really successful at Forex trading goes beyond thinking like a beginner, you
have to trade like the experts do. This is why it is important to read helpful
books once in a while. Reading about a new investment you are about to venture
into is the key to being successful in such an investment. Hence, which is why Forex
books are the first step for traders in the Forex trading journey.
If you ask many experienced traders
about their journey in the Forex trading world, they would simply tell you that
it is a huge challenge as there are so many different terms, ideas and
strategies. Most of the experienced traders all started from somewhere and to
make your journey a smooth one starting with Forex trading books is a good
place to start. Thus, to understand the basics of Forex, it is best to go for a
Forex manual written by an experienced trader who explained everything in
simple terms. Getting the best trading guides can be quite difficult which is
why in this write-up we have shortlisted 10 top and Fascinating books for Forex
In order to choose the best Forex
trading boos, the following factors should be considered by traders:
Best forex trading
books should have a focus which should be on Forex trading. If it is not
directly focused on forex trading, then it is not a good forex trading book. A
good forex trading book should be concise and focused on the main topic which
is Forex trading.
A good forex book
needs to be written in easy and uncomplicated language to understand. It should
not be filled with ambiguous terms and complex analysis that might be difficult
for the reader to understand.
traders: A good forex
book should not be trader targeted or specific. This implies that it should be
a book that cover all types/levels of traders. It should cover topics for both
beginner, intermediate and advanced traders.
A good forex trading
book should feature either the experience of the writer or that of another
experienced trader for the reader to have a better understanding of what he
read in the book since Forex is more of practical than theory.
materials: A good
forex trading book should possess instructional materials provided by the
author such as instructional videos to help the reader know how to make use of
the trading method of the author.
8 BEST FOREX TRADING BOOKS 2020
1.Forex Trading: The Basics Explained in
Simple Terms (Forex, Forex for Beginners, Make Money Online, Currency trading,
Foreign Exchange, Trading Strategies, Day Trading)- Forex book for Beginners.
2.Forex for Beginners: What you need to
know to get started and everything in between – (Best Forex books for Beginners).
3.Currency Trading for Dummies Kindle
Edition- (Best Forex books for Currency Trading)
4.Japanese Candlestick Charting
Techniques: A Contemporary Guide to the Ancient Investment Techniques of the
Far East – (Best Forex books for Technical Analysis).
5.Trade your way to Financial Freedom –
(Best Forex books for beginners and Experienced Traders)
7.The Black Book of Forex Trading: A
proven method to become a profitable Forex Trader in four months and reach your
financial freedom by doing it - (Best Forex books for Forex trading strategy).
8.Reminiscences of a Stock Operator
Paperback – (Best Forex books for User-friendly)
We highly recommend looking at the comparison table below, where we highlighted the key features of each product.We highly recommend looking at the comparison table below, where we highlighted the key features of each product.
The Book was written to give beginners
an understanding of the basics of Forex. The book might seem less lengthy but
what it lacks in length it makes up for it in clarity. The book is well known
for its clear and concise language that breaks Forex into simpler terms. If as
a beginner,the Forex trading terms you have come across so far have been
complex and overwhelming, they should no longer be after you complete reading
this fascinating book. Furthermore, the author also provides a copy of his own
trading method and instructional videos on how to make use of it to help
beginners in their journey through the Forex trading world.
PROS & CONS
Explains how forex trading works in simple terms.
The book addresses trade management and position size for beginners.
The book is providing to you the strategy art of war
The book does not emphasize keenly on risk management which is important
The book explains everything from the
basics to the trading methodology which the author has used in all her trading
and investing with her years of experience. The author describes Forex for
Beginners as a “primer” to the world of Forex trading. This book focuses on the
concept of risk in Forex trading which is important for beginners to understand
in order to prevent frequent losses. To illustrate, the authorcategorizes this
concept into two main areas: The level of risk (high, medium or low) and the
financial risk. Also, this book helps you as a beginner to learn how to assess
and manage risk in Forex trading. It starts from the absolute basics and down
to the author’s own trading methods explained fully.
PROS & CONS
The book is 90% specific practical guidelines and only 10% on Forex
The book has a lot of good information for someone who has no prior
knowledge of Forex trading.
The author sticks to systems and methods that have worked for her
The book has poor chart images.
3.“Currency Trading for Dummies Kindle Edition" - by Kathleen Brooks and Brian Dolan
The book is easy to comprehend which
allows the Forex market to be easily accessible by the layman. It also contains
instructions that are well packaged and can be easily understood. Also, the
book is designed to explain the complex topics in a simpler and understandable
language for beginner traders. Again, the text is easy to read and broken down
into lists, bullets and breakout text boxes. Furthermore, the book also
discusses technical analysis in a simpler form that can help guide beginners.
PROS & CONS
The book provides tips and hints from professionals
The book covers the use of various type of orders
The book also covers economic events that can affect currency pairs.
The book lacked better visual of the charts and the diagrams in the
kindle format are not readable.
4.“Japanese Candlestick Charting Techniques" - by Steve Nison
This masterpiece provides a lengthy
and in-depth knowledge on candlestick plotting, analysis and charting, used as
well in futures, equities, hedges and speculation. The book explains to beginners
in expressive language the author’s years of practical experience in this
popular and outstanding approach to market analysis. It consists of hundreds of
examples that span the futures, equity, fixed-income and foreign exchange
markets and shows how candlestick charting techniques can prove effective in
almost any market. On the whole, it explains the basics such as constructing
the candlesticks and learning the patterns, to the advanced topics such as the
rules of multiple technical techniques. To sum up, the book teaches you how to
make use of technical analysis in your trading path.
PROS & CONS
The book provides an in-depth knowledge on many new candle patterns
The book is printed on high quality paper with big fonts and enough
margin making it easy to read
The book provides a proper insight into how candlestick charts are used
The book relies heavily on chart and chart on kindle format are
strenuous to follow.
5.“Trade your way to Financial Freedom" - by Van. K. Tharp
This book provides a beginner with a
realistic view of the market and how to trade it. The author ensured he pointed
out the essential factors that help a beginner trader to be successful in their
trading career. He also pointed out the common traps that newbies fall into and
also went a step further to explain why this happens.
PROS & CONS
The book covers stop-loss and how to take profit as well as position
The book gives readers perspective on how to look at trading in general.
The book stresses on money management which is important for beginners.
The writing style is too complex to read even for the simple concepts.
6.“The Disciplined Trader: Developing Winning Attitudes" - by Mark Douglas
one of the first books to address the psychological nature of how successful
traders think. The author examines the causes as to why most traders cannot
raise and keep their equity on a consistent basis and brings the reader to
practical and unique conclusions as to how to go about changing any limiting
mindset. The trader is taken through a step-by-step process to breakthrough
those queries and begin to understand that their very thoughts may be limiting
their ability to succeed at trading.
PROS & CONS
The book focuses on how traders can deal with their emotions to improve
The book is also good for stock traders who want to improve their
The book will help improve a traders trading principle and discipline
The book is not written in a concise manner and also had lots of
7.“The Black Book of Forex Trading"- by Paul Langer
The book highlights how a trader can
follow the success stories of other traders who have made it big in the
financial world but only few will understand the skills one learns after going
through failure. This book teaches you the macroeconomics bit of Forex and also
captures the international monetary changes of both technical and fundamental
analysis. In spite of the fact that the book is relatively less, it imparts
significantly irreplaceable knowledge and can be adopted under complex
situations for a long period of time. It gives you a simple yet powerful
blueprint to plan and get control of your financial plans and achieve success
in your trading.
PROS & CONS
Explains how to become a profitable trader in four months or less
The book will help the reader gain enough confidence to trade
The book provides sound advice on risk management.
The book is not a good reference to what beginners might want to know
8.“Reminiscences of a Stock Operator Paperback" - by Edwin Lefevre
“Reminiscences of a
Stock Operator” is a fictionalized account of the early life and rise to
fortune of Jesse Livermore, one of the most famous speculators in history.
Renamed Larry Livingston in this book, he gets his start as a young boy in the
"bucket shops" of Boston, where small bets are made against the house
on the rise and fall of stocks or commodities. Soon he graduates from quote-boy
to beating the bucket houses at their own game, until they throw him out for
winning too much. After that, he heads to Wall Street to try his hand at real
trading, with many dramatic gains and losses along the way. Livingston becomes
a force in the markets, which are not as highly regulated as they
become eventually. His tips on speculating and human nature fill the pages and
are still legendary among modern traders.
PROS & CONS
The book provides inspirational quotes that can help motivate the reader
The books makes learning fun by providing the personal experience of
The book has an indirect, conversational tone that ensures the readers
learn beyond the Livermore’s narrative
The book opens up with pages of quotes which can be discouraging for
Having theoretical knowledge of Forex trading without
practice is nothing. The reason for reading Forex books is to help improve your
knowledge on Forex as well as to help in improving your trading strategy. It is
therefore important that you put into practice what you have learned from
reading Forex trading books. The best Forex books mentioned in this article will help
improve your knowledge and help improve your success rate in Forex trading
despite your own strategy or prior experience in Forex trading. Traders should
also engage themselves in reading financial news, study charts, etc. as this
will keep them informed with the current happenings in the Forex market instead
of reading Forex books alone as a guide for practicing Forex trading.
Risk Disclaimer: Trading in forex, CFD, indices and commodities involves the possibility of financial loss. It may not be suitable for all investors. Only trade with money you can afford to lose. As a leveraged product losses may exceed initial deposits and loss exposure. Before deciding to trade Forex or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite. The content on this website is subject to change at any time without notice, and must not be construed as personal advice.