Forex Book

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.

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.

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.

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.

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.

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.

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.

The Encyclopedia of Trading Strategies is a comprehensive guide to the various financial trading systems and strategies, including their implementation using the modern charting, trading and artificial intelligence software. Not only the scientific approach is taken when the system development is researched in this book, but also many trading examples are given for an easy understanding of the concepts presented in this book. And, while this Encyclopedia of Trading Strategies can’t be considered a full compendium of all the trading strategies that currently exist, the most general types of such strategies are described and explained here.

Forex Trading Strategy is a name of the ebook that offers a trading strategy (surprise!) based on the ICWR phenomenon. That’s a rather strange name for the book but, nevertheless, it’s a good read if you are looking for a new strategy. ICWR — the main concept of this book, stand for impulsive waves and corrective waves — those have something in common with Elliot wave and Wolfe wave theories. The book begins with the general description of the Forex market and its advantages, explains the basic concepts of ICWR, presents the intraday and long-term trading rules based on the ICWR theory and offers the examples for both types of rules — intraday and long-term.

Sniper Trading Workbook offers a technical approach to the analysis of the overbought and oversold market situation with the possible relation the past cycles of the same instruments. This book is mostly about the stocks and some chapters of it can’t be related to the Forex market at all, but the main approach that’s described by George Angell is applicable in almost any financial market. The method itself is in some way a continuation of the Taylor’s technical analysis. Fundamental analysis isn’t touched in this book, but the technical side is approached in every possible aspect, from the charts to the trading days to the exit strategies.

Sure-Fire Forex Trading is a popular Forex ebook created by Mark McRae and aggressively marketed in the on-line Forex trading community. Although, it’s quite old now (more than 2 years old), it can be a good read for the new Forex traders and strategy collectors that wanted to look at this «Sure-Fire» system. The book is quite simple — has a lot of basic explanations and in the first half looks a lot like the School of Pipsology manual. The second half is dedicated to the system itself — I can’t say that it’s very unique strategy that can make everyone a profitable Forex trader, but it’s, nevertheless, interesting. Don’t know if it was worth its money to anyone, but this book is definitely worth reading — from the beginning if you are new to Forex and the second half — if you are the experienced trader and want find out more about the strategy promoted by this book.

Trading Systems and Methods by Perry J. Kaufman is a titanic trading study, which consists description of the every possible trading system and method. All those methods can be applied both to the stocks, commodities or the Forex market. It starts of with the regression analysis systems through cycle analysis, through point-and-figure charting to multi-timeframe and advanced systems. Not only several dozens of the trading techniques are thoroughly described in this book, there are also many useful tips and general information material that can help in the daily routine of the Forex trading. This book can be recommended to the professional trader and to the beginning traders as a desktop book as well. Despite this book being 10 years old already, it has a good portion of information regarding the new popular systems — like neural networks and those based on the fuzzy logic.

Trading Chaos is one of the greatest trading books from one of the greatest writers and the leading theoretician of the dynamic trading — Bill Williams. If the only tools that you use to trade are the «linear» ones — like moving average, RSI, MACD etc. — then you will definitely revise your trading style after reading this book. Going from nature and its laws to market and its connection with natural laws, Bill Williams will lead you through 5 levels of trader’s proficiency and expertise. This book is worth reading even for tough and experienced traders who think that they know everything. New trader that starts from this book will encounter significantly less mistakes and problems during his practical course.

The Market Guys’ Five Points for Trading Success is a general financial trading book that professionally teaches reader the major points of trader’s successful behavior. The authors of this book — AJ Monte and Rick Swope are both professional traders, experienced analysts and long-time trading teachers. Their book adheres to their trading philosophy — Keep It Super Simple (KISS). They try to understand something difficult (e.g. Forex trading) in a super simple way. And they also try to make their readers use this philosophy in trading. Their main five points of success are: following the trend, finding support level, waiting for pivot points, protecting position and acting for result.

Getting Started in Currency Trading — a well composed Forex book that goes from the very beginning of the acquaintance with the currency trading market, continues through the all known techniques of Forex trading and finishes with the abundant list of appendices and references that might appear useful even to a very experienced trader. Notable chapters of the book include: getting started in Forex, the history of Forex market, Forex terms, selecting a Forex broker, mechanics of Forex trading, trading calculations, fundamental analysis, technical analysis, money management and psychology, trading tactics, record keeping, situation management and some advanced topics. Appendices include the following information: list of the world currencies and symbols, exchange rates, information on euro, time zones and global banking, central banks and regulatory agencies. Apart from common reference list, this book also offers a list of Forex trading related websites.

Entries and Exits — an innovative approach to the trading writing by the author of popular books — Trading for a Living and Come Into My Trading Room. This time Alexander Elder invites his readers and fellow traders to join him in the trading rooms of sixteen expert financial traders to learn their strategies, secrets and tips. This books offers 16 different role models of the professional trader to follow. Why would they share their trading methods and strategies? Because they know that knowing a method and strategy is only a part of success. More important is that the author shows why these traders are successful, why their overall behavior should be modeled. Every human person is different, what works for one won’t work for the other, that’s why there are 16 trader models are offered — reader will be able to find those behavioral tactics and trading strategies that would fit his psychological character.

