Courtney Smith begins How to Make a Living Trading Foreign Exchange with an introduction to the world of forex that explains how the market works. But most of this work is devoted to making money, offering six strategies to earn a steady income by trading. He also provides important risk management techniques as well as material on the psychology of trading.
It includes an explanation of Smith's unique "rejection rule," a strategy designed to double the profit generated from basic channel breakout systems. As the title indicates, this book is oriented toward giving beginners the basics.
The author is a self-taught forex trader who became intrigued by currency exchange and its profits at a private gathering for stock traders. The text stands out for Brown's clear, concise language that, without being condescending, never takes the reader's knowledge for granted.
Some of the basics covered are:. Brown also offers up his own trading strategy that a novice can use, or at least be inspired by and use as a guideline for creating a personalized one. Your Money. Personal Finance. Your Practice. Popular Courses. Currency Trading for Dummies by Brian Dolan. Buy on Amazon. Investopedia is part of the Dotdash Meredith publishing family. Anna Coulling aims, with Forex for Beginners , to give you the basic knowledge you need to start trading currencies.
But not only this! The book contains other useful information that many books for beginners ignore. The book is divided into 14 chapters and I must say it is well structured. At the start of the book the author will go through the fundamentals, explaining the basic mechanisms of trading and the terminology. You will find some history about currency trading, how prices are quoted and the forces that drive the currency market and an introduction to the main currencies in the market.
Proceeding with the reading you will encounter different approaches to trading and the favorite tool of the author: volume analysis. Anna Coulling is in fact a strong believer in volume price analysis VPA and she will try to show you how to use it in some strategies. Like in any other book for beginner you will be explained the basic concepts of risk and money management and trading psychology, so that hopefully you will not blow up your trading account. Towards the end the reading becomes more practical.
The author will explain how to choose your broker and what currency pair you should start with. You will see how get started with MetaTrader as well. If the content is excellent, unfortunately, I cannot say the same of the writing style.
The explanations are clear and the language very easy to follow but the quantity of information is significant and it can result a little boring at times. Breaking down all these pages of written text with some more images, formulas, tables and so on I think would help the reader's eyes. For a beginner trader, this book has definitely a great value. If you are a beginner, you will find a lot of information, some of which original and not always included in other volumes, for example volume price analysis, suggestion on the currency pair to start with, how to choose a broker, introduction to MetaTrader.
It also explains the latest SEC rules and tax laws, discusses risk management, and thinks about the pros and cons of forex trading. It essentially gives you a holistic overview of the forex markets. It is co-authored by Brian Dolan, an author and media commentator who has over two decades of investing experience, and Kathleen Brooks, a research director for a major forex website. A legal philosopher and historian, Jelle Peters runs a forex website, writes regular articles on investing, and has authored this popular forex guide.
Instead, it shows you how to avoid common mistakes when starting out. This makes it one of the must read forex books for beginners. Jelle Peters also includes a practical aspect to the publication with a quiz to help readers test their knowledge of the forex lessons explained in the book. A best seller forex book with positive reviews.
It aims to help you sidestep the mistakes that its author made on his journey so that you are earning money from your own trading within four months. Paul Langer offers a different perspective on forex investing. Whilst we have listed some of our top picks above, there are also many more popular forex books that deserve a mention:. While not sufficient to help professional traders, FTSE listed broker ETX Capital provides a small library of forex ebooks that can guide beginners in the basics of trading.
They range from forex fundamentals books, forex divergence books, and forex Fibonacci books to forex price action tools, and other materials bordering on technical analysis, patterns, and strategies. You can also find many forex books in PDFs, hard copies, and audiobooks on Amazon. The e-commerce giant offers a huge list of best-selling publications that can be bought or accessed as part of their Kindle Unlimited plan.
Amazon even has niche books for professionals, including forex and treasury management books, plus forex spread betting books. Deciding to learn forex is a great step, but the path can feel daunting, especially without the right guide. Fortunately, with the best forex books, you can set yourself up for an exciting investing journey. Each book differs, so novices may be interested in psychology PDFs, while more experienced investors may want chart patterns and scalping tips.
But ultimately, the best book will be one that aligns with your level of experience and is easy to read and digest. Yes — you can learn how to trade forex by reading good quality books. There are many options online that provide insights into how to navigate the FX market and get started.
You can also find more targeted books that look at support and resistance levels on price charts so you can calculate your entry and exit points. Beginners should start with forex books that cover key terminology, initial trading steps and strategies for newbies. The top books also explain how the forex market works, what influences prices and the characteristics of key forex pairs, such as the majors. Everyone learns at a different pace.
You can decide to learn the basics in a short time and advance fast, or you can choose to take things slow and steady. This makes them perfect for beginners. Currency Trading for Beginners allows any forex trading newbie to map out the forex trading world - getting to grips with the nature of the global forex market, how to trade, and what types of trading strategies are employed by speculators to make profits. So trading guru Richard Dennis reportedly said to his long-time friend William Eckhardt nearly 25 years ago.
What started as a bet about whether great traders were born or made became a legendary trading experiment that, until now, has never been told in its entirety. This is a truly compelling book about "The Turtles", a group of traders who decided to embark upon a highly unusual yet successful experiment to train two classes of newbies into elite-level traders.
The educational nature of the Turtles allows for a natural conversion into a trading book - with the lessons taught to the Turtles forming the basis of the content of the book. The financial instruments traded by the group were primarily commodity and derivative related, however I've featured this title in this forex trading book list as the lessons are highly transferrable between markets. Aimed at the typical investor--such as the average CNBC viewer--this book shows investors how to follow the ups and downs of stock prices by visually comparing the charts, without using formulas or having a necessarily advanced understanding of technical analysis math and jargon.
