Forex trading can be an extremely daunting thing to do, even for the more experienced traders. When you are in the situation that you want to trade, but you are unsure about how to, there is a wealth of information on the internet. However, that can be a minefield of searing for the right information. One of the best options that you have is to buy one or more of the best Forex books for beginners and reading them from cover to cover.
The books that you will find can range from basic introductions to the subject, right through to technical analysis of the trading principles. While it is not the best idea to jump straight into the technical side of it, it is certainly handy to have the books to read when you get to the point that you need them.
Best Forex Books For Beginners
Knowing exactly which books are the “best” is a little bit of a decision, you have to make yourself. That is because each person will feel differently about the explanations that are in each of the books. However, we have compiled a list of various books that have withstood the test of time so that you have a variety of them to read.
For the reason that I have said above, I will not be putting these into any specific order. It would be easy to put them into an order based on something such as sales volume, but that doesn’t mean that all of the readers gained a significant amount of knowledge through them. So, here is a quick list of the books we think will help you to become a Forex pro:
- Currency Trading For Dummies (3rd Edition). – Kathleen Brooks & Brian Dolan
- Trading Forex for Beginners 2020: The Advanced Guide That Will Make You the King of Forex Traders. – Martin Satoshi
- Forex For Beginners. – Anna Coulling
- Forex Trading for Living 2020: A Guaranteed Income for Life, Currency Trading, Foreign Exchange, Trading Strategies. – Robert Basket
- Stock Market Investing for Beginners: 3 Books for Investing in 10 Days in 2019: – Stock Trading, Trading Psychology, and Forex Trading. Learn the Bases with Simple, Profitable, and Proven Strategies. – Henry Hill
Currency Trading For Dummies (3rd Edition)
One of the most respected series of books in the world, the “for dummies” books have gained massive traction in teaching complete newbies a range of subjects, and Forex is no different.
One of the best aspects of this book is that one of the authors of the book is Brian Dolan; he has been an iconic name in the Forex world for a long time. He started his career in 1993 as a Director/FX Trader with American Express and worked for numerous companies within similar roles. He now works as the Founder and Chief Investment Strategist for his own company, Talos Asset Management. Therefore, you know that you are going to be getting a great insight into the world of Forex, reading anything that he has written.
Some people may read that and think that the Currency Trading For Dummies may be a little too intense. However, on the contrary, it is a beautiful book that explains everything from terminology right through to strategies. Even some of the financial media use the book as a resource for their own publications and reference. So, not only is this book great for beginners, but it is also just as useful for seasoned traders who just need a refresher.
Trading Forex for Beginners 2020: The Advanced Guide That Will Make You the King of Forex Traders
Martin Satoshi may not have quite the same standing as Brian Dolan does, but that certainly doesn’t mean that this book is not worth the money. Some may think that the book has sold so well because of the name Satoshi. However, that is certainly not to be mistaken for Satoshi Nakamoto. While a book written by Mr. Nakamoto would be one of the best reads out there, it may not help in the realm of Forex anywhere near as much as the Trading Forex for Beginners book does.
As you can see by the cover, Martin claims that the book will teach you from beginner through to becoming the king of Forex trading. While that seems like a little overstatement of the book, it is only as good as the action that the reader takes. Having said that, though, there are a vast number of methods that you can use in this book, and they are arguably more up to date than any of the other books in this article.
If you look hard enough, you can get this at a fraction of the price of the others, too. Therefore, we think that you would be missing out on not checking this book out.
Forex For Beginners
Anna Couling has been regularly interviewed and published because of her expertise in trading, and that stands you in good stead for learning from her books. While Forex for beginners is not the only book she has written, it is undoubtedly one of the more prominent in the realms of learning Forex as a beginner. This book is also aimed at getting you from a beginner to at least an intermediate trader, and it is written so well that it may take you further than that, too.
As the title suggests, you can go into this book completely blind to the meanings of the terminology around Forex, and you can come out the other side with a solid understanding of it. In fact, the book has a single question on the first page: Who is this book for? Part of the answer says it is:
To explain in a simple, clear and logical way, everything you need to understand, to get started.
The book starts with a “What is Forex Trading” chapter, right through to explaining how to use the MT4 platform and how to trade with it and everything in between. Therefore, you know that this is going to be a useful weapon in the Forex arsenal of any trader.
Forex Trading for Living 2020
Robert writes this book in such a way that any beginner can pick it up and learn something. Even if you have read all three of the other books in this article, this one should not pass you by like a trading opportunity. While you are reading it, you can see that it is written with a beginner’s mentality in mind. However, the concepts, ideas, and analysis that it goes into are not only for the beginner.
There are five main sections to this book, and they are:
- How to start forex trading
- The history of Forex an currency exchange
- How to achieve financial stability by trading currencies
- How to develop good chart reading skills
- How to become an emotionally balanced buyer and not losing money due to emotions
There are a few of these that I find to be extraordinarily useful to the beginner. For example, your chart reading skills probably need brushing up on, and emotions are extremely dangerous when it comes to trading with Forex. So, even if you only buy the book for those two sections, this will not be a waste of money.
Stock Market Investing for Beginners
Two of the best Forex books for beginners all in one, with an added bonus of stock trading, too. While a lot of the books that you can find are more of a “one-track mind” when it comes to options within Forex, this book is slightly different. It covers the fundamentals and technical analysis aspects of Forex, but it also includes the lesser covered topic of trading psychology. If you have read about the Forex Trading for Living 2020 book above, then you will know that emotions are a huge downfall to many people.
The psychology book within this trio is worth buying alone. However, as it comes with Henry’s view on the Forex market, too, you don’t want to miss out on it.
Usually, I would end an article with a decision on which of the books you should buy, or which product we feel is the best. However, with this article, things are a little different. That is simply because it is so difficult to decide one over the other. All of the books have points that are not covered in the other books, and we feel like there should be no stone left unturned in the unpredictable area of Forex.
If you are serious about learning Forex trading, and you are anything other than a seasoned pro, you should have all of these books in your library.