Hi everybody,
I am new to the forum, new to forex and new to the whole trading thing altogether.
I have just started at the school of pipsology, but my question is can anybody recommend a beginners book that I could read on my lunch break at work, train journeys, in my spare time, on holiday and so on.
Thanks
Ashley Henry
Anything by Jack Schwager, good on psychology etc but also does some helpful technical stuff, so I would start with him. Market Wizards and then New Market Wizards were the first two I read and they helped me.
I didn’t find any hard copies that were helpful when I started this. Trading is an area (much like computers and computer training) that doesn’t lend well to texbooks. Books in this area deal more with the esoteric and philosophical. I would suggest investopedia. The internet is filled with great training materials. Also, Youtube has a guy that has a long video series on Forex trading, Informed Trades with Dave Waring. I viewed the entire course and it was more helpful than reading dry text, it coordinates charts and visuals with the training course.
Trading in the Zone by Mark Douglas.
A good book about trading psychology.
“The Trading Game” by Ryan Jones Its a good book on Money Management
One of my favorite forex books is Trading for a Living by Dr Alexander Elder.
What type of trading book are you looking for? A book that helps you formulate a trading strategy? A book that helps with money management? A book that helps with psychology/mindset? A book that helps with a little bit of all of the above?
Master the Markets by Tom Williams
Thanks for sharing your favorite book.
Can you please let me know can I get this book?
While you are contemplating on books to read, you should have a demo account place to practice with. Many of these ebooks are so complicated for a beginner. You mess up your head if you pick the wrong material. Investopedia has some nice explanations, but ofcourse you need to know what to look for and what to read. While using the Profiforex Demo account, I found some useful self explanatory articles that helped me use the platform easily. Their e-course was really helpful.
Personally, I would recommend Steve Nison’s books on Japanese candlesticks. I, personally, found them very helpful.
I have the Steve nison book and it is good but two books by Anna coulling have hugely improved my trading and consistently making a few % per month.
They are forex for beginners and volume price analysis.