Best Forex Trading Books

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Top 16 Forex Trading Books [Updated 2021]

As technology and communication have advanced to unscaled heights and no boundaries are existing between countries, foreign exchange has become an inseparable part of the economy today. We provide a heads up to the top best forex trading books. Below is the list of such books –

  1. FOREX TRADING: The Basics Explained in Simple Terms ( Get this book )
  2. The Death of Money: The Coming Collapse of the International Monetary System ( Get this book )
  3. How to Start a Trading Business with $500 ( Get this book )
  4. Forex Trading Money Management System ( Get this book )
  5. FOREX: Using Fundamental Analysis & Fundamental Trading Techniques to maximize your Gains ( Get this book )
  6. Foreign Exchange Option Pricing: A Practitioner’s Guide ( Get this book )
  7. The Black Book of Forex Trading ( Get this book )
  8. Forex: A Beginner’s Guide To Forex Trading, Forex Trading Strategies ( Get this book )
  9. The Simple Strategy ( Get this book )
  10. Currency Trading For Dummies ( Get this book )
  11. Day Trading and Swing Trading the Currency Market: Technical and Fundamental Strategies to Profit from Market Moves ( Get this book )
  12. Currency Forecasting: Methods and Models for Predicting Exchange Rate Movements ( Get this book )
  13. Forex The Holy Grail ( Get this book )
  14. A Three Dimensional Approach To Forex Trading ( Get this book )
  15. The Sensible Guide to Forex: Safer, Smarter Ways to Survive and Prosper from the Start ( Get this book )
  16. The 10 Essentials of Forex Trading: The Rules for Turning Trading Patterns Into Profit ( Get this book )
Forex Trading Books

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#1 – FOREX TRADING: The Basics Explained in Simple Terms

by Jim Brown

Forex Trading: The Basics Explained in Simple Terms (Bonus System incl. videos): The Bonus System includes his personal indicators in MT4/MT5 and TradingView ... Stocks, Currency Trading, Bitcoin Book 1)

Key Takeaways

It is of great use for those who have started trading Foreign exchange and require appropriate guidance, given the abundance of information on the internet. It is a good book for gaining understanding from the very basic. The author has also mentioned one of his Trading systems and the indicators without any further costs associated.

The essential concepts and principles have been covered in a direct manner and a simple language. Examples that traders encounter in daily work have also been highlighted for the readers to have a practical understanding.

<< Get this book >>

#2 – The Death of Money: The Coming Collapse of the International Monetary System

by James Richards

The Death of Money: The Coming Collapse of the International Monetary System

Key Takeaways

The US Dollar has been the centerpiece of the world economy since World War II, and its performance can have a ripple effect on the financial condition of other countries around the globe. This book is a fast-paced look at the financial future, taking into consideration the greed of the financiers, incompetence of the central bank, and dangers of over-reliance on the US Dollar as the Reserve currency.

The 2008 Global Financial crisis has haunted the US economy, and the FED is paying the price for helping the bankers. It is forced to print money to create inflation for offsetting the deflationary effects of the debt overhang from the banking crisis. The Government borrowing ability is required to come as a savior to Wall Street. The drawbacks of Devaluation due to excess printing, reducing the intrinsic value have also been extensively mentioned. The author has made 2 assumptions for arriving at given theories:

  • The Recession of 2007-08 has been structural, and the Central banks have been using the wrong tools, assuming it is a cyclical situation.
  • Gold is the only ‘true money.’

Neither of the assumptions has been sufficiently supported by this book. However, it is written in simple language, and one can expand their financial understanding by linking the basic financial knowledge and the prevailing economic situation in the world.

