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Classic books about forex

Sep 25, 2016 at 06:38
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57 Replies
JHenrique
forex_trader_318221
Member Since Apr 07, 2016   32 posts
Sep 25, 2016 at 06:38
There is a lot of books about investing wrote by rich people and well successful. But, realize, all books about finances are about STOCK MARKET, none about forex market!

Don't exist none book called 'The intelligent speculator' or 'Learn to operate forex market'...

So, exist some classic book about trading, speculation, high risks and fast money?
Member Since Mar 31, 2015   45 posts
Oct 25, 2016 at 06:35
JHenrique posted:
There is a lot of books about investing wrote by rich people and well successful. But, realize, all books about finances are about STOCK MARKET, none about forex market!

Don't exist none book called 'The intelligent speculator' or 'Learn to operate forex market'...

So, exist some classic book about trading, speculation, high risks and fast money?

It's a good question. I believe there are tons of books about forex, but can someone recommend a few?
Member Since Mar 26, 2015   35 posts
Oct 25, 2016 at 06:35
Well, good that you created this thread!
I think there are books describing specific techniques (like the Elliot waves, Rainbow trading etc.). Other than that, I would recommend reading articles on technical analysis in well known print publications in the financial field, like the The Journal of Finance for example.
Once a trader, always a trader!
Member Since Nov 25, 2015   41 posts
Oct 26, 2016 at 14:13
some people prefer watching educational videos and webinars. Many famous traders are leading such webinars, and they are not always paid. You can learn a lot
Member Since Mar 31, 2015   45 posts
Nov 15, 2016 at 13:41
I found a list of books for beginner traders on the earnforex forum:

Candlesticks For Support And Resistance — The basics of trading with candlesticks charts by John H. Forman.
Online Trading Courses — Course #1 lesson #1 by Jake Bernstein.
Commodity Futures Trading for Beginners — by Bruce Babcock.
Hidden Divergence — by Barbara Star, Ph.D.
Peaks and Troughs — by Martin J. Pring.
Reverse Divergences And Momentum — by Martin J. Pring.
Strategy:10 — Low-risk, high-return Forex trading by W. R. Booker & Co.
The NYSE Tick Index And Candlesticks — by Tim Ord.
Trend Determination — A quick, accurate and effective methodology by John Hayden.

Has anyone read some of them? Any opinion?
Member Since Feb 12, 2016   427 posts
Nov 15, 2016 at 16:10
Hi guys, personally I am not reading any books about trading, but some of the best recommendations about Forex are:

1. Currency Trading and Intermarket Analysis: How to Profit from the Shifting Currents in Global Markets – by Ashraf Laidi
2. ForeX Trading for Maximum Profit: The Best Kept Secret Off Wall Street – by Raghee Horner
3. Beat the Forex Dealer: An insider’s look into trading today’s foreign exchange market – by Agustin Silvani
4. Mastering the Trade: Proven Techniques for Profiting from Intraday and Swing Trading Setups – by John F. Carter
5. Thirty Days of FOREX Trading: Trades, Tactics, and Techniques – by Raghee Horner
Accept the loss as experience
Member Since May 17, 2013   33 posts
Nov 16, 2016 at 02:20
Van Tharp once wrote, trading success is 60 % psychology, 30 % money management and 10 % trading system. It is therefore imperative that our development mirrors such core requirements and not concentrate on those pesky indicators and TA ideas sold by scammers and educators.

As such I would recommend the following :

1)Phantom of the pits
This is written by a trader who wish to remain anonymous. In my view, this is the best trading book ever written. The book only concentrate on three key concepts : cutting losses; pressing winners; and trade psychology. It is very instructive in taking these key concepts from a conceptual level to a practical dimension not seen in any trading books. I think it does a better job in bringing across these concepts than the Market Wizards series.

2)Beat the Forex Dealer: An insider’s look into trading today’s foreign exchange market – by Agustin Silvani
This book is written by an institutional trader and explains the dynamics of the forex market from the institutional standpoint. if you wish to swim with the sharks, you need to understand how they operate and not get eaten in the process. the author provides an insightful view in particular on how to trade the news.