Candlesticks, Fibonacci and Chart Pattern Trading Tools reveals the strategy that according to the authors of this book is capable of improving trader’s performance, reducing his risk and increasing his profits. Trading tools are used with conjunction with many vital rules that are explained throughout the book. Any signal should be produced and executed with the extreme precision and accuracy. Not only the candlesticks, Fibonacci levels and various chart patterns should be considered valid systems, but other approaches may be added. One trading approach should be applied to more than 5 various trading products to reach the desired diversification level. Stop-loss, as well as the planned profit target, is a crucial part of any trading signal. A given trading approach should only be used in the appropriate market conditions.

A Complete Guide to Technical Trading Tactics is a book dedicated to the less conventional trading indicators such as candlesticks, pivot points and pyramid approaches. It’s not limited with depicting only one strategy; instead it offers the set of loosely connected indicators, techniques and tips that can be used in any financial market — Forex, stocks, commodities etc. The information presented in this book will be found useful not only to the inexperienced or medium level traders, even professional traders will find something of interest and use there. John Person had more than two-decade experience in trading and brokerage when he wrote this book and he talked with many other successful traders during his career. He tried to include all the knowledge he collected into this work.

Trading in the Zone is a trading book dedicated to the psychological training of a trader. According its author, Mark Douglas, trader’s mindset should be significantly different than a common real-life mindset. The greatest profits are made in financial trading only by those who switch their minds to a completely different way of thinking that would allow them to overcome some of the biggest problems — the psychological problems of trading. Those problem include: the unwillingness to create any rules for trading, failure to take responsibility for the own steps, addiction to the random rewards from the market, giving oneself to the extern control of the trading rather than the internal control of self. Trading in the Zone is the in-depth look at the challenges that every trader faces daily and that the majority of traders fail to overcome and lose their money and waste their time.

Trading with DiNapli Levels is a trading book by Joe DiNapoli that describes a certain complex technical indicator that he has invented and that is usually called DiNapoli levels. The whole indicator is based on the Fibonacci levels and is some way is just a method of application of the Fibonacci levels to the particular market conditions. This book will be more interesting to the investors or the long-term Forex traders as the indicator is best applied to the position trading rather than the intraday trading. Some knowledge of the technical analysis and the basic indicators is required to properly understand this book. But the method that is given here is explained very well. Knowing Fibonacci levels is a plus, but those are explained in this book too.

The Taylor Trading Technique — a really old book about trading. It was written in 1950 and presents its technique examples mostly on the grain trading, which was quite popular those days among small traders (mini traders now). Although it might seem very outdated — both in terms of the strategies and methods and in terms of language it is written in, this book can be an interesting read for those who are interested in history of trading and how some types of modern trading techniques evolved from archaic forms described in Taylor’s book. George Douglas Taylor was a professional trader and also an apologetic supporter of the trading theory, which according to him was as important as the practical skills. This book describes the 3-day method (it’s mentioned as the Book Method). This method presumes that the financial markets move in three-day cycles (similar to the modern Elliot Waves). Those cycles are recognized by the patterns of up- and down-trends. Some of the modern traders still use the techniques described in The Taylor Trading Technique.

Surefire Trading Plans — it’s a popular Forex book that teaches the basics of the professional Forex trading. It won’t show you the basics of the trading; you won’t find a glossary or the some common EMA strategy in this book. It’s intended to for those who have already tried trading and know something about Forex. Surefire Trading Plans is about knowledge of how to build your own Forex trading plan, the most important parts of Forex trading and the real-life examples of the successful trading plans. The whole dedication to the plans in trading is not random. According to Mark McRae (and I agree with him on this issue) the success of the Forex trader is in a great extent dependent on the money management. And there can’t be any good money management with a plan, at least in the financial trading. This Forex book will help both with money management and with the real strategies that can be used with your own plan for trading.

Mechanical Trading Systems — a real marvel in the collection of trading books, it can reveal the already working trading strategies and the working methods of creating such strategies. If you think that the mechanical trading (the one that is based solely on the technical analysis) can be profitable on Forex, this book will show you the most simple and the most sophisticated methods that can be applied to develop your own mechanical trading system. The author of this book acknowledges that the strategy or the system alone is not enough, but he applies a lot of passion to teach the readers of this part of trader’s success. If your read this book, you’ll be able to distinguish a bad trading strategy from the good one; you will learn how to back-test and forward-test mechanical systems; you will find out why some systems fail before they are even created and why others are doomed to earn money.

Trading for a Living is a first financial trading book of the prominent trading writer and teacher Alexander Elder. It shows the most common mistakes that traders fail to recognize and correct in their styles and that prevent them from become financially independent. Trading for a Living shows all the benefits of being a trader — the freedom, the excitement, the quality of life. Becoming a financial trader isn’t something hard to do, it’s just hard to hold down your emotions and begin to think of trading as a serious long-term activity. According to Alexander Elder the majority of the beginning traders fail to control their emotions, they go for the short-term success losing in the long-term period; that makes them lose money, time and a faith in a better financial future. No previous trading experience or knowledge is required to read and understand this book.