If you want to become really successful at forex trading, you’ve got to trade like the pros do. And that’s why it’s important to read helpful books every once in a while. In this write-up, we’ve shortlisted the top 10 books for forex traders. Read on.
- 1. Currency Trading for Dummies
- 2. Japanese Candlestick Charting Techniques
- 3. Forex Trading: The Basics Explained in Simple Terms
- 4. The Disciplined Trader
- 5. How To Start A Trading Business With $500
- 6. The Black Book of Forex Trading
- 7. Day Trading and Swing Trading the Currency Market
- 8. How to Make a Living Trading Foreign Exchange
- 9. Reminiscences of a Stock Operator
- 10. MT4/MT5 High Probability Forex Trading Method
- Final Words
1. Currency Trading for Dummies
Authored by Brian Dolan, this is one of the best fx books to read if this is your first-time trading or investing. It contains all the details you need to build and consolidate a winning strategy. One thing we like about it is that it brings together instructions that are packaged in an easy-to-learn manner.
Even though the book was originally published in 2011, it remains relevant all thanks to the updates from the Forex.com team.
2. Japanese Candlestick Charting Techniques
Steve Nison, the author of this book is not your ordinary wannabe trader. In fact, he is often described as the father of modern candlestick charting. His masterpiece provides detailed education on candlestick charting along with details on hedging, futures, equities, and speculation.
If you have ever wanted to make good use of technical analysis in your trading life, this is definitely a book worthy of your attention.
However, we’d like to warn you that this book is quite technical. So, if you’re into fundamental analysis, it might not be an easy read. But if you’re into technical analysis, it’s worth the read.
3. Forex Trading: The Basics Explained in Simple Terms
Have you been considering getting started in Forex but have no clue where to start? Well, this publication by Jim Brown might be worth your attention. Jim has more than 17 years of trading experience and claims to have tried almost every other popular trading method out there. His rewarding experience as a trader makes him a confident tutor especially for anyone looking to learn the basics.
That said, there are some who think that the details covered in this program are quite basic. Therefore, if you’re already familiar with these and are looking to expand your skills, you might want to go for a more advanced book or course.
4. The Disciplined Trader
Is there anything that’s important as self-discipline when it comes to trading? One minute the markets are moving in your favor and before you know it, the odds shift against you and you’re in the red. Indeed, trading can be an emotional roller-coaster and that’s why we think that Mark Douglas’ book is worth checking out.
Inside this book, Mark trains you on good psychological control. Indeed, you’ll also be exposed to a rigorous self-examination journey which will help you overcome fear.
5. How To Start A Trading Business With $500
There are so many entry-level Forex books available out there but none of them comes close to what this one by Heikin Ashi Trader has to offer. First, if you’ve been trading for quite some time, chances are that you are already familiar with the Heikin Ashi strategy which is quite useful for predicting future prices.
The “How To Start A Trading Business With $500” is authored by someone who uses this very same tool to make huge returns. And the best part is that he guides you on a step-by-step journey on how you also can get started on a small budget.
To us, this book makes a lot of sense to entry-level traders who might be wondering whether they have a winning chance in a world dominated by the Wallstreet Fat Cats.
6. The Black Book of Forex Trading
This book’s title tells it all. You see, there’s a lot of stuff that happens behind the scenes causing the markets to move. Successful traders are ones who are able to get the hang of these behind the scenes occurrences.
Indeed, this book by Paul Langer teaches you the macroeconomics bit of forex and also highlights the international monetary dynamics of both technical and fundamental analyses.
So, irrespective of which method you settle for, this old book has what it takes to make life a lot easier for you.
7. Day Trading and Swing Trading the Currency Market
The Managing Director of BK Asset Management is probably one of the most sought-after forex analysts globally. Educated at the New York University Stern School of Business, Kathy Lien has been running a successful career on Wall Street for more than 2 decades now.
It’s no wonder her book “Day Trading and Swing Trading the Currency Market” is quite popular. In it, she provides actionable insights on the use of technical and fundamental strategies. Most importantly, she details out the short-term and long-term factors affecting currency pairs.
8. How to Make a Living Trading Foreign Exchange
For those who are still on the fence about trading, this book is worth checking out. The author, Courtney Smith provides you with awesome trading strategies that you can use to make money even when the markets are tough. Smith also shares a strategy aimed at doubling profit generated using a simple channel breakout system.
9. Reminiscences of a Stock Operator
Edwin Lefevre’s book reminds us of Jesse Livermore who’s one of the most productive traders of all time. In this book, Edwin walks us through the journey of one Mr. Livingston who moves from being financially broke to amassing unbelievable wealth over time. This is a book that’s all about recovering and rising from the ashes. So, if you’ve been on a loss-making streak and looking for inspiration, be sure to give Edwin’s book a shot.
10. MT4/MT5 High Probability Forex Trading Method
A seasoned expert in momentum indicators, Jim Brown provides you with the latest insights from the financial world. What’s more? He equips you with 75 useful graphics that provide you with useful information regarding the merits and demerits of different technical indicators used today.
If you’re a MACD trader, this book is sure to provide you with the inspiration you need to make the most of MACD divergence also. It’s no wonder the publication ranked as one of the best-selling Forex books in 2018.
So, there you have it. The complete list of some of the good forex trading books we could find out there. We hope that you’ll be able to pick one of these 10 and that you’ll see your trading life change for the better with each chapter you peruse.
Blake is a self-made online day trader with a knack for adventure. On his free time, he loves reading and learning new methods in the trading as well as improving his jiu-jitsu skills. He currently resides in New York City.