Christmas is fast approaching, and most of us are getting ready to do our Christmas shopping already. If you know some forex brokers who might be in need of forex books this Christmas, or you’re a broker who wants to spend the holiday getting a head start on UK trading platforms for 2016, then you’ll want to look for one of these top 5 forex trading books. These books offer the best of the best: expertise, knowledge, and insight passed on from the masters of forex trading.
1. Trading in the Zone
Trading in the Zone, by Mark Douglas, is the one forex trading book we would recommend above all others. In this book, Mark Douglas hands over some of the secrets of his success, with a primary focus on the psychology of trading, which is an aspect of forex trading which many people seem to forget. It’s an engaging read and is ideal for experienced and beginning traders.
2. Technical Analysis of the Financial Markets
Don’t let the wordy title of this tome put you off; it’s nothing but gold. Technical Analysis of the Financial Markets, by John J. Murphy, is a classic in the field of trading, and it’s really an essential read for anyone who hopes to become a successful forex broker.
This can be quite a heavy read at times, but the knowledge it imparts is well worth the effort put in.
3. Currency Trading for Dummies
This is a book for complete beginners; if you want to learn forex trading from scratch, Currency Trading for Dummies, by Brian Dolan, can help.
The book assumes no previous knowledge of trading, and is set out clearly and simply. It’s a book that you can speed through in a week or take your time over, and it will help you to at least cover the basics of successful trading.
4. Day Trading and Swing Trading the Currency Market
Day Trading and Swing Trading in the Currency Market was written by Kathy Lien, the Director of Currency Research for a popular FX provider. This book is a good all-encompassing guide; if you only want to buy one book that can take you through the entire strategy of trading currency, this book should be the one.
It’s not a light read, but Kathy Lien’s expertise on the subject really shines through on every page.
5. Diary of a Currency Trader
Diary of a Currency Trader by Samuel J. Rae is a personal look at trading. The book will carry you through Rae’s own journey in forex trading, sharing his pitfalls and insights into the field. This book is both an informative read and an interesting one – an equally good book for the trader who’s just starting out and the trader who thinks he knows everything.
While these books are excellent sources of forex theory, it is important to learn through experience. There are many forex demo account opportunities available online which will allow new and veteran traders try trading for the first time or a new platform to get a slightly different perspective.
Frank Impish is a veteran forex trader and journalist based in the heart of London. He regularly writes about fx theory and gives forex trading advices.