As a forex trader, it’s essential to constantly educate yourself and expand your knowledge base. One great way to do this is by reading books written by experienced traders and industry experts.
“Trading in the Zone” by Mark Douglas (Average Pricing $5 to $10 USD)
This book focuses on the psychological aspect of trading, helping readers to develop the discipline and confidence. Additionally, the book also provides insights into the nature of the markets and how to approach risk management.
“Japanese Candlestick Charting Techniques” by Steve Nison (Average Pricing $30 to $50 USD)
A comprehensive guide to understanding and using Japanese candlestick charting techniques. Furthermore, it provides practical advice on how to avoid common pitfalls and stay disciplined.
“The Art of Currency Trading” by Brent Donnelly (Around $40 USD on Google Playstore Books)
A classic investment book that provides sound principles and strategies for investing in stocks. This book is known for popularizing the concept of “Mr. Market,” a hypothetical figure who fluctuates between being irrational and rational, and encourages investors to buy stocks when they are undervalued and sell them when they are overvalued.
“Forex Price Action Scalping” by Bob Volman: (Around $40USD on Amazon)
Based on writer’s belief that successful traders must learn to interpret the market using price action alone. In addition, with numerous examples and case studies, it provides readers with a comprehensive understanding of how to use price action strategies
“Reminiscences of a Stock Operator” by Edwin Lefèvre (Cost about $20 USD)
Although this book is about stock trading, its timeless lessons on trading psychology and market analysis are applicable to forex trading as well. Overall, “Reminiscences of a Stock Operator” is a must-read for anyone interested in trading or investing.
“The Complete TurtleTrader” by Michael Covel (Cost about $15 USD)
This book tells the story of a group of novice traders who were trained to become successful traders by the legendary Richard Dennis.
“The New Trading for a Living” by Alexander Elder (About $30 USD on Google Playstore)
This updated version of a classic trading book provides practical advice on how to develop a trading plan, identify trading opportunities, and manage risk. Hence, providing valuable resource for traders of all levels who want to improve their trading skills and achieve long-term success in the markets.
“Market Wizards” by Jack D. Schwager (Average about $20 USD)
Traders share their experiences, successes, failures, and lessons learned, making the book a valuable resource. A must-read for traders looking to gain insight into the minds of successful traders and improve their own trading strategies.
“Day Trading and Swing Trading the Currency Market” by Kathy Lien (Cost about $30 USD)
A practical guide to forex trading, covering topics such as charting techniques, fundamental analysis, and risk management. Covers both day trading and swing trading approaches, and provides insights into the psychology of successful trading.
“Currency Trading for Dummies” by Kathleen Brooks and Brian Dolan (Cost about $15 USD)
Provides a great starting point for novice forex traders, offering a comprehensive guide to the basics of forex trading. Thus, making “Currency Trading for Dummies” a valuable resource for anyone interested in currency trading.
Investing in second-hand books is a cost-effective approach to building your library of forex trading resources. Moreover, buying second-hand books are cost-effective ways to build your forex trading library and gain valuable market insights.
In summary, these books provide valuable insights into forex trading, helping traders with effective strategies in the market. Therefore, making these books in our top 10 must-read books list for Forex Traders in Philippines.
Alternatively, if reading is not your cup of tea, consider taking up free online courses.
Investing in second-hand books is a budget-friendly way to build your forex trading library. Alternatively, you can take advantage of free online courses if you prefer not to read books.
Embark on your trading journey with VT Markets Philippines, equipped with the knowledge and strategies from these essential readings. Happy trading!
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