The 5 Best Books about Forex Trading

Posted by Seopros on October 24th, 2022

For many people forex trading seems like an easy way to make huge amounts of money quickly; however, it requires a considerable investment of time, effort and mental fortitude to become a successful forex trader. 

At IFX Brokers we have done extensive research on forex educational resources and provide you here with a review of the five best books available on forex trading. These books are aimed at helping traders of all experience levels to gain a greater understanding of the analytical factors that affect currency trading.

1.     Trading in the Zone

This is the second book by Mark Douglas and is widely considered to be a masterpiece. The book presents the reader with a deep dive into the psychological aspects of trading on the forex exchange market. Traders are provided with the necessary resources to learn how to steer clear of the many risks associated with emotional trading. 

The book also provides insight into how to nurture the emotional and psychological traits that are important to become a great forex trader and guidance on how to successfully use the tools provided by brokers like IFX Brokers.

2.     The Disciplined Trader

This is another valuable book from the pen of Mark Douglas. The Disciplined Trader is required reading for all traders who are under the impression that the way they think has no influence on their financial prosperity. 

In contrast to most books on forex trading that emphasize theories and case studies along with tools, tactics, and techniques, this book emphasizes the importance of exercising self-control.

Douglas believes that even a novice or inexperienced trader can win in the market once; however, a novice or inexperienced trader lacking self-discipline will never be able to succeed.

3.     Currency Trading for Dummies

Also known as the “nuts and bolts” guide on forex trading, the descriptions of the foreign exchange market and currency trading in this book by Author Brian Dolan are presented in a way that is simple to understand.

For individuals who are just starting out in currency trading, Forex Trading for Dummies is widely considered one of the best publications available. 

Traders with more experience might find this book helpful as a quick recap of the principles of what they already know. Thus, they will have a resource at their disposal that will help them navigate the fast-paced world of foreign exchange confidently.

4.     Day Trading and Swing Trading the Currency Market

The author of this book is Kathy Lien who is a renowned currency analyst and a regular guest on Bloomberg, CNBC, and Reuters programs.

The book is now in its 3rd edition and combine theoretical and practical learning with a balanced look into the fundamental and technical strategies of forex trading. Profits are supposed to be consistent with these strategies.

5.     How to Make a Living Trading Foreign Exchange

Throughout this book, the author identifies six distinct approaches with which to increase your   income through forex trading. 

In addition, it offers insightful advice regarding the psychology behind trading and management of the risks associated with forex trading