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What Books Should You Read If You Want to Know About Trading?
In 2023, trading assets has become an incredibly popular way to make money. Most people seem to believe that the reason trading has grown in popularity has to do with the fact the market has been made a lot more available. For example, up until very recently, the stock market was only open to a select few. However, approximately 25 years ago, discount brokerages changed everything.
Discount Brokerages and Trading Platforms
For those who may not know, discount brokerages are establishments where anyone can start trading. Discount brokerages offers affordable prices on all of the same services as a regular brokerage. The success of these brokerages led to an increase of people’s interest in stock trading. Which, in turn, has led to the popularity of online trading platforms.
Thanks to the rise in technological advancements, we can now do tasks like trading, investing, and even betting from our own home. Online casinos offer excellent odds, and even share top-tier blackjack strategy guides that help player performance. In a similar vein, online brokerages and trading platforms improve the trading experience, and make trading a lot easier for newcomers.
The new wave of interest in trading has brought many new people into the industry. But, being a trader takes time and research. In this article, we would like to provide some excellent books, that will help you develop your skills as a trader.
Trading Manuals
Off the bat, we are getting through the most obvious choice. There are hundreds of books, written by writers of various expertise, for readers of various expertise. We realize that these books may not be the most captivating or interesting. However, if you are going to start trading and understand how the business has changed, these books are a must read.
When it comes to trading, you never truly stop learning. So, reading technical books about the market and its developments is something you will have to continue to do throughout your life. However, if you are a newbie, select one or two of the most popular and easily accessible reads and start there. Our recommendation would be to check out The Art and Science of Technical Analysis, A Beginner’s Guide to the Stock Market, and The Art of Currency Trading.
However, it isn’t just trading manuals and technical books that you must read. A ton of books on the history of stock trading have been written. And behind many of them are interesting writers with a gripping style. So, let us take a look at some books that are certain to keep you entertained.
Greg Farrel’s “Crash of the Titans”
“Crash of the Titans” is a subtle, in-depth exploration of the decline and eventual crash of Merrill Lynch. Any trader, no matter how experienced must know about the titans that completely revolutionized the trading world. Their importance to the financial world cannot go understated.
They brought Wall Street to Main Street. They introduced offices in cities and towns that had long been forgotten or outright abandoned by the industry. It is because of the efforts that the company made that many average, everyday Americans were able to get rich through the stock market.
In 2009, Merill Lynch met its untimely demise, and was acquired by the Bank of America. In his excellently engrossing book, Greg Farrel goes through the reasons behind why and how the decline and eventual collapse happened.
Burton Gordon Malkiel’s “A Random Walk Down Wall Street”
Burton Gordon Malkiel is an accomplished economist and writer. He works as professor of economics at Princeton University, and has served as the president of the American Finance Association in 1978, as well as a member of the Council of Economic Advisers, between 1975-1977. In 1973, his book “A Random Walk Down Wall Street” released to pretty positive reviews.
The book examines popular investing techniques and discusses how viable they are. It examines technical analysis and fundamental analysis from an academic point of view. But, what it is most famous for is the “random walk hypothesis”.
The random walk hypothesis is an economic hypothesis regarding the volatility of Wall Street’s prices. Within the book, Mr. Malkiel expounds on the idea that prices on Wall Street exhibit the characteristics of a “random walk,” and therefore, it is impossible to attempt to predict them. The book also shares a few strategies on how to better invest in a market that is known for its randomness and volatility.
