Recommended Forex Books for New and Developing Traders: Difference between revisions

From Volatility.RED
No edit summary
 
(22 intermediate revisions by 2 users not shown)
Line 1: Line 1:
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?"  
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 forex traders.
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 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.
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==
==Beginner / Basics==


Currency Trading for Dummies - Kathleen Brooks
''(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.)''
https://geni.us/vrbCurrencyForDum
 
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.
{|
!
!
|-valign="top"
| 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.
|}


==General Forex and Trading==
==General Forex and Trading==


The Art of Currency Trading - Brent Donnelly
{|
https://geni.us/vrbArtOfCurrency
!
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.
!
|-valign="top"
| 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.  
|}


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.
|-valign="top"
| 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]].
|}
 
 
{|
!
!
|-valign="top"
| 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.
|}


==Charts and Technical Analysis==
==Charts and Technical Analysis==


The Art and Science of Technical Analysis - Adam Grimes
{|
A breakthrough trading book that provides powerful insights on profitable technical patterns and strategies The Art and Science of Technical Analysis is a groundbreaking work that bridges the gaps between the academic view of markets, technical analysis, and profitable trading. The book explores why randomness prevails in markets most, but not all, of the time and how technical analysis can be used to capture statistically validated patterns in certain types of market conditions. The belief of the book is that buying and selling pressure causes patterns in prices, but that these technical patterns are only effective in the presence of true buying/selling imbalance. The Art and Science of Technical Analysis is supported by extensive statistical analysis of the markets, which will debunk some tools and patterns such as Fibonacci analysis, and endorse other tools and trade setups. In addition, this reliable resource discusses trader psychology and trader learning curves based on the author's extensive experience as a trader and trainer of traders.
!
!
|-valign="top"
| 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]].
|}


==Fundamentals and Economic Analysis​==
==Fundamentals and Economic Analysis​==


The Global Macro Edge - John Netto
{|
Exploit global market relationships to maximize investment returns The Global Macro Edge: Harnessing Risk-Based Strategies to Power Next Generation Investments is the individual trader's guide to following and trading global markets. With expert insight and detailed discussion on strategies including long gamma, short gamma, trend following, mean reversion, and spreads, the book provides traders with the knowledge and 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 investors to maximize return per-unit-of-risk.
!
!
|-valign="top"
| 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.
|}
 
==[[Trading_psychology | Psychology]] and [[Developing_your_Trading_Process | Professional Development]]​==
 
{|
!
!
|-valign="top"
| 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]].
|}
 
 
{|
!
!
|-valign="top"
| 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.
|}
 
 
{|
!
!
|-valign="top"
| 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.
|}
 


==Psychology and Professional Development​==
''(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]].)''
{|
!
!
|-valign="top"
| 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.
|}


Trading Psychology 2.0 : From Best Practices to Best Processes - Brett N. Steenbarger
Practical trading psychology insight that can be put to work today Trading Psychology 2.0 is a comprehensive guide to applying the science of psychology to the art of trading. Veteran trading psychologist and bestselling author Brett Steenbarger offers critical advice and proven techniques to help interested 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 traders, and examples, illustrations, and case studies bring the ideas and 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 psychology and statistical modeling as an active trader to offer insight into the practical aspect of trading psychology.


One Good Trade : Inside the Highly Competitive World of Proprietary Trading - Mike Bellafiore
'''Related Wikis'''
An inside look at what it really takes to become a better trader A proprietary trading firm consists of a group of professionals who trade the capital of the firm. Their income and livelihood is generated solely from their ability to take profits consistently out of the markets. The world of prop trading is 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 Proprietary Trading, author Mike Bellafiore shares the principles and techniques that have enabled him to navigate the most challenging of markets over the past twelve years. He explains how he has imparted those techniques to an elite desk of traders at the proprietary trading firm he co-founded. In doing so, he lifts the veil on the inner workings of his firm, shedding light on the challenges of prop trading and insight on why traders succeed or fail.


Trade Your Way to Financial Freedom - Van K. Tharp
Readers of '''Recommended Forex Books for New and [[Developing_your_Trading_Process | Developing Traders]]''' also viewed:
"Sound trading advice and lots of ideas you can use to develop your own trading methodology."-Jack Schwager, author of Market Wizards and The New Market Wizards
This trading masterpiece has been fully updated to address all the concerns of today's market environment. With substantial new material, this second edition features Tharp's new 17-step trading model. Trade Your Way to Financial Freedom also addresses reward to risk multiples, as well as insightful new interviews with top traders, and features updated examples and charts.


