Forex trading is a rewarding and exciting profession. Unlike your average office job, trading is unlikely to tire you. Every trading day is unique and presents you with fresh obstacles. It is simple to understand why people desire to participate, given the presence of relatively decent rewards.
However, you shouldn’t expect your forex journey to be easy- it is far from that! The career is very tough, and you should be ready for many unexpected twists and turns.
To ensure you set yourself up for a successful trading career, you should make sure that you start correctly. In your first few weeks, you should spend most of your time researching and making sure you understand trading.
This will mean a lot of reading. So it would be helpful if you had a list of the best books to get through. So, read on to find out the top books for beginners in trading.
Currency Trading for Dummies (Brian Dolan)
Learning how to trade correctly as a novice might be difficult. Trading isn’t easy, and it comes with a lot of extra words and jargon, which might make following more complex trading guidelines more challenging.
This book excels at condensing complex facts. It contains easy-to-understand and straightforward guidelines for trading the currency markets. This book is not only for novices; seasoned experts may also profit from it.
Forex Trading: The Basics Explained in Simple Terms (Jim Brown)
This is another book aimed at newcomers. It’s a good idea to learn the fundamentals of forex trading initially. After you’ve grasped these concepts, you may go on to more in-depth research and techniques.
As a result, this is an excellent book to read in the early stages of your trading career. It goes over basic concepts, including the definitions of forex and forex markets and how forex pairs function.
It also gives some ideas on where you should put your entrance and exit points.
Day Trading and Swing Trading the Currency Market (Kathy Lien)
This book focuses more directly on currency market trading tactics. This is a more advanced book that will come in handy once you’ve mastered the fundamentals.
You’ll get a step-by-step guide on trading tactics that will help you make regular earnings.
Trade Your Way to Financial Freedom (Van K Tharp)
This book is also more helpful if you read it later in your journey after doing some preliminary research. The majority of the book is devoted to showing you how to apply your knowledge to improve your trading strategy.
This book isn’t only about forex trading; it’s about all kinds of trading. It does, however, have a lot of characteristics that are directly related to forex trading.
Japanese Candlestick Charting Techniques (Steve Nison)
The book Japanese Candlestick Charting Techniques delves deeper into technical analysis. Technical analysis is one of the most challenging aspects of forex trading, yet it is essential. You’ll most likely want to have a good grasp of it as well as some techniques on hand.
This book goes into candlestick trading tactics in great depth. If implemented appropriately, this can set you up with a highly effective trading technique in your first few months.