Best Forex Trading Books that will Make Your Trading Journey Better
No matter how much technology advanced and we got used to consuming content fast, and right away, books are still something nothing can beat. Yes, they got their digital and audio versions, but you still have to read or listen through the whole process and analyze it in your head using words only. Every reader has a different experience after reading the same book. That goes for the best books for forex trading, as well.
Forex is solely a digital market, and it exists thanks to the internet. But, that doesn’t mean that useful content can be found only on the world wide web. On the contrary, many people have “cracked the code” and decided to write something that you can always browse through wherever you are. We will tackle the best trading books for forex trading that readers gave the best reviews, and that we read ourselves. We will recommend the ones that were super useful in terms of trading and life.
The Intelligent Investor by Benjamin Graham
Warren Buffet praises this book immensely, saying it’s the best he’s ever read. Bear in mind that you will have to possess a certain amount of trading experience before you begin this book. If you try reading it right off the bat, without any knowledge, it will make you frustrated and make you unwilling to get into trading. On the other hand, if you are experienced, this book can take your trading to a whole new level. You will look at trading differently and certainly spot some things you have to improve in your trading strategy. People consider Benjamin Graham, one of the most significant investment advisors, and his primary philosophy focus is on “value investing.”
In his book, Graham teaches people how to take care of their investments by avoiding common mistakes that can easily be eliminated. What he tries to teach every investor is developing a long-term strategy. It’s fantastic that this book was published back in 1949, and it’s still the most valuable book you will read regarding finances. Don’t think it’s outdated – on the contrary. His methods are still very applicable, and in the newer edition, Jason Zweig added chapters that tackle today’s market. He tries to compare old examples to the new ones and find common ground. He made this book more understandable for people today, with success. Don’t skip on this book, when you get into trading and all the terms. After all, this is the best book around for forex trading.
Principles: Life and Work by Ray Dalio
What you should know about the author is that he’s also one of the most successful investors today. This book gained lots of attention during the last couple of years, and everyone reads it – from regular people not interested in trading at all to investors. Why? Because Dalio incorporated both of his world, his life principles and what he does regarding work. These principles he devised for forty years are rather unconventional for some people, but they work. What makes the book charming and attractive is the fact that his principles apply to everyone no matter what their goals are.
Yes, Ray Dalio has the fifth most valuable private company in the US, which is an investment firm. This doesn’t mean you can’t learn from his life and how he managed to do it all. He doesn’t pressure you to do everything at once. But, instead offers you lots of lessons you can use however you wish, in no particular order. He proposes new ideas emphasizing that everything in life, including your work, the world economy and investing can be summarized into rules that work. It’s enough to hear that Ray Dalio has the nickname “Steve Job of investing,” to be interested in reading this masterpiece. Every trader will find it useful in his forex trading journey.
How to Day Trade for a Living: A Beginner’s Guide by Andrew Aziz
Aziz’s book is considered the best forex trading book for beginners. It is obvious why. You have everything explained about trading in this book, from the fundamentals to different styles and types of investments. The main focus is on strategies. Because once you start live trading, they are the most important to rely on and something you should have ready before you start (and tweak it along the way). The author said he kept it short on purpose. That way you don’t get bored and give up on trading before you even get to learn what it is.
It is the best book for forex learning if you are a beginner. After you finish reading, you will know how to start and where. You will have a preview of what to expect and the different ways to develop your strategy. With this being said, Aziz emphasizes the importance of practice and constant education; even when you finish this book. He said himself that just reading the book, can’t make you a profitable trader. This is not something to take negatively, but somewhat objectively and honestly. You will need to experiment and try out different things after you’ve read the book. As we said, it gives a great foundation, but knowledge without practice is nothing but having memorized something without implementing it.
In Conclusion
What we like about these books is they are realistic but give you a plausible choice. These authors will tell you multiple times, whether they come from a digital age or not, that trading isn’t just a hobby. Nor is it gambling. You can’t approach it without any knowledge and think you will gain money quickly. This is something only scammers will push as a way of trading. Routine is essential. With some set principles, and adding some of your own along the way, you will be more than prepared to go take the help of these forex trading books.
