Forex Book

The Currency Trader’s Handbook (Strategies for Forex Success)is a 2006 book on Forex trading written by a very popular author, mentor and Forex guru, Rob Booker. It can be recommended either for the beginners of the currency trading or for those who already know the basics and have fundamental and technical skills but wish to develop a good and effective trading strategy. But the biggest advantage of Rob Booker and this book in particular is that it’s very easy and interesting to read and even those who know nothing about Forex (or even financial trading) will find it fun, amusing and captivating. The book is also very short and can be read in an hour or two without any serious efforts. So, that’s just 1–2 hours of your life for some seriously experienced trading recommendations that can be used for life.

How to Make a Living Trading Foreign Exchange (a Guaranteed Income for Life) is a complete guide to Forex trading written by Courtney Smith. The whole book is dedicated to creating a real Forex trader out of a Forex loser. 90% traders lose money, only 10% don’t lose in the foreign exchange market. And only 5% of traders earn profit. The aim of the book is to show how profit can be made continuously and in a guaranteed manner. The book lays out some basic information about Forex trading, goes into trend analysis, shows several very effective trading strategies, talks about risk management and psychological problems of trading and finally tries to help you put this all together to become a really successful trader.

Forex on Five Hours a Week or How to Make Money Trading on Your Own Time is a nice book which main priority is to explain how to become an efficient trader that values his time. There is a rather old stereotype that such endeavor as Forex trading is very time-consuming and that you can’t be successful at it without dedicating a lot of time to learning, studying, analyzing and monitoring the market. In fact, one can become a rather profitable trader spending only a fraction of his time on Forex trading. This can be accomplished by learning only the necessary information and determining your own (fitting your lifestyle and personality) style of trading. After reading this book, you’ll be able to develop your trading plan that will be organized enough to provide with all the necessary instruments to earn profit on the Forex market, but still be able to control the time you spend on it. This book can be recommended to the traders of all levels of expertise, but especially to those of them who wish to become or remain the part-time Forex traders.

The FX Bootcamp Guide to Strategic and Tactical Forex Trading is a complex e-book written by Wayne McDonell to help the Forex traders to go from the ”rookie” to ”officer” rank in currency trading. This guide is written in a rather humorous military/Forex slang, making it a very easy read, which gives it a big advantage before those boring Forex trading books. FX Bootcamp Guide provides a lot of examples, practice exercises and offers all the information required to trade Forex profitably. It’s just a matter of dedication of the potential trader to read this book and implement the gained knowledge.

Trade Chart Patterns Like the Pros will teach any Forex trader (expert or newbie) when and how to trade using the bare charts, without any indicators or oscillators that are so popular among the pro-wannabes. The 65 chart patterns outlined in this book are all described in details with the real-life chart example to make the understanding easier for all types of traders. Of course, all Forex chart patterns fail sometimes but the point of this book is to show you what patterns to avoid and when to use them for their full profit potential. For each pattern, the entry and exit conditions are provided giving you a an extremely useful tool if you plan to create your own trading strategy from just reading this book. Traders of all experience levels and all financial markets will benefit from it.

Beat the Forex Dealer (An insider’s look into trading today’s foreign exchange market) — is a book by Agustin Silvani, one of the pioneers of the foreign exchange traders and a successful Forex portfolio manager at MIGFX. This book about Forex trading states that trading the foreign exchange market isn’t easy, that even the most famous traders and investors sometimes lose at Forex. The Forex market is always against the trader, especially a new and unexperienced trader. This book was written to help all types of traders to learn to avoid the traps and caveats of the modern foreign exchange market — be it a Forex broker’s stop-hunting, or some obvious mistakes by the trader himself. The content of this book will teach you how to remove that gambling element from your trading and turn Forex into a profitable profession.

