Top 5 Books and Alternative Resources for Understanding Forex

Obviously, investors are trying their best to understand a market where more than 5 trillion dollars are exchanged daily. Tutorials, guides, articles, YouTube videos, forex books are all sources of information that can teach you how to trade forex. To help you understand how forex works, we've compiled the best books available online and in bookstores, as well as some alternatives to books to complete your learning.

Top 5 books for understanding Forex

We took many factors into consideration when compiling this list: paid book or free, in print or PDF format, for beginners or advanced, whether it is technical analysis or fundamental analysis. Therefore, the list of works on the currency market is quite diverse. Most of the books here are suitable for traders of all levels, and you are sure to find a book that fits your needs and your forex trader profile.

1. Forex Trading: A Quick Guide to Technical Analysis

This book is written by Reynard Mattison and has been published on February 25, 2019. It focuses on Forex technical analysis and allows the trader to understand price movements based on chart elements. The problem with beginners is most often that they don't know how to interpret charts - that's why they find it difficult to understand forex trading signals. This book provides a brief overview of technical analysis. To better substantiate the explanations, it is accompanied by images. The work contains 207 of them. The original is in French.

The book ranks 416th in the ranking of technical analysis, and its content is easy to understand. Moreover, the author had the ingenuity to combine these explanations with images and charts (for example, for forex indicators) to facilitate the reader's understanding. Most sites that publish reviews of the best forex books still include it despite the lack of information about the author of the book online. Since the content of the book is enriching and accessible, we cannot do without it in our ranking.

In the presentation of the book, the author does not hide the fact that it is a book about Forex intended for beginners. New traders who find it difficult to understand technical analysis, interpret charts and grasp trading signals will find it extremely useful. The book is dedicated to teaching the basics of technical analysis without using complicated technical terms.

2. The Journal of a Professional Commodities and Forex Trader

A work by Peter L. Brant, published in April 2013 and containing 343 pages. The author of the book is a commodity and currency trader with more than 30 years of experience. Moreover, he has worked for the greatest industrialists of his time. The work is considered to be an autobiography as the author traces the journey of a trader in the foreign exchange market.

The book is divided into four main parts: the basics of trading success, characteristics of an effective trading plan, a five-month trading journal and a resume. The author provides his readers with his own experience in Forex, trying to show them how to build their portfolio from charting elements.

The work is written by a foreign exchange market professional who has achieved an average annual return of 68% in this market. The book allows traders to benefit from the ideas and experience of this man who has succeeded in the currency market. It is suitable for any trading profile. Learning from other people's experiences is always a good thing, regardless of your profile. If you are a beginner, you will learn a lot: the author has collected tips that will help you avoid major mistakes in the market. For example, he pays a lot of attention to the role that risk management plays in market speculation.

3. The Adventures of a Currency Trader: a fable about trading, courage and doing the right thing

This book is almost like a diary. In his work, Rob Booker tells us about his adventures in the currency market.

According to Reggie Horner, forex trader and author, "Rob's fable about a simple man, 'Harry Baines,' is destined to become a trading classic. It is both the missing piece and the foundation that precedes strategies and methodologies. The quest for the Holy Grail begins and ends in the heart and mind. The journey is a real one, and if you are willing to go on it with Rob, you will be rewarded at the end."
Some argue that this book should be used by all forex traders. The book is written by an author who is highly respected among investors. It has a reputation as one of the best forex training books. Moreover, many of those who have gone through it Rob is making very good profits in the market today. This book should be read already in order not to make silly mistakes in the forex market. If you are a beginner and want to learn from someone who has really succeeded in the market, read it!

4. Day trading and swing trading in the currency market

Kathy Lien offers us a complete book on day trading and swing trading in forex. The author's goal is to provide beginner or intermediate traders with enough baggage to compete with bankable investors. To accomplish this, Kathy covers a lot of the basics:

  •  How markets work;
  •  How to analyze past fluctuations in order to use winning strategies in the short term;
  •  What the characteristics of each currency are.

This book takes its place in the selection of forex trading books for a reason. First, this book is recommended by several other financial information platforms. Also, for a book that is supposed to address a very technical topic, the author was able to explain it well in simple words. Kathy very appropriately said that the book is meant for beginners and intermediate level traders. But given the content of this book, it should also be of interest to any trader. Regardless of your experience, you can always improve your level. Read this work before investing in forex.

5. Speculate successfully in forex: 2nd edition

Philippe Lermi is a trader who has been managing the EDF Group's foreign exchange portfolio for several years. He began his interest in financial markets in 1990 and since then has never stopped attending courses and reading about the markets. This work incorporates all his years of experience. With more than 15 chapters and 368 pages, this book has everything a beginner and a professional trader needs.

If you read this book, you will be able to understand the basic mechanisms of the foreign exchange market. After that, you will also be able to identify and utilize the features of certain currencies in the market. Finally, you will learn the strategies that the best traders use to achieve success in Forex.

This work provides us with quite an in-depth analysis of Forex. Despite the fact that the book is dated 2008, the content does not seem outdated. Moreover, the author of the book has a very good reputation in the French-speaking world when it comes to Forex. It's no coincidence that it has a rating of 4.1/5 on Amazon.

Alternatives for learning Forex

Books are a great way to learn about the foreign exchange market before investing in Forex. But there are other very interesting, and sometimes more practical alternatives that allow us to learn a lot about the forex market.

Online Forex Training

Forex training can take the form of seminars or webinars. There are many online forex training courses available online. They are offered by online forex platforms, marketing agencies specializing in finance, financial media and even individuals. As for the format, there is quite a wide choice on the market: short or long lectures, free or paid, for beginners and for advanced traders. You are sure to find a course that fits your profile.

Trading schools

Trading schools are technical schools that allow students to learn how to trade effectively in the financial market. Trading schools teach you how to trade everything from the stock market to cryptocurrencies. Thus, you can be sure that you will know everything about currency pairs after your training.

Demo trading accounts

The last alternative is much more practical: demo trading accounts. With these accounts, you can start by familiarizing yourself with forex platforms by trading currency pairs. The advantage of demo trading is that you are spared the stress that traders face in their real account. It is a good way to learn about the markets and gain experience.


Leave a review

Tell us your story

Is the broker not honoring the terms of the agreement or trying to screw you?

By clicking on the button you consent to processing of personal data