Best Forex Trading Books

Best Forex Trading Books


Best currency trading books on Amazon.com. 2014 highest rated, top recommended best sellers Forex trading books to read for beginner to advanced traders.




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Best Forex trading book

Written by Wayne McDonell, the Chief Currency Coach at FX Bootcamp, this book shows readers how to successfully trade the Forex market on their own. FX Bootcamp's Guide to Strategic and Tactical Forex Trading skillfully explains how to combine popular technical indicators to formulate a comprehensive market strategy. Readers will then learn how to focus on using this information to create a tactical trading plan--one that will help them pull the trigger to get in and out of a trade. Along the way, McDonell takes the time to discuss the various challenges a Forex trader faces, such as greed, fear, loss, and isolation. As a Forex trader and educator of traders, Wayne McDonell knows what it takes to make it in the competitive world of Forex. And with FX Bootcamp's Guide to Strategic and Tactical Forex Trading he shows readers how. Review

Wayne really hits the mark with this book. It's a basic summary of the method he teaches at www.fxbootcamp.com. Not only does he cover the technical and fundamental aspects that a successful Forex trader needs to know, but he covers the other all important topics too, like risk analysis, trade plans & journals, trade reviews and having the right mindset to be a successful trader. All with no Fluff!

I found Wayne's book really helped me trade according to MY rules, not the markets rules. This meant that when I trade, it's become a lot of fun again. Now I am trading in one night, profit wise, what I used to trade in one month.

If you want to get a clear sense of what is in this book, have a look at his videos on FXStreet.com blogs called "2 Hour Video: Strategic & Tactical FOREX Trading". blogs.fxstreet.com/fxbootcamp/2008/03/12/2-hour-video-strategic-tactical-forex-trading

I recommend this book to anyone who feels there is room to improve in their Forex trading, or is looking for a reliable, simple system to follow. The method outline in Wayne's book won't give you every pip in a market's movements, but it will provide you with a large portion of them, in a conservative manner.

I also recommend this book to new FX Bootcampers, as it will help them come up to speed quickly, with the method Wayne teachers at FX Bootcamp.

In response to Jeff Marsick's review (RE - Good But Poorly Edited), I agree that this book could have done with more editting. In regards to Wayne's MACD settings of 21, 55, 8, this is in fact correct. One of the things with Wayne's method is that he uses a slowed down MACD oscillator to guage MARKET speed (medium term price action) and a sped up Stochastics oscillator to measure PRICE momentum (short term price action). This is covered in the above mentioned webinar video at around 18 minutes into it.




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Best Currency trading book

Your plain-English guide to currency trading

Forex markets can be one of the fastest and most volatile financial markets to trade. Money can be lost or made in a matter of seconds, and forex markets are always moving. So how do you keep up? This hands-on, friendly guide shows you how the forex market really works, what moves it, and how you can actively trade in it — without losing your head! -

All the world's a stage — get an easy-to-follow introduction to the global forex market and understand its size, scope, and players -

Show me the money — take a look at the major fundamental and economic drivers that influence currency values and get the know-how to interpret data and events like a pro -

Prepare for battle — discover different types of trading styles and make a concrete strategy and game plan before you act on anything -

Pull the trigger — establish a position in the market, manage the trade while it's open, and close out on the most advantageous terms -

Review

This book provides some really good advice about trading the forex market. Which currencies have what tendencies, which times and reports to look out for, how to manage trades and money, etc. It provides the basics for any beginner. But, if you are a beginner, you will NOT notice something EXTREMELY important that the authors of this book did not mention ON PURPOSE. The authors, in full disclosure, state they are associated with [...](i.e. Gain Capital). And while in the book they make it seem that since [...] is part of/is a(n) FCM/CFTC/NFA (basically throwing out terms to a beginner to make it seem safe and legit), the author's on purpose do not mention that [...]is NOT an ECN broker, and hence you'd think that with all those acronyms they'd be credible, but think otherwise. In real short, what this means is that if you are not an ECN broker, you are allowed to, and most disclose in very fine print hidden among pages of other details they know few will read, take on purpose trades opposite of yours (hedge), in order to make more profits and ensure that begineers get wiped out and even good traders don't last for the long term. There are many more terrible practices these bucketshops use like fishing for stops, spread manipulation, etc, and [...]has the "white gloves" implied in this book very much dirty. Just google it if you don't believe me. -

Just thought I'd throw this out there for any beginners. Choose your books wisely, but don't trust everything they say, and make sure you know what they failed to say and why. -

EDIT: I don't mean to pick on Gain Capital specifically. All I am saying is when you do go to choose ANY forex broker, keep my information in mind since it wasn't outlined in the book. -

Edit#2: Just in case, another point that wasn't mentioned: rememmber that if your broker is not FDIC insured, and they go under, all your money with them will almost certainly never be seen again (don't fall for their sales/marketing ploys of "we're the biggest ones" or we have a safe and positive balance sheet; if you never heard of Enron, GM, WAMU, then you'd need to read a bit about them). The only FDIC insured FX broker I know of is CITIFxPro, which, if you read in fine print, is managed by Saxo Bank, not CitiBank. -




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Best Currency trading book

The guide for reading long-term trends in the foreign currency market

To thrive in the marketplace traders must anticipate, enter, and stay with trends in the foreign exchange market.

In this much-needed guide top forex, expert Greg Michalowski clearly explains the attributes of successful traders, and shows how traders can set themselves up for success by drafting an explicit mission statement and game plan. The book also contains the tools and techniques traders need to read the markets and identify when a market is in a trend. Michalowski shows traders how to enter an emerging trend, how to manage the position, and how to exit the position most effectively.

Includes the technical tools needed to invest in the foreign exchange market: moving averages, trendlines, and Fibonacci levels
Shows how to identify a trend and stick with the trend through its duration
Written by Greg Michalowski who was cited by SmartMoney magazine as a "go to" source for making money moves


With this book, Michalowski offers an important resource for identifying and riding out long-term trends in the volatile foreign currency.

Review

Get Greg Michalowski's book if you want to Trade Forex seriously. It's a complete trading education from Mission Statement to Trading Strategy all in one book.

He emphasizes trading as a 'business' as it should be and starts from the Mission Statement "Make the most amount of money with the least amount of risk".

He explains the attributes of good and bad traders and why most traders lose money. He knows why because he's a market broker! Every trader has fear and he explains how to control it. How to risk a little to make more. Know your risk by trading borderlines. He lays out the game plan, rules, and trading tools.

After he builds the 'foundation', the strategy to execute and exit trades is explained clearly. Greg says trading trends is the way to make the most money and he shows you how to anticipate, get on, and follow the trends. Greg shows you how to 'Keep It Simple for Success'- with proven market trading techniques and his 'unambiguous' trading tool set to be bullish or bearish. Time proven tools the market uses to make those borderline trade decisions, so you can get on the correct side of the trend, stay on it for maximum gains while controlling your fear.

I've purchased many books, looked at hundreds of trading plans, and spent a lot of time trying to learn to trade. This is the book and system for me. Do yourself a favor. If you want to trade Forex buy this book. I wish I did at the start! If you want to see Greg in action, go to FXDD and view his trading webinars and watch his many daily Forex news broadcasts.

This article was updated on 4/11/2014.


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