Forex books are a great source of information and guidance for individual investors intending to make a foray into forex trading. Once the forte of mainly hedge funds and large international banks, forex trading has expanded substantially and its online opportunities provide individuals with access to the currency market. The largest global trading market tempts them to also try to make money, and the education needed for this comes from some of the best books written on the subject.
Thousands of books are available on forex trading and hundreds have been bestsellers, and it is not easy to select the best ten out of them, which would provide complete guidance, define relevant terms, and give tips on the basis of personal experiences of the writer. From our perspective, the following books are the top ten written on the subject of forex trading.
The Top Ten
- Day Trading and Swing Trading The Currency Market by Kathy Lien- This book is an excellent starting point since it provides an introduction to both currency and swing trading, with explanations on successful fundamental and technical trading strategies.
- Getting Started in Forex Trading Strategies by Michael Duane Archer- This book is one of the easiest to understand and introduces readers to the Codex Method, which helps them evolve a forex trading strategy according to their own personal preferences. The author’s overview of the general trading strategies and his personal codex serve as the best foundation to initiate trading in forex.
- Mastering the Trade by John F. Carter- Mastering the Trade actually helps individuals master the art of forex trading by the valuable advice, teachings and experiences of the author. Added are unusual aspects like hardware and software needed for trading. As a valuable eye opener this book is a must read for novices and experienced traders.
- Way of The Turtle by Curtis Faith – This book is an essential part of the forex trading reading list, that explains trading experiments, trading methods, the various criteria to follow from the entry level to the exit point, and the way to book profits in forex trading. It is an excellent blend of trading psychology and trading techniques.
- Adventures of a Currency Trader by Rob Booker- This is perhaps the most interesting and gripping book on forex trading in which the author uses a fictitious character Harry Banes who becomes a successful trader from a mere file clerk. The story focuses on the trading bug that caught him and how he learns ways to achieve success.
- The Ten Essentials of Currency Trading by Jared Martinez – This book is particularly engaging and informative since the author shares his own experiences and lessons learnt while trading in forex, like key practices, developing personal and traders constitution and more.
- How to Make a Living Trading Foreign Exchange by Courtney Smith- This is a complete forex trading guide that makes every forex loser into a successful trader who makes guaranteed and continuous profits.
- The Candlestick Course by Steve Nison- This easy to understand book written in plain English explains the now popular candlestick charting concept used to identify price trends in forex trading.
- Trading for a Living by Dr Alexander Elder- This successful book on trading focuses on the three M’s, mind, method and money, and teaches how to make money by gauging the market sentiment, staying cool and collected and developing a powerful system of trading.
- 7 Winning Strategies for Trading Forex by Grace Chang- This book propounds the idea that the right trading strategy is needed for the right market conditions to be able to make money, and explains why the forex market is a viable trading field and needs to be understood, how to beat the odds and how to decide on the right entry and exit points to make money.
Whilst I would recommend all these books as must reads for all Forex traders, nothing replaces the real thing and the best training is face to face – check out Knowledge to Action and see how they can help you on your Forex journey.
