Excellent Forex Books for Beginners

If you want to better understand forex but lack experience, here are some great books to get you started.

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The foreign exchange market, also known as the forex market, is an exciting area of trading in which you can trade currencies, providing an excellent opportunity to capitalize on market trends and generate substantial returns.

However, this isn’t always the easiest process, and forex trading comes with a steep learning curve, which can be off-putting to many beginners. Thankfully, there are many books and resources aimed at helping newcomers become more familiar with this trading style.

In this article, we’ll look at some of these books, exploring how they can benefit beginners looking to get started on their journey to forex success.

Currency Trading for Dummies by Kathleen Brooks and Brian Dolan

As you would expect from a book in this series, Currency Trading for Dummies is a great starting resource for anybody who might not be familiar with forex trading. Authors Kathleen Brooks and Brian Dolan do an excellent job covering everything from the simple fundamentals to advanced strategy planning.

All of the information is presented in an easy-to-digest format that helps beginners understand the information presented, reducing the chance of it simply going over their heads. Brooks and Dolan break down complex concepts into understandable chunks, making it an excellent starting point for anybody wanting to establish a solid foundation in the currency trading world.

Japanese Candlestick Charting Techniques by Steve Nison

If you want to experience success in the forex trading world, you need to understand price action and the impact that price movement can have. Japanese Candlestick Charting Techniques, written by Steve Nison, is a great book to help you master the subject.

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Generally seen as the go-to resource for this aspect of forex trading, Nison does an excellent job of introducing readers to candlestick charting and explaining how it can provide valuable analysis insights into market sentiment and price movements. This is all done with simple, understandable explanations and countless real-world examples, so you can be sure that there is merit to what Nison says.

Day Trading and Swing Trading the Currency Market by Kathy Lien

If you want to develop a short-term trading strategy and would rather not become too immersed in the complex world of advanced trading, Day Trading and Swing Trading the Currency Market, written by Kathy Lien, is an excellent resource.

Lien provides advice to help beginners capitalize on same-day and swing trading opportunities within the forex market, covering key topics such as technical analysis and risk management. This book covers all the essential aspects of short-term trading, making it an essential book for newcomers in the forex trading world.

Forex Trading: The Basics Explained in Simple Terms by Jim Brown

This book lives up to its title in providing beginners with a straightforward introduction to the basics of currency trading, which is essential.

Brown is excellent at avoiding confusing or needlessly complex jargon and instead focuses on providing helpful advice that beginners can immediately apply when trading. If you find complex jargon off-putting or would like a more gentle introduction to the forex world, this book is an excellent resource to help you master the basics and ensure you have a sound understanding.

The Disciplined Trader: Developing Winning Attitudes by Mark Douglas

As a trader, your discipline can make or break your well-planned strategies, which is why it’s such an essential skill and mentality to master. In his book, Mark Douglas looks at the importance of having the right mindset to be a successful trader and what can be done to further develop this mentality.

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By sharing impactful insights and working through various exercises, Douglas can help readers overcome various psychological barriers that can hurt their ability to make effective decisions when operating in the forex market. The Disciplined Trader: Developing Winning Attitudes is one of the best books you can read if you’re a forex novice who wants to develop stronger discipline and mental resilience.

Technical Analysis of the Financial Markets by John J. Murphy

Technical analysis is essential to success when you’re trading currencies, but it’s also something that can scare away many beginners, most of whom will not understand what this actually is.

John J. Murphy’s Technical Analysis of the Financial Markets is a must-read book that’ll help make this complex topic appear much simpler and manageable, covering everything from technical indicators and chart patterns to analyzing price movements and identifying potential trading opportunities. Whether you’re a novice trader or have some experience, this book offers valuable insights into the complex world of technical analysis.

Finding the Right Book

Getting started on your journey into the world of forex trading can be both exciting and intimidating for beginners and those without much experience. However, these books and resources can help newcomers follow the right path when embarking on their trading journey. Whether you’re looking to better understand the basics of currency trading or explore some of the more advanced areas, such as strategy planning, the books we’ve mentioned above offer valuable insights and guidance.


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