What do you gain from reading books? Knowledge? Entertainment? Self-continuity?
All these are benefits you derive from reading books. The most critical aspects of becoming a successful trader are acquiring the right knowledge by reading the best forex books available.
Why should reading be a top priority to forex traders?
Forex trading books provide a foundation upon which you can build successful trading strategies. Also, you will be able to understand how to select good quality forex pairs.
Furthermore, the world of forex trading can be daunting even to the most experienced investors. Thus, the need for forex books that will help trader manage their trades. And also at the same time minimize risks associated with forex trading.
So, without further delay, here is our list of the best forex trading books you must read in 2019.
The Death of Money
This is a fast-paced book that looks at the financial future. It takes into consideration the greed of the financiers, incompetence of the central bank and the danger of the over-reliance on the US Dollar as a reserve currency.
It focuses mainly on two assumptions theories;
- The recession of 2007-2008 has been structural and the central banks have been using the wrong tools assuming it is the cynical situation.
- Gold is the only ‘true money’
Although neither of the assumptions has been sufficiently supported by this forex book. The book is written in a simple language. Expanding traders financial understanding by linking the basic knowledge and the prevailing economic situation of the world.
Forex for Traders- Ann Coulling
If you are new in forex trading, this book is then worthy of your collection. Its author Ann Coulling, is a full-time trader who has been in the financial market for over 20 years. This means she is knowledgeable about everything in the Forex trading market.
This book will provide you everything you need to know as a beginner Forex trader. It provides extensive knowledge of the domain of buying and selling currencies.
Japanese Candlestick Charting Techniques- Steve Nilson
Steve Nilson’s book is credited with introducing this versatile technical analysis tool. That is now widely used by forex traders, especially in the western world. The book provides an in-depth analysis of the candlestick charting technique. Which is also used for speculation, hedging, and equalities.
This is the most ideal book for those traders seeking to up their trading strategy game. In addition, other books from Nilson that might prove beneficial to traders include; strategies for profiting with Japanese candlestick charts and New Japanese Charting Techniques Revealed.
Forex Trading: The basics Explained in Simple terms- Jim Brown
Jim Browns is self-taught forex traders who become intrigued with the currency exchange and private gathering of stock traders. The book is written in a simple and concise language. It is not condescending; hence it doesn’t take the readers knowledge for granted.
This might be one of the best books to introduced new traders to the basics of forex trading. Some of the basics covered in this book include.
- Strategies for entries and exits
- The ins and outs of forex pairs
- Trading psychology
- Definitions of forex and forex markets
The Disciplined trader- Mark Douglas
This groundbreaking work was published in 1990. Here, Mark examines the causes as to why most traders cannot raise and keep their equity on a consistent basis. It also brings the reader to a practical and unique conclusion on how to go about changing any limiting mindset.
In this book, Douglass tackles the thought process behind decision making using stories and personal examples to drive his points home.
Additionally, the trader is taken through a step-by-step process that helps them understand that actually, their very thoughts might be limiting their ability to accumulate and succeed at trading.