We would be lying if we said Forex was easy and effortless. Trading Forex takes skill and knowledge regarding how it all works. This does not mean as a beginner you can’t trade though.
No matter your skill level, diving into extra research can help you build up your trading skills and knowledge so you are better prepared for your Forex journey. Beginners need to know the basics and well seasoned traders may need to learn new strategies to diversify their technique.
But, where should you start?
Reading books from forex experts can help you on your journey to forex success. Being successful while trading forex is a must if you don’t want to watch your investment seemingly vanish into thin air.
Check out the Kemistri team’s list of top forex trading books…afterall you should never stop learning.
The Art of Currency Trading
The art of currency trading is one of our favorite forex trading books. This book is written by Brent Donnelly and is a compilation of tactics and strategies he has learned over his 20 year trading career.
This forex trading book covers all the ins and outs of forex trading so is great for beginners and for novice traders simply looking to expand their knowledge.
Day Trading and Swing Trading the Currency Market
Day Trading and Swing Trading the Currency Market is written by Kathy Lien and is meant to help traders learn the fundamentals of forex trading to help make a profit. This forex trading book goes over set strategies that can help you take advantage of interest rates and trading based on the news.
This is one of our favorite forex trading books because it covers so many technical aspects of making trades. Knowing these things is a must to be successful when jumping into the forex market.
Trend Following by Michael Covel is another good forex trading book you can add to your library. This book was written after a large market crash in 2008. Michael aims to teach readers a technical based system for examining different markets.
Being able to approach trading from a technical standpoint, rather than emotional, is a must in order to be successful. Using emotion to guide your trading choices will likely lead you down a turbulent path that may fail.
Foreign Exchange Option Pricing
This is another one of our favorite forex trading books. Foreign Exchange Option Pricing is written from the perspective of a finance practitioner. This means it is geared for those that want to work in a bank or possibly a hedge fund.
This book is very math forward and provide practical examples for each scenario presented. Although not at the top of our list of forex trading books, this one is a must for forex trading professionals.
The Death of Money
ANother great forex trading book to read is The Death of Money. This book covers some fundementals of finances, especially in regards to central banks and the market crash of 2008. The theories the author delves into focuses on the only true money is gold and that the large recession of 2008 revolved around structural failure of the central banks. This means that they were using the wrong tools and systems to manage funds properly, thus the recession occurred.
Another one of our recommended forex trading books…Currency Forcasting. This book goes over why each country’s currency holds the value it does and why it may fluctuate the way it does. Knowing these key factors will help you as a forex trader decide which currencies may the best investment and how to place your bets based on each currency.
50 Pips a Day Forex Strategy
50 Pips a Day Forex Strategy is another recommended book by our team for beginner forex traders. The book is full of advice and strategies how to place your bets in order to make profits of at least 50 pips a day.
This is one of the important forex trading books to read to be sure you have the right strategy in place to have a successful forex trading journey.
Currency Trading for Dummies
Ahh the Dummies series, they really are great for learning…they have a forex guide as well. Currency Trading for Dummies is another great beginner forex trading book. This book covers it all. Points from this book include what forex trading is, different economic factors that come into play, strategies to use, how to trade and how to analyse data.
Forex Trading is another book our team would recommend to “skill up” in the world of forex. This book aims to teach readers about all the basics broken down in a simple way, so you can actually absorb the information without having to ge through highly technical terms and fluff.
Beyond the basics, this forex traading book also goes over the psychology of traders, day trading and long term trading, how to analyse data and how to properly look at risk versus reward when deciding where to invest and how much to invest.
The Black Book of Forex Trading
Another one of our recommended forex trading books is The Black Book of Forex Trading. This forex trading book is great for both beginners and experts. The focus of this book is to teach the reader trading strategies that can be easily learned and implemented in an investors portfolio of techniques.
Some of the strategies mentioned include swing trading, day trading and more. Everyone has a little black book of secrets, so this book can be yours.
A Quick Overview
Our team at Kemistri knows there are countless other books that can help guide you on your Forex trading journey. Reading books from experienced and expert traders is a great way to ensure that you can build your skill level up and gain knowledge to guide your trading journey.
We encourage you to check out our blog for additional information to help you with your learning.
Additionally, if you have any favorite forex trading books not on our list that you feel should be, simply reach out and we can add it in.