Books to read?

Hi guys,

Ive recently recently taking an interest in the forex market and started reading the book “profiting with forex” by John Jagerson & S. Wade Hansen.

Im getting into it and its giving me a good insight to the forex market. However i noticed it is written in 2006. Does this mean alot of the material is out-dated?? I know the same rules and stuff will apply but was just wondering if its abit outdated with the examples etc. Is there another book thats more recent i can read. I intend on reading the baby pips school of pipsology also.

Also i noticed that alot of the material is relevant to the U.S. market and the U.S. government etc. Im from the UK and was wondering if the book was abit one sided and more towards the american reader. Im aware that it will help me understand the U.S market and what affects the dollar etc. But i was wondering if there is a book that is abit more open or doesnt require me to be ontop of us news with limited resources in the U.K if that makes sense. :S

Any feedback will help. :slight_smile:

Kind regards.

Sterling

I would say just spend your time reading and practising the info in babypips school. I have read a quite a few books but i have honestly learnt more following threads on this site. Just search for price action trading and you will find some of the best threads. If you do really want a book i would recomend you read up on the physcology side of things. My favourite all time book is ‘the market wizards’ although it is old it is still brilliant. Also search for threads on here becasue there are loads of threads on the best books.

The most important book to read is “Trading in the Zone” which is the trader’s Bible. The info in that book is worth it’s weight in gold. Period.

The author’s older book, “The Disciplined Trader” is also awesome. It seems as if the guy really just reframed his original concepts when he wrote “Trading in the Zone” as most of it is contained in the older book. There’s a lot of stuff in the older book that isn’t in the newer one. Personal examples and stories and stuff. I think that reading both should be the first thing that new traders do.

To be honest, I feel that there should be a requirement that traders have filled out their own summary of each chapter in the newer book (checked against those anti-plagerism things that universities use) before they be allowed to open either live or demo accounts at any broker.

@sterling33 - this is what you need - http://forums.babypips.com/newbie-island/36328-what-every-new-aspiring-forex-trader-still-wants-know.html

Books there are hundreds of them. I seriously put down at least 1 trading book at week, and have been doing that for over a year now. I find it extremely helpful, and gives me other prospective. There are tons of great books, on psych - anything by brett steenberger or jack swagger, total overview of trading - Alexander Elder (come into my trading room, entries and exits, trading for a living) covers tech, psych, having a rules based system , general techinical analysis - martin pring, also the encyclopedia of technical indicators i believe its called there another one i think, encyclopedia of trading systems. They are very long books but have statistics of a lot of the popular trading indicators and price formations. Very intresting read. Also candlesticks nison obviously. Really then you could go on and on, I like adaptivity and using underlying market micro structure so anything by larry harris or ohara.

Forex isn’t bad, just making the right move and calculations. Welcome to forex and learn well.

You might need to visit the forex pages of Investopedia, I am sure you will find lots of unbiased materials.

There are lots of forex books to lay your hands. However, there is no better place to learn than forums. On forums, you will find good strategies to use and even get answers to questions that matters.

I have only read “Forex for dummies” because that time i was a dummy.

First of all, I totally agree with FXAssassin. Both books should be compulsory reading for newbies to help them (us) gain a bit of an understanding of the intense introspection that is required to survive and flourish in the long run. (unless you just mistake prolonged luck for skill)

But since he already took the words out of my mouth I’m going to take another perspective on this FX books topic. As for someone who really enjoys to reflect over the philosophy of the business and to come up with all the answers “independently” I really enjoyed “Fooled by Randomness” and “The Black Swan”, both written by Nassim Nicholas Taleb.

Both books touch upon the elusive concept of randomness and dabble in all of its implications, but not in a daft, dry academic way as usual. Taleb has a very poky and unacademic style of expressing things, which is why I have to admit he’s one of my favourite thinkers/entertainers at the moment. He goes on to bash economists, journalists and all other people who take their jobs that in essence deal with extreme randomness a bit too seriously, and makes some important distinctions along the way. And he manages to be quite funny in the process. Anything written by him is worth devouring to the letter. If for no other reason, then just because he’s so darn hilarious when he gets to the topic of economists. :18:

Anyways, both are well worth reads and probably among the few books I actually think is worth owning.