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#3 – How to Start a Trading Business with $500

by Heiken Ashi Trader

How to Start a Trading Business with $500

Key Takeaways

Most of the new traders who start their business have very little means of raising capital. This top forex trading book highlights a realistic way of how one can become a full-time trader with limited capital, including private traders. It provides a step by step guidance on how to approach trading business with a capital of as low as $500. However, this foreign exchange trading bookTrading BookTrading book is the type of book maintained by the bank, financial institution or a stockbroker banks for recording the transactions of the clients who have given them an opportunity to act as the broker or middle person for dealing in securities. read more will not highlight on how to expand the business rapidly to a large target, say $100,000. Some of the other important components of the book are:

  • How should one acquire and smoothly implement Good Trading Habits
  • How to be a Disciplined Trader
  • Social Trading
  • Communication skills with Broker
  • How to be a Professional Trader
  • Maximize returns from the available $500 and make it feel a very large amount
  • Trading activities for a Hedge Fund
<< Get this book >>

#4 – Forex Trading Money Management System

by Don Guy

Forex Trading Money Management System: Crush the Forex Market with Bigger Profits and Smaller Losses!

Key Takeaways

This book contains a simple theory provided by the author, which reverses the FOREX market movement with a Simplified money management system and aids in maximizing profits. The cover of the book highlights this difference, which shows the performance of the market with and without the system.

It is popularly called as ‘Roulette Trader Money Management’ which implements reverse engineering to magnify profits while simultaneously reducing drawdown in most of the scenarios. The author has once visited a Casino in Las Vegas, whereby he made a loss of $2000 while playing Russian roulette. In order to counter the same, this system was established to ‘Crush Financial Markets like a Professional Gambler.’ This system can be automated and can be used manually, as well.

Post developing the system, the author returned to Las Vegas with $20 and turned it into a profit of $500 in a time span of 1 hour, which was locked in from the automatic profit locking mechanism, and the same gets applicable in financial markets as well. The cover page will itself highlight how the profit is almost 4 times greater, and the maximum drawdown is only about one-third the size.

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#5 – FOREX: Using Fundamental Analysis & Fundamental Trading Techniques to maximize your Gains

by Dave Matias

Forex: Using Fundamental Analysis & Fundamental Trading Techniques to maximize your Gains. (Forex, Forex Trading, Forex Strategy, Forex Trading Strategies, ... Forex Trading Books, Trading Strategies)

Key Takeaways

This edition will lay its focus on the importance of Fundamental Analysis in the movement of the FX Markets. Fundamental Analysis is the base of trading and a primary driver of FX flows and also provides one with the practical knowledge and understanding, which is unique. The market is very volatile in nature and is sensitive to any kind of micro and macro releases and hence making use of such Fundamental analysis is of high importance.

Though one should not neglect Technical Analysis, one needs to keep a blend of both this analysis. This book will highlight the following aspects:

  • Myths of Fundamental Trading
  • How can Macro and Micro events influence the market
  • Currencies and Bonds
  • Usage of Practical examples and use of models in Fundamental Trading
  • Global Market Flows and other Important Trading Concepts
  • Trade and Capital flow in relation to the FX market.
<< Get this book >>

#6 – Foreign Exchange Option Pricing: A Practitioner’s Guide

by Iain J. Clark

Foreign Exchange Option Pricing: A Practitioner's Guide

Key Takeaways

This publication will cover all the aspects of FOREX options from the point of view of a Finance Practitioner and contains all essential information that a trader or quantitative analyst is required to possess working in a bank or a hedge fund. It covers up the theoretical mathematics aspect as well as the comprehensive coverage of implementation, pricing, and calibration.

The content is developed with inputs from traders and real-life examples. It also will introduce to the more commonly requested products from the FX options trading desksTrading DesksA trading desk is a section within a bank or company that buys and sells securities such as bonds, shares, currencies, and commodities to facilitate their own or clients' trades in the financial markets, ensuring market liquidity.read more along with various models capturing the risk characteristics essential for accurate pricing of the products. Another aspect covered is the numerical methods required for calibration of these models, a crucial component in practice but often neglected. Robust treatment is given to the following features:

  • Precise Market conventions for FX volatility management
  • Adjustment for settlement and delayed options delivery
  • Pricing of Vanilla and Barrier options contract under volatile conditions
  • Three-Factor long-dated FX model
  • Numerical Calibration techniques for all the models under consideration
  • Adopting variable approaches for strongly path-dependent options using either partial differential equations or Monte Carlo simulation.

