Forex Trading Books That We Recommend Every Forex Trader Read In 2020
As a group of forex insiders who’ve both worked in the industry and traded forex, we’ve collectively read hundreds of books on forex trading over our many decades. We decided to put together a shortlist of forex trading books that every trader or investor must read and, we would say, should own a copy.
If you’re new to trading or investing then these 5 must-read forex trading books will really accelerate your learning curve.
Our top 5 selection of books teaches forex trading in an enjoyable way and still deliver all the knowledge anyone would need in order to trade forex effectively. If you’re an experienced forex trader you may recognize most or all of these forex trading books. As a serious forex trader ask yourself if you could only read 5 books in 2020 what would they be?
Here’s our top 5 list of forex publications
1. High Probability Trading – Marcel Link
Starting out on your trading journey can be challenging as most new traders blow their trading accounts within the first couple of weeks. This book, High-Probability Trading, takes the reader through the steps that need to be taken to navigate through this tumultuous time. A detailed program is outlined to accompany the start of your trading career by increasing your profitability potential.
No matter your trading strategy all aspects of successful trading are explored. Intended for the modern trader, this book cuts straight to the point depicting the reality of trading, by discussing practical examples.
This book dissects all-important and probable aspects of trading, and explains them in detail, teaching strategies for each individual component of the analysis. This allows the trader to create their own trading plan through an abundance of information.
2. Trading in the Zone – Mark Douglas
The author, Mark Douglas, investigates and explores the psychological factors that influence the decision making of traders that result in them losing money. Trading in the Zone, is a frank look at the true meaning of probability in the market that governs speculation. This is pursued further by addressing risk factors and the anomalies that surround random events in the global financial markets.
A great read to improve consistency and overcome bad habits affecting poor decision-making for all traders.
3. Way of the Turtle – Curtis Faith
“We’re going to raise traders just like they raise turtles in Singapore.”
The Way of the Turtle, blends a mixture of trading mechanics and psychology coupled with the wisdom, which emanates from the personal story of Curtis Faith. These personal stories are based on strategies that follow trends from the author’s days as a turtle trader.
Curtis also addresses the process of building a robust trading system that will stand its ground regardless of market changes.
He offers an original perspective on risk management, learning from your mistakes, and choosing your own way.
4. One Good Trade – Mike Bellafiore
An insider’s point of view on what it takes to become a better trader. One Good Trade, written by Mike Bellafiore, shares the ideologies and strategies that have assisted him over his career in the most challenging of markets as a proprietary trader. He, therefore, has insight into why traders succeed and why they fail.
Not only is this book entertaining, but it also emphasises the development of skills and the fundamentals of finding trades that work. Reading this book will equip the reader to improve his consistency as a profitable trader and assist him in separating himself from traders who underperform.
Becoming a better trader takes discipline, skill development, and statistically profitable trading strategies, and this book will show you how to develop all three.
5. A Random Walk Down Wall Street – Burton Malkiel
No matter which investment phase you find yourself in, this book, A Random Walk Down Wall Street, is a cult classic and serves as a guide to solid, principle-based investing in a market where asset price movements exhibit signs of a random walk.
The author displays authority on all investment vehicles and instruments to help you chart your course through highly volatile financial markets.
Each of these books will take you through forex trading from start to finish in their own way. If you read them all you will get to understand different perspectives on forex trading. If you’re an experienced trader they’ll reinforce your knowledge base. If you’re a trader who’s just starting out these 5 forex trading books will help you get going in no time.
If you would like to further your forex education there are some free forex trading courses we can recommend. We also discuss four ways to do forex trading training to improve your skills. For more forex insights take a look at our featured articles.