View source for Recommended Forex Books for New and Developing Traders

Almost weekly--be it on [https://www.reddit.com/r/Forex/ reddit's /r/forex], our [[Live_Public_Trading_Chatroom | Live Trader Chat]], other forums--We come across aspiring [[Forex]] [[Trader_Types | 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_your_Trading_Process | developing forex traders]].

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

==Beginner / Basics==

''(Yes, I know it's a 'for dummies' book, but if you want a physical book to read and reference as you start your journey into the world of [[Forex]]: This book provides one of the better, well rounded, introductions to [[Forex | FX]]. Seriously.)''

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| width="140" | [https://geni.us/vrbCurrencyForDum https://i.imgur.com/yNf8chA.jpg]
| '''[https://geni.us/vrbCurrencyForDum Currency Trading for Dummies - Kathleen Brooks]''' <br> <br> Your plain-English [[Essential_Forex_Trading_Guide | guide]] to [[Currency]] [[Trading]] For Dummies is a hands-on, [[Essential_Forex_Trading_Guide | user-friendly guide]] that explains how the [[Forex | 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 | Forex markets]] are always [[Technical_Analysis#Moving_Averages | moving]]. So how do you keep up? With this new edition of [[Currency]] [[Trading]] For Dummies, you'll get the [[Essential_Forex_Trading_Guide | 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 | Forex market]] that explains its size, scope, and [[Institutional_and_Retail_Traders | players]]; a look at the major [[Central_banks | economic drivers]] that influence [[currency]] values; and the lowdown on how to interpret [[Economic_data_releases | data]] and [[Economic_data_releases | events]] like a [[Institutional_and_Retail_Traders#What_is_an_Institutional_Trader? | pro]]. Plus, you'll discover different types of [[trading]] styles and make a [[Fundamental_and_Sentiment_Trading_Strategies | concrete strategy]] and [[Having_an_Edge_in_your_Trading | game plan]] before you act on anything.
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==General Forex and Trading==

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| width="140" | [https://geni.us/vrbArtOfCurrency https://i.imgur.com/KRsPCdD.jpg]|| '''[https://geni.us/vrbArtOfCurrency The Art of Currency Trading : A Professional's Guide to the Foreign Exchange Market]''' <br> <br> Now you can master the art of [[Forex | foreign exchange]] [[trading]]. While most [[currency]] [[trading]] and [[Forex | foreign exchange]]e books focus on international finance theory or simplistic [[Technical_Trading_Strategies | chart-based strategies]], The Art of Currency Trading is a [[Essential_Forex_Trading_Guide | comprehensive guide]] that will teach you how to profitably [[Trading | trade]] [[Currency | currencies]] in the real world. Author Brent Donnelly has been a successful [[Interbank_market | interbank]] [[Forex | FX]] [[Trader_Types | trader]] for more than 20 years and in this book, he shares the [[Fundamental_and_Sentiment_Trading_Strategies | specific strategies]] and [[Pre-Trade_Considerations | tactics]] he has used to profit in the [[forex]] marketplace. 
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| width="140"| [https://geni.us/vrbNakedForex https://i.imgur.com/thM71RC.jpg]||'''[https://geni.us/vrbNakedForex Naked Forex - Alex Nekritin, Walter Peters]''' <br> <br> A streamlined and highly effective approach to [[trading]] without indicators Most [[forex]] [[Trader_Types | traders]] rely on [[Technical_Analysis | technical analysis]] books written for [[Fundamental_Analysis#Equities | stocks]], [[Futures_Market | futures]], and option [[Trader_Types | traders]]. However, long before computers and calculators, [[Trader_Types | traders]] were [[trading]] naked. Naked [[trading]] is the simplest (and oldest) [[Pre-Trade_Considerations | trading method]]. It's simply [[trading]] without [[Technical_Analysis | technical indicators]], and that is exactly what this book is about. [[Trader_Types | Traders]] who use standard [[Technical_Analysis | technical indicators]] focus on the [Technical_Analysis | indicators]]. [[Trader_Types | Traders]] using naked [[Fundamental_and_Sentiment_Trading_Strategies | trading techniques]] focus on the [[Chart_Patterns | price chart]]. Naked [[trading]] is a simple and superior way to trade and is suited to those [[Trader_Types | traders]] looking to quickly achieve expertise with a [[Pre-Trade_Considerations | trading method]].
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| width="140"| [https://geni.us/vrbLeveragedTrading https://i.imgur.com/CQgiwQj.jpg]|| '''[https://geni.us/vrbLeveragedTrading Leveraged Trading - Robert Carver]''' <br> <br> With the right broker, and just a few hundred [[US_dollar | dollars]] or pounds, anyone can become a leveraged trader. The products and [[Trading_Tools | tools]] needed are accessible to all: [[Forex | FX]], a margin account, CFDs, spread-bets and [[Futures_Market | futures]].
But this level playing field comes with great [[Risk | risks]]. [[Trading]] with leverage is inherently dangerous. With leverage, losses and costs - the two great killers for [[Trader_Types | 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.
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==Charts and Technical Analysis==

