I get asked very often what are the books I recommend for Forex traders. The truth is, there are both good and bad Forex trading books out there. Sometimes, the best books aren't even related to trading.
To make things simpler, I decided to write an article with my recommendations as well as a small summary of each book. I recommend only books that I read or audiobooks that I listened to.
The list will definitely grow as I read daily. I have classified those books by category so you can go straight and pick the book you need.
Question: Books vs. Audiobooks?
From the moment I got my first audiobook, I became addicted. I love listening to the audio version of a book.
However, I still believe real books have their place (even more for Forex trading books) In fact, if I am looking to learn something specific and put it in action, I will definitely pick the written book. If I am looking for ideas or inspiration, I won't hesitate to go for the audiobook.
In case you are interested in trying audiobooks, you'll be able to get a free book of your choice for free by clicking on this link.
The Forex Trading Books That Incredibly Improved My Own Trading
Millionaire Traders
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Millionaire Traders is a book in which Kathy Lien & Boris Schlossberg share their interviews with successful traders. I love those types of books as they are usually a great source of inspiration.
I love the fact that the traders interviewed in that book are retail traders. Several of them are trading Forex. I recommend the audio version (I listened to it 3 times so far)! |
Market Wizards
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Market Wizards by Jack Schwager is a must and has been mentioned several times on the Desire To Trade Podcast. The book contains in-depth interviews with successful traders from around the globe.
You will definitely pick up a few lesson after going through the book. In addition, Jack's writing style is excellent! I (once again) recommend the audiobook. |
One Good Trade
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One Good Trade by Mike Bellafiore shares what his taking place behind SMB Capital, the proprietary trading firm he co-founded.
You'll get to meet traders who succeeded and some who failed. The book definitely helps you get in the trading mindset needed to succeed. I went with the audiobook and was happy about it. |
Psychology & Mindset
The Daily Trading Coach
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This book is packed with actionable lessons on trading psychology. I don't think you can go through The Daily Trading Coach without learning anything.
Examples and exercises are provided all through the book and you'll discover precisely what you need to get to the next level in trading. This is more for intermediate traders. It took me a long time to finish the audiobook and I'd recommend the paper version so you can refer back to it. |
Trading In The Zone
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If you had to choose only one book, you'd need to pick Trading In The Zone. I felt like a new trader upon finishing the reading of that book.
You'll discover the mindset every successful trader has and much more. For some reason, I couldn't finish the paper version but loved the audiobook. |
The New Psycho-Cybernetics
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This is not a trading book per say, but it has been recommended numerous times on the podcast. The author is very well known and share great concepts about self-image and developing new abilities.
I personally found it fascinating and extremely practical (there are several exercises). You should take a look! |
How To Trade
The Universal Principles Of Successful Trading
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I came across this book quite randomly while traveling and was slightly skeptical. However, this will teach you exactly – with no B.S. – what you need to get done to trade profitably.
The 3 main pillars of trading (methodology, money management, and psychology) are covered in-depth. I've also had Brent Penfold (the author) on the Desire To Trade Podcast. |
Japanese Candlesticks Charting Techniques
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This book by Steve Nison is fantastic for someone trying to understand how candlesticks work. You'll also get to see how you can use them to trade.
The book has plenty of examples and Steve makes it really easy to understand how to mix the West (technical indicators, patterns) and the East (candlesticks). |
The Little Book Of Currency Trading
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I have some attachment with The Little Book Of Currency Trading. It is one of the first Forex trading books (or audiobooks) I ever listened to while being in Hong Kong.
It is fairly short but the lessons are great. It gives a great overview of the fundamentals of trading and provides a few strategies as well. I recommend the audiobook. |
Naked Forex
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This book is almost a complete solution for traders that are tired of indicators and want to use clean charts along with price action patterns.
I loved the book and the way things are described. There's also a part of the book concerned with trading psychology and creating a plan. |
Forex Patterns & Probabilities
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This book was written by a knowledgeable professional Forex trader, Ed Ponsi. He shares the exact strategies he uses and everything is very well explained.
I learned a lot of technical details about the Forex market in that book. One thing to note, you need to practice while reading it! |
Here's My Challenge…
Alright, so now you're aware of the Forex trading books that made a difference for me. I recommend you pick one, read it, and try to implement something new in your trading.
If you want to progress, you must be open to listening to the traders who accomplished what you want to accomplish.
What book influenced your trading? Leave a comment below or post a few titles in the Facebook group!
