the Candle analysis this one is one of my fav
Hi all, thought I’d stop by this thread and add to it some more books (though may be mentioned somewhere on the forums).
My dealer recommended me the following books:
Beat the Forex Dealer, by Agustin Silvani
Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications by John Murphy
FX Trading : An Australian Guide To Trading Foreign Exchange
I’ve just read:
The Fearful Rise of Markets by John Authers, on global bubbles and meltdowns. Very clear, informative and…scary, in fact!
and
Adventures of a Currency Trader by Rob Booker - a “fable” as the author puts it, on learning to trade. Psychology, behaviour, testing and MM. Very entertaining as well as informative and sobering.
My favorite books are Trading in the Zone- Mark Douglas
And-
Come into my Trading Room- By Dr. Alexander Elder.
This book is aimed at stock trading. But the bits about trading psychology discipline and genral trading info, are second to none. definnatley worth the read.
Besides the ones already mentioned, a video seminar made a great difference for me: “The Three Biggest Mistakes Traders Make” based on the book “What I Learned Losing a Million Dollars”… a real life experience. I don’t trade for a living but I watched this video many times. I’ve been on a demo for almost four years. I don’t have the confidence neither the consistency to start a live account yet. My mind set at least changed from looking for winners to watching the loosing trades and cutting them early, because that will make the difference at the end. I’m still having mental issues doing that, but improving. And this is a great place to be…thanks guys…
Below is a short review of the trading books I have read.
I have written a review of these books on my blog: fxintradayjim.wordpress.com Hope it’s useful!
- Trading in the Zone : Mark Douglas
Rated : 9/10
- Day Trading and Swing Trading the Currency Markets : Kathy Lien :
Rated : 8/10
- New Market Wizards : Jack D. Schwager
Rated : 7/10
- Forex Patterns and Probabilities : Ed Ponsi
Rated : 1/10
- Adventures of a Currency Trader : Rob Booker
Rated : 9/10
- The Disciplined Trader : Mark Douglas
Rated : 6/10
Trading In The Zone was alright, but I definitely felt like it could have been shorter and more to the point. Definitely a different way to look at yourself and the market, which is always a good thing but yeah…he said the same thing many times when he only had to say it twice. Great suggestions on here though!
I was also reading Brett Steenbarger books. the ideas described there can be applied not only for trading, but for many other types of activities. So thanks to this genial author. On the other hand - I think that forex consists of practice for 90% and what about reading books - it is useful just when you have no access to online forex resources such like forums, journals etc.
Are there any free ebooks that I can get that are any good? I am going through the babypips school right now, but would also like to get some other good materials to learn other methods to be able to better come up with my own. I am willing to spend the money on books, however I only have so much extra capital to put into forex and that is where the money for the books would come from… I would rather not dip into it unless I have too.
Good day Pipcrawler,
Below is an article I read about The 4 Week Rule. I don’t quite understand. can you please explain with example.
Thank you,
[I][B]’'The automated forex trading strategy we will look at here is free and has been used by savvy traders around the world for over 25 years and made millions! Let’s take a look at it and how you can use it in your forex trading strategy for big gains…
This automated system is free but will beat most of the ones you see sold online because - it’s proven in real time trading and most are not.
Most forex trading robots produce a back test simulation, knowing the closing prices and that’s not real money. Anyone can make money with all the closing prices but you don’t know them when you trade for real!
The one we are going to look at here has made millions of real dollars - it’s proven.
So lets look at the system which was devised by one of the great traders Richard Donchian who is considered the grandfather of modern trend following. While he has passed away now, he has left a lot of valuable information, for traders to use, including this great simple system.
Ok let’s look at it. All you have to do is remember one simple rule and here it is:
Buy a new 4 week breakout to new calendar high and reverse to a short position on a 4 week low. Keep reversing, as new 4 week highs and lows, are triggered and always keep a position in the market.[/B][/I]
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Not 100% aimed at trading but I found it to be good “mental arithmetic” and brainteasers:
“Quantitative Questions For Wall Street Interviews”, by Timothy F. Crack (MIT, Barclays and others)
I found “Smart Trading Plans” by Justine Pollard very helpful. It is not FOREX specific but a great way to get a trading plan started.
Blue skies
First post 
I started dabbling in FOREX a bit after years of working in real estate investment…so I’m not a complete noob when it comes to economics and finance. Having said that, I just bought what I guess is a beginner’s book, “The FX Bootcamp Guide to Strategic and Tactical Forex Trading” by Wayne McDonell. Only on chapter 4, but I like that he stresses how important it is to have a PLAN, and not just randomly enter trades because your “gut tells you so”.
Found Babypips last week, loving it, great resource and the community seems to be great too 
Yes To Finacial Freedom by Van K. Tharp. This is a book about self discovery and developing a system that works with your style. It also examines risk and money management.
Someone , have filesonic link to the book’s.
Thanks for the tips. I will certainly read some of them. Looking forward to more recommendations.
Are you day trading?
What do you trade generally?
Is it giving some positive results?
I am interested in reading The Art of War by Sun Tzu, though there are so many versions of it I’m not too sure which to read.
Thank You people!
Sounds good, thanks for advice.
Sounds good, will try to read. Thanks.