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| width="140"| [https://geni.us/vrbArtScienceTech https://i.imgur.com/lXXR7sa.jpg]|| '''[https://geni.us/vrbArtScienceTech The Art and Science of Technical Analysis - Adam Grimes]''' <br> <br> A breakthrough [[trading]] book that provides powerful insights on profitable [[Chart_Patterns | technical patterns]] and [[Technical_Trading_Strategies | strategies]] The Art and Science of [[Technical_Analysis | technical analysis]] is a groundbreaking work that bridges the gaps between the academic view of markets, [[Technical_Analysis | technical analysis]], and profitable [[trading]]. The book explores why randomness prevails in markets most, but not all, of the [[Best_and_Worst_Times_to_Trade | time]] and how [[Technical_Analysis | technical analysis]] can be used to capture statistically validated [[Chart_Patterns | patterns]] in certain types of [[Sentiment_Analysis | market conditions]]. The [[Trading_psychology | belief]] of the book is that buying and selling pressure causes [[Chart_Patterns | patterns]] in [[Price_Action_Analysis | prices]], but that these [[Chart_Patterns | technical patterns]] are only effective in the presence of true buying/selling imbalance. The Art and Science of [[Technical_Analysis | Technical Analysis]] is [[Support_and_Resistance | supported]] by extensive statistical [[Trading_Routine#Analysis_Phase | analysis]] of the markets, which will debunk some [[Trading_Tools | tools]] and [[Chart_Patterns | patterns]] such as [[Technical_Analysis#Fibonacci | Fibonacci analysis]], and endorse other [[Trading_Tools | tools]] and [[Pre-Trade_Considerations | trade setups]]. In addition, this reliable resource discusses [[Trader_Types | trader]] [[Trading_psychology | psychology]] and [[Trader_Types | trader]] learning curves based on the author's extensive experience as a [[Trader_Types | trader]] and trainer of [[Trader_Types | traders]].
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==Fundamentals and Economic Analysis==

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| width="140"| [https://geni.us/vrbGlobalMacro https://i.imgur.com/4RJzGsi.jpg]|| '''[https://geni.us/vrbGlobalMacro  The Global Macro Edge - John Netto]''' <br> <br> Exploit global market relationships to maximize [[Trading#Investing | investment]] returns The Global Macro Edge: Harnessing [[Risk]]-Based [[Fundamental_and_Sentiment_Trading_Strategies | Strategies]] to Power Next Generation Investments is the individual [[Essential_Forex_Trading_Guide | trader's guide]] to following and [[trading]] global markets. With expert insight and detailed discussion on [[Fundamental_and_Sentiment_Trading_Strategies | strategies]] including long gamma, short gamma, [[Trends | trend following]], mean reversion, and spreads, the book provides [[Trader_Types | traders]] with the knowledge and [[Trading_Tools | tools]] they need to pursue profit in any major market in the world. Written by a leading [[trading]] educator, this resource analyzes the common mistakes and false assumptions that inhibit positive returns in global markets, and offers solutions that allow [[Trading#Investing | investors]] to maximize return per-unit-of-risk.
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==[[Trading_psychology | Psychology]] and [[Developing_your_Trading_Process | Professional Development]]==

