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Top 10 Best Books for Forex Training and Education

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Forex trading is quickly becoming a popular topic online among people that are looking for a way to bring in extra income. For those that aren’t up-to-date, forex refers to the buying and selling of foreign currencies through the foreign exchange market. In today’s modern age, traders can conveniently open a trading account online without jumping through hoops, however, you’ll need good knowledge and understanding of forex trading and the factors that affect the market in order to succeed as a trader.

There are a lot of resources available that can help you along the way, including articles, forums, and videos. Yet another option comes in the form of traditional hardback books or audiobooks. Book lovers rejoice! There are hundreds of trading-related books out there, so get ready to curl up with a good book and learn about a useful skill that can help you make real money as we walk you through the 10 best books for forex trading education.  

  • Currency Trading for Dummies by Brian Dolan

Currency Trading for Dummies is first on our list because it covers all the basics you’ll need to know as a forex trader. Beginners should definitely read this one first to get the best start, as the knowledge you gain from this book can help you make sense of more complicated material later on. More experienced traders can learn a thing or two from it as well, so don’t discount this option if you need to brush up on the basics.

You can pick up a used copy of Currency Trading for Dummies for approximately $5 at Thriftbooks.com or expect to pay $16+ if you purchase it new through a different seller. 

  • Forex Trading: The Basics Described in Simple Terms by Jim Brown

The title of this book does a great job of describing its purpose, which is to provide understandable explanations about some of the hottest trading topics. In his book, Jim Brown touches on basics, the benefits of forex trading, choosing brokers, strategies, and even dives into psychology-related content. The variety of topics can help beginners to gain a good initial understanding of what they need to know when it comes to a variety of helpful topics and this book can even help with building your trading strategy. 

If you’re willing to use an eBook, you can acquire Forex Trading: The Basics Described in Simple Terms for about $9.99 through Barnes & Noble. If you’re looking for a physical copy, the price is around $25. 

  • Japanese Candlestick Charting Techniques by Steve Nison 

This book focuses on providing an in-depth explanation of candlestick charting analysis and techniques, which can be used in many effective forex trading strategies. Information online can become confusing on this topic, so this book is a great go-to if you’re looking for a compiled list of information on the subject without having to watch a hundred different YouTube videos. 

You can pick up your copy of Japanese Candlestick Charting Techniques through the Google Play Store or eBooks online for about $15, while physical copies can sell for $40 or more. 

  • How to Start a Trading Business with $500 by Heikin Ashi Trader

Heikin Ashi provides a more specific guidelines that can help aspiring traders with limited capital get off to the right start. It explains how to get started with the $500 investment and helps with communication skills, learning and practicing good trading habits, and offers tips that will help you work in the market. This is a great pick for those that want to start trading with a lower initial investment.

If you’re interested in How to Start a Trading Business with $500, you can purchase it for as little as $5 through Google Play or order a new copy through Amazon or another seller for a starting price of $15. 

  • The Disciplined Trader by Mark Douglas

Rather than focusing on the more technical aspects of trading, author Mark Douglas dives into the often-overlooked psychological connection between emotion and trading decisions. Traders that understand the impact their emotions can have on their trading decisions are far more likely to pick up on this problem and to make wiser, more informed trading decisions. Trust us, trading psychology is not a topic you’ll want to skip if you’re looking for a complete trading education. 

The Disciplined Trader is available at Target and Walmart for $33.99, or you can pick up a cheaper used copy through sources like eBay, AbeBooks.com, etc. 

  • Technical Analysis of the Financial Markets by John J. Murphy 

Technical Analysis of the Financial Markets tackles the more difficult topic of technical analysis by providing detailed explanations and helpful visual examples of charts. This book does dive into more advanced topics, which makes it better for traders that have already read some of the books on our list. Still, this is a great way to familiarize yourself with technical analysis without jumping from topic to topic or missing out on any important information like you might when conducting self-guided research.

The cheapest option we found for technical Analysis of the Financial Markets was $3.99 for a used copy on eBay, with newer copies selling for $20+ through popular retailers like Target. 

  • Currency Forecasting by Michael Rosenburg

Currency Forecasting also tackles the subject of technical analysis, while also covering fundamental analysis concepts as well. The author formerly worked as an analyst and provides traders with insight into important factors that can help predict prices in the forex market. 

Unfortunately, it’s a bit harder to find this book because it is out of print with limited availability. Your best bet would be to watch used book sites or eBay to find a copy of Currency Forecasting. One wasn’t available when we checked, but you shouldn’t cross this insightful option off your list. 

  • Trading in the Zone by Mark Douglas 

Mark Douglas wrote this book in addition to our list’s #5 choice The Disciplined Trader. If you liked his first book, you’re sure to find this one to be a worthy read. It similarly covers psychology-related trading topics, but dives into different topics like the technique of control, while helping traders to recognize and monitor emotions that they feel while trading. 

You can currently pick up a used copy of Trading in the Zone for as little as $2.99 on eBay or acquire it for $14.99 through Google Pay. Expect to pay prices in the $40 range if you pick up a new physical copy through a retailer like Target. 

  • Day Trading and Swing Trading the Currency Market by Kathy Lien 

Globally acclaimed currency analyst Kathy Lien wrote this book to cover more advanced topics that relate to currency trading, including fundamental and technical strategies, interest rate differentials, and factors that affect the market’s currency prices. If you’re a beginner, you might want to read through a few of the other books on our list before moving on to this option, as it deals with impactful information that is more suited for advanced traders. 

When we checked online, we found used options for Day Trading and Swing Trading the Currency Market starting as low as $0.99, with newer options listed at $45+ on sites like Amazon.

  •  Market Mind Games by Denise Shull

You might be able to guess that Market Mind Games is another psychology-related trading book. Once again, we must dote on the importance of understanding the way that psychology and emotion affect trading decisions, and although this book is considered fiction, it serves as an excellent mind exercise for forex traders. You might want to save list one for last so that you can grasp the book’s concepts more easily as it covers some information that is a bit more advanced.  

You can pick up a new copy of this book for around $32 at Barnes & Noble, or you can order it online from Amazon for $20 if you don’t mind waiting for the book to be shipped to you.

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