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Forex Trading Books To Get The Good Times RollingTo the fellow read-aholics out there dying to get their head into a forex trading book, I want to stop you from getting lost in an endless crusade.  With so many books to choose from, here I share the books that I found most valuable on my trading journey, so they may spare you the limitless search for knowledge that I had.

Trade Your Way to Financial Freedom

By Van K. Tharp

Trade Your Way to Financial Freedom This is my favourite trading book. My do I like it? It’s comprehensive, has a lot of useful information for trading success and doesn’t get a trader bogged down with technical indicators like a lot of books.

The most important thing I got out of it is about thinking in terms of Risk-multiples (reward to risk). The book is suitable for beginning, intermediate and advanced traders. However a beginner is probably best to start with something less advanced so as not to feel overwhelmed with information.

Trade Your Way to Financial Freedom

Click to tweet: This Van Tharp book rocks! http://www.traderrach.com/forex-trading-education/forex-trading-books-to-get-the-good-times-rolling/ @TraderRach

Trading for a Living: Psychology, Trading Tactics, Money Management

By Alexander Elder

Trading for a Living: Psychology, Trading Tactics, Money Management This is a great place for a beginner to start. It gives an overview of money management, trading psychology and technical indicators. The value of this information will become more evident when you’re trading increasingly larger values on a live account.

It’s an excellent book to ease you into the key principles of trading. It’s important when reading it not place too much emphasis on the value of technical indicators. In practice less is more.

Trading for a Living: Psychology, Trading Tactics, Money Management

Click to tweet: This Elder book’s gold! http://www.traderrach.com/forex-trading-education/forex-trading-books-to-get-the-good-times-rolling/ @TraderRach

Trading in the Zone: Master the Market With Confidence, Discipline and a Winning Attitude

By Mark Douglas

Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude I read this book while on a tropical island beach. Sounds crazy I know. Why wouldn’t I be relaxing with a trashy novel? This book was really great to read when you’re away from the markets and can take the time to fully reflect on your trading experiences and put them into the context of what is said in the book.

This book took my trading to a new level by providing me with beliefs to internalise being detached from individual trades outcomes to let the edge be fully realised in my account. I didn’t take up the very end part where he starts outlining a particular trading style. That is a preference of his and many styles work.

Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude

Click to tweet: Gotta have Douglas’s book: http://www.traderrach.com/forex-trading-education/forex-trading-books-to-get-the-good-times-rolling/ @TraderRach

Day Trading and Swing Trading the Currency Market: Technical and Fundamental Strategies to Profit From Market Moves

By Kathy Lien

Day Trading and Swing Trading the Currency Market: Technical and Fundamental Strategies to Profit from Market Moves (Wiley Trading)This is a good book that gives traders an overview of the currency market. A resource so you can have an understanding of the product you’ll trade. However I found the fundamentals of limited value as I’m a technical trader. The information about session movements, correlated pairs and news announcements made the book worthwhile for me.

It’s a must read for someone new to forex or if you haven’t read a forex specific book before. You’ll still need to go elsewhere for knowledge with other essential factors of trading, like a system, money management and trader psychology.

Day Trading and Swing Trading the Currency Market: Technical and Fundamental Strategies to Profit from Market Moves (Wiley Trading)

Click to tweet: Lien’s book seriously good! http://www.traderrach.com/forex-trading-education/forex-trading-books-to-get-the-good-times-rolling/ @TraderRach

Share your thoughts

Have you read these books?  How did they help you?  What other books had a major impact on your forex trading?  Please do tell in comments below.

And do yourself a favour.  BUY NOW and don’t leave let this moment pass with hesitation.  Your trading will thank you for it.

Please leave a comment below and click the like/share buttons

About Rachel Hunter TraderRachAbout the Author: I’m Rachel Hunter, TraderRach, a Forex Trader who helps traders achieve the life they love with forex.  Be strategic and design your trading business for sustainable success and have fun!  That’s my mission.  Join many traders’ gaining the edge with “10 Powerful Lessons for Forex Trading Success” plus other goodies.  Years of precious learning specially packaged up for you.  My background before trading is as a Chartered Accountant and Chief Financial Officer.   I know what it takes to make a trading business rock on.  It would give me great pleasure to make a difference to your success.

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13 Responses so far.

  1. Chris says:

    Have to agree with you about trading in the zone, I think it is the most valuable book to have been written about trading. I’ve read it several times, have recommended it many times and will continue to do so.

    Will check the others out and let you know.

  2. Allan (Omni Zeus) says:

    I’ve read through Trading For A Living a couple of tmes and found it very informative. I use some of the ideas Dr. Elder describes for my forex trading on a daily basis.

  3. Tad says:

    While it may not be directly tied to trading, though the author has traded currencies, Nassim Nicholas Taleb’s Fooled by Randomness and The Black Swan give good perspectives on never becoming too confident in a strategy or system.

    His opinions may be a little strong but these are interesting reads and are directly related to understanding the roles of chance and unpredictable events in the forex market.

    • Hi Tad

      Understanding the roles of chance and unpredictable events in forex are highly important topics.

      Thanks you for letting us know about the book. I’ll give it a read.

      Cheers Rach

  4. James says:

    really like this post, nice and simple. I have trading in the zone in front of me now as I am composing a new article on my blog. I just ordered the first one from Amazon on your recommendation.

  5. Annette says:

    I agree with you about the Kathy Lien book. While a great read as her other books, it didn’t really help my trading as I am a technical trader as well.

    I picked up a book from 1on1fx titled Trading The Forex Market-Repeating Setups That Beat Your Broker off of their website. It definately helped me with my trading & money management.

    It’s a relatively small book but every page is about real strategies and how to manage your trades. It also taught me how to manage the trade by finding good exits when the trade is profitable. Most books leave this important aspect out.

    It doesn’t tell stories or go into the author’s personal trading adventures so it’s not like a traditional book. But if your looking for a book purely about trading it’s worth a read.

  6. David says:

    Hello Rachel, looks like I still have a lot of reading to do, I’ve read just one of those recommendations!
    I would like to add to the list though..
    For me, I think that if I were limited to just trading book, that would be The Way of the Turtle by Curtis Faith. It has everything, including a good story! Ciao

    • Hi David

      Yes, the book Way of the Turtle by Curtis Faith is a great read too. What a cool experiment to be involved in too (those who’ve read the book know what I’m talking about).

      Thank you for sharing your book recommendation.

      Cheers Rach

  7. Stephanie says:

    Hi Rachel
    I have heard great things about Mark Douglas’s book – in fact my husband rarely goes to bed without re-reading a chapter and refuses to go on holiday without it! (it’s next on my reading list when I can prise it out of his hands!)

    The books that I’ve found most influential on my trading are Bill Williams’ books – Trading Chaos (editions 1 and 2 – they are quite different) and New Trading Dimensions (also by Williams). Williams’ emphasis is on psychology and he looks at the markets as a natural chaotic system (he also goes a little bit into Elliot Wave analysis). It’s wonderful stuff for a beginner trader – a lot about trading your belief systems and how to alter your belief systems to align with the market. I highly recommend them.

    I really enjoy your blog – great to read about a fellow antipodean female trader!

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