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 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. Rosenberg, then managing director of international fixed-income research at Merrill Lynch, wrote one of the definitive works on forex trading. It was first published in , and ever since, analysts and traders have turned to his concise, intuitive, and brainy text.
It combines the macroeconomics of foreign exchange and international monetary dynamics with fundamental and technical analysis. Rosenberg's ability to delineate clear connections between disparate financial and economic factors continues to make Currency Forecasting a go-to guide for currency traders. 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 strategy game. Courtney Smith begins How to Make a Living Trading Foreign Exchange with an introduction to the world of forex that explains how the market works.
23 Useful Forex Books for Both Novice and Advanced Traders
But most of this work is devoted to making money, offering six strategies to earn a steady income by trading. He also provides important risk management techniques as well as material on the psychology of trading. It includes an explanation of Smith's unique "rejection rule," a strategy designed to double the profit generated from basic channel breakout systems. As the title indicates, this book is oriented toward giving beginners the basics.
The author is a self-taught forex trader who became intrigued by currency exchange and its profits at a private gathering for stock traders. The text stands out for Brown's clear, concise language that, without being condescending, never takes the reader's knowledge for granted.
Day Trading Books For Beginners
Some of the basics covered are:. This page of the best forex trading books is an antidote to this mess. I've done all the searching for you, and arranged only the best currency trading books by category, niche or audience, so that you can quickly find what you're looking for. Click on any title below to see the latest price from Amazon, you'll be shocked at how affordable the most popular titles are. As an Amazon Associate, I earn a small commission from qualifying purchases which helps to support this site.
This does not impact how I compile the list. Happy reading!
In These Ebooks You Will Learn :
Sign-up to Amazon's Kindle Unlimited free trial , which offers access to all titles for free for 30 days. If you're cost-savvy, you'll already be calculating the savings you could unlock and the knowledge you could gain by downloading 5 books over the next 30 days. Author Brent Donnelly has been a successful interbank FX trader for more than 20 years and in this book, he shares the specific strategies and tactics he has used to profit in the forex marketplace. Without doubt, the most consistently well-reviewed book on currency trading available online.
At date of writing, the Art of Currency Trading by Brent Donnelly has amassed reviews averaging 4. A wholehearted seal of approval from the forex trading community. Written by a real professional, rather than a day-trading amateur, Brent brings professionalism and academic rigour to this guide aimed at all levels of experience.
Currency trading has many benefits, but it also has fast-changing financial-trading avenues. Forex markets are always moving.
23 Useful Forex Books for Both Novice and Advanced Traders – Mageplaza
So how do you keep up? With this new edition of Currency Trading For Dummies, you'll get the expert guidance you've come to know and expect from the trusted For Dummies brand—now updated with the latest information on the topic. If you've spent time on Financial Expert, you'll recognise that I'm a fan of the ' Each is written by a specialist or in this case - 2 and aims to give a comprehensive oversight of an investing topic rather than dwell for too long on a specific strategy.
This makes them perfect for beginners. Currency Trading for Beginners allows any forex trading newbie to map out the forex trading world - getting to grips with the nature of the global forex market, how to trade, and what types of trading strategies are employed by speculators to make profits.
So trading guru Richard Dennis reportedly said to his long-time friend William Eckhardt nearly 25 years ago. What started as a bet about whether great traders were born or made became a legendary trading experiment that, until now, has never been told in its entirety. This is a truly compelling book about "The Turtles", a group of traders who decided to embark upon a highly unusual yet successful experiment to train two classes of newbies into elite-level traders.
The educational nature of the Turtles allows for a natural conversion into a trading book - with the lessons taught to the Turtles forming the basis of the content of the book. The financial instruments traded by the group were primarily commodity and derivative related, however I've featured this title in this forex trading book list as the lessons are highly transferrable between markets.
Aimed at the typical investor--such as the average CNBC viewer--this book shows investors how to follow the ups and downs of stock prices by visually comparing the charts, without using formulas or having a necessarily advanced understanding of technical analysis math and jargon.
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Murphy covers all the fundamentals, from chart types and market indicators to sector analysis and global investing, providing examples and easy-to-read charts so that any reader can become a skilled visual investor. In contrast to the above, The Visual Investor is a guide aimed strictly at existing investors who are already familiar with investing terms and most jargon.
This is the second book I feature on this ranking written by John Murphy, who I consider to be one of the god fathers of technical analysis. The job this book sets itself is to convert you from a reasonably knowledge investor into a knowledgeable day trader - capable of making predictions about short term movements in the stock market.
Compared to my 1 title Technical Analysis, this is a more accessible book which you'll find much easier to complete. The Price in Time presents a clear, powerful and well organized working method that will enable you to know exactly how to act once you enter the market. I wanted to feature a very recently published title on this list which gives a decent insight into detailed day trading strategies which have been used in The Price in Time by Gabriele Fabris fits the bill perfectly, offering several forex trading strategies which she claims work in todays market.
In a nutshell, this is an interlectual challenge which I've set at what I feel is the right level of difficulty to provide enough of a hurdle to encourage and incentivise you to keep up, but not so great a hurdle that the challenge is likely to fail. I challenge you to read one day trading book each month for the next 12 months! The idea behind the Financial Expert Best Forex Trading Book Challenge is that the more widely you read, the better forex trader you will become.
It's as simple as that.