The best way to start your trading journey is to learn everything you can about trading. Think about it, you’re getting into a pretty meticulous way of earning, where heavy analysis and strategy are required!
So if you’re a novice in the trading world, grab any opportunity you can to learn about the trade you’re planning to get into. You could attend seminars and webinars, join trading groups on Facebook, sign up for training, register for courses and even read some books!
Remember, trade, especially CFD trading can be a volatile place to start so you MUST start going crazy on new ways to learn, learn–LEARN! To help you out, below is a list of top CFD trading books all beginner traders should consider:
CFD Trading: Strategies for Hedging and Speculation by Rober M. Barnes
Speculating plays such a huge role in CFD trading, or in any trade in general. Getting more accurate speculations means getting a better payout, and that’s all thanks to a good trading strategy and a head full of knowledge.
So a good book to start off with is Barnes’ “CFD Trading: Strategies for Hedging and Speculation.”
Barnes’ book talks about hedging strategies and speculation in great detail. This book carries tons of tips, different kinds of approaches to consider, things to expect when trading as well as dos and don’ts. So this book is ideal for starting traders!
Contracts for Difference: Master the Trading Revolution by James Norman
Norman’s book will help you smoothly slide into the waters of CFD trading. This book covers aspects of the CFD trading introduction from start to finish. You’ll be able to get a gist of what CFD trading is, how it works, its fundamentals, strategies, its nature and so much more!
This book also covers an in-depth introduction to the basics as well as the advances in CFD trading risk management, trading psychology, strategies, hedging approaches and so much more! So this is a great book to consider if you know little to nothing when it comes to trading with CFDs.
CFD Trading Simplified: A Beginner’s Guide to Contracts from Difference Success by Jeff Cartridge
Another great book to consider as starting trading has to be this one! Cartridge’s book is aimed at beginners since it’s a book that simplifies the complexities of CFD trading as a whole. So don’t worry about not understanding a thing when reading, because this book is especially made for novice traders and is as simple as can be.
What you can expect is a comprehensive step-by-step guide that’ll help you get started on your CFD trading career. This will contain recommendations, tips and tricks, dos and don’ts and so much more!
The Naked Trader: How Anyone Can Make Money Trading Shares by Robbie Burns
A much more general take on trading, this book will tell you how you can effectively and efficiently trade and make money out of shares. So it isn’t exclusively for CFD trading but is very substantial and helpful since it covers concepts that can be applied to both shares and CFD trading–basically hitting two birds with one stone.
Plus you will definitely appreciate how it was written. The book comes off as very approachable, straightforward and simple to read. So basically it’s a book that’s perfect for starting traders in shares or CFDs!
Technical Analysis of the Financial Markets by John J. Murphy
Another book that isn’t CFD-centred is Murphy’s book on technical analysis and everything in between. So no matter what trade you’re in, this book is one to consider getting as a starting trader since it covers everything you need to know about technical analysis from its basics to its advances.
Technical analysis is crucial in CFD trading, the reason why this book made it to the list. So before investing, make sure to have a good foundation on technical analysis and a great way to start is through this book!
Market Wizards: Interviews with Top Traders by Jack D. Schwager
This book is one that’s great for train ride reads, a book to read while waiting in line, before going to sleep or even just during any leisure time. This book consists of interviews with successful traders, not only in CFD trading but also from various other financial markets.
This will give you a great insight into what successful traders did during their earlier years, what their tips and tricks are, what they recommend and don’t recommend, things they wished they knew sooner and SO MUCH MORE!
Basically, this book will give you a sneak peek into what goes on in a successful trader’s mind from what their mindset is, the strategies they use and more.
The Disciplined Trader: Developing Winning Attributes by Mark Douglas
This book is ideal for anyone trying to develop a stronger discipline when trading. Discipline in CFD trading is ESSENTIAL and without it basically does more harm than good. This will cause you to make irrational decisions, going out of strategy or even opening a position without a plan in place.
Douglas’ book will help you understand the importance of discipline, how TO discipline yourself, trips and tricks to apply, approaches to consider and many more. Good discipline can lead to better risk management and overall long-term success when trading.
Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude by Mark Douglas
Another book from Mark Douglas to consider! This covers all aspects of trading psychology! From discipline, confidence, mindset and so much more! Basically, it’s a self-help book for traders that lack these essential characteristics.
Expect this book to have a comprehensive outlook on trading psychology that’ll help you understand the mental challenges every trader goes through and also how to overcome them!
The Complete Guide to Contract for Difference: How to Make Money from Shares, Commodities, and More by Keith Tan
This book by Tan covers an extensive range–an overview of everything you need to know about trading shares, commodities and pretty much a lot more. This made it to the list because it also covers a good chunk of CFD trading.
Trade for a Living: Psychology, Trade Tactics, Money Management by Alexander Elder
Last but not least this Elder’s take on trading psychology! This book covers everything you need to know about trading psych, money management, technical analysis and much more. Plus this book isn’t only for beginners but for all levels of experience. So this book will still come in handy later on in your journey.
Take away
Now you know 10 great CFD trading books to consider getting, use your new-found knowledge for good and get at least one, two or more from this list! Remember, CFD trading can be a pretty risky trade to get into so it’s best to arm yourself with knowledge before investing.
These publications can offer insightful information, but successful CFD trading requires both real-world experience and continual education.
