There are hundreds of books regarding Forex Trading and as a beginner it is always hard to choose one to start. In this article I will list some of the Best Forex Books for Beginners I read so that you can find some ideas on where to start and what to read.
When you approach Forex for the first time it may result very confusing and hard to understand, there are a lot of strange terms, acronyms, formulas and so on. Yes it can be scary! Forecasting if an echange rate will increase or drop is the diffucult part of Currency Trading while understanding the basics is quite easy.
As mentioned in the article How to Learn Forex Trading there are many ways you can get started and learn about the Foreign Exchange market, one of the easiest and cheapest is to read a book.
With all the literature available regarding Forex Trading you first need to understand where to start. Usually the books are dedicated to a specific topic, this could be, Basics of trading, Technical Analysis, Fundamental Analysis, Price Action, Trading Psychology, Risk Management, Trading Systems and many more.
If you are an absolute beginner you probably want to start with an introdutory book about Currency Trading, so that you can start understanding the terminology and mechanism of trading, you definitely need the basics first.
When you know the fundamentals then you can start reading something more focused on advanced aspects of Forex and Trading, for example specific Trading Systems or Trading Psychology.
Whether you are a beginner or an advanced trader you will see that knowledge is one of the keys to success, the market is dynamic, it continuously changes, and you cannot afford to stop learning.
Best Forex Books for Beginners
I read several books about Forex and I believe that if you need to learn the basics about Forex Trading you can choose between the following.
Forex For Ambitious Beginners is in my opinion your ideal choice to get started, the book is an introduction to the world of Currency Trading, it is well written and with relevant content. You can find my review of the book here Forex For Ambitious Beginners, in alternative you can buy it on Amazon or Book Depository.
Another good book for you if you are an absolute beginner is FX Trading A Guide to Trading Foreign Exchange, you can find my review here FX Trading A Guide to Trading Foreign Exchange, you can also buy it on Amazon or Book Depository.
If you already know the basics the following could be some interesting reading to expand your knowledge.
Trading in The Zone is all about Trading Psychology, discipline is a requirement to become a successful trader and understanding how your mind works before, during and after a trade can make the difference between losing and making money. Highly recommended! You can find the full reviews here Trading in the Zone, or buy it on Amazon or Book Depository.
Beat the Forex Dealer will open your eyes regarding some controversial practices some brokers use to “trick” the trader, a very interesting and unusual reading. Read the full reviews here Beat The Forex Dealer or buy it on Amazon or Book Depository.
Inside the Black Box is the book for you if you are interested in Trading Automation (and I assume you are if you landed on this website). The book will take you through trading automation, its modules, advantages and disadvantages. In my opinion a must read for all the traders interested in Trading Robots and Expert Advisors. Find my review here Inside the Black Box or buy it on Amazon or Book Depository.
The books listed are just my personal choice, you can browse the Book Reviews section for more reviews. Reading a book takes time but I always try to fit some time to read, mixing the sources of knowledge is in my opinion the best way to learn. You can find more books in Amazon and Book Depository.
Remember that books are not the only ways to learn about Forex, if you don’t like reading (and I wouldn’t blame you), you can choose another media, a very popular one could be enrolling in an Online Course, check out Udemy for courses on Forex, there are some very good ones.
Books are one of the easiest way to get started with the Forex learning, I listed my favourite books so far and hopefully this will give you some idea on where to begin. Get started learning and expanding your knowledge about Forex, don’t wait!
If you have other recommendation or feedback please comment below.
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