A person who has decided to embark on the path of mastering the Forex market and wants to learn the rules and nuances of successful activity on it, first, has to get acquainted with the theory if trading to avoid a huge number of stupid mistakes and monetary losses. There are a few good books that will help you to get a grasp of online broker trading. However, these books are useful not only for beginners but also for any market participant wishing to improve in the field of trading. We offer you to you the eight best books on the Forex market.
1. ” Market Wizards “, Jack D. Schwager
A series of two books. The author is a well-known finance specialist and offers his readers a very valuable selection of interviews with great traders in the last 30 years. Each character of the book introduces the interviewer to his or her success story, tells about the difficulties encountered on the way and ways to overcome them. It is interesting to find out about absolutely different, but effective methods of trading.
2. “Making of a Stockbroker”, Edwin Lefèvre
This 1925 book is a biography of Jesse Livermore – a legendary speculator – and helps to understand the psychology of successful trading.
3. ” Candlestick Charting Explained: Timeless Techniques for Trading G. Morris
The author is a true professional in the field of technical analysis – he tells in detail about one of the most popular and effective methods of analysis with the help of “Japanese candlesticks”.
4. “Way of the Turtle: the Secret Methods that Turned Ordinary People into Legendary Traders”, Curtis Faith
An interesting tutorial telling about an experiment in which a newcomer was trained in trading. All actions are described in detail: from entry and exit tactics to applied trading rules.
5. “Hedgehogging” Barton Biggs
Many market participants recognize the book as a real masterpiece. Although it may initially be a literary work, a more detailed examination of the book fully reveals the hedge industry.
6. ” The Trading Game: Playing by the Numbers to Make Millions,” Ryan Jones
An effective tool to help you learn how to handle capital. The key points of the book are risk control and the creation of successful money management strategies.
7. “Chaos Theory: Overview” Bill Williams
It is a bestseller book on stock trading. The practicing trader Bill Williams takes as a basis the opinion that markets are a natural phenomenon, not subject to the law of linear mathematics, statistics and physics. The author shows how to earn in this chaotic market world. He also pays much attention to the psychology of trading, analyzes common mistakes that traders face. The book is simply written, with clear explanations of complex market phenomena.
8. “Technical Analysis of the Financial Markets” John J. Murphy
This book is rightly considered the best one on technical analysis of markets. Murphy explains the methods of technical analysis and shows how they can be applied in practice. It clearly shows how to “read” the chart, how to predict the market, how to analyze the price models. The book is written on the principle from simple to complex, all the materials are very well-structured.