What book is a must read for an aspiring forex trader?

Question by garden_snake99: What book is a must read for an aspiring forex trader?
I’d like to know what books you would recommend to someone who would like to make it in the forex business. I’d love to learn from experienced traders talking about their struggles in this very tough market.

Best answer:

Answer by jsforex.blogspot.com
there is not one book that will bring miracles to your trading. You will have to read a number of books, develop your own theory on how you can make money trading forex, and practice.

Some books that have helped:
- beyond candlesticks
- the mental game of baseball

good luck!

Add your own answer in the comments!

SwanLin Y says:

June 2, 2012 at 3:00 am

I liked Jesse Livermore’s The World Greatest Stock Trader. Other good ones are like ‘Mastering the Trade’ and ‘Trade Your Way to Financial Freedom’.

You can see more at this list.
http://swanlin.googlepages.com/forexbookstoread

stefff67 says:

June 2, 2012 at 3:38 am

According to ezinearticles.com These are 6 books that all forex traders should carry along with them:

1. Market Wizards – Jack Schwager

This is a compilation of interviews about people who make a living through currency trading.

2. The New Market Wizards – Jack Schwager

A continuation of interviews derived from Schwager’s great interview techniques just like Market Wizards.

3. Trader Vic–Methods of a Wall Street Master – Victor Sperandeo

Known for his “2B” test technique, Sperandeo’s book is definitely one of my favorites.

4. The Zurich Axioms: Investment Secrets of the Swiss Bankers – Max Günter

This a definite hit in the foreign exchange library. It is easy to read and you’ll feel your adrenalin pumping at every page.

5. What I Learned Losing a Million Dollars – Jim Paul and Brendan Moynihan
This is an inspiring story of a person who lost a million and a half and tells his tale, with great insights, including even his contemplating suicide.

6. Technical Analysis – by Jack Schwager

I found this a great reference book about everything that has to do about technical analysis.

I haven’t read all of thesejust some, but personnaly I learned most about forex trading by reading in forums, this is where you get a lot of feedback when you don’t get it.

Kristian says:

June 2, 2012 at 4:23 am

there is not one book that will make you successful trader!
only your personal experience, talent and self-control!

James says:

June 2, 2012 at 4:49 am

There are a lot of books you can read. Just look up ‘forex’ on Amazon and read the ratings of the books. I like:

- Trade with Passion and Purpose (Whistler)
- Forex Patterns and Probabilities (Ponsi)
- Day Trading the Forex Market (Lien)
- Beat the Odds in Forex (Toshchakov)

and yes, you must read The Market Wizards by Schwager.

You should also test all strategies you read about:

http://hbhawaii.com/forex-back-testing/

Good Luck!!

David says:

June 2, 2012 at 5:06 am

There are a lot of books out there that can help with any kind of investing. But it’s not always about reading. With most things, practice is what really counts. When I started my first business years ago, I didn’t know much about it. I read a couple books, but they just filled my head with half-cooked ideas. Once I started working on my business every day, I learned a lot. It’s all in getting “hands on” experience.

Try opening a demo account. Then, when you read something that sounds interesting – go to your demo account and give it a try. See if you can make the principles work for you. That’s the only way you will ever really become successful at trading anything, Forex included.