Patterns and The Evolution of a Trader Technical Analysis Explained (Martin J. Pring) Japanese Candlesticks: Nison and Morris Ichimoku: Sasaki and Hosoda Elliott Waves and Fibonacci: Frost, Prechter, DiNapoli, Fischer, Miner Jake Bernstein: The Compleat Day Trader and Cycles of Profit Fooled by Randomness (Nassim Nicholas Taleb) Thinking, Fast and Slow (Daniel Kahneman) Against the Gods (Peter L. Bernstein) The Poker Face of Wall Street (Aaron Brown) The Black Swan (Nassim Nicholas Taleb) Taleb: Antifragile, Skin in the Game and The Bed of Procrustes Thaler: Misbehaving and Nudge Superforecasting (Philip E. Tetlock, Dan Gardner) The Undoing Project (Michael Lewis) Maria Konnikova: The Biggest Bluff, The Confidence Game, Mastermind Quit (Annie Duke) Leonard Mlodinow: The Drunkard's Walk and Others Noise and Kahneman's HBR Books (Daniel Kahneman, Olivier Sibony, Cass R. Sunstein) Poker Brat (Phil Hellmuth) The Intelligent Investor (Benjamin Graham) William O'Neil: How to Make Money in Stocks and 24 Essential Lessons The Most Important Thing (Howard Marks) Principles (Ray Dalio) The Psychology of Money (Morgan Housel) Peter Lynch and Philip Fisher (Peter Lynch, John Rothchild, Philip A. Fisher) The Little Book That Beats the Market (Joel Greenblatt) Valuation and Textbooks: Damodaran, Rappaport, Mayo, Ritchie, Tim Lee Buffett and Value Investing: Hagstrom, Connors, Browne John C. Bogle: The Little Book of Common Sense Investing and Enough Other Investment Strategies: Katsenelson, Lichtenfeld, Kroeze, Cramer The Big Short (Michael Lewis) Flash Crash (Liam Vaughan) Extraordinary Popular Delusions and the Madness of Crowds (Charles Mackay) Manias, Panics, and Crashes (Charles P. Kindleberger) Liar's Poker (Michael Lewis) Flash Boys (Michael Lewis) The World for Sale (Javier Blas, Jack Farchy) The 1920s and the 1929 Crash: Allen and Burns Peter Bernstein: Capital Ideas and The Power of Gold The Bear Book (John Rothchild) Niall Ferguson: The Ascent of Money and the History of Finance Michael Lewis: Moneyball, Boomerang, The New New Thing, The Premonition Adam LeBor: The Believers and Tower of Basel Robert Shiller: Animal Spirits and Phishing for Phools The Tycoons (Charles R. Morris) When Money Dies (Adam Fergusson) Mark Skousen: Austrian Economics for Investors Energy and Commodities: Yergin and Pitron Crises in a Nutshell: Schiff, Otte, El-Erian, Stockman, Greenspan The Austrian School: Money, Credit and Cycles Economics Classics: Keynes, Friedman, Sowell, Samuelson, Krugman Gold and Rickards: Currency Wars, The Death of Money and Others Bitcoin and Crypto: Ammous, Antonopoulos, Boyapati, Caras, Mezrich Money and Conspiracy Theories: Read Critically The Art of Learning (Josh Waitzkin) Atomic Habits and The Power of Habit (James Clear, Charles Duhigg) Stoicism: Marcus Aurelius and Ryan Holiday Influence and Persuasion: Cialdini and Bernays Mind and Emotions: Kross, Dweck, Seligman, Markman Chess and Decisions: Kasparov and Kotov Cal Newport: Deep Work and Digital Minimalism Money and Entrepreneurship: Stanley, DeMarco, Badziag Jim Dalton: Market Profile and the Auction Process Schwager on Futures: Technical Analysis