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| width="140"| [https://geni.us/vrbTradingPsychology2 https://i.imgur.com/r2yPZPQ.jpg]|| '''[https://geni.us/vrbTradingPsychology2  [[Trading_psychology| Trading Psychology]] 2.0 : From Best Practices to Best Processes - Brett N. Steenbarger]''' <br> <br> Practical [[Trading_psychology | trading psychology]] insight that can be put to work today [[Trading_psychology | Trading Psychology]] 2.0 is a [[Essential_Forex_Trading_Guide | comprehensive guide]] to applying the science of psychology to the art of [[trading]]. Veteran [[Trading_psychology | trading psychologist]] and bestselling author Brett Steenbarger offers critical advice and proven [[Fundamental_and_Sentiment_Trading_Strategies | techniques]] to help interested [[Trader_Types | traders]] better understand the markets, with practical takeaways that can be implemented immediately. Academic research is presented in an accessible, understandable, engaging way that makes it relevant for practical [[Trader_Types | traders]], and examples, illustrations, and case studies bring the ideas and [[Fundamental_and_Sentiment_Trading_Strategies | techniques]] to life. Interactive features keep readers engaged and involved, including a blog offering ever-expanding content, and a Twitter feed for quick tips. Contributions from market bloggers, authors, and experts bring fresh perspectives to the topic, and Steenbarger draws upon his own experience in [[Trading_psychology | psychology]] and statistical modelling as an active [[Trader_Types | trader]] to offer insight into the practical aspect of [[Trading_psychology | trading psychology]].
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| width="140"| [https://geni.us/vrbOneGoodTrade https://i.imgur.com/FUWpcXD.jpg]|| '''[https://geni.us/vrbOneGoodTrade  One Good Trade : Inside the Highly Competitive World of Proprietary Trading - Mike Bellafiore]''' <br> <br> An inside look at what it really takes to become a better [[Trader_Types | trader]] A [[Trader_Scouting_and_Prop_Firms_Overview_and_Comparison | proprietary trading firm]] consists of a group of [[Institutional_and_Retail_Traders#What_is_an_Institutional_Trader?| professionals]] who [[Trading | trade]] the capital of the [[Trader_Scouting_and_Prop_Firms_Overview_and_Comparison | firm]]. Their income and livelihood is generated solely from their ability to take profits consistently out of the markets. The world of [[Trader_Scouting_and_Prop_Firms_Overview_and_Comparison | prop trading]] is [[Trading_psychology | mentally and emotionally challenging]], but offers substantial rewards to the select few who can master this craft called [[trading]]. In One Good Trade: Inside the Highly Competitive World of [[Trader_Scouting_and_Prop_Firms_Overview_and_Comparison | Proprietary Trading]], author Mike Bellafiore shares the principles and [[Fundamental_and_Sentiment_Trading_Strategies | techniques]] that have enabled him to navigate the most challenging of markets over the past twelve years. He explains how he has imparted those [[Fundamental_and_Sentiment_Trading_Strategies | techniques]] to an elite desk of [[Trader_Types | traders]] at the [[Trader_Scouting_and_Prop_Firms_Overview_and_Comparison | proprietary trading]] firm he co-founded. In doing so, he lifts the veil on the inner workings of his [[Trader_Scouting_and_Prop_Firms_Overview_and_Comparison | firm]], shedding light on the challenges of [[Trader_Scouting_and_Prop_Firms_Overview_and_Comparison | prop trading]] and insight on why [[Trader_Types | traders]] succeed or fail.
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| width="140"| [https://geni.us/vrbManAllMarkets https://i.imgur.com/iMJxilM.jpg]|| '''[https://geni.us/vrbManAllMarkets A Man for All Markets - Edward O Thorp]''' <br> <br> The incredible true story of the card-counting mathematics professor who taught the world how to beat the dealer and, as the first of the great quantitative [[Trading#Investing | investors]], ushered in a revolution on Wall Street. A child of the Great Depression, legendary mathematician Edward O. Thorp invented card counting, proving the seemingly impossible: that you could beat the dealer at the blackjack table. As a result, he launched a gambling renaissance. His remarkable success--and mathematically unassailable method--caused such an uproar that casinos altered the [[Trading_Rules_to_Live_By | rules]] of the [[Having_an_Edge_in_your_Trading | game]] to thwart him and the legions he inspired. They barred him from their premises, and even put his life in jeopardy. Nonetheless, gambling was forever changed. Thereafter, Thorp shifted his sights to "the biggest casino in the world" is Wall Street. [[Developing_your_Trading_Process | Devising]] and then deploying mathematical formulas to beat the market, Thorp ushered in the era of quantitative finance we live in today.
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''(If you haven't already discovered Taleb, Fooled by Randomness is one of the best places to start. His work is fantastic and really makes you think about contemporary approaches to [[risk]].)''
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| width="140"| [https://geni.us/vrb_fooledbyrandomness https://i.imgur.com/MiqJB2w.jpg]|| '''[https://geni.us/vrb_fooledbyrandomness  Fooled by Randomness - Nassim Nicholas Taleb]''' <br> <br> Fooled by Randomness is a standalone book in Nassim Nicholas Taleb's landmark Incerto series, an investigation of opacity, luck, uncertainty, probability, human error, [[risk]], and decision-making in a world we don't understand. The other books in the series are The Black Swan, Antifragile, Skin in the [[Having_an_Edge_in_your_Trading | Game]], and The Bed of Procrustes. Fooled by Randomness is the word-of-mouth sensation that will change the way you think about business and the world. Nassim Nicholas Taleb-veteran trader, renowned [[risk]] expert, polymathic scholar, erudite raconteur, and New York Times bestselling author of The Black Swan-has written a modern classic that turns on its head what we believe about luck and skill. This book is about luck-or more precisely, about how we perceive and deal with luck in life and business. Set against the backdrop of the most conspicuous forum in which luck is mistaken for skill-the world of [[trading]]-Fooled by Randomness provides captivating insight into one of the least understood factors in all our lives.
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'''Related Wikis'''

Readers of '''Recommended Forex Books for New and [[Developing_your_Trading_Process | Developing Traders]]''' also viewed:

* [[Essential_Forex_Trading_Guide | Essential Forex Trading Guide]]
* [[The_Best_and_Most_Popular_Forex_Platforms_for_Demo | The Best and Most Popular Forex Platforms for Demo]]
* [[Trader_Scouting_and_Prop_Firms_Overview_and_Comparison | Trader Scouting and Prop Firms Overview and Comparison]]
* [[Fundamental_and_Sentiment_Trading_Strategies | Fundamental and Sentiment Trading Strategies]]
* [[Technical_Trading_Strategies | Technical Trading Strategies]]