Connecting the mathematically robust theory with live practical scenarios, this guide is essential to FOREX options in the context of the real-life market place.

<< Get this book >>

#7 – The Black Book of Forex Trading

by Paul Langer

The Black Book of Forex Trading: A Proven Method to Become a Profitable Trader in Four Months and Reach Your Financial Freedom by Doing it

Key Takeaways

The contents of this edition are crafted after multiple years of testing and getting fingers burnt in the volatility of the financial market. One can follow the success stories of those who have made it big in the financial world, but few will understand the skills and swiftness one learns after going through failure, and this book highlights the same.

This book is targeted for beginners to intermediate traders who are still struggling to make it big in the trading world and can be equipped with rugged tactics to handle complex situations as well. It will cover the 3 main areas in Forex trading:

  • How to construct a definite winning strategy adhering to the personal lifestyles and requirements.
  • Ways to optimize and maximize gains without taking unnecessary risks.
  • Traders are required to take control of their emotions and biases while execution and follow a few simple steps to be followed while trading.

Certain other aspects which are covered are:

  • Combatting struggling market scenarios
  • Start earning money on a consistent basis
  • Tactics to become a successful trader in 4 months
  • Ensuring one can plan their financial freedom within the specified boundaries and limitations
  • Gain sufficient confidence to trade with the appropriate knowledge and numbers in place.

The size of the book is relatively less but the knowledge it imparts is significantly irreplaceable and can be adopted under complex situations for a long period of time.

<< Get this book >>

#8 – Forex: A Beginner’s Guide To Forex Trading, Forex Trading Strategies

by Matthew Maybury

Forex: Guide - 3 Manuscripts: A Beginner's Guide To Forex Trading, Forex Trading Strategies, Forex Tips & Tricks (Forex, Forex Strategies, Forex Trading, Day Trading Book 5)

Key Takeaways

It will focus on 2 broad areas: one is a beginner’s guide to FOREX trading, and the other is Best strategies or High Profit and reduced risk.

The beginner’s guide provides a blueprint to build a trading plan with the use of Forex and how one can maximize their earnings with the same. It will highlight the absolute basic components towards an introduction to the $2000 billion forex market. This foreign exchange book enhances how an individual should strive to create a pool of money depending on their financial needs over a period of time for certain events like marriage, retirement, etc. One can gain a profit margin in the range of 70-90% following simple rules of the FOREX market.

The second aspect will focus on the Best Forex Trading Strategies for high profit and reduced risk. One can become an expert in FOREX with the use of several different strategies required to make a successful trader. Additionally, for an experienced trader, they can explore a strategy that must not have been encountered before. Hence, if one is a reader to gain knowledge of the foreign exchange or as a daily task, this book will teach the following:

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#9 – The Simple Strategy

by Markus Heitkoetter

The Simple Strategy - A Powerful Day Trading Strategy For Trading Futures, Stocks, ETFs and Forex

Key Takeaways

This top forex trading book is a powerful trend-following day trading strategy for the trading of futures, stocks, ETF’s, and FOREX. The popularity has increased due to the following reasons:

  • Clear Entry Rules are based on specific indicators such as the MACD above the zero lines or not, and the entries are easy to identify and execute.
  • Clear Exit Rules whereby one will have a clear idea to exit the market at the time of taking the position. This way, one can manage the quantum of risk to be assumed for the sizing of the positions and money management. One can also keep the trade on auto-pilot once the entry order is filled, keeping the trade management to a minimum and thereby reducing costs.
  • Taking advantage of Small Intra-day trends: Trading can be executed on the beating of a pulse, and one may not necessarily wait for the trading day to be completed. This forex trading book will offer tips to tackle such situations as well.
  • Sophisticated Trading Software is not required: A simple charting software with basic capabilities is required for plotting Range Bars, Bollinger Bands, MACD, and RSI. One is not required to purchase any proprietary indicators or expensive charting software.
<< Get this book >>

