Why are Forex Trading Books important
Forex trading has taken the world by storm. This is why we, at tixee, have decided to come up with a list of top 10 forex trading books!To get more news about forex trading book, you can visit wikifx.com official website.
Every day more people are investing in forex and many more are looking for ways to enter the market. No matter how much you have “heard” about forex, it is not wise to put your money on the table blindly.
Therefore, we have compiled a list of top 10 best books on forex trading that can help you learn everything about the forex world.
1. Trade Your Way to Financial Freedom – Van K Tharp
“Trade Your Way to Financial Freedom” is inclusive and is a good read for all traders, not just within the FX market. It trains people on how to make trading strategies while making sure that the plans are well put together.
2. The Complete TurtleTrader – Michael Covel
For people who are not into reading, “The Complete TurtleTrader” is an interesting first choice. The book tells a story about a trader who makes a bet that he can make anyone a successful trader if they could get a proven strategy. His disciples were called ‘turtles’ (hence, the title).
Many of the turtles mentioned in the book are real people who grew to be influential and successful traders. The trend trading strategies are detailed in this book.
3. The New Market Wizards – Jack Schwager
“The New Market Wizards” is another book of trading strategies but it is better in a way that its Profitability Analysis adjust to many different trading styles. The author has interviewed several successful traders and taken insider views on what it takes to trade efficiently.
Interviews of people with entirely different trading styles and success stories will help readers understand that there is no one right way.
- Currency Trading for Dummies – Brian Dolan and Kathleen Brooks
“Currency Trading for Dummies” is another book from the “For Dummies” series which explains complex ideas in simple language. You can think of this book as an “All you need to know” guide into forex trading.
It is focused on basics, so it is for people who know nothing about forex trading. If you want an advanced guide, read on for more options.
5. The Little Book of Currency Trading – Kathy Lien
This book focuses on fundamental analysis rather than a technical analysis which focuses on economic conditions and news to predict how the price will fluctuate. Other than the forex strategies a plus point is a conversational style. Therefore, you should read this book to understand how a field professional thinks and acts.
6. Day Trading and Swing Trading the Currency Market – Kathy Lien
This is another book on our list by Kathy Lien. “Day Trading and Swing Trading the Currency Market” is a combination of fundamental and technical analysis trading methods.
The best part is that it covers strategies for short-term trading as well as long-term trading. The book undergoes frequent updates to include the latest strategies and market changes.
7. Trading in the Zone – Mark Douglas
For trading strategies aren’t everything. A trader must exercise patience and consistency to implement the strategy effectively without falling into confusion and self-doubt.
Thus, “Trading in the Zone” helps readers develop and implement strategies without emotional interference. Many traders who felt stuck have found new motivation and better results by reading this book on forex psychology.
- Intermarket Analysis – John Murphy
“Intermarket Analysis” studies how different markets interact to predict price fluctuations. It is a very informative book that explains how forex prices are affected by changes in other assets.
- Millionaire Traders – Kathy Lien and Boris Schlossberg
This book is also a collection of interviews. However, the list of people includes successful traders that are not well-known or are under the radar.
“Millionaire Traders” is a very inspirational book because most of the people highlighted here are those who started from humble beginnings and gradually grew their accounts exponentially.
- The Man Who Solved the Market – Gregory Zuckerman
If you are looking to automate your trading, then “The Man Who Solved the Market” might be the best book for you. It tells the story of Jim Simons and his journey to creating Renaissance Technology.
His funds have a consistent track record of above 50% yearly returns which is not very common in the hedge fund world. This will help you automate trading in the best way.