Recommended Reading
I am often asked: "What trading books would you recommend reading?" This post is dedicated precisely to a selection of literature for the Forex trader.
There is a huge number of books on trading in Forex and the stock market. I will let you in on a secret: most of what stands on the shelves of second-hand bookshops was written by talentless theorists who themselves have never traded.
There are not so many worthwhile works, below you can download good books on Forex:
Alexander Elder "How to Play and Win on the Exchange"
What the book is about
This book reveals a range of mechanisms and tools for effective activity on the exchange. Thanks to them, one can avoid losing money during unlucky periods and significantly increase funds during winning periods. In addition to mastering effective methods of studying the market and market strategies, you will study something that is not in textbooks: the psychology of effective trading.
Why the book is worth reading
- It has been republished many times, translated into 12 languages of the world, and is considered the most sought-after book in the history of the exchange.
- It is oriented toward the practical experience of a person who made many mistakes over all the years of his activity before coming to success. And now he shares with you how all of this can be prevented.
- This is a basic reference point in the sphere of speculation on the exchange, one that is an authority among professionals. Despite the fact that the book is not like what is sold in bookstores.
Who this book is for
For private investors striving for stable income through correct tactical activity, as well as for professional traders.
Edwin Lefevre "Reminiscences of a Stock Operator"
The first book, Reminiscences of a Stock Operator, was published in 1923 and to this day remains one of the most sought-after books on financial topics. This book is a biography of Jesse Livermore, who is considered one of the best speculators in history. This book has effectively influenced the minds of a huge number of investors. And to this day it has not lost its relevance and popularity in exchange literature. It tells us about fluctuations in market demand, as well as the psychology of the buyer, as if it were describing some event that happened recently in the financial market. Therefore, there is no doubt whatsoever that people will remain interested in it and study it even in the 21st century.
Jack Schwager "Market Wizards"
Jack Schwager is a popular financier whose works include such titles as "Stock Market Wizards," "Technical Analysis. The Complete Course," and others.
In his book "The New Market Wizards," he interviews the most famous traders in the world who have achieved success in the financial markets. Thanks to this book, you will be able to find new ideas and trading methods for yourself that were used by the famous "market wizards." You will be especially surprised by the full diversity of the ways and methods they use. Some of them base their activity on fundamental analysis, taking no interest in stock price fluctuations, while some use exclusively technical trading systems, others focus their attention on the problems of price formation, and still others seek an arbitrage profit option in the real efficient market.
This book differs from other similar ones in that all the information is presented in accessible language and is very easy to read, thanks to which it is useful both for experienced traders and for newcomers to the financial market, or simply ordinary people.
Michael Covel "The Complete TurtleTrader"
In this book, Michael Covel introduces readers to previously unpublished details of the famous experiment organized by the legendary Chicago trader Richard Dennis, who, having begun his career in 1966 at the age of seventeen, rather quickly mastered the intricacies of exchange trading and by 1983 had earned $200 million.
Having once argued with his colleague William Eckhardt over whether it was possible to teach trading to a "man off the street" or whether innate abilities were required for that, he placed an advertisement in the newspaper inviting everyone interested to two-week courses. Several thousand people applied, but only twenty-three were accepted. They became the legendary "turtles," who earned $100 million for Dennis. Some of the participants in the experiment continued trading after it ended, becoming incredibly successful traders, while some vanished into obscurity. Michael Covel traced the fate of most of them. He learned what and how they were taught, including the rules for entering and exiting the market and the personal advice of Dennis and Eckhardt, and told about it in the book, the most complete and detailed one on the history of the "turtles."
The author not only reports the details of this unprecedented experiment, but also analyzes them, draws conclusions about why some "turtle traders" turned out more successful than others. This makes the book interesting for those who are themselves ready to experiment and try their hand at exchange trading.
Michael Covel "Trend Following"
To swim with the trend's current, it is not enough just to relax.
Michael Covel's book provides a set of tools absolutely necessary for identifying a trend, following it confidently in its rapid flow, and exiting in time before the current carries you straight to the waterfall that is deadly for the profit you have accumulated.
Each of the tools presented in this book contains a full and detailed description of its practical application in the market, which will be understandable to beginners and useful to professional traders.
Kathy Lien, Boris Schlossberg "Millionaire Traders"
What the book is about
The book tells us how people go from ordinary traders to successful players earning huge money. The authors reduced their own thoughts to a minimum, placing the main emphasis on the stories of the most famous and richest traders in America. The mastery of Lien and Schlossberg was expressed in the conclusions presented at each chapter of the book.
Why the book is worth reading
- Interviews are perceived by readers better and more easily.
- The book presents examples of real people from life who started their work in trading from scratch.
- No recommendations or instructions for action are given, there is only real experience and practice.
- The heroes of the book talk about the currency, stock, futures, and options markets.
- The heroes of the book are representatives of a wide variety of nationalities, which clearly reflects the individual traits of each of them.
Who this book is for
The book is aimed at professional traders and all those who follow the news of the financial market.
Gregory Morris "Japanese Candlesticks. A Time-Tested Method of Analyzing Stocks and Futures"
What the book is about
The book tells us about one of the most widespread and sought-after methods of market analysis and forecasting, which is called "Japanese candlesticks." Morris, a professional in the field of technical analysis, explains in detail how candlestick charts can be used to search for and evaluate a chart pattern. As a result of integrating candlestick pattern recognition and technical indicators, the author developed a new rational approach to trading.
