Looking to dive into forex trading? It’s an excellent opportunity to earn big and be reasonably successful. However, the forex market is a little tricky and quite volatile, making it challenging to be successful, even for experienced traders truly.
That doesn’t mean you shouldn’t try. With a bit of research, learning, preparation and testing, you can be well on your way to a successful forex trader. There are a few starting points to consider, including finding a regulated and reliable forex broker (we have a list of regulated FX broker Australia to consider). Before that, though, it’s not a bad idea to spend time reading what forex trading is, understanding the market and how to create a winning strategy.
Ready to start? We have a list of five must-read books for a beginner forex trader.
Currency Trading for Dummies by Brian Dolan
The “for Dummies” series are always an excellent starting point on almost any topic out there. They provide valuable information that is broken down in ways to make it easily digestible and practical.
The Currency Trading for Dummies is an easy-to-read instructional book on learning about the forex market and currency trading. Top forex gurus always update it to keep up with the demand. Plus, it offers excellent insight that can be valuable for experienced traders looking to brush up on their skills.
Japanese Candlestick Charting Techniques by Steve Nison
You’ll want to learn about candlestick charting before you start forex trading. That’s because the candlestick chart offers so much valuable information all on one page. However, if you don’t know how to interpret it, you’ll be staring at a screen with shapes, having no clue what to do.
Japanese Candlestick Charting Techniques is a good starting point for learning this essential charting system. It provides in-depth education and information, and technical analysis tools to master your candlestick charting techniques.
How to Make a Living Trading Foreign Exchange: A Guaranteed Income for Life by Courtney Smith
A book published by an investor educator, you can ensure that you’re providing valuable information that is easily understandable. Although you’ll often be ready to stay clear of those who promise or guarantee success, How to Make a Living Trading Foreign Exchange: A Guaranteed Income for Life provides vital information to get you on the path of success. There is a good overview of the market, along with multiple trading strategy ideas.
A Three-Dimensional Approach to Forex Trading by Anna Coulling
Although it’s a big read, A Three-Dimensional Approach to Forex Trading is worth your time. Published by someone in the industry for almost two decades, this book explains the technical side of things clearly and concisely.
This book is excellent for both beginner and more advanced traders. Beginner investors can get a more in-depth overview of the forex market to help get them started.
Day Trading and Swing Trading the Currency Market: Technical and Fundamental Strategies to Profit From Market Moves by Kathy Lien
Want insight from one of the most well-known analysts of the currency market? Then this book is for you. Get the fundamentals of forex trading while learning and understanding a variety of trading methods that you can test out. An expert in the field is providing beginners with valuable information to succeed. From low spread forex brokers to the most challenging techniques, you’ll learn it all.
