This page is meant to serve as a quick reference guide
for traders who want to learn more about the markets
or are simply looking for resources to further their
trading education. The links we provide here will
serve as valuable tools in sharpening your personal
The books that I recommend below have played a crucial role in developing my personal trading strategies as
well as teaching me about the right mindset to maintain while trading. Believe it or not, your trading psychology
can be the deciding factor between consistent profitability versus making a few good trades then taking one
huge loss and giving everything back to the markets. These books are on my 'must read' list for any trader who
wants to become a consistent winner.
Darvas was a dancer who managed to turn $8,000 into more than $2,000,000
over the course of 5 years by developing a trading technique called the
Darvas Box. In the 1950's while he was traveling around the world, Darvas
would receive daily telegrams which would provide him with the necessary
information to track price movement on select stocks and decide on when to
buy as well as what stop losses to set.
This book is a must read for anyone who attempts swing trading and has
trouble with trader's anxiety. It discusses how some of Darvas' most
profitable trades were those that he simply analyzed, left alone, and allowed
to grow over time.
read books about Trading Psychology. Douglass explains the psychology
behind price movements in stocks, as well as how the market system is built
to take advantage of human emotion. Upon reading these books traders will
understand the importance of objectively analyzing the markets and adapting
to the situation. Mark Douglass shows us how the most important skill a trader
can poses isn't how strong their technical analysis is, but rather how fast they
can adapt to changing conditions in an unpredictable and unlimited
and new traders to learn about technical analysis and effective trade setups.
The Squeeze trade used by Market Prowler wasn't developed by John Carter,
but he was the one who refined it to perfection. In Mastering The Trade
readers learn a variety of setups that can be applied to any market condition
for profitability. Carter discusses such setups as TICK fades, pivot fades, gap
plays, carry trades, and much much more. Most importantly, in the final
chapter of this book, John Carter explains the importance of having a
'Trader's Business Plan' and how it can be the difference between success and
failure. Carter provides readers with examples of his own Trader's Business
Plan as well as business plans that some of his students have developed for
their own trading.
In trading, having the right broker for your trading style is just as important as having the right analysis tools and
trade setups. Choosing the right platform based on your account size as well as trading strategy can lead to more
cost effective trades where a smaller portion of your profits will get eaten up by costly commissions.
TD Ameritrade is the primary broker that I personally use. Currently their commissions
are $9.99 per trade and $0.75 per Options contract. The biggest advantage of opening
an account with TD Ameritrade is that you will receive access to ThinkOrSwim (TOS)
free of charge. TOS is a powerful stock analysis program and the one I use daily to scan
for advantageous setups as well as initiate trades. If you are looking for a stock analysis
platform but don't want to pay costly fees for the other options out there, you can
always open a TD Ameritrade account without depositing any money and utilize their
TOS analysis software.
Robinhood is a trading platform that charges $0 commissions. It is extremely limited in
it's chart analysis capability and doesn't allow the trading of Options contracts (at least
not yet). For anyone that is interested in only trading stocks Robinhood is a good way
to go because of how much money you can save with no commissions. One always can
utilize an analysis program such as TOS to look for setups, and then input all of their
trades through Robinhood.
start at $0.70 which is slightly cheaper than other broker's costs. They however require
a larger minimum deposit of $10,000 minimum for those who are over the age of 25,
and $3,000 minimum for those who are 25 and under. They also offer analysis tools
similar to TOS.
Options Trading Education
For those seeking to learn more about what Options Contracts are, how to trade
them and what strategies are the most effective, OptionAlpha is the go-to
solution. They offer hours of free video lessons where one can learn the ins and
outs of utilizing options effectively to leverage smaller account sizes.
Trading Tips And Helpful Strategies
Be sure to check out our Trading Tips and Educational Videos pages to learn
valuable lessons, good rules of thumb, and the techniques that professional traders
employ to take consistent profits out of the stock market.
Market Prowler Members
Members receive exclusive access to the weekly Market Prowler Newsletter and
Member's Page! We outline freshly formed trade setups that have been proven
profitable and reliable time and time again. Our members are presented with a
variety of reliable trade setups of varying stock price ranges as well as time-
frames. Not only will you get vital information for day trading, but you'll receive
setups for day, week, and even multi-month swing trades to help you build wealth.
Members also receive access to the Member's Education pages, where we teach
you about our favorite stock market indicators and trade setups.
Market by Oleg A. Pozhidaev. This must read book is the perfect starting
point for aspiring new traders who are ready to take their skills to up to
the professional level. It takes traders through a journey where we learn
the basics first such as how to read price charts or common candlestick
patterns. That information is then used as building blocks in order to serve
as a foundation of knowledge for much more effective and complex trade
setups. Readers will learn specific trade setups (including suggested stop
losses and price targets), how those setups work, how to look for them
quickly, and how to use them effectively. The trade setups provided in
this book have been proven time and time again to produce reliable and
consistent profits from the stock market.
Topics Covered: The 6 step process to mastering trading - How to read
candlestick charts - Bid/Ask spread and order types (including OCO and
OTO orders) - Support and resistance - trend lines - Common price chart
patterns - Gaps - Trading effectively with RSI - The MACD Indicator -
Bollinger Bands - The TICK trade - The Darvas Box - Pivot Points - Squeeze
trades - Elliott Wave - Fibonacci Theory - Advanced squeeze trade
techniques - Options contracts - Steps to take when you start trading -
The 7 piece formula to success - Dividend investing - Why the news is
wrong - And much much more!