Best Books For Forex Trading Beginners – Our Top 5 Picks In 2018

5 Best Books For Forex Trading

Most of the successful people in the world are voracious readers of currency trading books. Forex trading is one where new strategies get added frequently. To keep up-to-date with the latest plans, reading books for forex is significant to become a successful forex trader. Most retail traders start their trading career in Forex as the entry barriers are low.

However, Forex trading is not easy and not always a wise decision, as one has to have a profound knowledge world currency market, volatile situation, and political undercurrents. You have to focus on trading what you are confident about. Reading best forex trading books is one way to gain some real knowledge, and you should always look for best books on currency trading to understand the forex trading intricacies.

5 Best Books On Currency Trading

The best book on trading currency

Trading in the Zone by Mark Douglas is the best Forex trading book that can be referred to as the "bible" in trading. He is one of the great trading psychology educators of all the time. Douglas has tried to cover the reason for lack of consistency and tips to overcome the same. He also discusses the popular myths surrounding the market and exposes them to understand the realities.

About 95% of the traders have faced the stark reality of Forex trading and faced the bleak situation before quit trading. Due to lack of knowledge in trading psychology and poor money management skills makes a person fail in the whole trading journey. Mark is trying to bring the real reasons and solutions for this problem into the light through this best book on Forex.

If you want to improve your trading consistency and money management skills, applying the lessons discussed in the best books on Forex – Trading in the Zone will help. It will also increase your chance to stay in the trading game for long to make enough profit.

Mark follows a different strategy in his book on Forex trading to teach you things. He discusses the common mistakes retail traders will make and how that can lead to your failure in the market. He stresses the point of not to have emotions with market interactions because the market doesn’t care for individuals.

The best Forex book will help every trader to approach Forex trading psychologically so that it prepares you to face any situation. Once you can sort out the psychology factor, it is about choosing the trading system that is best suited for you. You can have all these helpful information on one of the best books for Forex trading, “Trading in the Zone.”

One of the best forest trading books

Many Forex traders step into the forex market without enough knowledge and properly developed system. Most of them try approaching the market in an unorganized manner without learning about how the system works. Trade Your Way to Financial Freedom by Van.K.Tharp is one of the best books on currency trading that explain the process of developing a system for successful Forex trading.

Out of many books for forex trading, starting from the basic idea, Van Tharp takes you the final step in a detailed manner. He discusses the importance of having an organized and systematic approach towards trading. The best book on forex is easy to understand, and you will have everything explained with relevant examples.

The examples are 100% appropriate, and some of the successful systems that have been using by several famous traders have also discussed in his book.

The currency trading book is written from a theoretical perspective instead of giving quick fixes for the problems traders face. Alternatively, the book tackles the whole trading techniques, but structurally, you have to start reading from start to end to get a complete picture of things.

Tharp shares some vital trading tips for traders who are serious about Forex in his forex trading book. He talks about a random entry system which can produce huge profits if you follow the exit rules properly. He also states that the most important part of Forex trading isn't entering the market, but selling is the key. A sale is what determines your win or loss, not the entry. Profits can come in only from selling things.

The best book on currency trading

The book Technical Analysis of the Financial Markets is by John.J.Murphy who is known as the father of inter-market technical analysis. He is a top American financial market analyst who has authored a few books for forex and financial market analysis.

It is one of the top books on currency trading which is an easy to follow comprehensive guide that shares the concept of technical analysis and its applications in the future markets. The book can consider as a bible in the industry and is using as a prime source of study for various marketing programs.

If you wonder what makes it as the best forex trading book and why it is popular is the clarity of information, the simplicity regarding language and the logical structure that makes the book in high demands.

Due to the widespread demand, Murphy has even come up with an entirely updated version. In fact, all chapters have updated with the changes in the market. The best book for Forex trading covers topics like identifying market trends, charting, basic patterns and behavior of different instruments, oscillator, moving averages, cycles, etc.

