In the next few minutes, I am going to share with you the top 20 books every Forex Trader should read. But before we begin, it’s important to understand that one of the most powerful tools that has assisted many Forex traders to find their footing in the Forex market is books, yes, you heard me right, because to be successful in Forex, you must read, learn, develop a strategy and apply those strategy in your trading.
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Please note: the selection of the top 20 books every Forex trader should read is influenced by research and interaction with top Forex earners, there is no affiliate attachment to any of the book in this list
Trading mindfully is the best way to ensure the success of your forex trading business. But you cannot trade without knowledge. In forex trading, you need to be knowledgeable on recent forex trade performance history. It will help if you heard a word from the pundits who’ve had their successes on forex trade.
Learning is a continuous process. The book is a return ticket to the knowledge discovered. Thus, it is an essential tool in your forex content strategies. Reading Forex books will help you identify the strength and weaknesses you’ve had as a Forex trader. Forex books will give you an understanding of the Forex functions and underlying rationales.
“If you don’t like to read, you haven’t found the right book.” – J.K Rowling.
In the bucket list of every Forex trader exists a core goal. To be able to have success by making correct market predictions and decisions continuously. That is why today, I made a list of the 20 best forex books every forex trader should read.
These are the BEST books that will help enhance your forex content strategy. We all understand that the forex markets are affected by many factors . If you will read these books, you would probably be the 2030 Jeff Bezos of our time.
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Table of Contents
Top 20 Books Every Forex Trader should read
1. Market Wizards – Jack D. Schwager
Market Wizards is an informative book. It does not tell how to trade. But, be sure to find tips on how to manage risks.
2. Breaking The Habits of Being Yourself- Dr Joe Dispenza
Dr. Joe, in this book, writes about the desired reality. The books make you have positive futuristic visions and dreams. These expectations would encourage you not to settle for less. This book kindles feared emotions and helps to find the undesired part of you that you never knew. It is an eyeopener to the investors who are in their comfort zone.
3. Trading in The Zone- Mark Douglas
A very consumable book that you’d read over and over again, yet every time you’ll reread, your mind will learn something new. It is a kind of magical book yet written like any other book. It’s a book that sparks a sense of accountability in forex trading. It also provides mental nourishment to the faint of heart in forex trading.
4. Mental Game Of Poker- Jared Tendler M.S with Barry Carter
A book that would provide you with skills to cope with varying trends in the forex markets. It is teachings based on a mental game, poker. This book leaves the reader instilled with a positive mentality of making right and bold decisions in the foreign exchange market. A must-read for every forex trader.
5. Technical Analysis of The Financial Market- John, J, Murphy
This book is recognized as the bible of Technical finance. The knowledge in this book never grows old. Even with the technological developments happening in the market, the book is still helpful as some of its strategies work efficiently. It offers a solid introduction to financial analysis.
6. The Art and Science of Technical Analysis- Adam Grimes
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Technical analysis is considered an art as well as a science in this book. This book believes that pattern prices are caused by buying and selling pressure in the forex markets. The beliefs in Technical analysis as an art and science is supported by extensive statistical analysis with examples such as the Fibonacci analysis
7. Reminiscence of A Stock Operator. Jesse Livermore- Edwin Lefevre
This is a story based on the true life of Jesse Livermore. This book urges traders to stick to their strategies lest they lose. The persona in this book depicted as Larry Livington Made money and shifted his attention to other people’s strategies. Something that made him fail. He gained back all his money when he came back to stick to his strategy. Its emphasis is on consistency in forex trading.
8. Currency Forecasting – M. Rosenberg
Rosenberg Teaches forex traders how to foresee currencies prices. It is possible through analyzing the balance of trade, purchasing power parity etc. The book also explains the effects of interest rates, fiscal policies and central banks. It also illustrates the currencies trading methods.
9. Japanese Candle Stick Charting Techniques-Steve Nison
Are you having problems understanding what the candlestick may be telling you? The Japanese candlestick charting techniques offers the best pattern specifics.
10. The Disciplined Trader- Mark Douglas
Just from the title, the book arms the reader to teeth with morals in forex trading. It helps develop a professional trading mentality. It will teach you how to respect yourself as a trader of a higher rank. It is not worth missing.
11. Day Trade And Swing Trading the Currency – Market-Kathy Lien
This book provides a valuable overview of the forex trade. The book also goes further by providing fundamental tested forex strategies. The strategies in this book are actionable. This book can help you enter a high marketplace and exit with maximum profits.
12. Forex Trading-Jim Brown
It contains words from the horse’s mouth. Jim Brown is a self-taught successful forex trader. Jim offers his own trading strategy that can serve as a template to novice forex traders. His knowledge has evolved from the start of manual charting forex trade to the technology-oriented forex trade.
13. Pit Bull- Marty Schwartz
A book worth laughing at while reading. Buzzy, Entertainingly brings out the bad sides of a negative-minded money manager. It is a sort of an emotional roller coaster ride that takes you through the hardships of Marty Schwartz. It illustrates the cruelty in the trading world. In other words, You need to know yourself very well before you enter into trade.
14. Trading for a living-Alexander Elder
This book informs you of the mistakes you are likely to make as an amateur in trading. It recognizes the traps of a gambling feeling that new forex traders have. A mindset that makes them deviate their focus from building their strategies in forex trading.
15. One Up On Wall-Peter Lynch
The writer has the correct choice of words. He induces humor while invoking fundamental teachings. A humble beginning story. A great inspiration for the poor in society. Lynch teaches how to take advantage of limitations to institutional investors to grow yourself in an upward manner as an individual investor. That way, you’ll become a “one upon the Wallstreet.”
16. When Genius Failed- Rodger Lowenstein
Based on past financial crises, Rodger Lowenstein puts forward what mistakes and successes long term group managed itself effectively. He writes about what transpired in wall street that led to its rise and fall. He puts in simple terms the complicated trading structures that existed. An excellent story worth reading.
17. How I Made Two Million Dollars In The Stock Market- Nicolas Darvas
A classical stock market story today. Darvas through a unique box system. It tells of how he gets big profits from buying and selling stock. He initially had invested in them when they had risen and were in their 52nd week.
18. The Black Book Of Forex Traders- Paul Langer
A book with simple nuggets that would help you stay safe in the forex market. This book hits right under the belt as it gives tips on how to stop losing money invested. It also teaches how to cope with emotions that arise in Fx trading. A good read indeed.
19. Come Into My Trading Room-Alexander Elders
This book is mainly divided into three parts:
• Money management
• Mind management
• Method management
.It recognizes the tendencies of short-term trading, which are very frequent.
20. Naked Forex- Alex Nekritin, Walter Peters
The naked Forex book covers the three myths of forex trading;
• Successful trading being indicator based
• For a successful trade, Complexity is overlooked.
• Successful trading is dependent on the trading system.
The book focuses on naked forex as being in liberation to give a chance to traders to focus on markets instead of indicators.
Conclusion
All these books give different nuggets of Forex trading knowledge. It’s wise if you’d consider taking notes from them. Remember that learning is a continuous process. The forex market is very dynamic and vulnerable to many economic crises. These books give you an insight into what the successful leaders of the forex markets plan and think. Make sure you stay with any up-to-date version of the listed books. This will help you strategize well and make the next billion-dollar step in the foreign exchange market.