Like anything else, Forex trading requires education, patience and practice for you to become successful at it. As Forex trading, has become more popular, more and more books have been written and published on the subject – from beginners guides to advanced trading strategies. Here we will look at the top 5 books to become a Forex trader; however there are hundreds of others available on the market and to get a deeper understanding of Forex trading, it is worthwhile to read a range of different books on the subject.
- Currency Trading for Dummies by Brian Dolan – Written in 2011, this is an easy-to-read, simple explanation of the Forex market, written by a veteran of the Forex market. It is a good choice for those who are new to foreign currency trading as it looks at how the markets work, driving factors and how to be a successful trader.
- Day Trading the Currency Market by Kathy Lien – This book contains both learning, as well as actionable information and strategies. The book takes readers step-by-step through the basics of Forex trading, teaching the fundamentals of Forex, as well as core technical analysis trading strategies.
- Market Wizards by Jack Schwager – This is more a collection of interviews with successful Forex traders, than it is a book of information. However, for those who are new to Forex trading, it is worthwhile gaining this insight into the approaches of those who were successful before you. There is a series of these books.
- Currency Trading and Intermarket Analysis by Ashraf Laidi – This book is not for the novice, but rather for those who already have a basic understanding of Forex trading and how the market works. This book looks at macro and micro factors that influence currency.
- Japanese Candlestick Charting Techniques by Steve Nison – This is a great pick for technical traders as it provides an in-depth explanation of Japanese candlestick charts, a technical tool that is popular with traders. The books explains how to use candlestick charts together with other technical tools. This books is worthwhile for once you already have good knowledge of the basics.