7 Winning Strategies for Trading Forex (Real and Actionable Techniques for Profiting from the Currency Markets) is a major strategy book from a full-time Forex trader and an author Grace Cheng. Although this Forex book is more appropriate for the unexperienced Forex traders, those who already trade in the currency markets will also find this book useful. Some basic knowledge about the Forex trading charts and process is required to understand the strategies presented here. Seven technical and fundamental Forex strategies are presented in this book and they all are accompanied by the author’s details, recommendations and guidelines, so that each of them could be optimized according to the trader’s style and needs. The proposed Forex strategies are: Market Sentiment, Trend Riding, Breakout Fading, Breakout Trading, Decreased Volatility Breakout, Carry Trade and News Straddling. The book also features an introduction into Forex market, a Forex glossary, currency codes and the list of global major regulatory institutions of the Forex market.

Fooled by Randomness or The Hidden Role of Chance in the Markets and in Life is a very interesting research book on randomness but it completely lacks the scientific terms or complexity. It’s a story told by the expert trader about the randomness itself, its effect on our life, on the markets and on our vision of the surrounding world. The randomness is one of the most important parts of the Forex market (and any other financial market out there). That’s why it’s very important for traders to see the probabilities right and be capable of measuring almost everything in terms of probability. This book can be of a great help to any trader and not only trader but almost anyone. Although it may look a bit “crazy”, it’s very easy to read and you’ll rarely need to reread paragraphs to understand them properly.

“Point and Figure Charting: The Essential Application for Forecasting and Tracking Market Prices” is a real holy grail for the point-and-figure Forex trader. The great advantage of this book is that the author dedicates a good part of it to explain the basics of point-and-figure charting thoroughly, so that a person without a slightest understanding of this charting technique would become fluent in point-and-figure methods of analysis, being able to plot such charts by hand and understand their fundamental background. From the technical analysis point of view the point-and-figure charts represent a completely new field for an effective forecast building. This methodology, which is detailedly described in the given book, allows building the leading indicators instead of the usual lagging technical indicators (like moving averages or MACD). I recommend this book to all categories of traders — newbies and professionals, technical analysts and fundamental analysts, scalpers and swing traders.

Currency Strategy — a Practioner’s Guide to Currency Trading, Hedging and Forecasting is a fundamental Forex book written by Callum Henderson and is quite unique in its own way. It doesn’t describe the techniques of Forex trading but rather shows the mechanics that lies behind the foreign currencies exchange market, the fundamental background of the currencies. It offers an extensive array of fundamental analysis techniques and models that can be used to determine the levels of strength of the particular currencies or groups of currencies. «Currency Strategy» goes also into the risk management and control field to teach the reader how to properly manage currency trading, hedging or to produce quality Forex forecasts. If you are a fan of technical analysis, this book won’t be very useful to you, but if you are fundamental trader — this is one of the best books on the topic you can ever encounter.

Technical Analysis of the Currency Market is a book written by famous Forex market analyst Boris Schlossberg (he have been working for such industry giants as FXCM and GFT). The book is very easy to read, well structured and explains the most popular and basic techniques that can be used by almost any beginning trader. It won’t teach you how to become rich, it also can’t help yo if you are already an experienced Forex trader; but if you are relatively new to Forex and are longing to the technical trading, this e-book will allow you to master all the aspects of currency trading: charts, patterns, trends, ranges, Fibonacci, money management. The final chapter is a real cherry on top as it puts everything together and explains how to actually apply all the knowledge that is shared in the previous chapters.

Profiting in Forex is actually a set of presentational slides by Steve Nison that explain how to use the candlesticks to catch the next move on the Forex market. It’s done in a very descriptive manner — all slides are very easy to read and understand, while each of them consists of a complete thought or advice about trading. The e-book covers all sorts of topics connected with candlestick trading. It’s a real practical manual without any theoretical lectures. You will find out the best-working patterns specifically for Forex market and you will also find out what patterns rarely work in Forex. I consider this e-book a real treasure for all those Forex traders that like me don’t like to use multiple indicators and prefer bare charts. The end chapter of the book is a bonus — «Steve Nison’s Forex Trading Lab», where the series of chart pattern examples are given in a question and answer type of study.

