Forex Book

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.

Trade Like Jesse Livermore by Richard Smitten is a result of over two years of the deep research. It follows the life and the trading career of the famous stock trader Jesse Livermore. This book describes all technical aspects of the Livermore’s system — order conditions, timing, money management and emotional control. Jesse Livermore is famous for living through many stock market crashes and gaining success in every kind of a financial market. His career became a basement to several trading books. Trade Like Jesse Livermore tries to offer something similar to Livermore’s system but, unfortunately, you can’t know for sure if it’s exactly that system. Anyway, you can read the book and find out at least some parts of that successful system.

Mastering the Trade — a 2005 book by John F. Carter, the experienced trader, trading teacher, innovator and maybe even scientist. Mastering the Trade like many others covers almost all topics related to trading and tries to teach a reader everything that according to the author’s opinion is required to be a successful trader. But this trading book covers also such rare topics as hardware and software for trading, pivot points, trading on the market opening gaps, scalping and other such interesting aspects of trading. Actually this book will not only help you "master the trade„, but, if you are professional trader, it will open your eyes on many new things that you probably haven’t seen or thought about before. Two of the best chapters of this book are about compiling the intraday trading plan and the trader’s “business plan" — a definite must-read for every Forex trader.

Trade Your Way to Financial Freedom is one of my personal favorite trading books. From this book I’ve learned a lot about position sizing and trading system development. It’s definitely a must read book for almost every financial trader. You’ll learn how to effectively manage your risks and capital according to those risks. From this book you can learn about the expectancy orientated trading and even how to build a trading system that is based on the expectancy. The big part of this book is dedicated to the R-multiples — one of the best indicators of the trader’s money management. Trader’s psychology is also an important topic in some of the book’s chapters. Third part of Trade Your Way to Financial Freedom is about strategy building, entering and exiting the market and the position-sizing strategies.