Directory of Forex Trading Books: Reviews & Recommendations
- Samuel Morton
- Aug 23, 2023
- 5 min read
Updated: Feb 15, 2024
I have read many trading books. Read the Best Forex Trading Books post if you want my highest-recommended books. Stick with this post for Forex books on trading psychology, strategy, technical and fundamental analysis, and Forex basics.
All-Rounder Trading Books
Title: 'Come Into My Trading Room' Dr. Alexander Elder
Rating: 9/10
Summary: Come Into My Trading Room is well-rounded and provides many profound insights into various aspects of trading. His 3 M's (Method, Money Management, Mindset) are memorable and valuable.
Ideal for Trading Psychology, Trading Strategies, Risk Management
Quote: “Amateurs look for challenges; professionals look for easy trades. Losers get high from the action; the pros look for the best odds.”
Title: 'Beat The Forex Dealer' Agustin Silvani
Rating: 8/10
Summary: A book that covers unique areas of Forex trading, such as Forex brokers trading against clients, order flow in price action, stop-hunting, etc.
Ideal for ETF Trading
Quote: "From the very beginning, the FX market was designed to ensure that market 'insiders' had a considerable edge over market 'outsiders'."
Forex Trading Books on Trading Psychology
Trading Biographies & Auto-Biographies
Title: 'How I Made $2,000,000 Trading the Stock Market' Nicolas Darvas
Rating: 8/10
Summary: An inspirational, motivational, and educational read.
Ideal for Trading Strategies, Motivation
Quote: "I developed a tremendous frustration. Instead of blaming my own stupidity, I invented different reasons for my failures. I started to believe in "They." "They" were selling me dear. "They" were buying stock from me cheap. I could not, of course, tell anyone who "They" were—but that did not stop me from believing in them. Fighting "Them"—these grey ghosts at the back of the mind —made me reckless. I became stubborn. Even though stocks went on beating me, each time they hit me I just wiped off the blood and came back for more."
Title: 'Pitbull: Lessons from Wall Streets Champion Day Trader' Martin Schwartz
Rating: 10/10
Summary: Read a trading journey from beginning to end - a success story.
Ideal for Motivation, Trading Psychology, Day Trading
Quote: "The best way to stop a losing streak is to STOP! STOP THE LOSSES, STOP THE BLEEDING. Take time off and let your intellect take charge of your emotions; the market will be there when you return."
Title: 'Market Wizards: Interviews with Top Traders', Jack D. Schwager
Rating: 10/10
Summary: Learn from the best traders all in a single book!
Ideal for Motivation, Market Insights
Quote: "Throughout my financial career, I have continually witnessed examples of other people that I have known being ruined by a failure to respect risk. If you don’t take a hard look at risk, it will take you.”
Title: 'The Day Trader; From the Pit to the PC' Lewis J. Borsellino
Rating: 2/10
Summary: Not worth reading. The writer uses the book to improve his Dad's character (his Dad is a criminal) and feed his trading ego. It is the worst trading book published by Wiley Publishing.
Ideal for no one.
Quote: "Dad was so worried that his mother, who had a heart murmur, might suffer a heart attack while walking up the stairs that he carried her up three flights every day."
Forex Trading Books on Technical Analysis
Title: 'Naked Forex' Walter Peters
Rating: 8/10
Summary: It is a technical book covering price action trading strategies with clear examples—some content on trading psychology.
Ideal for Trading Strategies, Price Action
Quote: "Long before computers and calculators, trading was handled without complex technical analysis and indicators. Trading was old school—based on using only price charts—and it was simple, profitable, and easy to implement."
Title: '7 Winning Strategies for Trading Forex' Grace Cheng
Rating: 6/10
Summary: It is a technical book covering the foundation of a Forex trading strategy.
Ideal for Trading Strategies, Price Action
Quote: "This book is primarily for those who are new to the world of currency trading and are curious about how they can make money from the Forex market."
Forex Trading Books on Fundamental Analysis
Forex Trading Books for Beginners
Title: 'Fundamentals of Currency Trading' Karen Foo
Rating: 4/10
Summary: Covers the basics of Forex, fundamental and technical analysis, risk management, and trading psychology. Poorly written and published on a budget.
Ideal for New Traders, Technical Analysis, Fundamental Analysis
Quote: "What I hope to achieve in this book is to educate the typical retail trader of the right mindset and also, at the same time, help them learn the basics they need to know."
Other Trading Books
Title: 'Trading Commodities & Financial Futures' George Kleinman
Rating: 7/10
Summary: Covers the basics of currency options and futures. Very insightful. The best book for learning how to trade options.
Ideal for Forex Options, Technical Analysis, Fundamental Analysis, Risk Management, Trading Psychology
Quote: "Correct fundamental analysis can make you money, and so can a good technical plan. In either case, a good forecaster can go broke if he is not a good trader... I believe a marriage of the two, combined with a sensible money management plan, produces the best results over time."
Title: 'The Four Biggest Mistakes in Option Trading' Jay Kaeppel
Rating: 10/10
Summary: A must-read for an options trader. Short and to the point. This book will highlight where you are going wrong in your options trading.
Ideal for Forex Options
Quote: "It is essential to long-term success to be able to determine whether the current level of implied volatility is high or low for a given underlying security."
Title: 'Going for Broke, Nick Leeson and the Collapse of Barings Bank' Judith Rawnsley
Rating: 9/10
Summary: The best book available if you wish to learn about the fall of Barings Bank, why the bank collapsed, and Nick Leeson's role in the collapse.
Ideal for General Reading
Quote: "At the time of its crash, Barings was regarded as one of the world's most pre-eminent financial institutions."
Title: 'The Ultimate Guide to Trading ETFs' Don Dion, Carolyn Dion
Rating: 9/10
Summary: The best book available for learning how to trade and invest in ETFs. The advice in the book for ETF trading is invaluable. You will need a basic understanding of trading and investing to grasp what the book teaches.
Ideal for ETF Trading
Quote: "While there are a wide range of ETF choices to help put your... investment ideas to work, you need to be particularly discerning when searching for funds that will meet your investment objectives."
Title: 'The Warren Buffett Way' Robert G. Hagstrom
Rating: 9/10
Summary: An ideal book for investing in stocks and shares. The book covers top investment advice, a history of Warren Buffett, and critical insights into what Warren Buffett looks for when investing.
Ideal for Stock Investing
Quote: "Just as Buffett pays little attention to stock market prices, he is not terribly concerned with GAAP reported earnings."
Comentarios