Lost Big on Adani Group Rout? These 3 Books Can Take You to Top 10%!

  • Market Overview
Aayush Khanna/Investing.com - Investing.com

Many traders have blown up their entire accounts in the ongoing Adani Group rout. A recent study conducted by the SEBI concluded that only 11% of equity F&O traders were net profitable in FY22, and a once-in-a-while situation like the current Adani Group fiasco is enough to throw many traders out of the game for a long time.

There are so many aspects of trading that go into making a successful trade. Here I would be giving you a brief on some of the best books that I’ve read in my trading journey so far, which have helped me immensely to stay consistently profitable.

The Disciplined Trader

The Disciplined Trader by Mark Douglas is all about trading psychology i.e the mindset you need to inculcate in order to become a successful trader. Many people have an illusion that you need to accurately ‘predict’ the market movement to make money in the stock market, but this couldn’t be farther from the truth.

The ability to hold on to your gigantic winners, cut your losses short, go through a losing streak without mental disturbance, etc. are all essential to becoming a consistently profitable trader. This book will help you to build your psychological resilience which is even more important when you have stocks that are cracking like the current Adani Group.

Supertrader

Supertrader by Dr. Van Tharp is a book that you must read if you aim to trade for a living. The book covers extensively on risk management aspects such as position sizing techniques. It tries to inculcate a holistic approach to trading, making the trader more systematic in his/her thought process, eventually leading them to treat trading as a proper business, not a gamble.

There would hardly be anyone who can match the teaching skills of Dr Van Tharp when it comes to trading, as he highlights and covers almost all the pillars of successful trading. Read this book over and over in case you are aiming to become a full-time trader.

Market Wizards

Polupar Market Wizards by Jack Schwager is one book that makes it to the list of almost every trading book recommendation. The book is a summation of interviews conducted by Jack Schwager with some of the finest traders/investors in the world who have made a fortune in the stock market.

An insight into their trading style, how they manage their risk, their mental setup, etc. can significantly help you to ramp up your game. After all, what’s better than getting a sneak peek into the minds of legendary traders? This book gives a very close experience of what it's like to be a multi-million-dollar trader. There are multiple books in the Market Wizards series, and all of them introduce you to a different trader using a totally different approach to making money. 

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  • Kanwal Malhotra @Kanwal Malhotra
    The authors must be minting money
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    • Aayush Khanna/Investing.com @Aayush Khanna/Investing.com
      Unfortunately, two of them have passed away.
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  • Vivek Purav @Vivek Purav
    Thanks sir for your efforts educating traders.
    Like 1
    • Aayush Khanna/Investing.com @Aayush Khanna/Investing.com
      @Vivek Purav It's important :)
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    • Vivek Purav @Vivek Purav
      Thanks. 👍
      Like 0

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  • Monty Sheth @Monty Sheth
    Thanks man. Appreciate the effort.
    Like 1
    • Aayush Khanna/Investing.com @Aayush Khanna/Investing.com
      Thanks, Monty :)
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  • Gourav Verma @Gourav Verma
    thanxx
    Like 1
    • Aayush Khanna/Investing.com @Aayush Khanna/Investing.com
      You're welcome, Gourav
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  • namami ghosh @namami ghosh
    thanks for introducing us to these books...
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    • Aayush Khanna/Investing.com @Aayush Khanna/Investing.com
      You're welcome, Namami :)
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  • Aditi Chintakindi @Aditi Chintakindi
    Sir, any books by Indian Authors please..
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    • SUNIL GOYAL @SUNIL GOYAL
      Search Mahesh Chandra Kaushik , he writes in Hindi. Or go to sensibull and Zerodhaversity good colllection is there
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    • SUNIL GOYAL @SUNIL GOYAL
      You will gain huge knowledge if timely read Ayush Ji blogs .. and implement them with your own wisdom and wits
      Like 1
    • Sanjay Pote @Sanjay Pote
      Five waves to financial freedom by Ramki Ramakrishnan.
      Like 0

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  • SUNIL GOYAL @SUNIL GOYAL
    Excellent advise . i am already reading Market wizard and also the Trading Zone. Thank You Ayush !
    Like 1
    • Aayush Khanna/Investing.com @Aayush Khanna/Investing.com
      Trading in the Zone is also a good one.
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  • Shree Hari @Shree Hari
    🤝🤝🤝
    Like 1

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