Trading Books Listing and Description

If you’re seeking more resources to enhance your forex trading knowledge, you’ve found the right spot! Below, we present a selection of essential forex trading books that we believe are invaluable. We’ve read them and recommend you do too. Explore them now!

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by Alexandar Elder

Dr. Alexander Elder returns to delve deeper than the three M’s (Mind, Method, and Money) from his bestselling book, Trading for a Living. He shifts the focus from technical analysis to the comprehensive management of a trader’s money, time, and strategy. Dr. Elder guides readers from the basics to the secrets of successful trading, revealing new, lesser-known indicators that can yield significant profits.

Come Into My Trading Room educates beginners and strengthens professionals with expert advice and proven trading strategies. This all-encompassing guide introduces the essentials of successful trading, offers a fresh perspective on the three M’s, including a tested, step-by-step money management strategy, and provides an in-depth examination of organizing your trading time. The book covers trading fundamentals and essential psychological tactics for discipline and organization, aiming to transform anyone into a proficient and successful trader.

by Alexandar Elder

Trading for a Living is centered around the three M’s: Mind, Method, and Money. This book helps you master all three areas:

• How to become a composed and collected trader
• How to profit from understanding market crowd behavior
• How to utilize a computer to identify good trades
• How to create a robust trading system
• How to identify trades with the highest chances of success
• How to determine entry and exit points, set stops, and take profits

Trading for a Living disciplines your Mind, teaches you the Methods for trading the markets, and instructs you on managing Money in your trading accounts to ensure that no series of losses can eliminate you from the game.

by Mark Douglas

The primary reason I appreciate The Disciplined Trader is that Mark Douglas lacks formal training in psychology. Instead, Douglas was educated in the only classroom that truly matters—the battlefield of actual trading. Despite being published in 1990, and with numerous trading psychology books released since, Douglas’ work remains a groundbreaking classic. He utilizes his unique ability to identify the mental shortcomings of losing traders and articulates fresh insights on what traders need to achieve genuine success.

Douglas begins the book from a relatable perspective—crushing defeat. By humbling himself to the market's higher power and analyzing the formula for failure, he demonstrates how he reverse-engineered it to discover the formula for success that many readers have found beneficial in overcoming their psychological challenges.

Central to Douglas’ argument is the notion that the character traits that lead to success in most life endeavors differ significantly from those required for trading success. To excel in business or a professional career, one must develop skills to control their environment. Building a business empire necessitates being a great leader. To become a heart surgeon, one must master the scalpel. To be a good parent, one must know how to discipline children.

by Mark Douglas

Maximizing a trader’s mindset is crucial for achieving successful outcomes. Conflicts, contradictions, and paradoxes in thinking can lead to disaster for even the most motivated, astute, and grounded traders. Mark Douglas, a trader, personal trading coach, and industry consultant since 1982, emphasizes that “thinking strategy” significantly impacts a trader’s success rate. Douglas addresses five specific issues to provide traders with insights and self-understanding that will help them become consistent market winners.

Trading In The Zone offers concrete solutions to the “people factor” affecting commodity price movements. It reveals the true reason behind inconsistency in stock picking: a lack of focus and self-confidence. Through simple exercises, traders will learn to think in probabilities and adopt the beliefs necessary to cultivate a winning mindset. Along the way, they’ll gain valuable insights into their own entrenched misconceptions about the market.

Supported by compelling examples, Trading In The Zone adds a new dimension to gaining an edge in the market. By better understanding themselves and the realities of Wall Street, traders will harness the power of their psyche for unprecedented profitability.

by Steve Nison

Japanese Candlestick Charting Techniques, 2nd Edition, offers a comprehensive explanation of candlestick plotting and analysis, presenting the author’s years of practical experience in this increasingly popular and dynamic market analysis approach in an accessible manner. It includes hundreds of examples across equity, futures, fixed-income, and foreign exchange markets, demonstrating how candlestick charting techniques can be applied in nearly any market.

The book covers everything from the basics, such as constructing candlesticks and recognizing patterns, to advanced topics like the rules of multiple technical techniques. Whether you are new to candlestick charts or an experienced trader, the benefits will be immediate and enduring.

by Van K. Tharp

This excellent book provides readers with a realistic perspective on the market and trading. It highlights key factors that contribute to success while also pointing out common traps that many fall into and explaining why these occur.

This book emphasizes four main points: (1) Be Open-Minded (2) Focus on Exit Strategies (3) Positive Expectancy (4) Create your own system by studying others’ systems.

Be OPEN-MINDED: The book illustrates why many investors are too narrow-minded and overly attached to a single trading system. It stresses the importance of understanding oneself and one’s habits before developing a personal system.

Exit Strategies: The book explains why Exit Strategies often hold more significance than Entry Strategies, discussing how many systems focus too heavily on entering the market while neglecting exit strategies, and why this contrarian approach is vital.

Positive Expectancy: It teaches how to create a system for tracking trades so that (1) you’ll know your batting average and (2) you won’t become discouraged like others when a trade doesn’t go your way.

Create your own System: It presents various other traders’ systems to help you select the right trading tools for yourself.

This book is not a get-rich-quick scheme; rather, it focuses on developing a proper trading mentality, which the author views as a crucial element for most successful traders. It encourages critical thinking and diligent research.

by Edwin Lefevre

Reminiscences of a Stock Operator is a thinly veiled biography of Jesse Livermore, a remarkable figure who began speculating in New England bucket shops at the turn of the century. Livermore, banned from these dubious operations due to his winning streak, soon transitioned to Wall Street, where he made and lost his fortune multiple times. The book’s value lies in Lefèvre’s observations about investing, speculating, and the market's nature. For instance:

“It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I’ve known many men who were right at exactly the right time and began buying or selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine—that is, they made no real money out of it. Men who can both be right and sit tight are uncommon.”

by Jack D. Schwager

A bestselling classic that explores the minds of some of the world’s most successful traders. This book examines a rarely discussed aspect of trading: the human side. It features some of the greatest traders and investors candidly answering questions about their upbringing, how they got into trading, how they honed their skills, their trading experiences, philosophies, styles, and the considerations that influence their daily trade selections. A diverse range of personalities and trading methods are represented; whether you scalp e-minis on Globex or trade stocks leisurely on the NYSE, you will find valuable insights. This book is particularly beneficial for anyone aspiring to trading success but lacking a mentor.

by Jack D. Schwager

Some traders stand out from the crowd. What distinguishes these exceptional winners, whose success spans various financial markets? What sets them apart from others? What can they teach the average trader or investor? In The New Market Wizards, these highly successful traders—some relatively unknown—share the financial strategies that propelled them to success. Jack D. Schwager poses questions that readers interested in the financial markets would love to ask these financial superstars, prompting them to share their insights.

The New Market Wizards presents another collection of engaging interviews that illuminate different perspectives on how to outperform the markets. With a multitude of trading methods featured in this book, you are sure to find something that aligns with your personal style. Just like the first book, you will enjoy reading these interviews, which are filled with tips and ideas to enhance your market knowledge.

by John L. Person

A comprehensive trading guide from a professional trader, The Complete Guide to Technical Trading Tactics helps new individual investors grasp the mechanics of the markets. Packed with in-depth insights and practical advice, this book outlines what it takes to trade successfully and shows readers how they can expand their horizons by investing in futures and options markets. The Complete Guide to Technical Trading Tactics details various proven methodologies—pivot points, candlesticks, and other top indicators—enabling readers to choose the ones that work best for them and make informed trading decisions confidently. Author John Person also shares insights on various trading technologies that will help readers gain a competitive edge in the market.