We may receive compensation if you visit partners we recommend. Read our advertiser disclosure for more info. The world of foreign exchange, or forex, can be daunting even to experienced hands-on investors. However, there are plenty of books on the subject of currency trading , ranging from basic introductions to the forex market to advanced strategies based on fundamental analysis and technical analysis. These are six of the best that have stood the test of time and the forex market 's ups and downs.
Currency Trading for Dummies is one of the best of the lot for beginners. It presents clear, easy-to-read instructions on currency trading and descriptions of the forex market. In fact, it's not a bad read for more seasoned hands who need a quick refresher on the basics. It's regularly used as a resource by the financial media. Originally published in , the updated book was co-written by Brian Dolan, former chief currency strategist at Forex. Now in its third edition, her book employs a two-pronged approach that combines theory and actionable learning with balanced insight into the fundamental and technical forex trading strategies designed to generate regular profits.
Lien walks readers step-by-step through Forex fundamentals such as the long- and short-term factors affecting currency pairs. She also covers the technical analysis trading strategies that professional forex traders use on a daily basis. Steve Nison's Japanese Candlestick Charting Techniques is credited with introducing this versatile technical-analysis tool, now widely used by forex traders , to the Western world.
The book provides a lengthy and in-depth education on candlestick charting, which is also used for futures, speculation, hedging, equities, and anywhere else that technical analysis may be applied. Nison's work is ideal for traders seeking to up their trading strategies game. So, it means that you can trade Forex while reading the book and observe your progress over time. One of the reasons why SWAT Guide: Degree Trading and Analysis is one of the must read books for Forex traders is the fact that it offers from A to Z coverage of all the key concepts throughout its pages.
It is suitable for all kinds of traders with various experience levels ranging from beginner to intermediate to advanced traders. The e-guide is available worldwide and costs between 24 to 26 Euros depending on where you purchase it. It is your top option if you want to easily grasp the ideas behind the following concepts in Forex trading:. The Black Book of Forex Trading is one of the top 10 books for FX trading written by Paul Langer, an experienced and recognized full-time trader with over eight years in the industry as a professional.
Paul Langer has his unique trading style distinguishing him from other experts on the market. He trades based on Price Action with simple technical concepts that could easily be applied to contemporary standards of Forex trading. He runs a specialized blog dedicated to Forex, its market fundamentals, big trends, and complex concepts. Paul has been a special guest to numerous financial podcasts and other specialized blogs, as well.
The Black Book of Forex Trading is currently an Amazon best-seller claiming a dominant position among the best books for Forex trading. The book provides an insight into a proven method to become a profitable Forex trader in less than a quarter of the year 4 months while remaining financially free.
It teaches the upcoming traders how to overcome the fear of failure and how to remain pragmatic while entering this highly dynamic industry. The Black Book of Forex Trading mainly targets beginners and intermediates who seek to get the necessary tools for robust tactics and strategies. This is why it is a decent Forex strategies book, as well. The book is not as massive as the previous one we have discussed. It contains over 80 pages and is divided into three main parts.
Despite its small size, this book has brought incredible recognition for its author who has won an FXStreet award in for best analysis and received another educational award in at the UK Forex Awards. You can get either a print version on Amazon for 17 US dollars, a Kindle version for 2 or 3 US dollars, or look for free pdf versions online and on forums.
The Black Book of Forex Trading serves as an extensive handbook on how to enter the Forex market with lower risks, how to strategize for profitable trades and many other matters that traders are often concerned with. Among the various topics covered in the book here are some of the main lessons that readers will be mastering at the end of the book:.
Forex — 3 Manuscripts is a classic! It is another Amazon best-seller recognized as one of the best Forex trading books for beginners, intermediates, or advanced traders seeking new outlooks and strategies on the currency market. The book was released in by Matthew Maybury who is pretty much a household name for traders with 20 years of experience in the industry. Matthew specializes in Forex trading, day trading, and options trading and runs his own website on the same financial markets, as well.
He is an official millionaire up to date and only recently decided to assist novices on the Forex market to follow his success in Forex trading. As of now, thousands of Forex traders have testified that the books and guidance of Matthew Maybury allowed them to become financially free and independent while trading Forex. All of them support the view that Forex — 3 Manuscripts is essentially leading the list of the best Forex books for beginners.
Since the author of the book has written everything from his own experience, his failures, numerous experiments with a lot of different investment strategies, it is extremely easy to understand his logic behind the recommendations and tips that he offers. The book focuses on the absolute fundamental components in preparation for an introduction to the 6.
As one of the best Forex books to read, this book explains how people should try to earn a certain amount of money over a period of time for specific events such as marriage or retirement. Following the forex market rules, one can make a profit margin of percent. The second section of the book discusses effective forex trading strategies for high profit and low risk. Using various strategies, one can become an expert in Forex. Furthermore, experienced traders can uncover a strategy that no one has ever heard of.
The book covers the following topics to help readers learn about foreign exchange:. It is not difficult to find the best FX books, but it is tough to find the one suitable for your knowledge, experience, and dedication. The Forex 3 Manuscripts is the perfect solution for traders with various backgrounds and knowledge in the trading industry who want to get access to tips, hacks, and professional advice from experienced traders like Matthew Maybury.