A Man for All Markets - Edward O Thorp
* [[Essential_Forex_Trading_Guide | Essential Forex Trading Guide]]
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 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 rules of the game to thwart him and the legions he inspired. They barred him from their premises, even put his life in jeopardy. Nonetheless, gambling was forever changed. Thereafter, Thorp shifted his sights to "the biggest casino in the world" Wall Street. Devising and then deploying mathematical formulas to beat the market, Thorp ushered in the era of quantitative finance we live in today.
* [[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]]

Latest revision as of 15:29, 11 October 2023

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 has 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

(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 FX. Seriously.)

yNf8chA.jpg Currency Trading for Dummies - Kathleen Brooks

Your plain-English guide to 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

KRsPCdD.jpg The Art of Currency Trading : A Professional's Guide to the Foreign Exchange Market

Now you can master the art of foreign exchange trading. While most currency trading and foreign exchangee 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.


thM71RC.jpg 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 stocks, 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 [Technical_Analysis | 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.


CQgiwQj.jpg 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.

Charts and Technical Analysis

lXXR7sa.jpg The Art and Science of Technical Analysis - Adam Grimes

A breakthrough trading book that provides powerful insights on profitable technical patterns and strategies The Art and Science of technical analysis is a groundbreaking work that bridges the gaps between the academic view of markets, technical analysis, and profitable trading. The book explores why randomness prevails in markets most, but not all, of the time and how technical analysis can be used to capture statistically validated patterns in certain types of market conditions. The belief of the book is that buying and selling pressure causes patterns in prices, but that these technical patterns are only effective in the presence of true buying/selling imbalance. The Art and Science of Technical Analysis is supported by extensive statistical analysis of the markets, which will debunk some tools and patterns such as Fibonacci analysis, and endorse other tools and trade setups. In addition, this reliable resource discusses trader psychology and trader learning curves based on the author's extensive experience as a trader and trainer of traders.

Fundamentals and Economic Analysis​

4RJzGsi.jpg The Global Macro Edge - John Netto

Exploit global market relationships to maximize investment returns The Global Macro Edge: Harnessing Risk-Based Strategies to Power Next Generation Investments is the individual trader's guide to following and trading global markets. With expert insight and detailed discussion on strategies including long gamma, short gamma, trend following, mean reversion, and spreads, the book provides traders with the knowledge and 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 investors to maximize return per-unit-of-risk.

Psychology and Professional Development

r2yPZPQ.jpg Trading Psychology 2.0 : From Best Practices to Best Processes - Brett N. Steenbarger

Practical trading psychology insight that can be put to work today Trading Psychology 2.0 is a comprehensive guide to applying the science of psychology to the art of trading. Veteran trading psychologist and bestselling author Brett Steenbarger offers critical advice and proven techniques to help interested 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 traders, and examples, illustrations, and case studies bring the ideas and 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 psychology and statistical modelling as an active trader to offer insight into the practical aspect of trading psychology.


FUWpcXD.jpg One Good Trade : Inside the Highly Competitive World of Proprietary Trading - Mike Bellafiore

An inside look at what it really takes to become a better trader A proprietary trading firm consists of a group of professionals who trade the capital of the firm. Their income and livelihood is generated solely from their ability to take profits consistently out of the markets. The world of prop trading is 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 Proprietary Trading, author Mike Bellafiore shares the principles and techniques that have enabled him to navigate the most challenging of markets over the past twelve years. He explains how he has imparted those techniques to an elite desk of traders at the proprietary trading firm he co-founded. In doing so, he lifts the veil on the inner workings of his firm, shedding light on the challenges of prop trading and insight on why traders succeed or fail.


iMJxilM.jpg A Man for All Markets - Edward O Thorp

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 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 rules of the 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. Devising and then deploying mathematical formulas to beat the market, Thorp ushered in the era of quantitative finance we live in today.


(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.)

MiqJB2w.jpg Fooled by Randomness - Nassim Nicholas Taleb

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 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.


Related Wikis

Readers of Recommended Forex Books for New and Developing Traders also viewed: