Best forex trading books to help you get you started

One way to learn about forex trading is to read a well-structured book on the subject.

If you’re new to the forex market, invest in a forex trading book. What you require is specific knowledge and practical information about the Forex markets.

There are numerous excellent trading books available that are applicable to all markets. However, as a new forex trader, you should hold off on reading these books until you’ve established a solid foundation in the forex market. After that, you’ll be able to apply general trading concepts to trading currencies on the forex market.

forex books

Top 5 Forex Trading Books For Beginners

The following 5 trading books are not ranked or categorized in any way. Please keep in mind that the first four books are only suitable for complete beginners. The remaining three books should not be read until you have a good understanding of forex.

1. Day Trading The Currency Market – by Kathy Lien

Kathy Lien, a former head of currency research at FX360 and GFT, has written three books about forex trading.

She is a good writer, and this technical book is easy to read. First, the book provides a thorough overview of the Forex market. Then there are specific trading setups to consider.

She employs both fundamental and technical analysis in her approach. This book will be most useful to you if you already have a basic trading strategy and want to improve it.

Day Trading The Currency Market Book

2. Forex Price Action Scalping – Bob Volman

This isn’t a beginner’s guide. Bob Volman’s book is more focused on price action than on forex. (I used to recommend this book to people who wanted to learn how to trade price action.)

As a result, you should have some forex trading experience. If you want to switch to fast intraday scalping, I recommend this book.

Scalping, on the other hand, is a difficult trading method that must be mastered. If this is an option for you, keep in mind that practicing will take hours.

Forex Price Action Scalping Book

3. Currency Trading For Dummies – Brian Dolan

This Currency Trading For Dummies book, like all others in the Dummies series, is a thorough introduction. It’s well-designed and simple to read.

In terms of Forex trading, all of the important points have been covered. Its scope as a basic forex trading book is impressive. Their emphasis on risk management is also appealing to me.

This forex trading book will provide you with a strong foundation. You can move on to more advanced trading concepts after reading this book.

In fact, in Chapter 20 of this book, you’ll find ten book recommendations for traders who want to go further. (I’ve personally recommended a few of these titles.)

Currency Trading For Dummies Book

4. The Sensible Guide to Forex – Cliff Wachtel

This book is called the Sensible Guide because it focuses on risk. The most effective way to manage trading risk is to size positions early. It also cautions against holding a large number of open positions. Any trading book that places a strong emphasis on risk is a good sign.

Cliff Wachtel provides a thorough introduction to Forex trading in this trading book. It also provides a comprehensive overview of currency technical and fundamental analysis.

The Sensible Guide to Forex

5. Currency Trading and Intermarket Analysis – Ashraf Laidi

As a market strategist, Ashraf Laidi worked for City Index and CMC Markets. He draws on his many years of market observation experience in this book.

In the hands of a skilled Forex trader, intermarket analysis is a powerful tool. In essence, all markets are intertwined, and no other market is as intertwined as the foreign exchange market.

Great traders take lessons from the past. The book provides historical context.

Please keep in mind that this should not be your first trading book. You are immediately confronted with the forex markets’ interrelationships, historical performance, and cycles.

Currency Trading and Intermarket Analysis Book

The Truth About Forex Trading Books

Because of the low entry barrier, many private traders begin their careers in the forex markets. As a result, the term “Forex” appears in many book and course titles in order to attract as many aspiring traders as possible. In the end, it’s purely a marketing decision.

You shouldn’t judge a forex trading book by its cover if you need specific forex knowledge. To find specific forex information, open the book and flip through it.

Regardless, it’s important to remember that technical analysis is a broad and general approach to financial market analysis. As a result, most technical trading methods can be used on any market.

A futures trading book can teach a forex trader how to draw trend lines. A futures trader can learn how to recognize divergences from a forex trading book.

As a trader gains experience, the precise classification of a trading book becomes less and less important.

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