Top Best Forex Books – It is an indisputable fact that currency market is the most liquid of all financial markets due to the obvious reason of forex dealing with money flow in a literal sense. In that sense, it also presents a unique market which, although closely related to stocks, bonds, commodities and equities markets and reflecting movements in these markets, also retains an independent character. This presents unique opportunities for short-term trading and long-term investment in currency markets which might remain invisible to the uninitiated eye. Even experienced traders would admit how difficult trading in forex could be, given its fluid nature and constantly changing equations influenced by every and any kind of international monetary exchange.
Here, we present a careful selection of books on the most complex financial markets, foreign exchange. These works present an entire spectrum of approaches to trading in currency markets which can be utilized successfully with the right kind of effort and dedication to earn big profits from this market of enigmas.
#1 – Day Trading and Swing Trading the Currency Market:
Technical and Fundamental Strategies to Profit from Market Moves (Wiley Trading)Hardcover Import, 16 Dec 2008
by Kathy Lien (Author)
- This best forex book is a comprehensive work aimed at providing a complete outline of forex trading for seasoned as well as amateur traders to be able to identify and utilize hidden opportunities for day and swing traders.
- The author lays down the basic theoretical framework for forex and discusses the evolution of currency market over the years before moving on to effective trading techniques and strategies for forex traders.
- Readers would learn how to use a number of time-tested technical as well as fundamental trading strategies to their advantage and utilize them in specific market conditions.
- Some of the key areas covered include profiling a trading environment to be able to apply specific indicators befitting this context. Traits unique to each major currency pair are discussed including when they might be most active and what drives their price action.
- This work would also expose its readers to a wider spectrum of fundamental strategies involving news events, intermarket relationships, interest rate differentials and option volatilities among other factors. On the whole, a complete work on forex trading for amateur as well as professional day and swing traders.
- On the whole, a complete work on forex trading for amateur as well as professional day and swing traders.
Best Takeaway from this best forex book
- This top forex book is a fairly detailed work which outlines both the theory and practice of forex trading for day and swing traders.
- What brings added value to the work is its emphasis on utilizing a number of proven technical as well as fundamental trading strategies which might be applied suitably by profiling a trading environment.
- A highly recommended read for day and swing forex traders to acquire advanced knowledge and skills which might help achieve better results.
#2 – Currency Trading For Dummies Paperback Import, 6 Mar 2015
by Kathleen Brooks (Author), Brian Dolan (Author)
- A masterful beginners guide to forex as one of the most complex financial markets in the world. Building upon the basics of how currency market works along with currency trading conventions and tools, the authors go on to elaborate on fundamental concepts related to currency price determinants and the art of interpreting data and events to be able to make the right moves.
- This work adopts more of a structured approach on how to get acquainted with the underlying principles and understand your trading objectives and risk appetite before making use of an entire range of tools placed at your disposal to be able to develop a personalized trading strategy.
- Readers would learn how to avoid common mistakes made by currency traders and adopt a well-defined risk management strategy to minimize the chances of failure.
- The authors lay down certain key characteristics of successful currency traders and they are able to achieve consistent results despite constantly changing market conditions.
Best Takeaway from this best book on forex
- This best forex book is an excellent beginners guide on forex market, written in an easy-to-understand language that lays threadbare complex concepts and techniques to get you going.
- The brilliant structured approach adopted in this work helps tackle the question of currency price drivers and choice of tools in a hassle-free manner and helps the readers assess their own investment objectives and appetite before adopting a unique strategy to achieve those objectives.
- A must-read theoretical and practical guide for novice forex traders.
#3 – Currency Forecasting:
Methods and Models for Predicting Exchange Rate Movements Hardcover Import, 1 Nov 1995
by Michael R. Rosenberg (Author)
- This top forex book is a classic on the dynamics of currency market and how it can be understood and exploited to the advantage of forex traders.
- Rosenberg combines technical and fundamental analysis with forex macroeconomics to create a masterpiece which continues to be a valued knowledge resource on forex trading strategies a couple of decades after it was published first.
- Considering the fast-changing dynamics of currency market, it is a stunning achievement in itself that this work continues to be of such relevance.
- Power-packed with useful information on dynamic currency analysis, the author dwells at length on the effect of interest rates, fiscal policies and utilizes concepts like balance of trade and purchasing power parity to study the rise and fall of currencies. (all see Top 10 Economic Indicator to Watch)
- The author does an outstanding job of communicating the most intricate aspects of forex trading to his readers in a concise volume of this kind.
Best Takeaway from this top forex book
- This best book on forex is a veritable masterpiece on forecasting currency movements and trends based on a combination of technical and fundamental approach with the microeconomics of forex trading.
- This work brings to light unique perspectives on studying the problem of currency price determination and retains its relevance more than two decades after its date of publication.
- In short, a concise yet detailed exposition on the subject which could be of great use to professional currency traders in learning how to improve their techniques.
#4 – Forex The Holy Grail Kindle Edition
by SIMONE SIESTO (Author)
- This book on forex is an attempt by the author to explore what could be the holy grail of currency trading by analyzing the leading financial analysis techniques employed in forex trading for their relative worth.