Top 12 to start with

1. Reminiscences of a Stock Operator (Edwin Lefèvre) ★★★★★: The speculator's bible: a book you come back to every few years and see yourself in every time.
2. What I Learned Losing a Million Dollars (Jim Paul, Brendan Moynihan) ★★★★★: The best book about how people lose, because it teaches you what not to do.
3. A Man for All Markets (Edward O. Thorp) ★★★★★: The mathematician who beat the casino and the market explains what a real edge is.
4. Market Wizards (Jack D. Schwager) ★★★★★: The absolute canon: the world's best traders on what really matters.
5. The New Market Wizards (Jack D. Schwager) ★★★★★: A sequel that many traders think is even better than the first book.
6. Trading in the Zone (Mark Douglas) ★★★★★: The most important book on trading psychology: think in probabilities, not certainties.
7. The Mental Game of Trading (Jared Tendler) ★★★★★: A user's manual for your own emotions at the screen, with a method instead of platitudes.
8. Best Loser Wins (Tom Hougaard) ★★★★★: A modern index trader on how the winner is the one who loses best.
9. Trading for a Living and Other Books by Alexander Elder (Alexander Elder) ★★★★★: A complete trader's handbook: mind, method and money in one.
10. Fooled by Randomness (Nassim Nicholas Taleb) ★★★★★: The best book on how much chance masquerades as skill in the market.
11. Thinking, Fast and Slow (Daniel Kahneman) ★★★★★: The scientific source on cognitive biases, including the ones that destroy traders.
12. The Big Short (Michael Lewis) ★★★★★: The best book about the 2008 crisis and about being right alone, against the market.

A reading path for intraday traders

1. Psychology: Trading in the Zone → Best Loser Wins → The Mental Game of Trading.
2. Foundations: Trading for a Living (Elder) → Futures and Options (Hull) → Market Profile (Dalton) → The Universal Principles of Successful Trading.
3. The market and its participants: Reminiscences of a Stock Operator → Market Wizards → Flash Crash.
4. Risk and chance: Fooled by Randomness → A Man for All Markets → Thinking, Fast and Slow.

All titles by category

Speculation classics and biographies: 1. Reminiscences of a Stock Operator ★★★★★ · 2. What I Learned Losing a Million Dollars ★★★★★ · 3. A Man for All Markets ★★★★★ · 4. The Alchemy of Finance ★★★★ · 5. The Vandals' Crown ★★★★ · 6. Rogue Trader ★★★★ · 7. Jesse Livermore – Boy Plunger ★★★★ · 8. The Man Who Solved the Market ★★★★ · 9. Confusion of Confusions ★★★ · 10. The Art of Speculation ★★★ · 11. Soros ★★★ · 12. Belfort ★★ · 13. Cityboy ★★

Interviews with traders: 14. Market Wizards ★★★★★ · 15. The New Market Wizards ★★★★★ · 16. Market Sense and Nonsense ★★★ · 17. The Alpha Masters ★★★ · 18. Market Masters ★★★ · 19. How to Invest: Masters on the Craft ★★★

Trading psychology: 20. Trading in the Zone ★★★★★ · 21. The Mental Game of Trading ★★★★★ · 22. Best Loser Wins ★★★★★ · 23. Kostolany on Stock Market Psychology ★★★★ · 24. Your Money and Your Brain ★★★★ · 25. High Performance Trading ★★★★ · 26. Forecasting Financial Markets ★★★ · 27. The Inner Game of Trading and Investing and the Irrational Mind ★★★ · 28. Investment Psychology Explained ★★★ · 29. The Psychology of Risk ★★★

Trading methods and craft: 30. Trading for a Living and Other Books by Alexander Elder ★★★★★ · 31. Trader Vic I and II ★★★★ · 32. Futures and Options ★★★★ · 33. Van Tharp ★★★★ · 34. Long-Term Secrets to Short-Term Trading ★★★★ · 35. Trend Following ★★★★ · 36. Way of the Turtle and Trading from Your Gut ★★★★ · 37. The Universal Principles of Successful Trading ★★★★ · 38. Day Trading ★★★ · 39. Zenon Komar ★★★ · 40. Mark Shipman ★★ · 41. Currencies and Forex ★★