Beyond Candlesticks — New Japanese Charting Techniques Revealed is trading book by Steve Nison that follows his previous works Japanese Candlestick Charting Techniques and The Candlestick Course and goes deeply into the candlestick patterns and supporting methods and techniques. In this book author continues to view the Japanese candlestick charts as the best map of the market situation a trader can use, but it proposes not to limit oneself with the basic patterns and move on to applying other price charts techniques to the usual trading. The book features the basics on candlesticks, the patterns, the summarization of the candlestick patterns and charts, moving averages and the candlesticks, three-line break charts, Renko charts and Kagi charts. Recommended if you are fan of the Japanese candlestick charts and want to learn new ways of interpreting.

Bollinger on  Bollinger Bands is  book written by  the creator of  one of  the greatest technical analysis tool (Bollinger Bands) — John Bollinger. He  created the method back in 1980s when he  was new to  the markets and financial trading and needed some tool that would fit his trading philosophy and wouldn’ t  lag much like so  many other popular technical indicators. This book is  a  self-study of  the developed indicator and the techniques that are based on  it.  John Bollinger is  the opponent of  the very popular trading myth of « buying low and selling high». Instead he  offers his own approach to  the trading philosophy and explains it  in  this book. Here you will find a  descriptive research of  this technical analysis tool, three simple trading system that employ the Bollinger Bands and new method to  confirm predictive chart patterns using multiple timeframes and moving averages.

Selective Forex Trading promises to teach the trading technique that allows long winning streaks in Forex without losing a position. This technique was developed by the author of this book and is called S90/Crossover, which name refers to the author’s last name and 90% winning probability. Not that I am huge believer in the trading systems with the high accuracy expectations, but this Forex book has something interesting to offer. It provides a whole trading strategy based on the candlestick chart, River Oscillator Indicator (ROI), Fibonacci retracement levels and the basic line drawing. The author states that this system should be used alone without mixing with some other trading methods or previous strategies of the trader that wants to succeed with this new «selective trading». It’s quite an easy trading system and if you are newbie at Forex I really recommend it as your first one to start with.

Forex Wave Theory (A Technical Analysis for Spot and Futures Currency Traders) is a Forex technical analysis book about the wave cycles written by James L. Bickford. The purpose of this book is to answer the most important questions of the technical analysis — where and when. Where one wave starts and another finishes? Where are the critical points for setting of the stop-loss and take-profit levels? When is the right time to enter a position and when is the best time close it? Wave theory isn’t something fundamental and monolithic — there are many theories, many authors and many followers of different wave analysis practices. This book tries to research the most prominent of the theories and offer the practical methods of trading based on these theories. The wave cycles of various periods, length, and depth are described in details throughout the main part of the book. The final chapters are dedicated to the advanced parts of trading with the waves and dives into the theory of fractals.

21 Candlesticks Every Trader Should Know is both the learning book and the handbook in one. First, it will teach you how to interpret the Japanese candlestick charts, where to spot anticipation patterns, why it works at all and the basic rules of trading with the patterns. Second, it thoroughly describes 21 candlestick patterns that allow Forex (and not only Forex) traders to perform profitably on any type of markets — ranging, trending or a sideways saw. It starts off with the easy and popular chart patterns — such as doji stars and inverted hammers and finishes with some rather exotic candlestick patterns as black crows or harami. The exceptionally good thing about this book is that it doesn’t contain any extra information, it’s not very long and you can always keep it somewhere near your trading workplace to consult it when you spot some interesting chart pattern.

Optimal Trading Strategies is a book about the trading strategies — be it a Forex market or stocks. Optimal trading strategies have several things in common and for you not to wonder what are these things, how to find them and how to develop them in some other strategies, this book will show you in details why some strategies are better and what trading strategies work where others fail. Definitely not an easy read with almost 400 pages, «Optimal Trading Strategies» uncovers everything related to optimizing the strategies — starting from the transaction costs involved into the trading (spread for the Forex market) and finishing with the advanced trading techniques that involving dozens of math formulas that can really help all the traders that understand their profession at a very high level.