The chapters include almost all the building blocks of technical analysis, but the way he explains the information to readers is the foundation of the book. Forex trading and financial management itself is a complex topic, and it is not easy to explain it simply. Murphy has been successful in this herculean task and hence considered as one of the best books on forex trading.

The financial market has discussed along with more than hundreds of up-to-date illustrations, and there are chapters' exclusively dedicated to stock market indicators, inter-market analysis, and candlesticks. Technical Analysis books for forex is a treasurable tool for traders of all levels who like to learn the essential basics of charting through the latest models and advanced analysis systems.

The best book on currency trading


The Reminiscences of a Stock Operator is one of the best books on currency trading by Edwin Lefevre, based on Larry Livingston, a veiled depiction of Jesse Livermore. Jesse Lauriston Livermore was a popular American security analyst cum investor. It is one of the best books for forex beginners with the narration of his life and time. The book is the best investment classics of all times. Though written 70 years ago, the collection of stories is still relevant in today’s trading market.

The book doesn't preach ideas, but through a series of stories, it teaches lessons about the truth and wisdom of trading. The fictitious character Mr. Livingston is a trader who gambles in stocks often. He successfully generates a million dollar fortune through trading but later loses everything.

The character learns from his mistakes and sharing his lessons with readers. Livingston gives little parables whenever he interacts with his fellow traders. His interactions with people and the way he reacts to a particular situation is a big lesson from which you can learn to reap success or to avoid losses. Beyond the knowledge sharing merits of the book, it is indeed a well-written book in a storytelling manner. After reading this book, every reader will think what if Livingstone or the real Livermore was around today.

The book for forex, Reminiscences of a Stock Operator, is open to the must-read trading books for anyone who dreams to become a successful trader. You can treasure it as the best book for forex investment advice depicted with real-life examples which traders should apply when analyzing stocks.

The best forex trading book

Japanese Candlestick Charting Tecniques

Investors, who want to read best books on Forex, Japanese Candlestick Charting Techniques by Steve Nison is a must read. He is the popular leader of using charting candlestick art efficiently as a market analysis tool. Steve Nison is the owner of Nison Research international offering technical advisory and seminar services to financial firms.

Though the technique was new to the western world, 100 years ago from the time this book has written, happened have been using their style of technical analysis in the trading markets. The charting technique has a pretty close resemblance to candlesticks, and that is how the name derived from the practice.

If you want to improve your trading consistency and money management skills, applying the lessons discussed in the best books on Forex – Trading in the Zone will help. It will also increase your chance to stay in the trading game for long to make enough profit.

The best book on forex has two editions, and it features over 300 charts that use candlesticks along with other western charting techniques. In the first edition, the author discusses all Japanese candlestick patterns along with the significance and comparisons of different methods. In the second edition, Nison explains how to blend the Japanese candlestick charting with some of the very significant western indicators like retracement levels, oscillators, volume, etc. It also discusses how to exit trades with measured moves without losing anything.

It is possible to get pages of information about Japanese candlestick charts on the internet, but this book is the best tool that gives you the right insight. Once you own the best forex book, there is no need to search on the internet to find what certain patterns signify.

Verdict – best books on currency trading

The major lesson you get from all these books for forex is, the market doesn’t care about you or doesn’t know who owns it. In trading, the best ability you need to possess is to identify when things go in a wrong direction. The market goes in its own way regardless of any trader’s position. Hope is an alien subject in forex and stock trading and hence no room for sentiments.

If you are looking for primary to advanced trading strategies and interested in learning the psychology behind trading, these books on forex trading are a real treasure in your trading journey.


Forex and stock trading always reflect an amount of uncertainty. That is the beauty of the trading. It is a market of risk takers. If you are into trading and investments, you might be checking for the best books for forex on which you can rely on everything. 

Forex trading is a vast field and to be successful in that, you require different strategies, a combination of ideas, unique implementation techniques, testing and a lot more. You will not be able to get this from one book alone. As a growing trader, you will get the benefits if you have access to some of the best books on currency trading listed in this article.