Top 10 Books on Forex Trading: A Comprehensive Review
Forex trading is a popular and lucrative trading business that involves buying or selling currency pairs on the foreign exchange market. It can be a profitable way to make money, but it is not easy. There are many intricacies to forex trading that require knowledge and skill. However, gaining this knowledge and skill can be done through reading, learning, and practicing with the help of forex trading books.
Forex trading books are an excellent resource for traders of all levels, from the beginners who are just starting to the seasoned traders looking to improve their strategies. In this review article, we will explore the top 10 books on forex trading that have been written by experts in the industry.
1. Currency Trading for Dummies by Brian Dolan
Currency Trading for Dummies is a comprehensive guide to forex trading written by Brian Dolan, a renowned forex expert. The book is written in a beginner-friendly manner and provides a step-by-step approach to learning forex trading. It covers the basics of forex trading, including key terms, currency pairs, and analyzing the market. This book is highly recommended for traders who are just starting in the world of forex trading.
2. Japanese Candlestick Charting Techniques by Steve Nison
Japanese Candlestick Charting Techniques is a book by Steve Nison that introduces traders to the Japanese candlestick charting method. This method is widely used in forex trading to identify trading patterns and trends. The book covers the history of candlestick charting, the different types of candlestick patterns, and how to use them to analyze the market. It is a must-read for traders who want to master the Japanese candlestick charting method.
3. The Forex Trading Course by Abe Cofnas
The Forex Trading Course by Abe Cofnas is an excellent resource for traders looking for an in-depth understanding of forex trading. The book covers the fundamentals of forex trading, including technical analysis and charting patterns. It also provides insights into the psychology of trading, risk management, and developing trading strategies. This book is recommended for traders who want to take their trading skills to the next level.
4. The Complete TurtleTrader by Michael Covel
The Complete TurtleTrader is a book by Michael Covel that tells the story of a group of traders who were taught the art of trading by the legendary trader Richard Dennis. The book covers the trading strategies and techniques that the turtles used to generate consistent profits in the market. It is an inspirational read for traders who want to learn from successful traders.
5. The Disciplined Trader: Developing Winning Attitudes by Mark Douglas
The Disciplined Trader: Developing Winning Attitudes is a book by Mark Douglas that focuses on the mindset of traders. It provides insights into the psychological aspects of trading, including controlling emotions, developing discipline, and managing risk. It is a must-read for traders who want to develop a winning attitude towards trading.
6. The Little Book of Currency Trading by Kathy Lien
The Little Book of Currency Trading is a book by Kathy Lien that provides a concise introduction to forex trading. The book covers the basics of forex trading, including key terms, currency pairs, and technical analysis. It is an excellent resource for traders who want to learn the fundamentals of forex trading.
7. Forex Patterns and Probabilities by Ed Ponsi
Forex Patterns and Probabilities is a book by Ed Ponsi that introduces traders to the world of forex trading. The book covers the basics of forex trading, including the different types of currency pairs, analyzing the market, and developing trading strategies. It also provides insights into the psychology of trading, risk management, and trading plans. It is an excellent resource for both beginners and seasoned traders.
8. Naked Forex by Alex Nekritin and Walter Peters
Naked Forex is a book by Alex Nekritin and Walter Peters that provides a unique perspective on forex trading. The book focuses on price action trading, which is a method of trading that focuses on analyzing price charts without the use of indicators. The book covers the basics of price action trading and provides insights into developing effective trading strategies. It is recommended for traders who want to take a different approach to trading.
9. Trading in the Zone by Mark Douglas
Trading in the Zone by Mark Douglas is a book that focuses on the mindset of traders. It provides insights into the psychological aspects of trading, including controlling emotions, developing discipline, and managing risk. The book covers the importance of having a clear trading plan and sticking to it. It is a must-read for traders who want to develop a winning mindset towards trading.
10. Mastering the Trade by John F. Carter
Mastering the Trade is a book by John F. Carter that provides a comprehensive guide to trading. The book covers the basics of trading, including technical analysis and developing trading strategies. It also provides insights into the psychology of trading, risk management, and managing trades. It is recommended for traders who want to become well-rounded traders.
Conclusion
In conclusion, forex trading books are an essential resource for traders of all levels. They provide insights into the world of forex trading, including key terms, currency pairs, technical analysis, and developing trading strategies. Forex trading books also provide insights into the psychological aspects of trading, including controlling emotions, developing discipline, and managing risk. The 10 books reviewed in this article are some of the best books on forex trading written by experts in the industry. They are highly recommended for traders who want to improve their trading skills and take their trading to the next level.