Forex books are the first step for many people in the forex trading journey. Whether you want an audiobook for beginners, or a strategic e-book for advanced trading, we’ve shortlisted the top five foreign trading books that will benefit all traders.
Forex trading can seem like a big challenge at first; there are so many different terms, ideas and strategies that it feels like learning a foreign language. Even the most successful forex traders had to start somewhere and a good place to start is forex books. A forex manual written by an experienced trader, who can also explain everything in layman’s terms, can help guide you through the basics of forex trading.
However, the market for foreign exchange guides is crowded. To help you out, we’ve put together a short guide to the five best books on forex.
Top 5 Forex Books 2020
Anna Coulling – Forex for Beginners: What You Need to Know to Get Started and Everything in Between (Marinablu International, 2013)
Availability: Paperback and Kindle Length: 260 pages
Anna Coulling is a full-time trader and writer. She has written numerous books on forex, stock market and volume price analysis, all drawing on her twenty years of trading experience.
Coulling describes Forex for Beginners as a ‘primer’ to the world of forex. It is also a prequel to two of her more advanced works, A Three-Dimensional Guide to Forex Trading and A Complete Guide to Stock Price Analysis.
Forex For Beginners focuses on the concept of risk in forex trading. By cutting the concept together, this concept is divided into two areas: the risk level (high, medium or low) and the financial risk.
Starting from the absolute basics and following the author’s own trading methods, Forex for Beginners can help new traders assess and manage risks.
Jim Brown – Forex Trading: The Basics Explained in Simple Terms
Availability: Paperback and Kindle Length: 73 pages
Jim Brown is an Australian forex trader with many years of experience. Brown has written books for both beginners and advanced forex traders.
What Forex Trading: the basic outline lacks in length it makes up for in clarity. If all the terms seem overwhelming, they should be by the time you’ve read them. Chapters include:
- What is Forex?
- Benefits of Forex Trading
- When the Forex market is open
- Forex pairs
- Where we trade Forex
- Choosing a broker
- Important information for US merchants
- Lot size and equivalent pipe value
- Information about risk
- News and fundamental analysis
- Technical analysis
- Risk-reward ratio
- Types of orders
- How many seeds are enough
- Business Psychology
- Day trading or long term trading?
- Keep a diary or journal
A further bonus to this book is that it includes a copy of Brown’s proprietary trading system and video instructions on how to use it.
For more experienced forex traders, Brown has also written respected books on MT4 and MT5 trading platforms.
Kathleen Brooks & Brian Dolan – Forex Trading for Beginners (3rd Edition)
Availability: Paperback and Kindle Length: 384 pages
Forex Trading For Beginners is the largest forex guide on Amazon. It is now also in its third edition, which is recommendation enough in itself, a comprehensive beginner’s guide to foreign exchange.
The familiar yellow and black cover of the For Dummies book series immediately lends this book an air of reliability as it takes the reader through the basics of the forex market. It explains the latest SEC rules and tax laws, discusses risk management and thinks about the pros and cons of forex trading.
First published in 2007, the 2015 update was co-authored by Brian Dolan, an author and media commentator with more than two decades of trading experience, and Kathleen Brooks, a research director for a major forex website. .
Jelle Peters – Forex for Ambitious Beginners: A Guide to Successful Currency Trading
Availability: Paperback and Kindle Length: 218 pages
A legal philosopher and historian, Jelle Peters also runs a forex website, writes regular articles on forex trading and is the author of this popular forex guide.
Forex for Ambitious Beginners prides itself on not selling a ‘fantasy’ about how easy forex trading is, but showing how to avoid common mistakes when starting forex trading.
Peters also includes lessons on specific forex trading strategies, technical indicators and other more advanced instructions such as reading candlestick charts. At the end of the book there is the bonus of a quiz to ensure you understand the forex lessons you have learned.
Paul Langer – The Black Book of Forex Trading: A Proven Method To Become A Profitable Trader In Four Months And Achieve Your Financial Freedom By Doing It
Availability: Paperback and Kindle Length: 83 pages
Paul Langer offers a different perspective on forex trading. While the books we looked at above are forex guides for beginners, the Black Book of Forex Trading is aimed at forex traders who already have some experience.
Although short, this book distills Langer’s own experience in forex trading and thousands for courses and systems. He uses everything he’s learned to present you with three forex strategies that he says will help you “consistently” make money from forex trading.
The Black Book of Forex Trading is a strong seller with positive reviews that aims to help you overcome the mistakes the author made on his forex journey and make money on your own within four months can earn
Forex eBooks for Beginners
Although not sufficient to help professional traders, FTSE listed broker ETX Capital does offer a small library of e-books on Forex that can guide beginners in the basics of trading.