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Suggestion 7 Forex Trading Books Every Investor Must Read in 2020–21

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skrimon

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The Forex market is the world’s largest market and operates 24 hours during workdays. Its principle is simple — trading currencies for global nations. However, trading is not as smooth as it sounds.

The Forex market is affected by several factors, such as the nation’s GDP, interest rates, inflation, etc. Therefore, this market is not for everyone. It demands discipline, commitment, mental endurance, a whole bunch of knowledge.

And, for Forex, the best way to acquire lots of knowledge quickly is by reading books. There have been a number of Forex books in the past, but here are the seven best ones in my opinion.

Here are the deets…

Currency Forecasting: The first book on our list is for beginners. The Currency Forecasting was written by Michael Rosenberg who is a long time technical examiner at Merill Lynch.

As the name suggests, the book helps the traders in price predictions. The book was written way back in 1995 and is still loved because of its simple, brief, and logical language used.

Rosenberg used long term skills of his career and a combined monetary dynamics & macroeconomics of the international Forex market. The book combined fundamental and technical analyses logically and understandably.

Thus, it helps significantly in forecasting prices — the book makes emphasis on technical analysis through tools, which help traders to make a prediction.

Trading in the Zone: The second book is a masterpiece by Mark Douglas. The book focuses on a Forex trader’s emotional aspect. As per Mark, feelings such as fear and greed are prevalent among traders, and overcoming them is the very first step.

The book helps the traders by providing the techniques to avoid these emotional trading pitfalls.

Not only this, but the book also describes the required emotional and psychological traits of a successful Forex trader and the methods to develop them.

Also, Douglas has introduced a “Thinking Strategy” which presents five elements that are common in most successful and consistent Forex winners.

Mark believed that the Forex market moves within the probability dimensions and not on the right or wrong mentality, which most traders think! Therefore, take every decision in thinking odds and evens.

Japanese Candlestick Chart Technique: the Candlestick chart is a quite popular tool among traders now and holds a different place in their hearts.

In this chart, every candle contains lots of information that helps traders make better and accurate decisions. A trader would be able to know the opening price, closing price, market behavior, high, and low in each candle.

Steve Nison wrote the book, and it helps you understand this chart pattern. It also helps on how to combine and use this tool along with other devices.

Steve Nison introduced the chart pattern through this book in 1991, and today, the trend is widely used in almost every trading market and by every trader.

The writer, after the success of this book, wrote several other similar books like Beyond Candlesticks and Candlestick Charting Basics.

The Disciplined Trader: Here’s another excellent write-up by Mark Douglas. The book is an eye-opener for all the traders who think that their attitude has no role in their profits.

Most of the trading books are related to theories, case studies, tools, techniques, and strategies, but as the name suggests, the book points to the importance of discipline.

Douglas believed that a weak or unskilled trader might win once, but a trader with no discipline over his emotions can never succeed in the market.

The book goes on with telling the tips on controlling the emotions and emphasizes that it is more complicated than it sounds.

Mark wrote this book after a series of significant losses in his trading decisions. After losing almost everything, Mark analyzed all his trades and described the lessons learned from them.

The trader would also be able to mitigate his risk levels and track his performance while trading after reading this book.

Day Trading and Swing Trading the Currency Market: Now comes in line one of the best-selling books on intraday trading. The author of the book is Kathy Lien, a well-known market examiner.

The author frequently makes guest appearances on several finance shows and channels like Bloomberg & CNBC (as a guest).

The book, Day Trading and Swing Trading the Currency Market: Technical and fundamental strategies to gain from market moves, also provides insight into the invaluable learning experience of the author.

The writer, who is also the MD of BK Asset Management firm, uses a balanced trading approach using both technical and fundamental analyses for Forex trading.

The book also covers a brief hand on primary factors, both long and short term, which affect the currency market prices.

Forex Trading the Basic Explained in Simple Terms: This simple book is written by Jim Brown, the Australian Forex trader with years of experience.

The publishing cover majors topics like explaining Forex, market, pairs, lots, size, risk, analysis, trading signals, and a lot more in detail. Although the book covers most of the essential topics only, it includes one crucial problem, i.e. choosing a broker.

Technical Analysis of the Financial Market: The author of our last book, on the list, is John J. Murphy, also known as the father of inter-market technical analysis.

The write introduces technical analysis and goes on to explain the advanced concepts required to do trading.

The book is so popular among traders that many consider it as a “bible for traders”. Almost every top analyst suggests this write up in the top forex books category.

The book contains 400 charts and indicators to explain technical analysis in the most exciting way. One would also get the methods to implement all the lessons learned into real trading.

cheers!
 
Knowledge and experience are essential in forex trading. Anyone should have some basic knowledge about forex trading. FreshForex has an education section for beginners called Forex literature. Where i can go through different sections such as fundamental analysis, technical forex analysis, money management and trading psychology and lots more. FreshForex has the educational guideline and strategies for beginners and professionals. FreshForex has an advisory shop from where you can download free books about forex.
 

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