Forex Trading Books

If you are thinking about venturing into the Forex, then our sincere advice is that you should educate yourself before making your move. There are many Forex trading books available in the market to help you learn on the subject. We are discussing a few hot favorites to help you with your choices.

Mastering the Trade

Seasoned trader John Carter shares his five point strategy for swing trades in this book. He also takes you behind the scenes and explains the market mechanics in a lucid manner so that you don’t feel lost. This is a comprehensive book for all kinds of traders. It dives deep into the psychology of a trader and at the same time it also vividly explains all the technicalities of the trade. It tells you which trading system suits which specific market, how to control losses and how to overcome the emotions by providing valuable market insights. It is certainly a must read for the rookies.

Day Trading the Currency Market

Renowned strategist Kathy Lien, who works for the number one online currency broker, teaches you various profit making strategies in the currency market in this book. It tells you all about the forex market, its major players, currency pairs and their behavior. Very useful intraday trading strategies are discussed in this seminal book, which are derived from the Four Week Rule of trading (which tells you how to identify new highs/lows and how to enter the market with emerging trends).

Technical Analysis for the Currency Market 

This is another book that suits the beginners because of the remarkable simplicity exhibited by the author in explaining critical concepts. Technical analysis is important in high risk trading businesses and this book shows how to use classic technical analysis tools in tandem with your market knowledge and emerging trends to expand your profit making possibilities.

Survive and Prosper in the Great Depression of 2009-2012: A Step-By-Step Guide to Amassing a Fortune Trading Foreign Currencies 

An interesting book with an immediately eye catching title, it tells you how to hedge your risks in these volatile times by venturing into the forex market. It spoon feeds you the entire process from finding your broker to spotting profitable trade setups and makes it look like a child’s play.

There can be many other forex trading books dealing with every aspect of the trade. But the advice is not to overdo it and get confused. Pick a couple of them and learn thoroughly. If you are more inclined towards psychological aspects you can go for the ones like Nassim Nicholas Taleb’s Fooled by Randomness which explains how randomness very often misleads people in the market. But whatever you pick, make sure to read it by heart before jumping into the arena.