The book is pages long divided into two different sections. The print version of the book can be purchased from Amazon and costs around 9 US dollars, while the Kindle version is available at 5 US dollars only. If you are just getting started in the Forex industry, or already have experience as a trader but want to develop and enhance your trading skills then The Forex — 3 Manuscripts is one of the best Forex books pdf options you can get.
There is a complete version of the book available for the readers, as well. However, we believe that this short guide is comprehensive enough to provide an in-depth analysis of SWAT ideas and an understanding of the concepts in technical analysis. Well, the key difference between the full and this given shorter version is that the latter one focuses on the most advanced parts of the SWAT method, whereas the complete version covers basic and intermediate parts of it.
While the full SWAP Guide book is among the best books for Forex trading beginners, the shorter version is perfect for advanced and professional traders. One of the key distinguishing factors that this book holds against all of its competitors is the fact that it also covers how traders should utilize various trading software. Usually, using the trading platforms, such as MetaTrader MT4 and MT5 or automated trading terminals copy traders, trading robots is what confuses the beginner and sometimes even intermediate traders the most.
The ECS. SWAT guide explains how traders can analyze and comprehend price movements with greater context and in less time. The book is verified and recommended by numerous institutions from the Forex trading industry including the MyFXBook — one of the top Forex trading systems and Forex Peace Army — an ultimate hub of Forex traders, academics, researchers, and reviewers.
Even though the target audience of the book is extremely diverse and broad, it is still considered to be the most useful resource for advanced traders, Elliott Wave traders, and Moving average traders. Instead of the pages provided in the original book, traders can learn the main concepts in hundreds of pages less.
The book can be bought online for 15 Euros in a pdf version. The readers can download those eBooks directly at the official website of the Elite CurrenSea. Forex Trading Money Management System is one of the perfect books for Forex trading at any level of experience and expertise. The book is written by one of the most prominent Forex traders and Amazon best-selling authors Don Guy.
Don Guy has been trading for more than 25 years now. He has developed his own concept and strategy in Forex trading which he calls the Roulette Trader Money Management System. Under this system, Don manages to crush the Forex market with bigger profits and smaller losses. He wrote down his strategies and ideology to teach his readers to achieve the same success in the Forex industry. So even if you are not trading currency pairs and not interested in the best books for Forex traders, this particular one will still help you become a better stock trader, commodities trader, or even a crypto trader.
The Forex Trading Money Management System book contains a simple theory that uses a simple money management system to reverse the Forex market movement and supports profit optimization. This is a result of the automated profit locking mechanism, which is used in financial markets.
The cover page depicts how profit increases fourfold, and the maximum drawdown accounts for one-third of the total. Before writing about his unique trading systems in one of the best Forex books ever, he had to check their legitimacy. To test his theories, the author programmed his system into an MT4 trading robot in January He wanted to automate the entire system. His first live trading experience was with a straightforward trend-following trading strategy.
His account immediately doubled in less than 48 hours. It was the first time in his year trading history that he managed to accomplish such success. His trading robots still continue to generate healthy and consistent profits to this day. The book is 80 pages in length and is available in multiple online stores including Amazon. Since the best FX books free of charge is not a reality, readers have to purchase the book either in a printed version for 16 US dollars or order a Kindle version for just 3 US dollars.
The book covers the following topics and much more:. Forex books available online are very different from each other. Even the ones that we have listed above in the article are complete of different kinds. Some explain the basic concepts of Forex, some focus on advanced trading analysis and pricing charts, and others will provide unique and specific trading strategies that are deemed as profitable ones.
So how do you decide what type of the best Forex books for trading should you look for? Should you learn the Forex concepts in detail until you reach the advanced level or should you choose a single profitable Forex trading strategy and stick to it? Depending on your experience, knowledge, trading capital, trading goals, and the time that you have allocated to learning Forex you can make a choice. On the other hand, if you have time to dedicate to learning Forex you can choose between the two other books that we have presented — Forex 3 Manuscripts and The Black Book of Forex Trading.
One way or another all these 5 options represent the absolute best Forex trading books. Some people prefer online Forex courses and believe that it is the most optimal way for Forex education. Others will refer to forums for traders, YouTube tutorials, or extensive online resources such as articles to educate themselves. However, we believe that books are one of the most efficient and cheap ways to learn Forex trading for several reasons.
First of all, the pace at which you are learning is completely up to you. You can spend several days or several months reading and following a specific Forex book. Secondly, you can always get back to the chapters or sections of the book that interest you the most or confuse you to re-read it.
Finally, the advantage of reading the best Forex books over watching the Forex video courses is that you can highlight the text, concepts, or ideas that you find interesting in the book, make notes, or rewrite them as notes somewhere else. In any case, the choice absolutely depends on the type of learner that you are and of course the choice that you make when looking for the Forex eBooks and guides. Bottom line is that Forex books can be as useful or useless as other educational channels that you find.
You are the main decision-maker in the learning process and thus, it all comes down to your dedication and effort.
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Top 5 Books for Beginning Forex Traders · Currency Trading for Dummies by Brian Dolan · Day Trading and Swing Trading the Currency Market by Kathy Lien · Japanese. If you are looking to automate your trading, then “The Man Who Solved the Market” might be the best book. The top 10 forex trading books · Technical Analysis of the Financial Markets by John J. · Trading in the Zone by Mark Douglas · The Alchemy of Finance by George.