Swing traders look to trade the intermediate lows and highs on the daily time frame to identify the best swing trading alerts and trading opportunities. they seek to take advantage of bursts of momentum that push the share price up between 5% and 30% over several trading days.
philosophically, swing trading focuses on the opportunity cost of capital. therefore, swing traders are essentially momentum traders, always looking for stocks that are enjoying rapid price appreciation and trying to avoid having investment capital tied up in “locked money” investments like stocks that are doing nothing. /p>
Trading is a profession and it is not easy to master. Becoming a consistently profitable trader requires a serious commitment to learning the necessary skills and becoming proficient in their use.
You are reading: Top swing trading books
This article can help you get started by familiarizing you with 10 of the best swing trading books ever written.
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how to become a master swing trader
If you want to be a successful swing trader, you need a solid swing trading education. one that includes education on swing trading strategies, using various technical and fundamental analysis tools, trading psychology, and risk management, a critical element to trading success.
The following are our picks for the top 10 books on swing trading.
1. how to swing trade by brian pezim and andrew aziz: the best book on swing trading for beginners
Pesim’s book, as the title “How to Swing Trade: A Beginner’s Guide to Swing Trader’s Trading Tools, Money Management, Rules, Routines and Strategies” suggests, covers pretty much everything there is to know about swing trading.
thus, it is an excellent resource for novice traders. pezim trains readers in the basics of stock charting and provides solid fundamental analysis and technical education. it also introduces some swing trading basics and “trading rules to live by” and then outlines several specific swing trading strategies.
“how to swing trade” is essentially a short but comprehensive course on swing trading for beginners. however, even experienced traders can learn valuable lessons from the book. In addition to sharing some of his swing trading strategies and guiding principles, he does an excellent job of including instructions on risk management and capital preservation.
brian even provides information on the “daily grind” of a swing trader and on swing trading as a home business.
You can follow brian benzim and andrew aziz daily by joining their trading room where they trade and teach live by sharing their screen inside the trading room.
2. The Psychology of Trading: Tools and Techniques for Watching the Markets by Brett Steenbarger – The Best Trading Psychology Book
brett steenbarger is an active businessman and associate professor of psychiatry. He has been hired by investment banks and hedge funds to train traders. One of the principles he emphasizes is that the proper mindset for trading is contrary to the way most of us have been raised.
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For example, from our earliest years we are taught to “be careful”, but to be successful traders, we have to practice the opposite of being careful: we have to accept risk.
Each chapter of the book uses a psychiatric case study, such as “the woman who couldn’t love” and “a session at gunpoint,” to explain an element of mindset essential to consistently winning at trading, and then provides practical instructions on developing that mindset.
3. swing trading for dummies by omar bassal
omar bassal was previously director of the asset management division of one of the largest banks in the middle east and currently operates his asset management company. The company uses a stock evaluation formula developed by Bassal himself.
In short, Omar knows a thing or two about how to trade stocks profitably. This book is part of the well-known “dummies” series of texts that provide financial education in simple, easy-to-understand language.
“swing trading for dummies” is mainly divided into three sections:
- technical analysis
- fundamental analysis, including how to select and evaluate the most promising stocks
- money management and portfolio construction and diversification
It’s a great read, and will most likely become one of your favorite swing trading books.
4. detailed guide to price action trading by laurentiu damir
Laurentiu Damir is a devoted disciple of price action trading. In this book on a powerful swing trading strategy for consistent profits, he aims to convert other traders into believers in the wisdom of analyzing investments by using price action, rather than complicated technical indicators, to identify the best swing trading opportunities.
The book presents specific swing trading strategies with good risk/reward ratios that can be applied in trading stocks or other financial securities.
Damir claims that if you master the concepts presented in this book, then you will be able to consistently achieve above average ROIs and pocket trading profits month after month.
He emphasizes the importance of using price action patterns to identify support and resistance levels that offer the best trade entries. he also provides detailed guidance on placing stop-loss orders, identifying profit targets, and actively managing trades once they are initiated.