Why the book is worth reading
- It concentrates practical and rare mechanisms for increasing the indicators of trading activity.
- It explains in detail how to combine Japanese candlesticks with other mechanisms to search for new profitable projects.
- It can be used as a practical recommendation for implementing the Japanese candlestick method and as a guide to candlestick patterns.
Who this book is for
It is perfectly suitable both for newcomers in the field of trading and for investors working in the market for stocks, bonds, and futures.
Mark Douglas "Trading in the Zone"
The book reveals a broad view of all the difficulties that arise for a person who has encountered the financial markets. When the realization comes that a trade does not get by with consultation and brokers' advice, and that buying or selling is a very complex operation giving unexpected results. The book brings us to a reasoned psychological approach that helps achieve steadily favorable results from trading transactions. The author does not give a ready-made trading model; his goal lies in something entirely different. He strives to explain how one should reason and think in order to become an effective trader.
Steve Nison "Beyond Japanese Candlesticks"
In 1990, Steve Nison presented Western traders with a powerful mechanism by means of which Japanese traders had enjoyed competitive advantages for many years. At present, after the publication of this book, which reveals the entire range of the most powerful Japanese mechanisms, Nison opened a new level in the improvement of technical analysis.
In his book he acquainted us with all the intricacies of using the 4 most significant mechanisms, which the Japanese kept a great secret from everyone. These include: "kagi" charts, "renko" charts, three-line break charts, and the difference index, representing an amazing multitude of various tools for accounting for and forecasting price fluctuations and profitable trading conditions.
John Murphy "The Visual Investor. How to Spot Trends"
A book about visual investing and various methods of chart analysis. Murphy explains how to understand the charts on the basis of which investors make decisions, how to determine the course of market development through visual comparison of charts without using cumbersome formulas and mechanisms. The book clearly reveals that visual analysis of the financial market is better carried out individually and that this will not present any particular difficulty. In practice, it turns out that only identifying which markets are thriving and which are not is necessary. Visual analysis is the best method for this.
Why the book is worth reading
- the author is one of the most successful and popular professionals in the world engaged in market analysis.
- the second edition has been improved, proceeding from the modern situation on the market.
- The book is presented in accessible language, thanks to which the text is clear not only to specialists, but also to ordinary people.
Who this book is for
It is aimed at specialists in the field of investment and trading and at all those who study the financial markets.
Brett Steenbarger "The Daily Trading Coach. Psychology, Technique, Tactics and Strategy"
The book is entirely devoted to trading. In it you will find answers to which trading option suits you specifically, how you can improve your mechanisms and tools, make your strategy more effective, as well as what a beginner needs to be able to do, and much more. Professor Steenbarger considers trading as a science and pushes us toward the search for patterns.
Why the book deserves reading
- Several generations of professional traders have already grown on the basis of the author's teachings and theories.
- Special emphasis is placed on the psychology of trading.
- This book will become an excellent manual for development in any field.
Who this book is for
For those who strive to achieve high performance in their activity.
Courtney Smith "How to Make a Living Trading Foreign Exchange"
The book reflects almost 25 years of the author's experience in trading. It includes everything connected with trading, but the main question is centered on how to make work on the Forex exchange bring a constant income.
Why the book is worth reading
- The book tells us how to make big money having only Internet access. This book is your guide in the Forex market; it reflects all the terms and systems that will be useful to you, as well as the latest trading methods.
- You can learn how the great George Lane achieved success.
- Concrete methods are given that guarantee profit in short- and long-term periods.
- Important significance is given to the psychology of traders.
Who this book is for
It will prove useful both for beginners and professional traders.
Edwin Lefevre "Wall Street Stories"
For traders and readers familiar with the work of Edwin Lefevre from the author's description of Jesse Livermore's life path, there is no need to introduce the value of "Wall Street Stories." The book consists of 8 novellas, each of which tells about real events experienced by the author on the exchange.
The talented writer combined the work of a journalist and a trader, which allowed him to study trading and describe in detail the mechanism of speculation and investment through vivid examples of the actions of major dealers and minor players. Each story is instructive; the author emphasizes mistakes, miscalculations, and emotions, notes character traits and algorithms that help on the path to financial success.
Jack Schwager "Unknown Market Wizards"
Jack D. Schwager is a recognized industry expert on futures and hedge funds, as well as the author of the cult series "Market Wizards." In his new book, he interviewed many legendary traders, analysts, market makers, and fund managers.
In the book you will find useful information that will help beginning traders find their strategy in the market, and for professionals it will open up new methods and tactics developed by Schwager's interviewees; behind the impressive results of many of them stands painful experience and major failures.
The translation of this book was carried out on our forum; the translator, several editors, and I spent many months editing the book, which was subsequently published by the Alpina publishing house.
Steve Ward "The Bulletproof Trader"
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One of the best books on the psychology of trading, with concrete exercises and numerous observations by the author of traders, supported by scientific research in the field of psychology.
Translated through the efforts of our forum members.
P.S. These books will give you the most important thing: an understanding of the overall picture. Since the information in these volumes is very valuable, the best option is to read 1 chapter a day so that the information is well absorbed, sinks into your mind. Do not hurry, the market will not run away from you.
Respectfully, Pavel Vlasov
Tlap.io
A selection of the best books on trading on the stock exchange and Forex. Download Forex books.