Top 3 Penny Stock Books

Trading penny stocks can be lucrative yet risky at the same time. To maximum the chance of winning at penny stocks, one should constantly study how penny stocks work. After reading tons of trading books and penny stocks in general, here are a few penny stock books that I recommend for both penny stock beginners and experienced traders.

1. Penny Stocks for Dummies

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As the title stated, this is penny stocks for beginners. If you have never trade penny stocks in the past, this is the book that you should read. The book is written by Peter Leeds, and gives you a good guide on how penny stocks work and how to trade penny stocks.

2. Complete Beginners Guide To Building Riches Through The Stock Market

penny-stocks-for-beginners

This penny stocks book gives a good foundation of how penny stocks work and how to trade penny stocks for profit. You will learn about portfolio management skills, how to set stop loss and trade penny stocks during intraday.

3. Penny Stock: Trading QuickStart Guide – The Simplified Beginner’s Guide to Penny Stock Trading

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This is another good book about penny stocks. You will learn about the different markets in penny stocks. You will also learn the basics about how technical analysis and fundamentally analysis, and how they apply to penny stocks. However, the book is a little bit short, and doesn’t cover risk management which is an important skills to learn in trading penny stocks.

To be successful at trading penny stocks or stocks in general, learn how technical analysis work is a must. The following are the technical analysis books and trading books that I recommend.

1. Technical Analysis of the Financial Markets

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Learn everything you need to know about technical analysis in this book. This book is like the bible of technical analysis. The book is easy to read, even stock market beginners should have no problem following the examples, patterns and charts presented in this book.

2. Profitable Candlestick Trading: Pinpointing Market Opportunities to Maximize Profits

candlestick-books

Candlestick patterns are very useful in stock trading. The different patterns give bullish and bearish signals on stock charts. This is a comprehensive book on candlestick patterns. You will learn all the bullish patterns, bearish patterns as well as reversal patterns in this book with examples.

3. The New Trading for a Living: Psychology, Discipline, Trading Tools and Systems, Risk Control, Trade Management

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This is the newer version of the classic book, Trading for a Living written by Alexander Elder. This book is a must read for any trader. To become a successful trader, you need discipline, rick management skills and trading strategies. This book teaches you all of these skills.

4. Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude

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This is another great trading book that shows you the importance of discipline and help you develop winning attitude that is necessary for stock trading. Stock market beginners often neglect the importance of mental mindset, and focuses too much on a trading strategy. A strategy is never any good without a winning mindset.

5. A Beginner’s Guide to Day Trading Online (2nd edition)

day-trading

This is a beginner’s guide to day trading. If you have never day trade in the past, this is a good day trading book to get you started. Whether you trade stocks or penny stocks, its nice to pick up some strategies in day trading.