A recommended reading list for traders. There is a sea of trading books, many of which don’t stand the test of time or impart much truly actionable wisdom. In my personal experience, I’ve found these to be very helpful in my journey.
-Peter Reznicek
Recommended Reading List
| Cover | Title/Author | Description | Purchase |
|---|---|---|---|
 | Markets and Momentum by James Dalton | Jim’s third and final market profileA way of reading the market that recognizes either time spent or volume traded at a particular price level. A market profile can be either made up of “TPO’s” (time price opportunities), or volume. TPO’s measure how much time was spent at a particular price, while volume-based market profiles measure how much volume traded at a particular price. Generally, market profile is used in the trading of futures, especially the /ES. ShadowTrader utilizes volume based profiles. book. With a bit more emphasis on the psychological aspects of trading the profile, this one is like the icing on the cake of his first two market profileA way of reading the market that recognizes either time spent or volume traded at a particular price level. A market profile can be either made up of “TPO’s” (time price opportunities), or volume. TPO’s measure how much time was spent at a particular price, while volume-based market profiles measure how much volume traded at a particular price. Generally, market profile is used in the trading of futures, especially the /ES. ShadowTrader utilizes volume based profiles. classics. | Buy Now |
 | Mind Over Markets by James Dalton | The first Dalton book which is a true classic. There were a couple market profileA way of reading the market that recognizes either time spent or volume traded at a particular price level. A market profile can be either made up of “TPO’s” (time price opportunities), or volume. TPO’s measure how much time was spent at a particular price, while volume-based market profiles measure how much volume traded at a particular price. Generally, market profile is used in the trading of futures, especially the /ES. ShadowTrader utilizes volume based profiles. texts before this but this is the one that really sparked interest in this way of reading the market. This should be the starting point for anyone looking to get started profiling. | Buy Now |
 | Markets in Profile by James Dalton | This picks up where the first one left off. Some great behavioralal finance stuff in here explaining how traders are often driven by emotions and opinion rather than market generated information. | Buy Now |
 | Options Theory and Trading by Ron Ianieri | Ron was a floor trader at the PHLX before the screens took over. We had many deep conversations about options theory over drinks. Much of that became my foundation in how I see and trade options. Ron passed in 2019 but his teachings live on in this book. | Buy Now |
 | Japanese Candlestick Charting Techniques by Steve Nison | Your technical analysis journey should start right here. The seminal classic on basic patterns that repeat over and over in the markets. I see this as a starting point for all technical based traders. | Buy Now |
 | Reminiscences of a Stock Operator by Edwin Lefevre | If there is one book for traders of all skill levels to read, it is THIS. I’ve read this about 6-7 times and my copy is heavily highlighted and dogeared. Proof that the markets over 100 years ago were exactly the same as they are now. Possibly the best trading book masquerading as a novel ever written. | Buy Now |
 | How to Trade in Stocks by Jesse Livermore | Late in his career, he actually wrote a book that laid out his methodology and more importantly how he looked at the marketIf ShadowTrader is initiating a position “at the market” it simply means that limit orders are not being used and the position is being entered with no regard to price. This is used much more often on more liquid Nasdaq issues.. The theories here still hold up today. A worthwhile read. | Buy Now |
 | Jesse Livermore World’s Greatest Stock Trader by Richard Smitten | You think your family is crazy? Not even close to these people. Some cool backstory on Jesse and subsequent generations of Livermores. Definitely a fun read if you are into Remniscences. | Buy Now |
 | A Beginner’s Guide to Daytrading Online by Toni Turner | The very first book on trading I ever read! I met the author much later at a money show and realized that her market understanding was actually very limited. Regardless, the simple concepts in this book are effective and they were a great starting point for me at the time. | Buy Now |
 | How I Made $2 Million in the Stock Market by Nicholas Darvas | Do your emotions get in the way of holding your winners longer? This just might be the book for you. A detailed system for swing trading where you literally don’t look at the charts while the market is open. | Buy Now |
