The forex market is one of the most liquid ones, but sometimes even the best Forex books are unable to entice investors.
This is primarily because the forex market is still largely untapped.
The biggest operators in the market are primarily large institutions.
Liquidity is very high in the forex market.
The daily trading volume exceeds $5 trillion on an average.
In fact, the volume generated after 30 days of trading on NYSE gets done in a matter of a day in the forex market.
This is exactly why interested investors need to refer to books that help them with practical understanding.
The books on investment in the forex market are not just about clocking profit.
You will have to understand how the global markets are connected.
This is because the forex market movement is again closely linked to geopolitical events.
Moreover, it is always beneficial to read a book that can help you with the best case scenario and the challenges too.
Keeping in mind this requirement, we decided to create a unique list of forex books.
These are not just among the best forex books globally but very practical too.
It helps you to understand the dynamics of the market and also devise appropriate strategies.
What is particularly interesting is that most of these books that we are referring to have stood the test of time.
They have continued to inspire generations of forex market investors.
The books that we have shortlisted are suitable for every kind of forex investor.
Whether you are a beginner or seasoned veteran, these books help you with deep insight.
The idea is to refer a handbook for easy investment strategies for those looking for relevant books.
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Best Forex Books
Here is the list of the best Forex books that you should read:
- Forex Trading: The Basics Explained in Simple Terms
- Forex For Beginners
- Currency Trading For Dummies
- Thirty Days Of Forex Trading
- Day Trading and Swing Trading the Currency Market
- Technical Analysis of the Financial Markets
- Reminiscences of a Stock Operator
1. Forex Trading: The Basics Explained in Simple Terms
This book written by Jim Brown is one of the best forex books.
The book is concise and lucid at the same time.
It makes readers aware of the dynamics of the forex market in a detailed manner.
You can even refer to this book as your forex market made easy
Brown painstakingly explains every small and big element that you may come across.
Often for beginners, this is a major challenge in the forex market.
But this book by Brown gives you a virtual tour of forex trading in a comprehensive manner.
He refers to the key elements that are important for effective forex trading.
He makes viewers aware of a variety of entry and exit strategies as well.
Most importantly, this is one of those books that make you confident about forex trading.
Readers get a firsthand idea about the dynamics of money management.
They begin to understand how they should be dealing with trading psychology.
If you are starting out in the forex market, you must grab a copy of a book like this.
Even for seasoned investors, this book will help sharpen their trading skills and enhance the basics.
The basics are the foundation for quality investment in the forex market.
The trading strategy for readers at the end is an additional bonus.
You can easily adapt them to enhance your portfolio and add to your profit.
But you need to be clear this book is not about mastering top 5 strategies in the forex world.
On the contrary, it strengthens an investor’s understanding of the forex market.
This, in turn, is set to empower them to create their own strategies in a conclusive manner.
It becomes the basis for exploring the true potential of the forex market.
2. Forex For Beginners
When you are creating a list of the best forex books, this is another important addition.
As you can well imagine from the title, the author Anna Coulling, wrote it for complete beginners.
She created this handbook to guide people who are completely new to the world of forex trading.
In fact, this happens to be the third book by Anna Coulling on the issue.
But she considers this book as a prequel to the previous two.
This is because the earlier books are more generic in nature.
They are primarily geared towards readers who are already trading in forex
‘Forex for Beginners’ practically guides investors through the various alleyways of forex investment.
The Ups and downs, the challenges and the advantage, Coulling offers a virtual tour through this book.
It is primarily a systematic introduction to the various facets of forex market investment.
It gives readers a detailed overview of the trading basics.
Needless to mention, this kind of book helps investors get a grip on the market dynamics.
It sets them up for a deep and intriguing journey into the depth of forex trading.
Coulling’s career as a full-time forex trader adds further credibility to the book.
She has over 16 years of experience in the financial market and is a self-taught trader.
The kind of success that she amassed in little more than a decade is unimaginable.
That is why her works are regarded with a lot of respect and credibility.
Helping other investors benefit from the forex market is the primary objective.
She empowers beginners to come and add value to their portfolio.
But she does not want them to operate blindly on these suggestions.
This is where the book, Forex For Beginners makes a huge difference for its readers.
3. Currency Trading For Dummies
This is a relatively new book, but this has become an indispensable one.
First published in 2011, the author Brian Dolan literally takes forex trading to your living room.
As the title suggests, this book is all about explaining forex trading to the uninitiated.
Dolan is a forex market veteran.
He has over 20 years of experience in forex trade.
That in many ways makes the book an amazing read for those who are first-timers in the forex market.
Dolan has worked as the Chief Currency strategist at Forex.com.
Needless to mention that this experience makes him an authoritarian voice in the forex market.
Not only is he an expert on the subject, but he is a voice within the industry.
He has regularly used a variety of instruments to analyze the forex market and how it operates.
Needless to mention that the book in many ways is a true reflection of this analysis.
It highlights his superior command over the forex trading dynamics.
Be it fundamental or technical analysis, he guides readers about how to use them to their advantage.
He has been at the helm of the latest innovation and development in the forex world.
This book becomes your window to the world of forex trade.
The language and the narration style of this book are exceptionally simple.
That helps in conveying the points in a clear and direct fashion to the target readers.
As a result, readers are also able to grasp these topics in a clear manner.
The instructions on forex market trading are extremely direct and straightforward.
All of it undeniably helps in creating a deeper forex trading experience.
That will, no doubt, help give you trade a definitive edge if you are reading this book.
4. Thirty Days Of Forex Trading
When you delve online, you will notice the world of forex trading is replete with myths and wrong notion.