Technical analysis: 42. John J. Murphy ★★★★ · 43. Trading Price Action ★★★★ · 44. Thomas Bulkowski ★★★★ · 45. Technical Analysis Explained ★★★ · 46. Japanese Candlesticks ★★★ · 47. Ichimoku ★★ · 48. Elliott Waves and Fibonacci ★★ · 49. Jake Bernstein ★★ · 107. Jim Dalton: Market Profile ★★★★★ · 108. Schwager on Futures: Technical Analysis ★★★★

Risk, chance and decisions: 50. Fooled by Randomness ★★★★★ · 51. Thinking, Fast and Slow ★★★★★ · 52. Against the Gods ★★★★ · 53. The Poker Face of Wall Street ★★★★ · 54. The Black Swan ★★★★ · 55. Taleb ★★★★ · 56. Thaler ★★★★ · 57. Superforecasting ★★★★ · 58. The Undoing Project ★★★★ · 59. Maria Konnikova ★★★★ · 60. Quit ★★★★ · 61. Leonard Mlodinow ★★★ · 62. Noise and Kahneman's HBR Books ★★★ · 63. Poker Brat ★★

Investing and the stock market: 64. The Intelligent Investor ★★★★ · 65. William O'Neil ★★★★ · 66. The Most Important Thing ★★★★ · 67. Principles ★★★★ · 68. The Psychology of Money ★★★★ · 69. Peter Lynch and Philip Fisher ★★★ · 70. The Little Book That Beats the Market ★★★ · 71. Valuation and Textbooks ★★ · 72. Buffett and Value Investing ★★ · 73. John C. Bogle ★★ · 74. Other Investment Strategies ★★

Market history, crises and scandals: 75. The Big Short ★★★★★ · 76. Flash Crash ★★★★★ · 77. Extraordinary Popular Delusions and the Madness of Crowds ★★★★ · 78. Manias, Panics, and Crashes ★★★★ · 79. Liar's Poker ★★★★ · 80. Flash Boys ★★★★ · 81. The World for Sale ★★★★ · 82. The 1920s and the 1929 Crash ★★★ · 83. Peter Bernstein ★★★ · 84. The Bear Book ★★★ · 85. Niall Ferguson ★★★ · 86. Michael Lewis ★★★ · 87. Adam LeBor ★★★ · 88. Robert Shiller ★★★ · 89. The Tycoons ★★

Money, macro and economics: 90. When Money Dies ★★★★ · 91. Mark Skousen ★★★ · 92. Energy and Commodities ★★★ · 93. Crises in a Nutshell ★★★ · 94. The Austrian School ★★ · 95. Economics Classics ★★ · 96. Gold and Rickards ★★ · 97. Bitcoin and Crypto ★★ · 98. Money and Conspiracy Theories ★

Habits, learning and the mind: 99. The Art of Learning ★★★★ · 100. Atomic Habits and The Power of Habit ★★★★ · 101. Stoicism ★★★ · 102. Influence and Persuasion ★★★ · 103. Mind and Emotions ★★★ · 104. Chess and Decisions ★★★ · 105. Cal Newport ★★★ · 106. Money and Entrepreneurship ★★

How I chose

• What counts is the connection to markets: speculation, risk, decisions, psychology, market history and money.
• The rating (1–5 stars) is about usefulness for a trader, not the book's literary merit.
• Books by one author or on the same subject are covered together, so as not to repeat the same conclusions.
• For controversial or poorly documented books I say so plainly in the “What to watch out for” section.

Have a book that's missing here? Let me know in the comments and I'll add it to the Library.

How to use it

• Start with the Top 12 or the reading path for intraday traders.
• After reading, come back to the article and write down in your journal one lesson you want to carry over to your trading.
• Many articles refer to the Atlas of cognitive biases (🧠 Psychology and the journal). The books in the “Trading psychology” and “Risk, chance and decisions” categories are the best complement to it.
• Films based on several of these books (The Big Short, Rogue Trader, The Wolf of Wall Street, Moneyball) are described in the 🎬 Trader's Film Library.

Educational content, not investment advice.