Hi,
I’m looking for books about buyers and sellers psychology on charts. i.e. Why the uptrend movement take all sellers stop losses before reverse and goes in the right direction. Or Why huge movement at the precise moment in the chart. etc…
Thanks.
Chris
Usually the behavior that you’re asking about stems from market catalysts, typically economic, policy or geopolitical in nature. The psychology part usually comes in handy after the event, not as the catalyst. Books like “Intermarket Analysis: Profiting from Global Market Relationships” can help you understand that, as well as keeping up with market events regularly. Checking out the News section will help you keep up with market catalysts.
Hi Chris,
I am a newbie to forex and this site, so I hope this helps. I read Invest Diva by Kiana Danial that got me interested in forex, and led me to read Forex Demysified by by David Borman which gave me practical guide on how to start. Lots of good books out there if you are interested and I got a good librarian (Justine) who directed me to the right shelves. Both books talked a bit about market psychology, how to interrupt signs (i.e. charts and movement patterns) and what to watch out for. My next read will be Day Trading and Swing Trading the Currency Market by Kathy Lien (whose articles I read religiously from other forex sites), which talks about what moves the currency markets in long and short runs, and how to form trading strategies according to different characteristics of the major pairs. The tutorial of this site is also a great source of reference too.
Well, you can read ‘Psychology of Forex Trading’ by Rob Booker and ‘The Miracle of Discipline’ by W.R Booker & Co.
This post from a former member called Lexy should help you out: (admittedly they are all geared towards Technical Analysis)
These are the books that most helped me, and enabled me to trade profitably …
Profitability & Systematic Trading (Michael Harris)
Trade Your Way to Financial Freedom (Van K. Tharp) - an outstanding starting-point
Beyond Technical Analysis (Tushar S. Chande)
Understanding Price Action (Bob Volman)
The Mathematics of Money Management: Risk Analysis Techniques for Traders Ralph Vince (we all need some reliable understanding of what’s in this book, although not necessarily from this specific source, before trading with real money)
Naked Forex: High-Probability Techniques for Trading Without Indicators (Alex Nekritin & Walter Peters)
Daytrading (Joe Ross) (this is an updated re-issue of an earlier book - “Trading by the Minute”, I think it was called)
Trading The Ross Hook (Joe Ross) (I keep coming back to this one again and again, because it’s simple and logical and helpful, and the whole concept is based on one of the soundest principles of price action trading, namely “buy the dips in an uptrend and sell the rallies in a downtrend”)
A Mathematician Plays The Market (John Allen Paulos)
Fooled By Randomness (Nassim Nicholas Taleb - very worthwhile!)
Why People Believe Weird Things (Michael Shermer) - this book and Taleb’s, just above, are hugely helpful - albeit indirectly - for “understanding what’s going on in forums”!
Trading Price Action Trends - Technical Analysis of Price Charts Bar by Bar for the Serious Trader (Al Brooks)
Trading Price Action Trading Ranges - Technical Analysis of Price Charts Bar by Bar for the Serious Trader (Al Brooks)
Trading Price Action Reversals - Technical Analysis of Price Charts Bar by Bar for the Serious Trader (Al Brooks)
“Warning”!: Al Brooks’ set of three textbooks is kind of badly written and very badly edited (especially considering who the publisher is), and pretty difficult to plough through, but their content’s excellent, so those are a kind of “mixed recommendation”: I think his online video course is much, much better and more helpful and more approachable, but it’s also more expensive ($250, I think - but that’s still very good value, though, in my opinion, for about 37 hours of instructional videos):
I have read more than 50 trading books; but here I am mentioning only 2 names (the most effective 2 one)
Thanks a lot! 
Chris
You are always welcome! Happy learning.