5. The Master Swing Trader: Tools and Techniques for Profiting from Exceptional Short-Term Trading Opportunities by Alan Farley
Alan Farley is a widely recognized Master Trader and author of “The Daily Swing Trade” newsletter. The book is essentially the book version of Farley’s popular online trading course, “Master Trading.” is a comprehensive guide to identifying and taking advantage of short-term trading opportunities and includes information on charts, identifying support and resistance, price action patterns, and fibonacci retracements.
A unique offering is farley’s in-depth discussion of the time elements that affect trading opportunities: how trading varies from the first trading hour, noon, and the end of the day, to the temporal importance of which day of the week is done. that is, trading seasonality patterns.
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Half of the book features detailed discussions of Farley’s “7 Bells”—essentially, seven swing trading setups that he considers the most reliable. he provides clear illustrations of each trade setup, details the relative risk/reward ratios, and explains exactly how to execute and manage trades.
6. the subtle trap of trading: why so many smart people don’t make money trading and how to get on the right track in less than two hours by brian mcaboy
In this relatively short 160-page book, mcaboy presents a wealth of useful information for beginning or experienced swing operators, including all of the following:
- The 39 Most Common and Harmful Trading Mistakes and How to Avoid Them
- The 11 Essential Parts of a Successful Trading Business
- The Six Steps to Winning Trade
And, true to form for mcaboy, known for giving out free trading advice, at the end of the book, there is a link where readers can access many free trading resources.
7. enter my trading room, a complete guide to trading by alexander elder: the best book on swing trading written by alexander elder
alexander elder is a legend among professional traders in all financial stock markets including stocks, commodities and forex trading. We’re just not sure if we should have gone with this book or his classic, “trading for a living,” an international bestseller for over two decades.
If you want to be highly profitable at stock swing trading, then this book is virtually a must read. elder goes into great detail about the links between swing trading strategies and the necessary trading mindset.
also provides insightful advice on the critical importance of money management and market timing, as well as pointing out how attention to detail can make a huge difference in your trading profitability.
8. reminiscences of a stock trader by edwin lefevre: best trading book published in 2020
Ask the most successful traders to recommend just one book on trading – 99 times out of 100, this is the book they will recommend. This fictionalized account of the life of history’s most successful stockbroker, Jesse Livermore, is full of trading wisdom that is still quoted today.
- “people looking for easy money invariably pay for the privilege of proving conclusively that it cannot be found in this sordid land.”
- “if a man did not make mistakes in the trading, I’d own the world in a month.”
- “The desire for constant action, regardless of underlying conditions, is responsible for many losses on wall street, even among professionals, who feel they must take home some money every day, as if they were working for regular wages.”
In addition to being perhaps the most insightful book on trading ever written, it’s also probably the most entertaining.
9. swing trading: an innovative guide to trading with less risk by warwick khan: the best book on swing trading strategies with studies
In his book, Warwick Khan shares a wealth of information on various swing trading strategies, including how to trade breakouts, how to trade pullbacks, and momentum, volume, profit, and short-twitch trading setups.
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khan also devotes space to showing traders how to profit from short selling. He backs up his swing trading theories and strategies with many studies and examples and emphasizes the importance of controlling your level of risk exposure.
10. swing trading strategies: 3 simple and profitable strategies for beginners by charles reis
charles reis believes that swing trading offers the optimal mix of opportunity and risk: profit opportunities significantly greater than long-term investing and less trading risk than day traders are exposed to.
This book, just 66 pages long, gives you exactly what the title says, three simple strategies for profiting from swing trading. one is based on trading breakouts, another on swing options trading, and a third is based on trading signals generated by candlestick formations.
best swing trading books: summary
We hope you enjoyed reading the list of the best swing trading books. While there is no book or anything else that will guarantee your success as a trader when swing trading or any other type of trading, books help you get the right knowledge. Extensive swing trading knowledge combined with the best swing trading platform increases your chances of success.
We hope you will find our selections here immensely helpful in increasing your swing trading profitability. It’s a good idea to try out a few different books until you find one or two that seem like a perfect fit for your investing style, risk tolerance, and overall approach to investing.
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