3)Naked Forex by Alex Nekritin & Walter Peters
This book is useful because its scope is comprehensive in covering all the major areas in TA and so offers good content to the world of technical analysis and forex trading

4)jarratt Davies
Jarratt Davies has written a trading book and is very active in expressing his views in professional trading publications. His views can be polarising because he is primarily a fundamental trader with some mix of technical input. He is one of the very few retail trader who has successfully transition to institution level and is consistently ranked one of the top currency trader by performance. I am primarily a technical trader and I credit him for opening my eyes to the role of fundamentals in forex trading and have adapted my trading strategy as a consequence.

5)One Good Trade by Mike Bellafiore
This is a book on the world of professional prop trading. It is useful read because it provides an insight into the world of professional trading and the regime involved to be successful.

6)Sam Seiden
He has written many articles on supply and demand and in my view is unequal in this area in enhancing your understanding of a very important subject in trading.

7)The Art and science of TA by Adam Grimes
In addition to doing a good job on the science of TA, this book is very useful in discussing price action in trading.

8)High Performance Trading by Steve Ward
It is book on trade psychology and its effect on performance. It is not just a conceptual discussion but practical steps involved to transform trading behaviour as after all trading is 60 % psychology.
 
    
        
Member Since Mar 14, 2016   35 posts
Nov 17, 2016 at 13:59
@Dove_Services Thank you for your selection of books! It sounds quite interesting and promising. I would disagree on the TA part you mentioned as this is also a valuable aspect and ignoring it will simply cut part of your view to the markets. But it's up to everyone to decide whether to use technical analysis or not.
Member Since May 17, 2013   33 posts
Nov 17, 2016 at 21:08
martinkolbe posted:
@Dove_Services Thank you for your selection of books! It sounds quite interesting and promising. I would disagree on the TA part you mentioned as this is also a valuable aspect and ignoring it will simply cut part of your view to the markets. But it's up to everyone to decide whether to use technical analysis or not.

I don't believe I advocated ignoring TA in trading. The fact is I am a technical trader by choice from the beginning when I started in this business 16 years ago by obtaining a diploma in technical analysis from the Australian Technical Analysts Association. TA and trading though integrally bound are in effect different streams and in my journey I found eventually less is more. I don't use any indicator other then a couple of moving averages but rely on price action, EW for market structure and median lines for turns and exit points. Having said that, trade psychology is my biggest challenge not technical.
Member Since Mar 02, 2013   238 posts
Nov 18, 2016 at 07:55
Please explain 'TA'
The differenece between who your are and who you would like to be be is what you do
Member Since Mar 02, 2013   238 posts
Nov 18, 2016 at 08:45 (edited Nov 18, 2016 at 08:47)
Technical Analysis... ok 😁
I didn´t sleep long last night 😉
The differenece between who your are and who you would like to be be is what you do
Member Since Jan 25, 2016   38 posts
Nov 22, 2016 at 14:42
To me it's quite interesting how many time per day or week we spend on reading new books and articles about trading. I know it is very important at the beginning when we learn to trade but then we can keep reading new materials to stay tuned with latest developments. I try to spend at least 2 hours a week in reading about the industry.
Member Since Jan 25, 2016   38 posts
Nov 22, 2016 at 14:43
Dove_Services posted:
martinkolbe posted:
@Dove_Services Thank you for your selection of books! It sounds quite interesting and promising. I would disagree on the TA part you mentioned as this is also a valuable aspect and ignoring it will simply cut part of your view to the markets. But it's up to everyone to decide whether to use technical analysis or not.

I don't believe I advocated ignoring TA in trading. The fact is I am a technical trader by choice from the beginning when I started in this business 16 years ago by obtaining a diploma in technical analysis from the Australian Technical Analysts Association. TA and trading though integrally bound are in effect different streams and in my journey I found eventually less is more. I don't use any indicator other then a couple of moving averages but rely on price action, EW for market structure and median lines for turns and exit points. Having said that, trade psychology is my biggest challenge not technical.