- One of the key points which emerges from the analysis is that merely technical indicators might not suffice to achieve consistent results nor steer one towards the ultimate concept of forex trading.
- Instead, the author describes 15 golden rules for success in forex trading while studying the moves of big players and how they can be followed with success.
- The readers would need not rely on age old technical analysis indicators or go by the advice of experts and would be equipped with the right kind of methodology required to adopt a holistic approach and understand how balance of powers works between currencies at any given point of time.
Best Takeaway from this top book on forex
- This best book on forex explores several currency trading techniques in an effort to bring to light some hidden techniques and approaches to achieve a higher level of success in forex trading.
- Synthesizing various approaches, the author lays down 15 golden rules for success in forex trading.
- This would be of immense use in being able to look beyond the accepted truths of forex trading and recognize the true pulse of market, thus providing the reader with a key to success.
#5 – A Three Dimensional Approach To Forex Trading
by Anna Coulling (Author)
- The author does a brilliant job of expounding the basic framework of currency markets and presenting a clear and workable plan for traders to pursue.
- Readers will discover why currency is the most complex of all financial markets as it controls the money flow and risk in quite a literal sense, thus making it the link between all the financial markets.
- In fact, the author goes ahead to explain the intricate web of intermarket relationships and how studying stock indexes, bond market and commodities can help find clues to the performance of currency markets as the movements in these markets almost invariably gets reflected in currency markets.
- Novice as well as experienced traders can get better at anticipating market moves by studying these associated markets and utilizing analytical techniques in an innovative manner. The author has laid stress on
- The author has laid stress on use of relational fundamental and technical analysis to unravel the inner workings of currency markets and trade with a higher level of efficacy.
Best Takeaway from this best forex book
- This top forex book is a complete treatise on currency markets which reveals its workings and how this market holds the key to understanding financial world better.
- The author makes it clear how the currency markets control money flow and risk in financial world and by studying other markets including stocks, bonds, equities and commodities one could understand currency markets at a rather subtle level.
- Instead of relying on fundamental or technical analysis or any one of their specific techniques, the author advocates using relational fundamental and technical analysis for much better results.
- A recommended read for inexperienced as well as seasoned currency traders to enhance their understanding and expand their arsenal of trading techniques.
#6 – The Sensible Guide to Forex:
Safer, Smarter Ways to Survive and Prosper from the Start (Wiley Trading) Hardcover Import, 2 Oct 2012
by Cliff Wachtel (Author)
- This best forex book is specifically meant for risk-averse traders who would not like their portfolios to be devalued as leading currencies continue to lose their value.
- The author outlines an approach which would help long-term investors effectively reduce risk and the kind of coplexity often associated with forex trading, while taking lesser time for execution and achieving desired results.
- Forex traders with a view of long-term investment would learn about how to effectively hedge currency ris by creating diversified portfolios in terms of currency exposure and asset class.
- This would help consolidate higher capital gains and income while lowering the level of risk. This work would introduce traders to advanced trading tools including forex binary options and social trading accounts which can be of immemse help in improving trading performance.
- The author lays stress on the fact that irrespective of how other markets are faring, currency markets can always present interesting opportunities which can be exploited with careful planning and execution of balanced investment strategies develop specifically for currency markets.
Best Takeaway from this best book on Forex
- This is a compendium of useful information on long-term investment strategies for currency traders, which is considered somewhat of a grey area considering the fluid nature of currency markets.
- This work analyzes this very fluid nature of forex and how it can be utilized to advantage of traders and a strategy adhered to which minimizes risk and improves chances of returns in the long-term.
- Excellent strategies and methods for hedging currency risk are discussed which would help create low-maintenance and high-performance portfolios for traders.
- A highly recommended read for long-term currency traders.
#7 – The 10 Essentials of Forex Trading:
The Rules for Turning Trading Patterns Into Profit Hardcover Import, 1 Feb 2007
by Jared Martinez (Author)
- This is a practical guide to using effective trading tools and techniques for currency markets and ensure positive returns with minimal risk.
- The author presents 10 essentials to succeed at forex trading for novice as well as experienced traders and shows how to combine these techniques effectively.
- Charting methods can be used successfully to identify underlying trading patterns and make smart moves for higher profits.
- Some of the important areas covered in this work include a detailed analysis of support and resistance levels, creating consistent entry and exit strategies, using Japanese Candlesticks to identify market rhythms and using Fibonacci efficiently.
- Sideways market movements and how to benefit from these is also discussed at length.
Best Takeaway from this best forex book
- This best forex book is a Straight-to-the-point practical guide for forex traders looking for useful techniques which they can understand apply with limited effort to achieve desired results.
- Some of the techniques covered are charting methods and how they can be effectively used to trade the patterns for profit.
- Japanese Candlestick charting is also taken up as a useful tool for currency trading along with use of Fibonacci which has some unique applications in trading.
- Overall, a must read for practical currency traders of any level of experience and knowledge.