Tuesday, December 4, 2007

Best Forex Books to Learn How to Trade

When I first started to look for books on forex trading I was basically overwhelmed by the massive amount of information available online. Tons and tons of books on forex. I had no clue about where to look or what would be a particularly good book for me. So, I started with the basics.

The first book I ever bought regarding the subject was a very very basic book which I recommend to anyone who is new to forex trading. It was "Technical analysis for dummies" and even though the book is extremely basic, it features many of the things a forex newbie MUST now and most of the other books take for granted. This book opens up the door to the understanding of technical trading, giving you the option to apply the acquired knowledge directly or divert to more sophisticated books on the matter. I provide you know with a link in case you are interested in the book

The next books I purchased are the basis of my forex knowledge and provide both a psychological and a practical approach towards the forex market. They make you realize that your worst enemy when trading is yourself. This books are "Mastering the trade" and "Day trading the currency market". The first book is written by John F. Carter in a very easy and engaging way to read. You practically enjoy reading this great book while learning a great deal about the forex market. You get insight along John's personal trading system and decision making system. You also enjoy a grasp of his money management techniques and other loss control strategies which should help you become a profitable forex trader.

And last but not least is Kathy Lien's "Day trading the currency market". I respect Kathy Lien a lot as she is a really experienced forex trader and her particularly good insight in dailyfx.com has given me a pretty good number of profitable trades. This book has a lot of information on the forex market, from the history to fundamental and technical trading strategies. The book is much much more boring to read than the last two but provides some necessary information you will be glad to have once you start you live trading carrier.

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