Best books about forex about trading for beginnersDwain Ross 18 / March / 21 Visitors: 41
A person who understands little about trading cannot instantly figure out how trading works so everyone needs to devote some to learn it. For this reason, there is a wide range of special literature, authors of which tried to express their thoughts on the principles of Forex and other exchange markets in an accessible form. The information discussed in the best Forex trading books for beginners will be quite interesting for those you have just started and those who already have some understanding about trading.
Alexander Elder – "How to play and win on the Stock Exchange"
This book with a world-famous name is a bestseller. A. Elder being an actual trader and a professional of technical analysis explains in detail about the three main components of a successful trade - psychology, risk management and the methods of trading. In the first part of the book A. Elder insists on the importance of psychology in regards to profitable trading. Then the author gradually brings readers to the understanding that the analysis also plays a significant role and introduces the methods of technical and fundamental analysis. In addition, at the end of the book you will find a collection of tasks and tests that will help you to revise the material you have learned.
Eric Nyman - "Little encyclopedia trader"
In this edition, the author reviews basic principles of fundamental and technical analysis of financial markets, including the foreign exchange market - Forex. The book " Little encyclopedia trader" mentions methods of risk management and some chapters are devoted to the contradictory but nevertheless intriguing world of trading psychology. This book was published in order to introduce the reader to the main systems of financial decisions and consisted of two main parts - asset management practices and market analysis theory. You will find a lot of practical materials in the book that will help you master the nuances of trading in financial markets.
Jack Schwager - "The New Market Wizards: Conversations with America's Top Traders", "Technical Analysis"
Jack Schwager's book "The New Market Wizards" brought together real stories of traders who have undeniable experience of trading behind them. There are life stories that admittedly have certain mistakes as well as victories, fear and luck, doubts and confidence in success. Each interview gives more insight on how to go through a difficult period, how to believe in yourself. "Technical Analysis" outlines the basic concepts, methods, trading techniques, indicators and systems. The main emphasis is on the practical use of analytical methods when working in financial markets. The book is meant for both professional investors and beginner traders working in futures, stocks, bonds and currencies.
Cornelius Luca – "Trading in the Global Currency Markets"
The Forex market - the largest and fastest growing financial market in the world - has undergone serious transformations with the introduction of the euro and the expansion of the electronic form of trading. Nevertheless, despite its considerable size, this market is still not sufficiently understood by its participants and is poorly regulated. "Trading in the Global Currency Markets" helps beginners and experienced traders equally receive a unique opportunity to comprehend the essence of this profitable market.
Alfred John Frost and Robert Prechter- "Elliott Wave Principle"
The book "Elliott Wave Principle: Key To Market Behavior"- the classic of Wall Street - was written in 1978 thanks to which even modern traders will be able to understand the Elliott principle and learn how to use it in practical trade. The book by Frost and Prechter talks about the Elliott principle and the origin of wave analysis as well as how to apply his theory in practice. There are descriptions of the basic wave models and detailed indications to the practical use of the principle, examples of trading plans and results of wave analysis. "Elliott Wave Principle" is considered one of the most popular methods of market analysis and forecasting tools.
It is important to know where to start trading, what to expect in the beginning, how to cope with the problems and how important it is to have mentors', friends' and family's support – books on trading can definitely provide that information. Of course, this list of essential Forex books is far from complete. Most of the books listed above can be downloaded completely free of charge online.