10 Best Books For Forex Trading Education

Free $100 Forex No-Deposit Bonus

Trading isn’t an easy skill. It is a talent that you must learn to excel at. If you have traded before, you would know the basics of conducting such transactions. However, forex trading isn’t like trading commodities or stocks.

Forex trading refers to foreign exchange trading, where various techniques and fundamentals are used to generate gain. Forex trading is one of the most difficult skills to learn and you can’t simply begin with no prior knowledge. You need to have your information. That information must be accurate.

10 Best Books For Forex Trading Education

Getting up to date with forex trading education might cost you a lot. Books are a great way to self-learn in an affordable manner. What is stopping you from doing the same? Renowned forex traders have written books about their experience with forex trading. Some of them have even written guides with tips and tricks to master forex trading. Strategy matters a lot in this kind of exchange transactions.

Best Books For Forex Trading Education

Therefore, if you want to learn forex trading, it is best to pick up a book about it. Which ones should you begin reading? Here are 10 best books for forex trading education that you can use to be train yourself regarding forex trading.

1. Currency Trading For Dummies – Brian Dolan

The first step in forex trading is to know all the basics. If you’re absolutely new to forex trading, this should be your go-to. The author, Brian Dolan, was the chief currency strategist at Forex.com who co-wrote the book with Kathleen Brooks. Kathleen Brooks was the research director at the same place.

This book has clear and the simplest steps on beginning forex trading. If you’re not new in the industry, it can even help you. It is often used by professionals to brush up their basics if they’ve been out of touch for a while.

2. Forex Trading: The Basics Explained In Simple Terms – Jim Brown

Jim Brown has been a forex trader for a significant number of years. Because of his experience he was able to write many books to guide other forex traders as well. If you need a book on forex trading education, this one contains all the basics that will help you begin.

In simple terms, the book covers some main topics about forex, the benefits, and choosing brokers etc. Later on, the book expands into more detailed topics like various strategies for entry and exits. These topics are alongside trading psychology for foreign exchange and the structure of the system. It is very effective in building a forex trading strategy.

3. Japanese Candlestick Charting Techniques – Steve Nison

Candlestick chartings are an important part of forex trading. If you have been in the field for some time, you must already be aware of this term. Steve Nison authored this book in great deal with relation to this topic. It covers an in-depth analysis and techniques for candlestick charting techniques.

A major part of forex trading strategies can emerge from studying candlestick charting techniques. This book is the perfect guide for it and can help expand your knowledge in this area of trade.

4. How To Start A Trading Business With $500 – Heiken Ashi Trader

You don’t need to have thousands or millions of dollars in worth to begin forex trading. You begin your trade with an amount as low as $500, and this book proves how. Heiken’s book is at the foundation of money management skills required for a broker.

It is the perfect forex trading education book if you have a limited capital budget. Work on your communication skills, build trading habits, and learn the tricks to work in the market. Soon enough you’ll find yourself to be a professional at forex trading.

5. The Disciplined Trader – Mark Douglas

Forex trading isn’t all about technical and fundamental analysis as most people believe it to be. Sometimes, it has a lot to do with trading psychology. Mark Douglas understands that and has included the very basis of it in the book.

Traders who win at psychology can use the book to apply their knowledge on the stage of forex trading. Emotions can play a major role in determining if you trade at a profit or a loss. ‘The Disciplined Trader’ is a great read for people who want to explore this side of forex trading.

6. Technical Analysis Of The Financial Markets – John J. Murphy

Technical analysis is extremely hard to master in forex trading. It is a skill that comes with immense practice and a strong knowledge of the basics. Murphy has covered all that one needs to know to get a hold of the forex market.

With basic technical analysis foundations, the book also includes advanced topics. Along with this, it has visual representations in the form of various charts to help people get a more hands-on experience.

7. Currency Forecasting – Michael Rosenberg

Another great book on technical analysis has to be ‘Currency Forecasting’ by Michael Rosenberg. Rosenberg worked at Merrill Lynch as an analyst and shared his trading wisdom in the book.

It covers all the dynamics that are required for forex trading. Sometimes the connection between fundamental and technical analysis is difficult to make, the book easily aligns both the concepts. For forex trading education, this book can give you great insight in the predictors of the currency market.

8. Trading In The Zone – Mark Douglas

Mark Douglas has emphasized on the psychological importance of forex trading. This is another insightful read that covers the topic. Apart from describing or merely talking about the psychological influence, this book also teaches techniques of control. These techniques are a great help when it comes to monitoring and controlling your emotions for trading.

This book focuses on the additional need of psychology as compared to the only need. It elaborates that these help you stay on track with your strategic plan instead of going off on a tangent. Your strategy will be enhanced with the use of this book.

9. Day Trading And Swing Trading The Currency Market – Kathy Lien

The author of this book is a globally acclaimed currency analyst. She has served and contributed to the industry of forex trading through various renowned companies. These would include Bloomberg, BK Asset Management, CNBC, and Reuters. With a revision made in 2016, this book is the best you can get as a forex trading education.

Her book covers multiple advanced topics, therefore if you are a newbie, try to catch up first. Apart from simply covering the theories for currency trading that relate to technical and fundamental strategies, the book has more to offer. It talks about interest rate differentials, and other market relationships that affect the currency. It is relevant and effective.

10. Market Mind Games – Denise Shull

Ending the list of the 10 best books for forex trading education is ‘Market Mind Games’ by Denise Shull. As the name of the book suggests it has a lot to do with forex trading psychology. However, unlike all the other books listed in this article, ‘Market Mind Games’ is fictional. While it is fictional, it has all the details you would need to learn about the practical implications of various strategies.

This book is a great way to get your mind worked up on all the details of the forex trading. It is recommended that you read this right at the last when you’re done reading up on forex trading. Why? This is because once you know the basics and the analytic strategies of forex trades, you can use your knowledge. You can apply your knowledge to actively spot all the techniques as well as analyze on your own terms as well. This is very helpful as a mind exercise for forex trading.

These were the 10 best books for forex trading education. However, it is important to mention a few honorable mentions. They would have been part of the list but were overtaken by the above noted books. One of these honorable mentions include the book, ‘Momentum, Direction, and Divergence’ written by William Blau. This talks about unique and distinct trends that can help you do well with forex trading.

An additional mention would go to the book by Barbara Rockefeller titled as, ‘Technical Analysis for Dummies’. It is an all-in-one book for beginners in the forex trading field. It covers all kinds of investment strategies, as well as market and portfolio performances. If you want to get started with forex trading and the books mentioned aren’t available, get your hands on this. It will add great value to your skillset.

With these books you would be able to enter into forex trading with confidence. Your trades will look profitable when they can if you apply the correct strategies at the right timing. The important thing is to consistently stay on top of the market trends. With enough practice, that will not look as hard as you think it is. Grab one of these books are start a reading marathon. They are the most recommended for a reason.

Copyright © 2020. All Rights Reserved. FXDailyReport.Com
Risk Warning: Trading CFDs is a high risk activity and you may lose more than your initial deposit. You should never invest money that you cannot afford to lose. FXDailyReport.com will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets.