March 24, 2022 0 Comments

The number one reason that I like The Disciplined Trader is that Mark Douglas has no formal training in psychology. Rather, Douglas “was trained in the only classroom that matters-the battlefield of actual trading. Even though this book was published in 1990 and there have been a plethora of trading-psychology books published since then, Douglas’ material stands out as an innovative classic. He just uses his own gift for seeing the mental shortcomings of the losing trader and spells out his own fresh insights on what we, as traders, need to do to experience real success in trading.

Instead, it’s a fable told through the eyes of a fictional character named Harry Banes. The book’s simple language makes the forex market accessible to the layperson. Author Kathleen Brooks serves as a research director at and provides commentary for CNBC, Bloomberg and the BBC.

Getting Started in Technical Analysis – Jack Schwager

It does not spoon-feed but it does force you to think and do your homework. Douglas starts the book out from a perspective that many traders can identify with-crushing defeat. Another book by Mark Douglas, “The Disciplined Trader” delves deeper into the psychology of trading. It explores the concept of self-sabotage and the importance of maintaining discipline and consistency in trading. The book offers practical advice and exercises to help beginners develop the right mindset for successful trading. When starting your forex trading journey (or any venture), it is imperative that you do thorough research before you even make your first real trade.

book about forex trading

This book offers some discussion of technical analysis that can also help beginner and entry-level investors. Lowenstein’s book tells the story of that crisis and the events that followed, focusing on the four key characters at the heart of the story. While readers are unlikely to garner any specific trading tips, it provides fascinating insights into the history of the Fed. The book includes practical tips designed to get the reader thinking and acting differently, maximising their chances of executing a successful trend-following system. In ‘The Alchemy of Finance’, George Soros explains his approach to trading and introduces ‘reflexivity’ – the theory that fundamentals can be influenced by prices. While this contradicts standard economic thought, Soros claims it has given him an edge over other traders during the course of his career.

Get a Forex Pro on Your Side

It is an eyeopener to the investors who are in their comfort zone. “If you don’t like to read, you haven’t found the right book.” – J.K Rowling. In this book, the author introduced many commonly requested products from FX options trading desks along with the models that capture the risk characteristics to accurately price these products. Foreign Exchange Option pricing is a great book as it provides a unique perspective from the point of view of the finance practitioner.

book about forex trading

The book also explains the market conditions that drove the development of the indicator, and three methods that can help traders make full use of it. 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.

Intermarket Analysis – John Murphy

Especially the interaction of Bollinger Bands with other indicators is focused on in the book. Bollinger can offer technical guidance while also dipping a little into trading etiquette. A part of the book explains that everyone should develop their trading strategy using the tools and avoid copying other people.

book about forex trading

This book was updated and enhanced to understand the needs of the modern financial environment. It talks about the most recent advancements in technical tools and computer technology. It includes new content on Intermarket relationships, candlestick charting, stocks, and stock rotation. Readers get an understandable overview of the area of technical analysis.

A Three Dimensional Approach To Forex Trading

It’s no secret that the Elliott Wave Theory is one of the most popular and complicated methods of market forecasting. This book provides a great introduction to what this theory is, how it works, the main principles behind it, and how exactly it can help traders make better predictions. Of course, not all trading books are useful, so here we compiled a list of the nine best books to learn Forex trading. Keep reading to find the best Forex trading books for your needs. Forex trading can be a complex and challenging field, but with the right tools and resources, anyone can become a successful trader. A book with simple nuggets that would help you stay safe in the forex market.

  • The book’s simple language makes the forex market accessible to the layperson.
  • There are so many different methods of trading found in this book, that you are bound to find something that fits your own personal style.
  • It is possible through analyzing the balance of trade, purchasing power parity etc.
  • Conflicts, contradictions, and paradoxes in thinking can spell disaster for even a highly motivated, astute, and well-grounded trader.
  • The book also goes further by providing fundamental tested forex strategies.
  • By reading and studying these books, beginners can gain the knowledge and skills necessary to navigate the forex market with confidence.
  • Smith is also the chief investment officer of a money management firm.

Leave a Comment

Your email address will not be published.