Best Books to Learn Forex Trading from Scratch

Are you a complete beginner who wants to learn forex trading from scratch? Forex trading is a vast and fascinating subject to study. It can be overwhelming and difficult to get into. But don’t be intimidated by this. Here’s a suggestion: the sooner you start learning anything, the sooner you’ll get there. Every successful forex trader you’ve heard about on the internet or in publications started somewhere. For your benefit, many of them have written books about their achievements, failures and forex trading strategies. These books can help you from the beginning to the end of your advent.

There is, however, a plethora of books on the subject of currency trading, ranging from simple introductions to the forex market to expert fundamental and technical analysis tactics. These are some of the biggest that have stood the test of time and the ups and downs of the currency market.

  1. Currency Trading For Dummies by Brian Dolan: One of the best books for beginners is Currency Trading for Dummies. It contains simple and easy to understand instructions for currency trading as well as details on the forex market. In fact, it’s a great read for more experienced players who need a refresher on the fundamentals. The financial media frequently refer to it as a source. Brian Dolan, former chief currency strategist at Forex.com, and Kathleen Brooks, director of research at Forex.com, co-authored the updated book, which was first published in 2011.

  2. Day Trading and Swing Trading in the Forex Market by Kathy Link: Kathy Lien is the managing director of BK Asset Management, a “foreign exchange research and advisory firm,” according to its website. Lien is one of the most successful and well-known figures in the forex market, having made a name for himself on Wall Street for more than two decades. Day Trading and Swing Trading the Currency Market, written by Lien, is a popular forex trading book for beginners, offering unique and practical insight into fundamental and technical forex trading tactics. In addition, Link provides a detailed description of the short and long term elements that influence currency pair trading.

  3. How to make a living trading foreign currencies by Courtney Smith: Courtney Smith begins How to Make a Living Trading Forex with an overview of the forex market and how it works. However, the majority of this year’s work is focused on making money, with six trading strategies provided. It also includes material on trading psychology as well as important risk management tactics. It also discusses Smith’s unique “rejection rule”, a strategy for increasing the profit provided by basic channel bypass systems.

  4. Japanese Candlestick Chart Techniques by Steve Nison: This book focuses on a specific, yet crucial, facet of forex trading: Japanese candlesticks. Nison is generally referred to as the “father of modern candlestick trading”. Nison provides readers with everything they need to know about candlestick charting, as well as important information on stocks, futures, and more! This is a great beginner’s book for traders who want to focus on technical analysis.

  5. The Disciplined Trader by Mark Douglas: Discipline is an important aspect of forex trading that is often underestimated, especially by newcomers. Mark Douglas, like many other skilled traders, has spoken of the need to regulate your emotions when trading. Douglas discusses forex trading from a psychological perspective in his book, helping new traders conquer their concerns and fully understand the importance of learning psychology in forex trading.

Learning finance is a challenge, and forex trading is one of the most complicated aspects of the industry, with few people able to analyze and interpret it. After reading these forex trading books, you will be well on your way to trading forex currencies profitably.

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