Learning to trade forex may be an easier task if you have previous experience in the stock, futures or options markets, but if you are completely new to the world of trading you will need to start by learning the basics. Reading books specialized in forex trading is perhaps the most useful way when you are taking your first steps in this exciting world.
These books have helped hundreds of traders:
- Getting Started in Currency Trading by Michael Archer and Jim Pickford.
This book on forex trading explains all aspects of this exciting world, from the most basic to advanced topics. All in a simple and easy to understand manner which makes it even more beneficial for new traders.
- Trade Your Way to Financial Freedom by Van K. Tharp.
The author of this book is one of the foremost trainers in the world of trading as well as an expert in the behavioral aspects of financial markets. The book covers the most problematic aspects of currency trading such as the influence of emotions and feelings, position sizing and system development.
- Encyclopedia of Chart Patterns by Thomas Bulkowski.
This book takes the form of a veritable encyclopedia except that it replaces the words with precise definitions and descriptions of chart patterns, which are of great importance to technical analysis traders and are often used as the basis for many forex trading systems and strategies. This comprehensive encyclopedia includes descriptions, statistics, recommendations, and examples of all chart models.
- Beat the Forex Dealer by Agustin Silvani.
This book is not primarily aimed at newcomers to the world of forex, but I would recommend reading it immediately once you have acquired the basic knowledge of trading and gained some practical experience. This book will help you develop a forex trading strategy in the real market as well as how to live with the world of currency trading without problems.
- The Disciplined Trader by Mark Douglas.
One of the most important hallmarks of a successful forex trader is self-discipline. Unfortunately, many of us miss this important virtue. This book talks about discipline in trading and what advantages you will gain from adhering to it, and how to achieve the goals you aspire to without facing psychological pressure.
This list is an important reference for novice traders who are still taking their first steps in the world of trading and may not know where to start.
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