Best Forex Trading Books – The Top 5 Forex Books 2020
Forex books are the first step for many in the forex trading journey. Whether you want an audio book for beginners, or a strategy e-book for advanced trading, we have shortlisted the 5 top forex trading books that will benefit all traders.
Forex trading can seem like a huge challenge at first; there are so many different terms, ideas and strategies that it can feel like learning a foreign language. Even the most successful forex traders had to start somewhere and a good start place is forex trading books. A forex manual written by an experienced trader, who can also explain everything in layman’s terms, can help guide you through the basics of forex trading.
However, the market for forex trading guides is a crowded one. So to help you, we’ve put together a brief guide to the five of the best books about forex trading.
Top 3 Forex Brokers
Top 5 Forex Books 2020
Anna Coulling – Forex For Beginners: What You Need To Know To Get Started And Everything In Between (Marinablu International, 2013)
Availability: Paperback and Kindle Length: 260 pages
Anna Coulling is a full-time trader and author. She has written numerous books on forex trading, stock market trading and volume price analysis, all of which draw on her twenty years of trading experience.
Coulling describes Forex for Beginners as a “primer” to the world of forex trading. It’s also a prequel to two of her more advanced works, A Three Dimensional Guide to Forex Trading and A Complete Guide to Volume Price Analysis.
Forex for Beginners focuses on the concept of risk in forex trading. Coulling breaks this concept down into two areas: The level of risk (high, medium or low) and the financial risk.
Starting from the absolute basics and working up to its authors own trading methods, Forex for Beginners can help new traders in learning to assess and manage risk.
Jim Brown – Forex Trading: The Basics Explained In Simple Terms (CreateSpace Independent Publishing Platform, 2015)
Availability: Paperback and Kindle Length: 73 pages
Jim Brown is an Australian forex trader with many years of experience, Brown has authored books for both beginner and advanced forex traders.
What Forex Trading: The Basics Explained lacks in length it makes up for in clarity. If all of the terms seem overwhelming, they shouldn’t by the time you’ve read it. Chapters include:
- What is Forex?
- Advantages of Trading Forex
- When the Forex market is open
- Forex pairs
- Where we trade Forex
- Choosing a Broker
- Important information for US based traders
- Lot size and equivalent pip value
- Information on risk
- News and fundamental analysis
- Technical analysis
- Risk-reward ratio
- Types of orders
- How many pips is enough
- Trading psychology
- Day trading or longer term trading?
- Keeping a journal or diary
Another bonus of this book is that includes a copy of Brown’s own trading system and video instruction on how to use it.
For more experienced forex traders, Brown has also authored respected books on MT4 and MT5 trading platforms.
Kathleen Brooks & Brian Dolan – Currency Trading For Beginners (3rd Edition) (John Wiley & Sons, 2015)
Availability: Paperback and Kindle Length: 384 pages
Currency Trading for Beginners is the number one forex guide on Amazon. A comprehensive guide for forex trading novices, it’s also now in its third edition, which in itself is recommendation enough.
The familiar yellow-and-black cover of the For Dummies book series instantly lends this book an air of trustworthiness, as it takes the reader through the basics of the forex market. It explains the latest SEC rules and tax laws, discusses risk management and thinks about the pros and cons of forex trading.
First published in 2007, the 2015 update was co-authored by Brian Dolan, an author and media commentator who has over two decades of trading experience, and Kathleen Brooks, a research director for a major forex website.
Jelle Peters – Forex For Ambitious Beginners: A Guide To Successful Currency Trading (Odyssea Publishing, 2012)
Availability: Paperback and Kindle Length: 218 pages
A legal philosopher and historian, Jelle Peters also runs a forex website, writes regular articles on forex trading and has authored this popular forex guide.
Forex for Ambitious Beginners prides itself on not selling you a “fantasy” about how easy forex trading is, but on showing you how to avoid common mistakes when starting forex trading.
Peters also includes lessons on specific forex trading strategies, technical indicators and other more advanced instructions such as how to read candlestick charts. At the end of the book there’s the bonus of a quiz to help you make sure you understand the forex lessons you’ve learned.
Paul Langer – The Black Book Of Forex Trading: A Proven Method To Become A Profitable Trader In Four Months And Reach Your Financial Freedom By Doing It (CreateSpace Independent Publishing Platform, 2015)
Availability: Paperback and Kindle Length: 83 pages
Paul Langer offers a different perspective on forex trading. Whereas the book’s we’ve looked at above are forex guides for beginners, The Black Book of Forex Trading is aimed at forex traders who already have some experience.
Although brief, this book distils Langer’s own experience in forex trading and of paying thousands for courses and systems. He uses all he’s learned to present you with three forex strategies which he believes will help you to “consistently” earn money from forex trading.
A strong seller with positive reviews, The Black Book of Forex Trading aims to help you side-step the mistakes that its author made on his forex trading journey and have you earning money from your own trading within four months.
Forex eBooks For Beginners
While not sufficient to help professional traders, FTSE listed broker ETX Capital does provide a small library of ebooks on Forex that can guide beginners in the basics of trading, find them here.