Foreign Exchange Market, Financial Markets, Books

Forex Trading Books

This is a great piece for new traders that need some guidance in their forex career. If you are a serious trader who wants to learn how to trade like a pro, then this book is for you. It presents many strategies and gives a good background for all the major currencies, explaining what makes them move. It covers fundamental and technical sides of the market, providing many charts for reference and increased understanding. Kathy Lien Speaks from experience and is well known as a fantastic analyst, strategist and trader, sharing her insight and methods with enthusiasm. It is easy to read and understand, giving you the opportunity to backtest her methods yourself.

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Risk capital is money that can be lost without jeopardizing ones financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading.

FOREX TRADING: The Basics Explained in Simple Terms

For this reason, I find books that cover trading from a higher vantage point much more useful and widely applicable. Yes, there are many good free resources you can use to teach yourself to be a profitable Forex trader, including YouTube, and this website. If you want to progress, you must be open to listening to the traders who accomplished what you want to accomplish.

Forex Trading Books

Bill Williams is known for creating several technical indicators to predict market movements with high probability. This book is a bit of a lighter read than the others and is very focused on the strategy and the story behind it.

#16 – The 10 Essentials of Forex Trading:

The order of the seven forex trading books below does not represent their ranking. However, note that the first four books are suitable for complete novices. As the last three books, read them after you’re more confident of your basic forex knowledge. When it comes to trading successfully and achieving consistent market-beating results, it is not about how much money you make but about how much money you keep. Many traders have streaks where they achieve exceptional interim trading results, only to witness a few quick losses evaporate those hard-earned pips.

  • For some reason, I couldn’t finish the paper version but loved the audiobook.
  • And if that didn’t give it away, this Forex trading book tackles the diverse and often overlooked topic of psychological management.
  • There are many good free resources to learn with, including this website.
  • Originally published in 2011, the updated book was co-written by Brian Dolan, former chief currency strategist at, and Kathleen Brooks, director of research at
  • It offers more than just a theoretical approach, providing a detailed analysis of the different techniques, alongside a step-by-step guide on applying them to your own trading life.

“The New Market Wizards” is another book of trading strategies but it is better in a way that its Profitability Analysis adjust to many different trading styles. The author has interviewed several successful traders and taken insider views on what it takes to trade efficiently. MetaTrader 4 vs. MetaTrader 5 Understand the differences between MT4 and MT5, as well as their features and benefits.What is Social Trading?

#4: The Sensible Guide to Forex: Safer, Smarter Ways to Survive and Prosper from the Start by Cliff Wachtel

Hopefully, our top 10 Forex Trading Books list will help you begin forex trading with the right foot so you can elevate your trading experience. Here are our recommendations of the top seven forex trading books you can read to start learning forex trading from scratch. Subsequently, one can test their knowledge and intuition by getting a practice trading account with an online foreign brokerage before actually putting money in the real market. The book outlines nearly everything anyone would want to know about trend following trading strategies. Such strategies could be employed in any market, including currencies. The book discusses why trend following strategies have stood the test of time and includes interviews with successful trend following traders. At well over 600 pages, it is an extended and thorough read, not a quick one.

It is aimed at intermediate and beginner traders who want to succeed with the help of forex trading. The entire book follows a simple format that is easy to understand even for people without any idea about forex. Scenarios the trader might have to face are also in the book, and that can help provide practical understanding. Day and swing forex traders looking to increase their knowledge and abilities may improve outcomes.

Top 16 Forex Trading Books [Updated 2023]

Bollinger can offer technical guidance while also dipping a little into trading etiquette. A part of the book explains that everyone should develop their trading strategy using the tools at their disposal and avoid copying other people.

The Western world first saw this flexible technical analysis method through Steve Nison’s Japanese Candlestick charting techniques, now frequently employed by forex traders. The book extensively covers candlestick charting, which applies to futures, speculation, hedging, and equities. Nison’s work is appropriate for traders looking to improve their trading tactics. Courtney Smith begins How to Make a Living Trading Foreign Exchange with an introduction to the world of forex that explains how the market works. But most of this 2010 work is devoted to making money, offering six strategies to earn a steady income by trading. He also provides important risk management techniques as well as material on the psychology of trading. It includes an explanation of Smith’s unique “rejection rule,” a strategy designed to double the profit generated from basic channel breakout systems.

The Logical Trader

The author does a brilliant job of expounding the basic framework of currency markets and presenting a clear and workable plan for traders to pursue. What brings added value to the work is its emphasis on utilizing several proven techniques and fundamental trading strategies that one might apply suitably by profiling a trading environment. This best Forex book is a comprehensive work that outlines Forex trading for seasoned and amateur traders to identify and utilize hidden opportunities for day and swing traders. Post developing the system, the author returned to Las Vegas with $20 and turned it into a profit of $500 in 1 hour, which it locked in from the automatic profit locking mechanism. The cover page will highlight how the profit is almost four times greater, and the maximum drawdown is only about one-third the size. A practical, must-read guide to candlestick charting techniques Japanese candlestick charting is a highly effective meth … Play the forex markets to win with this invaluable guide to strategy and analysis Day Trading and Swing Trading the Curr …

Forex Trading Books