Once you decide to gain an education in trading forex, the task can become overwhelming, as there is a lot of information out there. Although many forms of education have taken a more technological approach lately, traditional books are still very informative and should not be discounted when it comes to providing traders with useful knowledge. Those that prefer the more technological means of learning can also benefit from these books by purchasing kindle or audio versions. Below, we will highlight some of the best books for forex traders on their beginning journey.
#1: Currency Trading for Dummies by Kathleen Brooks
The name of this particular book is quite telling, as it starts by focusing on the most basic concepts related to forex trading. This user-friendly guide doesn’t only explain what the forex market is and how it works, but it also guides trader’s through more complicated topics like risk-management while explaining things in a way that is easy to follow. You can buy the book on Amazon for $19.49 or purchase a kindle-based version if you’d prefer. Try checking other major bookstores for copies if you’d prefer to buy this book in person without waiting for shipping.
#2: Forex Trading 2020: Beginner’s Guide by Norman Davidson
This book offers secrets, strategies, and covers the psychology behind trading. According to the book’s description, it teaches traders to make $10,000 per month in “no time” – but we would recommend taking that comment with a grain of salt, as you’d undoubtedly need a large starting deposit and more developed skills to meet this goal. Still, this book has received a 4.7-star rating with most readers finding the book to be a helpful insight into forex trading. The audiobook is free with a 30-day trial on Audible, or it can be purchased for $14.95 without the free trial.
#3: Forex Trading for Beginners: The QuickStart Guide to Successfully Investing and Make Profits in the Foreign Exchange Market with Simple Strategies. A Step by Step Trading Plan to Control Your Emotions by Paul Cohen
The number 3 book on our list is a great option for those that are inspired right now, as it can be purchased at your nearest Walmart for only $17.38. While this choice is also targeted towards beginners, it also covers some ever-important psychological aspects related to trading forex. These psychological tips can really come in handy later on as traders start to feel the pressures of trading.
#4: A Beginner’s Guide to Day Trading Online by Toni Turner
This is a more specialized option that appeals to aspiring day traders. Day traders generally place trades during the day and closing all of their trades out before the end of the day, rather than allowing trades to rollover to the next trading day. If this strategy goes along with your time schedule, then this book could be a great purchase. You can buy the kindle version on Amazon for $12.99 or purchase the paperback book for $10.99.
#5: Trading Forex for Beginners 2020 by Martin Satoshi
This advanced audio guide can be purchased on Audible for $14.95, or you can listen for free by signing up for a free trial through the website. This book is described as being an excellent place to start for those that are new to forex trading, and it also gives more advanced advice that can help you down the road. More than 100 users have given this audiobook a 5-star rating with positive comments.
#6: Forex Trading Made Easy for Beginners: Software, Strategies and Signals: The Complete Guide on Forex Trading Using Price Action by Marlon Green
This book is one of the top results on Google and can be purchased for only $0.99 through the Google Play Store. It serves as an introductory book that delves into more complex methodologies later on. One downside to this option is that some users have commented that they didn’t find it particularly helpful, but the book is worth mentioning for the fact that it focuses on novice traders and can be purchased for less than a dollar. Since you can download the book on your phone, it would be a good read while sitting in a waiting room, waiting for dinner, or while relaxing at home.