#10 – Currency Trading For Dummies

by Kathleen Brooks

Currency Trading For Dummies, 3rd Edition (For Dummies (Business & Personal Finance))

Key Takeaways

This is a user-friendly guide explaining the functioning of a FOREX market and how one can benefit from the same. It offers easy to follow introduction to the Global FOREX market, which explains the size, scope, players, and other major economic drivers that influence currency values and how to interpret the data and events in a channelized manner. One will explore various trading styles for constructing a concrete strategy and a game plan for execution. The areas to focus on are:

  • Currency Trading convention and its tools
  • Providing an insider’s look at key characteristics of established and successful currency traders.
  • Understanding the importance of organization and preparation
  • Offering guidance on the pitfalls of trading to be avoided and rules to manage various kinds of risks.

This best forex trading book will go to the grass root levels for trading and will enhance the mechanics of trading on how the currencies are traded, pairing of currencies, understanding price quotes, how the global trading day flows, and so on. Subsequently, one can put their knowledge and intuition to test by getting a practice trading account with an online foreign brokerage before actually putting money in the real market.

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#11 – 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)

Day Trading and Swing Trading the Currency Market: Technical and Fundamental Strategies to Profit from Market Moves, 3rd Edition (Wiley Trading)

Book Review

Key Takeaways

  • This book is a fairly detailed work that outlines both the theory and practice of forex trading for the day and swing traders.
  • What brings added value to the work is its emphasis on utilizing a number of proven techniques as well as fundamental trading strategies that might be applied suitably by profiling a trading environment.
  • A highly recommended read for the day and swing forex traders to acquire advanced knowledge and skills, which might help achieve better results.
<< Get this book >>

#12 – Currency Forecasting:

Methods and Models for Predicting Exchange Rate Movements Hardcover – Import, 1 Nov 1995

by Michael R. Rosenberg (Author)

Currency Forecasting: A Guide to Fundamental and Technical Models of Exchange Rate Determination

Book Review

Key Takeaway

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#13 – Forex The Holy Grail Kindle Edition

by SIMONE SIESTO  (Author)

FOREX THE HOLY GRAIL

Book Review

Key Takeaway

  • 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 the market, thus providing the reader with the key to success.
<< Get this book >>

#14 – A Three Dimensional Approach To Forex Trading

Kindle Edition

by Anna Coulling  (Author)

A Three Dimensional Approach To Forex Trading

Book Review

  • 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 the 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 get 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 the use of relational fundamental and technical analysis to unravel the inner workings of currency markets and trade with a higher level of efficacy.

Key Takeaway

  • This book is a complete treatise on currency markets, which reveals its workings and how this market holds the key to understanding the financial world better.
  • The author makes it clear how the currency markets control money flow and risk in the 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.
<< Get this book >>

#15 – 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)

The Sensible Guide to Forex: Safer, Smarter Ways to Survive and Prosper from the Start (Wiley Trading)

Book Review

Key Takeaway

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#16 – The 10 Essentials of Forex Trading:

The Rules for Turning Trading Patterns Into Profit Hardcover

by Jared Martinez (Author)

The 10 Essentials of Forex Trading: The Rules for Turning Trading Patterns Into Profit

Book Review

  • 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 the 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 a 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 are also discussed at length.

Key Takeaway

  • 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 the 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.
<< Get this book >>
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Here is the guide to Forex Trading Books. Here we provide the list of top 10 forex trading books & a sneak peek in what those books reviews & key takeaways. You may refer to the following books to learn more –

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