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Forex Books

Here we will look at the best Forex books and while not all exclusivley focus on Forex as they cover other financial markets the logic and insight of the trading tips, applies to all financial markets and this includes Forex. For a few hundred dollars you will have my personal best Forex books of over 1,000 I have read, in my 25 years of trading. So lets look at the top ten Forex books and there in no particular order there all excellent.

1.Market Wizards & The New Market Wizards (Jack Schwager)

Schwager interviews some of the top trading legends of all time including Richard Dennis, Paul Tudor Jones, Munroe Trout, Jimmy Rogers, Ed Seykota, Marty Schwartz, Tom Baldwin,  and many others. These two books are two of the  top-selling trading books of all-time and although not everyone interviewed is a Forex trader, the trading wisdom is applicable and there is no other author who has managed to interview so many great traders and make them reveal so many tips on trading success.

2. The Zurich Axioms – Max Gunther

This is just a general book on investing but again, you will find some great tips on how to make money in Forex. It doesn't take the conventional view on how to make money but that's no bad thing as most traders lose. Insightful, well written and laugh out loud funny at times, this book will get your pulse racing and make you want to trade.

3. Dow Theory Today- Richard Russell

Markets rise and fall in definite patterns which if you learn how to spot them can lead you to long term success. A far better theory than Gann Elliot Wave or Fibonacci because unlike these theories, Dow theory is based on sound logic and works! The leading Dow Theory practitioner of today is Richard Russell who wrote this excellent book.

4. Trader Vic – Methods of a Wall Street Master (Victor Sperandeo)

Victor Sperandeo is one of those traders who piles up consistent gains year after year and here he shares his insight on everything to do with trading - from psychology, to trend following correctly, to money management. He is and still is one of the most consistent traders around and being a long term trend follower also gives some great insight into applying Dow theory for profit.

5. The Disciplined Trader Developing Winning Attitudes (Mark Douglas)

This book focuses on and makes clear, how important discipline in trading. It explain clearly why its so hard to achieve but how you can change your mindset and win. The ideas and concepts in the book are well presented but a bit repetitive suppose he was trying to ram home the point which most traders don't understand.

6. What I Learned Losing a Million Dollars – (Jim Paul Brendan Moynihan)

This books focus is on losing and as it correctly states at the start - There are many different ways to make money but only a few ways to lose it.  Part biography and part a lesson in money management – if you thought money management was just placing a stop you need this book. One of the most unique books you will ever read on trading. If you thought you couldn't learn much from a trader who lost money then read this book – it will change your view on trading forever.

7. The Way of the Turtle – (Curtis Faith)

While visiting a turtle farm in the Far East, trader Richard Dennis had a bet with his friend and trading partner  Bill Eckhardt that great traders didn't have to be born, they could be made. So they recruited a group of people from all walks of life, gave them accounts to trade, and trained them for two weeks and they were very successful and earned more than $100 million in less than four years. The most successful turtle Curtis Faith goes through the experiment in great depth offering his unique perspective on the experience and why the method is till applicable today.

8. Winner Takes All – William Gallagher

This book not only contains great wisdom on trading – its hilarious in the way it destroys so called investment gurus and such trading systems as - Gann, Fibonacci and Elliot Wave. It's not just telling you about which theories to avoid though it has great insight on money management, how to trade the fundamentals and how to achieve success with your own trading plan

9. Technical Analysis of Financial Markets – (John Murphy)

Murphy's classic on technical analysis is over 500 pages on just about everything you could ever want to know about using charts and indicators in your Forex trading strategy. This is a great reference book for any trader’s library on everything to do with trading with charts. .

10. Extraordinary Popular Delusions and Madness of Crowds – Charles Mackay

Over 100 years old and  lesson for those who think that markets can be predicted or beaten by advanced computers. If you ever get the feeling that a market simply can’t go any higher or lower  then you need  to read this book.

Final Words

The above books as a mix will give you all the knowledge and insight you need to put together a simple Forex trading strategy and trade it with discipline. The goods of course have good information but there also inspiring and if you read them all – you will know why most Forex traders fail to make money and learn how you can achieve trading success.

 
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