Forex Book

The New Sell and Sell Short: How To Take Profits, Cut Losses, and Benefit From Price Declines is a 2nd edition of his not very popular trading book titled Sell and Sell Short. This one is timely piece of trading education that can be of a great help during current times of recession and bearish markets out there. If you’ve read some of the best-selling books by Alexander Elder (which I strongly recommend doing): Entries and Exits, Trading for a Living, Come into My Trading Room, you should already know that Dr. Elder knows what he’s talking about and knows how to tell it to the traders, so that they would learn something really useful and helpful. This book unites his emotional and psychological studies with the most sophisticated trading methods to create a strategy to trade by selling and selling short. Of course, not everything here can be applied successfully to Forex market, but it still contains many lucrative lessons for all types of traders.

Attacking Currency Trends: How to Anticipate and Trade Big Moves in the Forex Market is the first trading book by the expert trader Greg Michalowski. While there are tons of Forex books about short-term trading, swing trading and scalping, this guy aims something bigger — Greg talks about capturing profit from the long-term trades — big fish of the Forex market. To get to the point where it’s possible, the author offers quite a simple but yet powerful trading system. The first part of the book is dedicated to some general introductions and recommendations regarding how to trade Forex. The second part is about some exact technical methods proposed by Michalowski and his own instructions for trade execution. This book may be useful to traders that are still looking a strategy that would fit their personality.

Diary of a Professional Commodity Trader: Lessons from 21 Weeks of Real Trading is general master-plan for a successful Forex trading system. Peter Brandt is an experienced trader and an author of several trading and psychology-related books. In this work, he makes emphasis on the commodity and currency trading (despite what the title would suggest, commodities here also include some of the Forex currency pairs). The book is divided into four chapters. The first one is an introduction to the author’s principles and ideas. Unlike many other books on Forex, it doesn’t make an introduction into the market itself. The second part is dedicated to the actual characteristics of the successful trading plan for commodity markets with a lot of chart pattern examples and various how-to‘s. The third part is the actual five months of trading applying the principles laid out earlier in the book. The final part, the fourth one, offers a wrap-up of the whole book, summing up the example conclusions and offering some ideas for the assessment of a trading system performance.

Position Trading (BUY like and Trader and HOLD like an Investor) by Tony Loton is a try to present the the usual “buy and hold” strategy under a slightly different angle. It’s often said that a long-term position is a badly taken short-term position, but Tony tries to turn it upside down by stating that good short-term positions turn into even better long-term positions. This book is not about Forex, as the offered strategy can be barely used in currency trading, but it will work in almost any other financial market available to the online traders. The good part about this position trading book is that the author doesn’t try to push some set of entry rules as a complete strategy; instead, he offers everything that’s necessary for a trading system — from good entry conditions to the money management tricks.

John Jagerson’s Profiting With Forex (The Most Effective Tools and Techniques for Trading Currencies) is an introductory Forex book that soundly stresses the explanations of the trading system development process. John Jagerson is a commodity trading advisor with a huge experience in Forex education. Many traders that have some basic knowledge will probably be bored with he first half of this book, as there’s little new in the general description of the FX market and the related concepts. But the second half will be of help not only to the new traders, as it goes rather deeply into details of the procedures necessary to build a successful plan for a consistently profitable trading. But the greatest point about getting this book is that you’ll be able to access the restricted part of the author’s educational website for some really helpful Forex videos and podcasts.

The Ed Ponsi Forex Playbook: Strategies and Trade Set-Ups, as its name clearly suggests, is a book by a very original trading author Ed Ponsi. He’s famous for his unique style of making even the most difficult things as simple as possible, which found its way into his other book Forex Patterns and Probabilities. This book is less general and more specific — several strategies, techniques and set-ups are its topic. Ponsi uses sports game analogies to lead the readers from the very beginning of their way in Forex to being the professional traders. But it’s not only for the Forex newbies, traders of all levels of expertise will find it useful — Ed covers a lot of rare subjects here. I recommend this book to everyone who wants to learn trading Forex for consistent profits.

Robert Miner is a popular trading educator that has developed several successful systems and has used them profitably before sharing them with the public. High Probability Trading Strategies incorporates many of his approaches to the markets, including (but not limited to): Fibonacci retracements, momentum indicators, Elliott waves and multiple timeframes. But this book is great not only for its list of the author’s trading strategies, Robert also talks about the required characteristics of the trader to implement those strategies and become successful. Discipline and understanding of the money management aren’t less important than the actual entry and exit rules. He also offers some real-life examples of various financial traders, so that you could model your own trading style with their help.

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.

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.

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.

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.

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.

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.

Amazing Forex System offers a not-so-amazing Forex trading strategy based on the news announcement trading. News trading strategy, which is described in this ebook, is quite simple yet it has a huge profits potential thanks to a very nice money management tactics (the risk-to-reward ratio is usually greater than 1:4). Of course, like any other news trading strategy this one is also extremely dangerous and can easily become a target of the Forex broker’s unethical actions, whereas some brokers explicitly prohibit news trading as their trader’s technique. Nevertheless, if you were looking for a good news trading Forex strategy, seek no further, this ebook is for you.

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.

New 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.

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.

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.

VanessaFX Advanced Systems — a rather small book that describes the Forex trading system. This strategy works only with Forex market and is quite simple. The whole strategy is based on the EMA crosses (exponential moving averages). There are no explanations of the Forex basics or something else, except the exact strategy and the tips regarding its use in this book. I don’t know would pay for this strategy (yes, it’s a proprietary strategy and a paid e-book), because it’s very unsophisticated and doesn’t look very promising. Anyway, if you are up for testing some new trading strategy this Forex book will be definitely of interest to you. Although the strategy is based on the technical Forex analysis, the author recommends applying some fundamental analysis basic principles to improve your trading results.

TraderBO Divergence System — a free Forex book by the Russian trader, writer and marketer Oleg But. It shows the trading systems using the divergence as an indicator. Although this book is mainly about Forex trading, the strategy it describes can be applied on any financial market. The performance of the strategy is tested on the real market conditions and is proved to be profitable. This book presents a lot of information regarding technical analysis in trading, many related tips and techniques, while describing its main strategy, which is based on the divergence. Being a completely free Forex book, it used also to promote another author’s, this time proprietary, Forex strategy — "5 EMAs Forex System". It’s still worth the time you will spend reading it; the whole book is only 44 pages long including contents, copyrights and other such pages.

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.