Forex books: We acknowledge the classics and pinpoint the best of the neglected sleepers…
Anyone tasked with the job of compiling a 10 Best list of anything is immediately faced with limitations.There are obviously more than 10 good forex books. And any one list of the ’10 best forex books’ is bound to disappoint some people with its inclusions and others by its exclusions.So this is not intended to be the definitive list.
Do you have a book you’d like to recommend? Better yet, what is your list of the top ten forex books? Leave a comment below and tell us.
These are the top 10 forex books for trading that I’ve found in my experience:
(1) Trading in the Zone, by Mark Douglas
Often referred to as the Bible Of Trading, and as applicable to the forex markets as any market. Simply the most important book you will ever read as a trader, and you will read it often, I promise. The first time I read it I had just started trading and didn’t get much out of it. A year later I read it again and it was like the clouds parting and the sun shining through! An absolute must read…
(2) Jesse Livermore: World’s Greatest Stock Trader, by Richard Smitten; & Reminiscences of a Stock Operator, by Edwin Lefevre
Yes I know it’s two books, but seriously anything you can lay your hands on to do with Jesse Livermore is well worth reading, and forget about the fact that he was mostly a stock trader, the lessons and insights gained here apply to any market and any trading activity, and are quite timeless.
(3) Currency Trading for Dummies, by Mark Galant and Brian DolanA great first read as an introduction to the world of currency trading.
(4) Face the Trader Within
Ex-Olympian and renowned fund trader, as well as Commodities Trading Adviser and mentor to traders of all levels, Chris is uniquely positioned to write a book on the psychology of trading. That’s what this book is about: facing your inner challenges in order to achieve outer successes. An excellent read, Chris doesn’t waste words and gets right to the point of what you need to know. I hate to be dogmatic but you really must read this, especially as it is now available free of charge: check the link in Free Forex Books
(5) Warrior Trading, by Clifford Bennett
Not as well known as your average forex book, but I list it here because I think it is worthy of a place. I personally feel that Clifford goes a little overboard with the warrior analogy, but his insight into market mechanics and market psychology is born of great experience and brilliantly expressed in this short, punchy read. Highly recommended.
(6) The Secret of Candlestick Charting, by Louise Bedford
The best value for money introduction to candlestick charting, and possibly the only book you need on it, with one caveat: it doesn’t cover the difference between forex candlesticks and those in other markets. As I cover the topic on this site (Forex Candlesticks) this isn’t such a big deal. Highly recommended…
(7) Nison Candlesticks – Japanese Candlestick Charting Techniques, Second Edition; & Beyond Candlesticks, by Steve Nison
Again I’m cheating by including two books for the price of one, but anything on candlestick charting by Steve Nison is worth getting your hands on. Nison brought candlesticks to the West from Japanese culture many years ago and is still going strong, educating and updating on the subject. Again, the books have little on the differences between forex and other candlesticks, but Steve does cover forex candlesticks comprehensively in his other educational courses.
(8) Encyclopedia of Chart Patterns (Wiley Trading) by Thomas N. Bulkowski
This really is an encyclopaedia, comprehensive and detailed explanations of chart patterns, common and uncommon. What I particularly like about Bulkowski’s book is the lack of emphasis on indicators and focus on price action as discerned from the chart patterns themselves. Not an easy book to come by, but well worth the effort of a search.
(9) Day Trading and Swing Trading the Currency Market: Technical and Fundamental Strategies to Profit from Market Moves – by Kathy Lien
Kathy Lien has a reputation as a currency trader and educator of value and integrity stretching across the Internet. When she speaks, you should listen. When she writes, you should read. Again, highly recommended…
Some others that didn’t quite make it into the list, if only for the reason that I haven’t read them in a while, but are also worth considering:
How I Made Two Million Dollars in the Stock Market, by Nicolas Darvas
Candlestick and Pivot Point Trading Triggers + CD-ROM: Setups for Stock, Forex, and Futures Markets by John L. Person
Technical Analysis of the Financial Markets, by John J. Murphy.