Top Four Forex Trading Books Every Trader Needs To Read

Success in the Foreign Exchange Market is what most traders look for when they decide to enter it. One of the most unfortunate things about the art of Forex trading (with the help of a broker) is that it is not a subject commonly addressed in high school or in tertiary institutions such as colleges and universities. Fortunately, there are a great deal of literature that exists on every aspect of Forex trading and the art of trading in general. Traders can use this great wealth of knowledge for their own educational or motivation purposes.

  1. Mark Douglas’ “The Disciplined Trader”

This book was written in 1990 and mainly addresses the Psychology of trading as its subject matter. In this book, the importance of mental discipline is underscored if one intends to become a successful trader. Although other books have been written on the subject of the Psychology of trading, Douglas’ book stands out as a classic text considered a ‘must read’ by many experts. This book does a superb job in explaining a complex subject in a very clear fashion that is also easy for every trader to read and understand. It also describes the basic mindset and attitudes that every trader who intends to be successful must have.

  1. Agustin Silvani’s “ Beat The Forex Dealer: An Insider’s Look Into Trading Today’s Foreign Exchange Market”

If there was ever a book succinctly written about making money in the Foreign Exchange Market, this must be it. This hard-hitting piece of literature was specifically written to dispel the common misconception that the Foreign Exchange Market is a frontier meant simply to assist traders in making easy money. In this book, ‘dirty’ practices that are common with online Forex brokers are brought to light (which includes stop-hunting, trading against clients and the practice of price shading). With this book, Mr. Silvani intends to teach traders how to evade all the Forex broker traps and how they can implement winning strategies.

  1. Raghee Horner’s, “Thirty Days Of Forex Trading: Trades, Tactics And Techniques”

In this book, Raghee Horner takes the reader along a 30 day trip where she provides access to her own personal trading routine. The book has been structured like a Forex trading journal with each chapter containing steps taken by Mrs. Horner on a typical workday. The techniques that are offered in this book are meant to guide a trader in this volatile market to ensure that they are not among the 90% who lose their money during trades. This book can be used by traders who are keen on walking in the footsteps of a Forex expert on the road to successful trading.

  1. John F. Carter’s “Mastering The Trade: Proven Techniques For Profiting From Intraday And Swing Trading Setups”

In this 432 page book, John Carter shares his five-point technique which he developed over twenty years of research and try out as a day trader. The author goes directly to his back-tested methods for establishing the precise entry, exit and the stop loss levels of the trades together with the use of invariable risk control methods meant to protect a trader’s trading capital. A procedure on how to prepare a market checklist used to monitor recent market behavior is also provided with specific trading strategies meant to help execute winning trades time and again.

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