At, present Forex trading is becoming a common and passive profession all across the globe. As a result, many people are getting interested in online currency exchange trading.
So, in order to have a successful career at Forex online trading, you will DEFINITELY need to have enough knowledge about the foreign exchange market and also many people love to read books. Therefore reading several types of Forex trading books will help you BIG TIME.
Here are the 7 BEST forex trading books for 2020.
Technical Analysis Of The Financial Markets By John J. Murphy
‘Technical Analysis of Financial Markets’ includes everything you need to know about technical analysis – from the basic concept of trading with a forward indicator. Written in 1998 by John J. Murphy, former director of Merrill Lynch, has come to be regarded as a bible for traders – so much so nominated by more analysts than other titles in this top 10.
The book includes more than 400 technical analysis charts to bring to life and a section to help you put what you have learned into practice, making this a ‘must-read’ for traders of all levels.
Trading In The Zone By Mark Douglas
“Trading in the Zone” by Mark Douglas explores the key psychological attributes needed to become a successful trader and explains how you can develop them. It is regarded as the leading book in the field because it includes a number of practical techniques that can be used to control emotional responses.
While this technique should not replace your plan or analysis, they can help you run more efficient strategies and minimize losses.
The Alchemy of Finance by George Soros
In ‘The Alchemy of Finance’, George Soros describes an approach to trade and introduces ‘reflexivity’ – a fundamental theory that can be influenced by the price. While standard economic reasoning contradicts this, Soros claims to have given him an edge over other traders during his career.
First published in 1986, this book provides merchants with an interesting insight into the mindset of one of the most successful traders of all time – the year before he triggered the Black Wednesday.
Market Wizards by Jack D. Schwager
“Market Wizards” by Jack D. Schwager is an anthology of interviews with the best traders in the world, where they reveal what separates them from the masses and tell the story behind their biggest coup of trade.
This shows that success is not determined by luck, rather it depends on one’s ability to develop a solid trading plan and the right mental attitude.
Day trading and swing trading Currency Market by Kathy Lien
‘Day Trading and Swing Trading Currency Market’ by Kathy Lien provides traders with a variety of technical and fundamental strategies that can be used to find the market overbought and oversold. This includes a strategy that involves the difference in interest rates and news Intermarket relationships.
This book was revised and updated in 2016, to make sure the content is applicable to the market today.
The Black Swan by Nicholas Taleb
In ‘The Black Swan’, Nicholas Taleb explores the impact of unexpected events and how they tend to be rationalized after they occur. The main idea is that most of the financial model was deeply flawed because they fail to account for these events, leaving traders exposed to unnecessary risks.
The book serves as a reminder to prepare for the unexpected, and take steps to minimize the potential downside of any trade.
Bollinger on Bollinger Bands by John Bollinger
As the name suggests, “Bollinger on Bollinger Bands” is John Bollinger’s guide for his eponymous indicator. In it, he describes how to use Forex tools properly and avoid common pitfalls, and explains the fundamental complimentary analysis techniques that can help confirm how the market is likely to move.
It also explains the market conditions that encourage the development of indicators and three methods that can help traders make full use of it.
I hope it helps you to gain knowledge of the FX market.