Murphy covers all the fundamentals, from chart types and market indicators to sector analysis and global investing, providing examples and easy-to-read charts so that any reader can become a skilled visual investor.
In contrast to the above, The Visual Investor is a guide aimed strictly at existing investors who are already familiar with investing terms and most jargon. This is the second book I feature on this ranking written by John Murphy, who I consider to be one of the god fathers of technical analysis. The job this book sets itself is to convert you from a reasonably knowledge investor into a knowledgeable day trader - capable of making predictions about short term movements in the stock market.
Compared to my 1 title Technical Analysis, this is a more accessible book which you'll find much easier to complete. The Price in Time presents a clear, powerful and well organized working method that will enable you to know exactly how to act once you enter the market. I wanted to feature a very recently published title on this list which gives a decent insight into detailed day trading strategies which have been used in The Price in Time by Gabriele Fabris fits the bill perfectly, offering several forex trading strategies which she claims work in todays market.
In a nutshell, this is an interlectual challenge which I've set at what I feel is the right level of difficulty to provide enough of a hurdle to encourage and incentivise you to keep up, but not so great a hurdle that the challenge is likely to fail. I challenge you to read one day trading book each month for the next 12 months! The idea behind the Financial Expert Best Forex Trading Book Challenge is that the more widely you read, the better forex trader you will become. It's as simple as that.
Books are but a collection of experiences, written down and shared by others. By reading many titles, you can accumulate a pseudo experience, which can help supplement your own. Of course, nothing can replace real trading experience. And I content that investing courses which don't include a sensible amount of demo-trading or simulations will always be missing a crucial factor.
However, you can still obtain the raw knowledge, ideas and warnings from written material. It's much cheaper to gain these from books than to learn them from your own forex trading mistakes! The ranking above of my absolute favourite books on currency trading is probably a good place to start. To reiterate what I said at the beginning - you'll find that the online marketplace for forex books is filled with a overwhelming volume of cheap, virtually empty titles written by amateurs, therefore please rely on shortlists like these or other reviews to help you choose titles which will ensure this challenge is a rewarding experience.
When curating the list of forex trading books above, I was careful to include a selection of books from the different sub-categories of forex trading books. These are the main sub-categories:. Introduction to forex trading - A beginners guide which explains the vast nature of the global FX market.
Currency geopolitics - Books which delve deeply into the political factors, powerful people and long term trends which have been driving movements in the forex markets. Day trading books - Books with a broader focus than just FX, which covers topics such as trader psychology, managing a portfolio and other essential skills. FX trading ideas - Books which champion a specific trading method or type of analysis, for example books about quantitative and technical analysis. As a beginner, I would recommend reading widely across all four categories, in the order I have listed them above.
This will lead you to start with the biggest possible picture: 'how does this market actually work? Secondly, it's 'what's going on globally? Jumping too quickly into specific tradnig strategies without first learning the risk-management skills of day trading, or without truly understanding how the market works is foolhardy, bordering on dangerous. There's no rush to become a forex trader. The FX market has existed for centuries now, and it will still exist in a few months time after you have read enough to consider yourself prepared to place your first trade.
Being at the centre of such an enormous market, it's no surprise that many of the world's leading FX brokers and traders live and work in the UK, predominantly in the national's capital. This has led to a wealth of experience being gained, which eventually translates into a wide variety of forex trading books hitting the shelves once those traders have decided to switch their Bloomberg terminal for a pen and paper!
As I explain in my guide to how to trade forex , forex trading is the trading of currency pairs, with a view of generating a positive return from an increase in price of the currency you bought, and a relative decrease in price of the currency you sold.
Forex traders specialise in just one asset class: foreign currencies. This is different to hedge fund traders who may buy or sell currency to hedge an element of currency risk in an arbitrage or other trade. In that case, the trader is buying or selling currency to actually eliminate a risk, rather than purposefully speculating on a price movement.
It's worth noting that some hedge fund traders do actually trade forex for speculative purposes also. When does the trading day begin or end? How long should positions be taken for? Without a clear regime and discipline, FX traders can suffer from burnout arising from a 'never-ending' working day. Financial planning Portfolio management Early retirement Retirement planning Estate planning Asset allocation Risk management.
Get money motivated Financial independence Money mindset Get rich quick Invest in yourself Investing for teens Investing for students. Advanced finance Derivatives Structured products Options trading Alternative investing Corporate finance Project finance. Financial Expert Book Awards. Gold Prize. Why this book won. Readers' favourite Clear and concise Comprehensive and detailed. Learn More. Forex trading books for beginners Introductions to the forex market and how to place your first trade.
Forex trading ideas Trading bibles containing in-depth trading strategies and advice on how to increase trading profits. Forex trading advice for experienced traders Trading bibles containing in-depth trading strategies and advice on how to increase trading profits. Day trading books for beginners A selection of trading manuals which are tailored for investment novices. Skip the fads and read the trusted bibles instead.
There's no obligation to continue with a paid subscription. You don't even need a Kindle to enjoy - any device will do. Get free access. Buy on Amazon. Financial Expert Rating:. Who this investing book is for:. The Way of the Turtle - Curtis Faith. The Visual Investor - John Murphy. The Price in Time - Gabriele Fabris. I challenge you to read one forex trading book per month and see if it revolutionises your investing style!
What is the challenge exactly? Some tips for success I found it helpful to stock up on books for the next few months, so that when a new month rolls around, my next book was my bed-side table asking to be opened! Pick a variety of styles. This will keep the challenge fresh and increase the diversity of opinion.
Pick at least one book that you don't think you would enjoy, this book might be the one that surprises you the most! If you're time-starved, audio books are absolutely fine! Where to begin? Good luck! What type of forex trading book should you buy?