Beat the Odds in Forex Trading is written by the prominent Forex trader Igor Toshchakov, who is better known under his nickname L.A Igrok and the similarly named trading method by his authorship. The presented book is dedicated to detecting and benefiting from the high-percentage currency market patterns. The proposed method employs the short-term technical analysis and the special money management techniques. Upon introducing the basics of the method developed by him, Igor proceeds to the actual systems and strategies that can use this method as the basement for their rules. The offered short-term and intraday strategies are thoroughly described with all the applicable rules and conditions — both for entries and exits. In the final chapter of the book, the author gives out some templates that can help with the proposed technical trading systems.

Forex Revolution is an introduction and a guide into the world of Forex trading, which stands up from the several points of view — the basic, the fundamental, the technical and the professional. The book by Peter Rosenstreich approaches the Forex trading as a daily activity with the advantages and problems that are specific to any type of job, offering his own methods to employ its benefits and neutralize its disadvantages. The history of the currency trading is presented as something very important and is described thoroughly, while the some insights for its future are also given and they certainly deserve your attention. Forex Revolution will be an interesting book to read not only to the Forex beginners (on whom this book is actually aimed) but also to the professional traders that seek to gain more fundamental knowledge about the market.

New Trading Dimension is another book by the financial trading genius Bill Williams. Bringing the chaos theory into the trading is one of the most notable Bill’s ideas that have brought him success and allowed him to share his knowledge and techniques to make other financial traders succeed through these innovative and natural trading methods. This book explores the psychological abilities of every man and woman that allow succeeding in trading the currencies or in any other market, if the proper techniques are used. The non-linear methods proposed by Bill Williams offer a new approach to the technical analysis, which usually relies only on the straightforward liner and static analytical math. The good thing is that you don’t have to be a mathematical guru to understand everything presented in this book. All you have to do is to read it and apply the received knowledge in your actual trading.

The Trading Game is the new classics of the money management theory for the financial trading and investing. Ryan Jones starts off with showing some really evident examples of why the money management is so important in every activity that involves risk, then he continues with descriptions of some classic theories and techniques regarding application of the money management in the trading. Then he proceeds to explaining his own vision of the risk control and the reward-to-risk scheme, offering a completely new technique, which he calls Fixed Fractional and Fixed Ratio Trading methods. The main focus of the chapters, describing his methods, is on the proper relation between the risk, reward and the total trading account size.

Surfing the Market Waves is a documentation e-book written by Jan Arps to explain the usage techniques of the certain market indicators that were released in his Swing Trader’s Toolkit in 1998. But because the indicators of this toolkit (Elliot waves, ZigZag, various pivot points and Fibonacci retracements) are available to any Forex trader today (for example from MetaTrader 4 platform), the documentation from this book would be useful to any trader. The main idea of the book is to show the right techniques to use the right indicators in order to trade on the market swings — e.g. to buy near the low of the trend and sell near the high of trend. One of the best features of the swing trading techniques offered in this book is the low risk/reward ratio, which is keeping your capital safe and allows you to gain the profits.

Essential Technical Analysis is one of the many fundamental works on the technical analysis for the financial markets. This book probably won’t be very interesting to the experienced traders that already employ their own technical strategies and know a lot about the technical analysis from their own experience or from the knowledge earned before. But this book will definitely help to put a complete trading rookie on the hard rails of the technical analysis. Without going deep into describing and explaining every possible chart pattern, Leigh Stevens offers deep explanations of the basic principles of the technical analysis. All known problems, advantages, disadvantages, myths and other related facts a detailedly researched in this book.

Trading with the Odds is the untraditional view on the traditional technical analysis. The author offers a scientific approach to probability and statistics evaluation with the simplicity that makes it accessible by a common financial trader. This book proposes a new way to look at the markets — simultaneous views from the most important angles with the following compilation of the analysis results. The knowledge gained from this book will help you to replace empirical methods with mathematically derived models, manipulate the data to improve performance and to condense the information to improve your trading strategy further.