Today I have prepared a list of the most important books for each trader. I will start my review with the books, which help successful trading, from those designed for the beginners and to the books written for the skilful traders.
1) “How to play and win at the exchange” - А. Helder
This book will be helpful both for the beginners in the Forex market and for the professional traders. The book by Alexander Helder addresses the issues related to the general tendency and development in trading and also covers basic mechanisms and instruments of the effective trading.
The advantages of this book are obvious because:
- The book is based on the personal experience and mistakes of the author in the course of his trading activity over the years, which finally helped his achieve success.
- The book has been a best seller for years.
2) “Reminiscences of a Stock Operator” - E. Lefevre.
This book is a life story of a famous trader of 20-ties Jesse Livermor. It covers a long way he had done from a beginner to a professional. Along with the book “How to play and win at the exchange” by Alexander Helder, this book is a “bible” of a trader.
The advantages of this book are similar to the above book:
- The author goes into details of the mistakes made by Jesse throughout his long career as a trader.
- The book is a “bible” of a trader. Intended for a general public
3) “The daily Trading Coach” and “The Psychology of Trading, Enhancing Trader Performance - B.Steenbarger
Trading, trading and nothing but trading! These books will give you detailed answers to all your questions about trading. These books will help you develop your own trading methods and improve your trading strategy. Brett Steenbarger encourages you to search objective laws and consistent patterns in the market.
- The books cover the issues of trading psychology and self-control.
- The books have been used by many generations of traders, who found them very helpful
4) “Trading in the Zone” – Mark Gouglas
The book describes the problems a trader can face while working in the financial markets. “Trading in the Zone” shows that buying and selling in the financial market could be a complex operation, giving unexpected result. The book does not give particular advice, or recommendations on specific trading techniques; it teaches us how we should think and view in order to become a professional trader.
- The book does not force the ideas on how to trade;
- It is a helpful manual showing the ways in the situation when“.
5) “Trend following trading”- Мichael Covel
Michael Covel has provided us with the “essential and required reading” instructing traders to identify trend movement and the right timing for entering and exit the market. The author gives detailed description of all necessary instruments and gives recommendations regarding use of the latter. The book will be useful for the beginners and professional traders.
- Tips and best practices from a professional trader;
- The book has been appreciated by a great number of readers.
The list I have prepared can be continued as new books on this subject appear all the time. However, I listed the books, which constitute a “central spine” of the literature devoted to trading. You can download the books devoted to Forex trade in the free Internet.
What books devoted to trading have you read? Please feel free to give your comments
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The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.