Are you looking for the best books about trading? Do you want to be a trader but don’t know where to start? Find below a list of the best available books that will inspire and show you the basics of trading.
The Prize: The Epic Quest for Oil, Money & Power by Daniel Yergin
This book and its sequel “The Quest” (listed below) narrate the historical developments of the petroleum industry. Yergin combines hard facts and incisive insights with an engaging prose.
Buy The Prize: The Epic Quest for Oil, Money & Power on Amazon.
The Quest: Energy, Security, and the Remaking of the Modern World by Daniel Yergin
In this sequel of “The Prize”, Yergin assesses the current geopolitical scenario and implicatins of our current global oil demand. In addition he presents the status quo of new energies.
Buy The Quest: Energy, Security, and the Remaking of the Modern World on Amazon.
Oil 101 by Morgan Downey
This books is the perfect companion for anyone who wants to understand the basics about the petroleum industry, from upstream, midstream, to downstream. A beginners’ manual to understanding crude oil.
Buy Oil 101 on Amazon.
Options, Futures, and Other Derivatives (9th Edition) by John C. Hull
Hull’s book is the referent when it comes to understanding derivatives instruments. In an academic, yet intelligible tone, the author goes through the characteristics of the most common derivatives instruments.
Buy Options, Futures, and Other Derivatives (9th Edition) from Amazon.
Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications by John J. Murphy
This book gives a simple introduction to the technical analysis needed to trade the markets. A long-time classic, it will introduce you to the most commonly used methods and techniques. One of the best books about trading, focusing on the technical side. Buy Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications (New York Institute of Finance) from Amazon.
The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (Revised Edition) by Benjamin Graham
One of the best-sold books in the field of investing, Graham’s book is a classic worth a read, with numerous insights that are inequivocally applicable to a number of industries and trading techniques. Buy The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (Revised Edition) (Collins Business Essentials) from Amazon.
The King of Oil: The Secret Lives of Marc Rich by Daniel Ammann
The most famous trader in history, Marc Rich was a controversial public figure. Loved and hated, he will be remembered as the inventor of modern oil-trading and for having been in exile for decades. This is one of the most authentic books about trading commodities. Buy The King of Oil: The Secret Lives of Marc Rich from Amazon.
Street Smarts: Adventures on the Road and in the Markets by Jim Rogers
Jim Rogers is another mediatic investor famously known for successfully trading the commodity boom. Here, he shares his thoughts about trading commodities and the new status quo in the markets. Buy Street Smarts: Adventures on the Road and in the Markets from Amazon.
Market Wizards, Updated: Interviews With Top Traders by Jack D. Schwager
Another classic, very useful to understand the role of different individuals that trade the markets. Buy Market Wizards, Updated: Interviews With Top Traders from Amazon.
Fooled by Randomness by Nassim Nicholas Taleb
N.N. Taleb is a very outspoken and unconventional academic/trader who introduced a series of books called “Incerto”, which survey the notion of risk of extreme events. His writing style is very peculiar, verbose yet funny and entertaining. Clearly, Taleb wrote one of the most useful books about trading available. He conveys the attitude and environment very well. Buy Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets (Incerto) on Amazon.
The Black Swan by Nassim Nicholas Taleb
His most famous book has become a classic, and for a good reason. The concept itself is quickly understood yet the book is worth reading for its comments on a number of additional fields.
Buy The Black Swan: Second Edition: The Impact of the Highly Improbable: With a new section: “On Robustness and Fragility” (Incerto) from Amazon.
The Disciplined Trader by Mark Douglas
Last but not least, this books is generally referred to as one of the bibles for traders. How to keep focused and make sure that your trading strategy becomes successful. Buy The Disciplined Trader: Developing Winning Attitudes from Amazon.
The selection above will give you a relevant background in energy commodities, derivative instruments, and trading psychology.
So – Start reading today! 12 months, 12 books!
Oil is a good first step to understanding how commodities work:
These books help you with the technical side of trading:
Finally, these more personal trading books will put ideas in practice (read Taleb!)