A Good Forex Trading Book For A Noob

Try "Technical Analysis of the Financial Markets" by John Murphy. Very good book.

How does this compare to Pring's book "Technical Analysis Explained"? I already have the Pring book. Is it worthwhile buying Murphy's as well?

Thanks.

For an absolute beginner, definately take the time to complete the babypips school, if for nothing else, to know that you can complete something from start to finish, most learn enough and then want to throw thier money in the big pit!

Then check on Amazon for the #1 best selling book on Forex, hint it has bootcamp and fx in the title; they have heaps of videos on Youtube also.

And if you don't want to spend, Google is your friend.

By now, they will be feeling they know it all, open an account, but remember, December is terrible time for markets.

Hi,
unfortunately I haven't read Pring's book so I cannot say anything about it. As for Murphy's book I could just say that couple of my friends (traders) strongly recommended it to me.

Try Japanese Candlestick Charting techniques - by Steve Nison. It's a good starter with basic information about chart analysis which you can apply to Forex charts.

The biggest problem I've found with attempting to find some good forex books, is that often the reviews vary so much.. It's really hard to find something that has consistently good (overall) reviews..

I'll check out some of the recommendations here.

Thanks

Thanks for replying.

I would really recomend the following "teachers"
Sam Seiden
Nial Fuller
Hector Deville
John Templeton "Trading in the buff"

I put some of the free stuff they have released here
http://minus.com/ghilfx#!/mQzD7AmbG

There is lots of great stuff there.

I just ordered the following:

The Evaluation and Optimization of Trading Strategies, Robert Pardo

The New Trading Systems and Methods, Perry J Kaufman

The Way of the Turtle, Curtis Faith

Trading in the Zone, Mark Douglas

High Probability Trading, Marcel Link

The Little Book of Currency Trading, Kathy Lien

I'm hoping they're okay..
I'm trying to avoid getting too many books that just rehash the same information / basics over and over.
I also like the idea of getting books that cover forex from algorithmic, programming, mathematical and statistical
perspectives.

Books are great, but I've found much more practical and helpful information here on FF and elsewhere on the web.........only problem is, there is so much information it's hard to know where to start.

I'd also recommend 'Romancing the Price' thread, and then hang out and lurk on "Price is Everything" to see actual trades.

Also go to www.fxstreet.com and check out the webinars section, in particular, search for webinars by Sam Seiden, he's really good.

someone else asked about a good blog?

http://www.nobrainertrades.com should be on everyone's bookmarks IMHO

Just my 2c

Also, I'm sure you will spend much time in the 'Systems' part of Forex Factory, and there are some interesting threads there - but don't neglect the other areas' - particularly 'Trading Discussion' - there is some real great stuff in there.

I have read all the books listed in this thread and many many more not listed here. Many helped me learn about FOREX in general. Some had methods/systems but I use none of the systems/methods in the books I read. Reading and studying is integral to trading. One must do it to find what is good, what is bad and what is BS. Unfortunately there is more bad and BS than good. I have wasted money on paid systems that I was lured into on youtube. The systems/methods I use now I did not pay for.

I recommend "BS trading with Kenneth Lee" simple and easy to follow.
"price is everything" is more advanced and will be difficult for noobs.

In the end it is the individual's desire, enthusiasm and very hard work that will lead to profitable trading. There is no holy grail. There is no single book that will make you a successful trader. Forexfactory is a great place to spend many hours reading threads and learning from them. Pick a system or method that appeals to you and trade it on demo. It will not work for you most likely. Pick another one and another one and so on. It is the process that all traders must go through. This is learning. Eventually you will become wiser and be able to pick things from many method and compile them into your own unique trading style.

good luck

I've read most of the books mentioned above. Opinions will always vary about these things, but I think some of them aren't for noobs at all: what I found far more valuable than any of them, when I was starting off, was "Trading By The Book" by the great Joe Ross.

It's probably available in hardback by mail order from his website, but possibly if you look around via Google you might find some PDF versions of it available online, too.

Thank you .

Lot of good book recos are here for a newbie as well to others .

Appreciate .

mixter.

I have not read any trading books, a few pdf excerpts yes.

As for run a mile if anyone wants to charge to teach you, what utter boll***s, just due you due dilligence and then beg a good trader to teach you his stuff.

There are loads of great threads and great traders here on FF, hunt them out and get learning.

Give it 3 to 5 years of hard graft and you should become profitable.

You can learn a lot from books. I would recomend setting up a demo account. Trade that for several months, just as if it were your real money. Then open a live account with a small amount (ie less than $500) and then trade that using the techniques you have learn from the demo account.

Trading is a mental emotional game and unless you feel the ups and downs only when real money is a stake.

Nice! I have been looking for this book

I think for getting into the basics, there is more than enough information on sites like babypips etc.

I highly recommend Trading in the Zone. Like mentioned above, it's about psychology in trading. When you already started live trading ( and lost some money) then you will be just nodding on every page you have read. One of the most helpful books I've read.

To built up the rest of your trading skill, talking to other traders will help you most