Whether you are a beginner day trader or a day trader with lots of experience, there are two trading books I recommend for all day traders. If you are wanting to learn how to start day trading in the smartest way possible, you need to understand the importance of what these two books will talk about. I’ve been coaching beginner traders since 2013 and one of the most common problems I see are people overlooking this aspect of what it takes to be a consistently profitable trader. You can have all the understanding in the world of technical analysis and cash flow statements; however, if you overlook this area of the market and what it takes to make money as a trader, you’ll have at best a whole lot of headaches. Let me share with you two books that I believe can truly help make a difference in your day trading results.
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Transcript:
we're goodI want to share with you two
books that I would recommendthat all beginning day
traders should be reading,should have within their
arsenal of knowledge.And even if you're not a beginner,even if you have experience,
but maybe you're struggling,your results aren't that consistent,then I would say these booksshould definitely be
considered by you also.And I'm gonna get right to it.This video should be,if I do my job the way I
think I'm gonna do my job,should be super, super fast.So, actually, let me take a
step back before I get to that.I do realize that I've done other videos,in fact, I'll put those links down below,about why I think that 95%
of trading books don't work,why they're a little deceptive,why they offer very little value.And, like I said, I'm not
gonna go into all that.But if you're curious on my thoughtson just kinda trading books in general,then, like I said, there's a couple videosI'll link down below,and you can go watch those if you want.But the one exception I'll make,and this is where the video,or the books I want to recommend,is when it comes to trading psychology.When you're a beginner,when you're new and just getting started,it's easy to not realizehow much of a mental
game trading actually is.And it's hard to explain.It's hard to kind of relate that to peopleif they've never had
real money on the line.I get it. I hear it all the time."Clay, I'm in a simulator.
I'm doing demo trading.I'm having all this success."And then all of a sudden,they get into real-money situations,and things totally change around.I mean, have you ever been there before?If you have, you are not alone.I mean, I would say that
probably 99% of peoplethat go from simulator
trading to real trading,boom, just like that, they realizethat, "Wow, things change
very, very quickly,"which again circles back to
the psychology of things.So that is why the first
book I would recommendis, "Trading in the Zone" by Mark Douglas.We'll put a link down below,
if you want to click on that.That is an affiliate link.So if you want to help out the channel,and I don't know, probably
give us like 15 cents,then just click on the link,and it'll go to a Amazon affiliate.But this would be the book
that I obviously have.And, "Trading in the
Zone," a very good book.I don't know if famous is the right word,but I think it's a
relatively well-known book.Maybe I'm telling you this,and you're like, "Clay I've
already heard of that book."Well, hey, there you go.Here's another recommendationthat you made a good choice to read it,or that you're making a good choiceof maybe you're thinking of reading it.So, like I said, "Trading in the Zone"would be the first one.And then the second one
is "Trade Mindfully."Full disclosure's sake,
I don't own it either.However, I will say that many membersin the trading community that
I offer at ClayTrader.comhave read it, and they've had
really good reviews on it.So, again, I'll put a
link down below to Amazon,and you can go and check
that out if you want.But those are the two books that I believecan really help you out in your trading.Are they holy grails? Are
they gonna fix everything?Of course not.There is more to tradingthan only just looking and
understanding psychology.There are other pieces of the puzzle.But my point here is
that one, or oftentimes,a big overlooked piece of the puzzleis the whole trading psychology aspectof this thing, this side
hustle, this full-time gig,whatever you want to call it,we call being a trader in the markets.So check out those couple books,and hopefully they can help you out.Hopefully they can put
you in the right mindset.I mean, if you're brand newand just getting started, then fantastic.That's gonna set you up from the get goabout just how mentally draining,how mentally challenging
trading can actually be.So I hope you found this video helpful.Check out those books.If you do enjoy just small,
quick little videos like this,I'm curious about that.So, a very fast way to
communicate that to me,just hit that like button.Comments, questions, suggestions,
leave those down below.Have you read these books
before? I don't know.Tell me what your thoughts
are on 'em down below.And then finally, check
out the channel as a whole.Lots of other types of
videos, good variety.So, hopefully you like what you see enoughto hit that subscribe button.Yeah, check out those two books,and hopefully they can help you
in your journey as a trader.First off, thanks so much for
watching the entire video.Real quick, before you
go, I want to invite youto a live webinar, web
class, training, workshop,online event, whatever
you want to call it,but it will be me, live,revealing to you what I've discoveredthat has allowed me to transform myselffrom being an employee
to being my own boss,including how I had only one losing dayout of 73 days in total.I'm going to cover three keysthat have helped me unlock
profitable consistencywithin the markets.The first key is super weird,but in a productive type of way.The second key is super awesomebecause it quite literally is
wired into our DNA as humans,making it very easy to
use, but, in a cruel way,this becomes a pitfall for many traders.I'll explain it all, though,including how to avoid the
pitfall that it creates for some.And yeah, the third key, when you hear it,sounds way too good to
be true, but it's not.And I'll show you how it all works.Then, at the end, I open it upfor a question and answer sessionthat is, again, totally live.Even if you can't make the live session,please still sign up,
as it will be recorded,and you can go backand watch the replay that I will send you.Click the image on the screen,or click the link down
in the description boxso you can get the date and
time, and claim your spot,which I should note is limited,due to the fact that this
truly is a live event.If you have any questions, let me know.If not, I'll be seeing you soon.