Forex Books

Hey traders,

Does anybody know of good books on forex to read for beginners? I'm looking for all kinds of books, from books that will give me a general understanding of the forex markets & how they behave to more advanced literature on technical analysis/charting..

Any suggestions?

-Eric

Hi elin



I like the book `How To Beat The Forex Dealer`

I like the way its written and u will read some new stuff too

From the Back Cover

The foreign-exchange market is often referred to as the Slaughterhouse where novice traders go to get ˜chopped up. It is one of egos and money, where millions of dollars are won and lost every day and phones are routinely thrown across hectic trading desks. This palpable excitement has led to the explosion of the retail FX market, which has unfortunately spawned a new breed of authors and gurus more than happy to provide misleading and often downright fraudulent information by promising traders riches while making forex trading ˜easy.
Well Iâll let you in on a little secret: there is nothing easy about trading currencies. If you dont believe me then stop by Warren Buffetâs office and ask him how he could lose $850m betting on the dollar or ask George Soros why his short yen bets cost him $600m not once but twice in 1994. What is wrong with these guys, dont they read FX books?

In reality, the average clients trading approach combined with the unscrupulous practices of some brokers make spot FX trading more akin to the games found on the Vegas strip than to anything seen on Wall St. The FX market is littered with the remains of day traders and genius ˜systems, and to survive in the long-run traders have to realize that they are playing a game where the cards are clearly stacked against them.

Have you ever had your stop hit at a price that turned out to be the low/high for the day? Bad luck perhaps? Maybe. What if it happens more than once? Do you ever feel like the market is out to get you? Well guess what, in this Zero Sum game it absolutely is.

Covering the day-to-day mechanics of the FX market and the unsavoury dealings going on, Beat the Forex Dealer offers traders the market-proven trading techniques needed to side-step dealer traps and develop winning trading methods. Learn from an industry insider the truth behind dirty dealer practices including: stop-hunting, price shading, trading against clients and ˜no dealing desk realities.

Detailing the dealer-inspired trading techniques developed by MIGFX Inc, consistently ranked among the worldâs leading currency trading firms, the book helps turn average traders into winning traders; and in a market with a 90% loss rate winning traders are in fact quite rare! More than just a simple manual, Beat the Forex Dealer brings to life the excitement of the FX market by delivering insights into some of the greatest trading triumphs and highlighting legendary disasters; all written in an easy to read style. By stripping away the theory and getting down to the core of trading, you too will find yourself on the way to beating the forex dealer!



cheerz

To get the basic understanding of the Forex market I'd recommend something like School of Pipsology Manual. Then I'd recommend reading a good book on money/risk management in trading (e.g. Trade Your Way to Financial Freedom by Van K. Tharp) and on chart analysis (e.g. Encyclopedia of Chart Patterns by Thomas Bulkowski).

Trading and exchanges: Market Microstructure for Practitioners by Larry Harris

All you need is this book I ensure you,you will learn from the basics about trading, about the marketplace and understand how markets work.

this book brings valuable information that can make you be a killer(just joking)

Anothers books that you'll not regeret by reading them are:
- Martin Pring on Price action by Martin Pring
- Trading in the zone by Mark douglas
- Reminiscent of a stock operator by Jesse Livermore

this is all you need,........ohh and forgot to say about those 1000's hours looking at the charts

hope thats help

for beginners

http://www.amazon.com/Day-Trading-Cu...6982931&sr=8-4

but check out the newer version, i only know the version above

additionaly i recommend to only read books written by other traders

... this is for understanding the foreign exchange in principle, nothing directly technical or trading related, a bottom up approach

for a top down approach i highly recommend 'the black swan' or 'fooled by randomness' or both from nassim taleb, these are really philosophical, more about attitude towards the unpredictable

Well I'm new here but I have some base in this area.
Try the "Trading in the Zone" Mark Douglas. Is good .

Elder - Trading for a living
Murphy - T.A. of the Financial Markets

Thanks for all the recommendations guys; I'm reading T.A. of the Financial Markets by John J. Murphy right now, it's a great read, I'm thoroughly enjoying it!

Pring on Price Patterns - Martin Pring

Trade Your Way to Financial Freedom - Van Tharp

Trading in the Zone - Mark Douglas


With those three you are on your way. There's more such as Reminiscences which was mentioned and the Market Wizards series, but the ones above will build a great foundation.

I am reading

Way of the turtle at the moment which is a good read.

I also read
The FX Bootcamp Guide to Strategic and Tactical Forex Trading (Wiley Trading)

Which was great for someone with little or no knowledge of trading. Might have to re read this one soon.

There is a good list of books at ACM Forex site, there is a section named resourses and there are like 10 books to choose from. The list is actualized, so the books there are updated.
I read onecurrency competition and foreign exchange markets:the dollar, the yen and the euro, very good book for beginners.

http://www.ac-markets.com/forex-reso...orex-book.aspx
This is the link, don’t know if I can post it thou

i recommend this book "Trading as a Business "

For just some general reading that is more related to a profitable traders mindset I would recommend Think And Grow Rich by Napolean Hill, of course Rich Dad Poor Dad, and Bird Watching In Lion Country is a must read as well. Hope you enjoy them!

is good to read some money management and risk management books.
also trading as an bussiness it haves 10chapters.

The books you want depend on what you want to learn...is it fundamental analysis, technical s (indicators), market psychology and handling emotions, inspirational material (stop laughing im serious!)-you will need these to get you out of the dumps!

there is no "best" book but the ones highly recommended
1.trading in the zone
2.think and grow rich-
3.bird watching in lion country.

but the best teacher is your charts- funny enough the successful traders ive met studied their charts for about 8 hours a day for 3-6 months before patterns started becoming so bloody predictable.....now they r living large...

anyone read any kathy lien's book?
any review?

heard she's quite highly regarded