 | Technical Analysis of Stock Trends by Edwards & Magee | Many consider this to be the bible of technical analysis. Sort of the be all end all tome on the subject. I tend to agree. Comprehensive and thorough and an excellent reference book to have around. Everyone should read this one at least once. | Buy Now |
 | Getting Started in Chart Patterns by Thomas Bulkowski | A more entry level starting point if you don’t want to get into his encyclopedia below. Love this guy’s work. | Buy Now |
 | Encyclopedia of Chart Patterns by Thomas Bulkowski | Hard data and statistics on every chart pattern uner the sun. Want to know how often that ascending wedge actually works in bull and bear markets? This guy actually tracked it. Great Xmas or birthday present for that T/A nerd in your life. | Buy Now |
 | Tools & Tactics for the Master Day Trader by Velez & Capra | These guys were on the forefront of trading rooms and newsletters in the late 90’s when the internet bubble was raging and yours truly was just starting to get interested in the market. I never bought any of their services, but their methodology and way of thinking shaped a lot of what I do now which is to focus on M.G.I.Market Generated Information. only and ignore reasons for why things are happening. | Buy Now |
 | The Disciplined Trader by Mark Douglas | Hands down, the best book on trading psychology ever written. This dude was the GOAT and everything else pales in comparison. He paved the way in this field and died way too young. A must read for all. | Buy Now |
 | Trading in the Zone by Mark Douglas | The follow up to Trading in the Zone. Some traders think this is the better of the two. I am still going with “Disciplined”, but if you like that, then you’ll definitely appreciate this one as well. | Buy Now |
 | Zen in the Markets by Edward Allen Toppel | Another must read on the psychological front. I feel this one got a bit overlooked and is not as well known as other books on the subject. I loved it and highly recommend it. The inner game is really the whole game. | Buy Now |
 | Intermarket Analysis & Investing by Michael E.S. Gayed | You know that guy on Twitter that you either love or hate? The one that always says “few”?. This is his father’s book which is the basis for his work as well. If you’re into longer term investing based on correlations between different sectors and and instruments, then this will be right up your alley. | Buy Now |
 | Managing Expectations by Tony Saliba | The only options trader in the original Market Wizards book by Schwager. That says a lot to me. Greeks, complex spreads, synthetics, a little bit of everything here. | Buy Now |
 | Option Volatlity and Pricing by Sheldon Natenburg | Hang out with some old school options floor traders from Chicago and you’ll hear this book mentioned. A starting point for a lot of older traders. Can get a little “mathy” but worth it if you can work your way through. | Buy Now |
 | How to Make Money in Stocks by William O’Neill | The originator of the CANSLIM method and founder of Investor’s Business Daily. If you like buying quality names on breakout patterns, this is the book for you. | Buy Now |
 | How to Take Money From Wall Street by Tony Oz | Not sure what happened to this guy, but in the late 90’s, early 2000’s he had quite the following. Some chart patterns, tech stock breakouts, basic stuff. Another one that I read very early in my career. Good for beginners. | Buy Now |
 | Big Trends in Trading by Price Headley | I did a live event with him in San Francisco a long time ago. A sweet guy who struck me as a journeyman with good discipline who was just grinding it out. Inspired me to become something of the same. | Buy Now |
 | Market Wizards by Jack Schawger | Tales of the some of the biggest and best to ever do it. Inspirational for anyone on this path. | Buy Now |
 | The Nature of Risk by Justin Mamis | Some fractals, some market structure, some just “out there” stuff. I read this on a dusty old train running west from Casablanca out to the beach in Morocco. | Buy Now |
 | Best Loser Wins by Tom Hougard | Seems like the new kid on the block as far as trading psychology is concerned. Solid stuff here. If you can’t figure out how to lose small and often, then you won’t last in this game. | Buy Now |
 | Trading Sardines by Linda Bradford Raschke | A great vacation read. I did it poolside in Jamaica. If you trade for a living, you’ll get the humor in this. Field notes from a legend. | Buy Now |
 | Confessions of a Street Addict by Jim Cramer | From Harvard to homelessness to Wall Street and everything in between. A lot of inspiration here for the hustle and grind crowd. Bonus points for being from Philadelphia. | Buy Now |
 | In This Economy? by Kyla Scanlon | One of the most clear eyed and intelligent under 30 voices of the blogosphere. Not a trading book, but should be required reading for everyone. Just the basics of economics that you missed in school. Check out her substack, it’s phenomenal. | Buy Now |
