Recommended Forex Books for New and Developing Traders

Almost weekly--be it on reddit's /r/forex, our Live Trader Chat, other forums--We come across aspiring Forex traders asking the question: "What are some good books to get started or increase my skills?"

To help answer this, we put together a list of recommended books for that's relevant for any new, aspiring, or developing forex traders.

Disclaimer: While other books might be of high quality, our team has a rule to only recommend books that have been vetted by a seasoned professional (institutional) trader, and that have helped the development of a professional trader during their career. Reading a book can be an investment of not just money, but time, so we take these recommendations seriously.

Beginner / Basics

Currency Trading for Dummies - Kathleen Brooks

Your plain-English guide to currency trading Currency Trading For Dummies is a hands-on, user-friendly guide that explains how the foreign exchange (Forex) market works and how you can become a part of it. Currency trading has many benefits, but it also has fast-changing financial-trading avenues. Forex markets are always moving. So how do you keep up? With this new edition of Currency Trading For Dummies, you'll get the expert guidance you've come to know and expect from the trusted For Dummies brand now updated with the latest information on the topic. Inside, you'll find an easy-to-follow introduction to the global/Forex market that explains its size, scope, and players; a look at the major economic drivers that influence currency values; and the lowdown on how to interpret data and events like a pro. Plus, you'll discover different types of trading styles and make a concrete strategy and game plan before you act on anything.

General Forex and Trading

The Art of Currency Trading - Brent Donnelly

Now you can master the art of foreign exchange trading. While most currency trading and foreign exchange books focus on international finance theory or simplistic chart-based strategies, The Art of Currency Trading is a comprehensive guide that will teach you how to profitably trade currencies in the real world. Author Brent Donnelly has been a successful interbank FX trader for more than 20 years and in this book, he shares the specific strategies and tactics he has used to profit in the forex marketplace.

Naked Forex - Alex Nekritin, Walter Peters

A streamlined and highly effective approach to trading without indicators Most forex traders rely on technical analysis books written for stock, futures, and option traders. However, long before computers and calculators, traders were trading naked. Naked trading is the simplest (and oldest) trading method. It's simply trading without technical indicators, and that is exactly what this book is about. Traders who use standard technical indicators focus on the indicators. Traders using naked trading techniques focus on the price chart. Naked trading is a simple and superior way to trade and is suited to those traders looking to quickly achieve expertise with a trading method.

Leveraged Trading - Robert Carver

With the right broker, and just a few hundred dollars or pounds, anyone can become a leveraged trader. The products and tools needed are accessible to all: FX, a margin account, CFDs, spread-bets and futures.
But this level playing field comes with great risks. Trading with leverage is inherently dangerous. With leverage, losses and costs - the two great killers for traders - are magnified.
This does not mean leverage must be avoided altogether, but it does mean that it needs to be used safely. In Leveraged Trading, Robert Carver shows you how to do exactly that, by using a trading system. A trading system can be employed to tackle those twin dangers of serious losses and high costs.