Good to hear the opinion of someone that has a university background in technical analysis! Your advice to use less indicators is very important!
mp28
forex_trader_387598
Member Since Dec 27, 2016   6 posts
Mar 22, 2017 at 07:17
You can find unlimited number of books, which will provide the basic information on Forex trading, but only when you find the book you will notice will not only read, it is a world that requires dedication and constancy.

The 10 books of Forex are:

1. 'Mastering the Trade' by John F. Carter, At first it may be difficult to understand especially for those who have no knowledge of Forex, so the book goes straight to its main topic.2

2. 'Forex Day Quote Day' by Kathy Lien, leading strategist for an on-line currency broker for the world, showing variety of techniques and strategic for-profit fundamentals for Forex trading.

3. 'Watching Birds in the Land of the Lion' by Dirk Du Toit, is a forex trading book, covering all aspects to becoming a successful Forex trader.

4. 'The Trade Zone' by Mark Douglas, adequate psychological control at the time of trading on Forex, a recommended for those wishing to venture into the world of financial markets.

5. 'Bruges Market' by Jack D. Schwager, a well-sold classic, delving into the world's most successful traders, seeking a taste of what it takes to be a world-class market.

6. 'Forex Profit' by Steve Nison, is actually a set of slides, which explains how to use the strategies to move to the next step in the Forex market. It consists of a complete thought or advice on trade

7. 'Seven Winning Strategies for Forex' by Grace Cheng, is a most important strategy book by a full time Fores trader. Recommended for those inexperienced Forex.

8. 'The Elliot Wave Domain' by Glenn Neely, is a descriptive and research book that begins with the most basic concepts of negotiating with Elliot waves and ends with complex details for advanced financial traders.

9. 'The 10 Fundamentals of Forex Trading' by Jared Martinez, is a comprehensive Forex trading guide, written by an expert on forex trading. Its main theme is about technical indicators and various objects of graphics and a great technical analysis.

10. 'The Black Swan' by Nassim Taleb, a famous shredder of economic forecasting theories, is a highly recommended book for traders, who should read this book first and foremost to enter the world of trade.
bh61
forex_trader_387595
Member Since Dec 27, 2016   14 posts
Mar 23, 2017 at 07:29
Excellent books, Thank you for sharing the basic information on Forex trading. Very good.😀
hugol
forex_trader_367569
Member Since Oct 09, 2016   15 posts
Mar 26, 2017 at 07:11
A good book that I recommend.
It's called .. My toolbox for trading. By Darío Redes

Summary: The toolbox has been created to provide a summary of many aformisms, quotes and trading guidelines.
Member Since Apr 18, 2017   45 posts
Apr 23, 2017 at 06:35
Yes, there have so many ways of learning Forex business, but till now reading eBook is my favorite! I have read more than 100 trading eBook till now! But it’s true, all of trading eBooks were not meaningful! By the way, I found proper price action knowledge by reading ‘Best Forex System: Price Action’! In addition, right now I use my PA knowledge in my live trading account!
Member Since Feb 04, 2017   10 posts
Apr 26, 2017 at 11:24
I find most books that I have read have not been that helpful. Best advice has been on forums like this
Member Since Apr 03, 2017   3 posts
Apr 27, 2017 at 06:33
great thread. I may check out a few of these...

Most helpful books i've read so far:

One Good Trade by Mike Bellafiore(not forex specific) & Fibonacci Trading by Carolyn Boroden
Member Since Apr 18, 2017   718 posts
May 17, 2017 at 07:05
Honestly, I have read so many trading eBook (free version) but I found there only basic instructions on trading! But I have found, so many important information’s though using popular Forex Forums including this one! Actually, professional traders are active on Forex forums and they share their technical and fundamental overviews on forum so willingly!
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