The fact that it is not as actively used by retail traders as the stock markets sometimes create opportunities for these loopholes.
Forex trading is not simply about another profitable trading avenue.
In many ways, it is an untapped medium that can enrich anybody’s trading experience.
Thirty Days of Forex Trading is exactly about that and more.
It helps you to learn how to tackle the forex market from the front.
Often people liken forex trade with stock trading.
Perhaps the fundamentals of trading are similar.
But the problem is it is a far more dynamic platform than stock markets.
The stakes are also way higher in comparison.
This is why this one is one of best forex books that can help you get an edge over peers.
However, don’t be mistaken by the name.
It is not a book for beginners in the stock market.
It is typically meant for those who have a certain degree of understanding.
Also, it seeks to give its readers a deeper and a detailed understanding of the stock market.
This book written by Raghee Horner is a mix of a trading journal and trading instruction.
This book introduces forex traders to a wide array of trading tools.
It gives them a detailed understanding of how they can turn these into profit opportunities.
What really adds further credibility to the work is that Raghee herself is a celebrated day trader.
She gives a ring-side view of the market dynamics through her eyes.
Raghee’s commentary is very well respected across forex cycles.
She shares this treasure of knowledge quite openly.
As a result, the book commands a lot of respect from regular traders.
5. Day Trading and Swing Trading the Currency Market
This book is written by Kathy Lien and gives readers details about Technical and Fundamental Strategies.
Unlike stock markets, there is a very thin line that distinguishes fundamental trading from technical trading.
Kathy Lien in this book seeks to address exactly this grey area of forex trade.
The fact that she is one of the world’s most celebrated forex analyst adds more credence to her work.
What is particularly interesting is how often this book is updated.
It is, therefore, one of the must-haves and figures prominently amongst the best forex books.
There is something else that is unique about this book
Of course, it stems from Kathy Lien’s unique perception of forex trading.
She has very deep and thorough understanding of both technical and fundamental trade in the forex market.
She effortlessly weaves macro developments with key technical levels for entry and exit.
This creates a sense of unique appeal in the reader’s mind.
Apart from a trading veteran, regular retail traders do not classify their trades as strictly fundamental or technical.
However, with the help of this masterpiece by Kathy Lien, that line more or less disappears.
Traders learn how to balance between the fundamental and the technical elements in the market.
That, in many ways, offers them a meaningful trading opportunity and comfortable exit points.
An additional bonus is that this book has trading strategies for both types of forex traders.
Whether you prefer fundamental or technical trades, Kathy charts out some clear, hard-hitting strategies.
It enhances the fundamental understanding that readers often lack.
Kathy puts to use her personal trading expertise to chart out potential strategies that can help traders.
So it goes without saying that reading this book will surely give you a distinct edge.
6. Technical Analysis of the Financial Markets
When you are looking at the best forex books, this one by John J. Murpy is a must have.
This is because technical analysis plays a very crucial role in forex trade.
Compared to stock markets, forex markets are most times unimaginable without the forex charts.
In that context, this book becomes one of the most dependable reference materials to use.
When you want to know about a specific technical development, it the sort of book that comes to your rescue.
It provides readers easy and simplified understanding of the complex technical developments in the market.
It gives readers a ringside view about how each technical indicator work.
So if you are serious about forex trading, you also need to consider this book seriously.
With over 500 pages, this is pretty much the technical analysis bible for the forex market.
It covers a wide range of technical elements and helps readers deepen their technical know-how.
So whether you are curious about technical trends, resistance and support levels or key patterns in the market, you have an answer for everything.
It will not be wrong to say that this is the best forex book for technical analysis.
While there is no dearth of books on this matter, the clarity that this book achieves is phenomenal.
It helps readers get a deeper grasp of the complex technical elements in the forex market.
It is one of the cornerstones of great trading experience in the forex market.
7. Reminiscences of a Stock Operator
I am sure that you are confused reading the name of the book.
After all, we are discussing books about the forex market.
Well, the ‘Reminiscences of a Stock Operator by Edwin Lefèvre is also about forex trading.
In many ways, it is one of the original classics on forex trading.
This book was first published in 1920 and is undeniably one of the best forex books.
The book traces the life of Larry Livingston in its narration.
Livingston is the pseudonym for one of the most talked about traders in the financial market, Jesse Livermore.
Jesse Livermore is one of the most celebrated traders of the forex market.
His life is a tale of continuous ups and downs in the life of a forex trader.
But you may wonder, how someone’s life history can become such an important forex market classic.
Yes, they are inspirational no doubt, but there is more to this book than that.
This book is a treasure trove of trading wisdom.
Practically every page is filled with nuggets of trading expertise and advice for traders.
This is not just theoretical understanding but practical information that traders should have.
The book is replete with many real-life experiences that can enrich anyone’s trading experience.
“Make the trend your friend” or “cut your losses’’ are not mere sayings.
This book helps you with real-life examples of how to take advantage of these.
It is often these nuggets of wisdom that beginners in forex trade miss out on.
Forex trading that way is extremely dynamic.
The market size is very large and the players too fast.
This type of trading understanding that undeniably adds sparkle to your overall experience.
Therefore this book can help sharpen your forex trade several notches higher.
The list of the best forex books can never be considered complete.
Almost every day you have someone new with a fresh perspective on the forex market.
But keeping such a close track of developments is impossible for regular traders.
This is where this list of the best forex books is helpful.
These are decidedly the best forex books in terms of fundamental understanding.
Most times, readers do not have the time to browse through many books.
In that case, you can easily read through our list of best forex books for a deeper understanding of forex trade.