5 Forex Books For Every Currency Investor

5 Forex Books for Every Currency Investor

5 Forex Books for Every Currency Investor: A beginner’s best way to start the journey as a trader would be by acquiring a lot of knowledge. And guess what? The prominent method is to read books. The market is full of forex books, but seeing the fast-moving pace of life today, no one can read them all.

Thus, we shall help you spend minimum efforts and time on books but still get the most.

Here in this article, we would introduce you to a good-read list of forex books. Remember, these books are useful for beginners only. Moreover, every book would get you something new. At last, we would conclude the post.

5 Forex Books For Beginning Forex Traders

1. The Disciplined Trader

If you think that attitude has no role play in the trading ground, then here’s an eye-opener for you. This tremendous work by Mark Douglas is one of its kind. Most books on the list are related to theories, research, case studies, tools, strategies, techniques, etc. but this publication emphasizes the importance of being disciplined during emotional stress.

He further argues it might be possible that a trader with little knowledge and skills can win, but one with no control over his psychological levels will never be a winner. Moreover, this book would start with telling you that having mental control is more complicated than it sounds, and will give you tips to control the same. One will also be able to track his trade performance and minimize their risk level after reading it.

Mark told that this book is a result of all his losses which he had because of his pathetic trading decisions. And, once he lost everything, he documented his transactions and found the ’emotional’ issue.

At last, you can have all the best tools in the world, but without the right attitude, you have nothing!

2. Currency Forecasting

Everyone knows that price anticipation is the gist of forex trading. Thus, here’s another beautiful book for beginner traders. Currency Forecasting is written by a long term analyst of Merrill Lynch, i.e. Michael Rosenberg. Most traders still prefer this 1995 book because of its simple, brief, and logical language.

Michael used his long-time skills in this book and combined macroeconomics and monetary dynamics of international forex trading. It helped in consolidating the fundamental and technical analysis in simple language and therefore, in predicting forex prices.

It should be a must on every forex trader’s checklist!!!

3. Japanese Candlestick Chart Technique

Candlestick charts hold an exceptional place in the hearts of traders. This popular tool helps traders get more information in small candles. One can see the closing price, opening rate, and market behaviour in a single candle. Thus, you can understand the significance of this tool.

This master book by Steve Nison would help you understand the charts easily and how you can combine this tool with other technical analysis indicators in the price pattern.

Steve is accredited with launching the candlesticks among the traders, and now it is used by every market trader, whether stocks, forex, CFDs, or commodities. Nison, who was also working in a similar field, made it then famous in the west and have written several other books after the success of this book.

4. Day Trading & Swing Trading the Currency Market

Day trading and swing trading the currency trading, technical & fundamental strategies to gain from market moves, is one of the best selling intra-day trading books ever. This masterpiece is written by a well-recognized market analyst, Kathy Lien. You must have seen her on Bloomberg and CNBC as a guest.

Moreover, she is also the MD of BK Asset Management Company.

One would be able to get the best learning experiences from her from this book. This publication is a perfect balanced approach that uses both fundamental and technical forex approaches.

Further, you would get some right hand on fundamental factors that influence forex prices, short and long term both.

5. Trading in the Zone

Here is another master publishing by Mark Douglas. Again, the focus is on a trader’s emotional aspects, but it would help you by providing techniques to control your psychological pitfalls. Feelings like fear and greed are common among traders and overcoming them is the first step, according to Douglas.

Further, you would also know the ideal psychological features required to be a successful investor and the ways to develop them.

Mark, working as a trading coach and consultant for years, introduces the ‘Thinking Strategy’ and the five elements which consistent winners always have in common. He argues that the trade market doesn’t work on what seems right or wrong; instead, it operates within the probability dimensions. Thus, one should think of ‘even’ and ‘odds’.

Conclusion – Forex Books

Confused which book to start first? Anyone, it doesn’t matter!!! But start!

As we said, reading is the first step. However, only reading is not enough. When you are learning from books, start practising alongside too. It would help you practice and learn the things practically also. After all, the real world is significantly different from the textbook world.

Moreover, people take trading a bit too seriously. If you spend your time with the right material with dedication, then it is less effort than you think.

At last, we would say, read, research, analyze, and strategize. These are the critical elements of being a winning trader!

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