Beginner book recommendations

Hi all, the consensus is that I should be reading books rather than watching people on Youtube to learn. My problem is I am not a great reader as it doesn’t seem to sink in aswell as it does watching something visually. But that aside can anyone recommend any books for beginners that put across forex trading in the simplest way possible? I know that’s probably a contradiction in terms as its clearly not a simple subject but I am look for the most simplistic approach to learning from a book as possible.

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These helped me and gradually enabled me to trade (and were all originally recommended to me by successful traders whom they had also helped):-

Profitability & Systematic Trading (Michael Harris) - this is “the basics of the maths/probability you simply have to understand to have much chance at all”.

Trade Your Way to Financial Freedom (Van K. Tharp) - an outstanding starting-point, and don’t let the title put you off, and don’t confuse it with his other, later books which were written after he and his publishers had learnt that trading psychology books sell far better than trading mechanics books.

Beyond Technical Analysis (Tushar S. Chande) - similar to the Tharp book above, also interesting.

Understanding Price Action (Bob Volman) - for people like you and me who don’t trust indicators very much and want to keep things simple.

Naked Forex: High-Probability Techniques for Trading Without Indicators (Alex Nekritin & Walter Peters) - suggested “systems”: some are quite good and they have sound underlying principles.

That will start you off.

Don’t try to read Al Brooks first book (I mention this to you only because I recommended his video course in another thread you started): it’s absolutely incomprehensible, very badly written and not edited professionally at all - his later books are much better when you’re ready for them (a while ahead, for now!).

Two other authors to avoid:-

  1. Mark Douglas (by his own admission he couldn’t trade at all, though his wife did, but he was a very articulate and erudite “psychologist” who managed to convince a whole generation of traders who didn’t have an edge that what they actually had were “psychological problems” - avoid, avoid, avoid!)

  2. Steve Nison (dreadful books, with the “examples” so cherry-picked and so carelessly arranged that some of the diagrams actually even show counter-examples to the points the author is supposed to be trying to illustrate - just appallingly bad! There are many far better books on “candle patterns” if you want to learn about that subject.).

All personal opinion/experience only, obvs. Good luck!

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You said it all! Great recommendations :+1:

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no reading or watching youtube videos will help you with trading… unless you are an absolute noob, and have no clue how the markets work.
If you have basic idea of the Forex pairs… commodity markets etc… just start trading on a demo or a small live account with at least $100 to start with… with a reliable broker.
Hands on experience is the best way to learn how to trade… Mitigate risk and take control of your emotions.
Its not easy… however not impossible either.

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Once I had a grasp on global macroeconomics, market microstructure was one that helped me the most. The book is not easy to read, and very detailed. A must for speculative traders imo.

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