A forex book is the first step in many forex trading journeys. Whether you want an audiobook for beginners or a strategy ebook for advanced trading, we’ve rounded up the top 5 forex trading books that will help every trader.
Forex trading can seem like a huge challenge at first. There are different terms, ideas, and strategies that can make you feel like learning a foreign language. Even the most successful forex traders have had to start somewhere, and a good place to start is the forex book. Forex manuals written by experienced traders who can explain everything in layman’s terms can help guide you through the basics of forex trading.
However, the forex trading guide market is crowded. So, to help you out, we’ve put together a brief guide to the 5 best books on forex trading.
Top 5 Forex Books of 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 author. She has written numerous books on forex trading, stock market trading and bulk price analysis based on her 20 years of trading experience.
Coulling describes Forex for Beginners as a “primer” in the forex trading world. It is also a prequel to two of her more advanced works. A three-dimensional guide to Forex trading and a complete guide to volume price analysis.
Forex for Beginners focuses on the concept of risk in forex trading. Coulling categorizes this concept into two areas: risk level (high, medium, or low) and financial risk.
Forex for Beginners can help new traders learn risk assessment and management, from absolute basics to the author’s own trading methods.
Jim Brown – Forex Trading: Simple Basics Explained in Terminology (2015, CreateSpace Independent Publishing Platform)
Availability: Paperback and Kindle Length: 73 pages
Jim Brown is an Australian forex trader with many years of experience and has written books for both beginners and advanced forex traders.
Forex Trading: The length of the basics explained is unclear. You don’t have to read it until all the terms seem overwhelming. Chapters include:
- What is Forex?
- Advantages of Forex Trading
- When the Forex market is open
- Forex pairs
- Where to trade Forex
- Select a broker
- Important information for US-based traders
- Lot size and equivalent pip value
- Information about risks
- News and Fundamental Analysis
- Technical Analysis
- Risk Reward Ratio
- Order type
- How many pips is enough
- Trading Psychology
- Day trade or long trade?
- Keep a journal or diary
Another bonus to the book is the inclusion of a copy of Brown’s own trading system and a video instruction on how to use it.
For experienced forex traders, Brown has also written an esteemed book on the MT4 and MT5 trading platforms.
Kathleen Brooks & Brian Dolan – Currency Trading for Beginners (3rd Edition) (John Wiley & Sons, 2015)
Availability: Paperback and Kindle Length: 384 pages
Currency Trading for Beginners is the best forex guide on Amazon. Our comprehensive guide for forex trading beginners is now in its third edition and is highly recommended on its own.
The familiar yellow and black cover of the For Dummies book series provides an aura of trust as this book instantly takes you to the basics of the forex market. We explain the latest SEC rules and tax laws, discuss risk management, and think about the pros and cons of Forex trading.
Originally published in 2007, the 2015 update was co-authored by Brian Dolan, an author and media reviewer with over 20 years of trading experience, and Kathleen Brooks, research director for a major forex website.
Jelle Peters – Forex for Ambitious Beginners: Successful A Guide to Currency Trading (Odyssea Publishing, 2012)
Availability: Paperback and Kindle Length: 218 pages
Lawyer and historian Jelle Peters also runs a forex website, writes regular articles on forex trading and authored this popular forex guide.
Ambitious Beginners forex prides itself on showing you how to avoid common mistakes when starting forex trading without selling you “illusions” about how easy forex trading is.
Peters also includes lessons on specific forex trading strategies, technical indicators, and other advanced instructions such as how to read candlestick charts. At the end of the book there is a quiz to help you understand the forex lessons learned.
Paul Langer – The Black Book of Forex Trading: A Proven Way to Become a Profitable Trader in 4 Months and With It Reach Financial Freedom ( CreateSpace Independent Publishing Platform, 2015)
Availability: Paperback and Kindle Length: 83 pages
Paul Langer offers a different perspective on forex trading. While the books we have seen above are forex guides for beginners, The Black Book of Forex Trading is aimed at forex traders who already have experience.
Although brief, this book is backed by Langer’s experience in forex trading and paying thousands for training courses and systems. He uses all he has learned to present three forex strategies that will help you make money “consistently” in forex trading.
A strong seller with positive reviews, The Black Book of Forex Trading helps the author avoid mistakes on his forex trading journey and make money from his trades in 4 months or less.
Forex eBooks for beginners
While not enough to help professional traders, FTSE Broker ETX Capital also offers a small library of e-books on forex that can guide beginners in the basics of trading listed here.
