The BEST Way to Get Started in Forex and Technical Analysis.
In my journey to learn how to become a successful Forex Trader I turned to books. I have read over 100 books and I have studied many many trading methods including software systems, forum gurus, etc.
Below are the books which I think matter and can get you on the road to a fast start in Forex.
What is my theory and how did I decide?
The main criteria came from Constance Brown who says that a trader must have at least three non-correlated methods to trade the markets. Having three methods that come from different directions will increase you probability of success. Secondly, several of these books are written by Constance. The reason for that is they integrate well, on author saying some of the same things, rather than many authors saying different things.
Is Constance right in her way of thinking?
I had read nearly 100 books before I came across what she had written. She is one of the Instructors for becoming a CMT. What she says allows you to develop your own trading method but with a understanding of how things really work. For example, you will not read in any book that I came across her understanding of how the market actually uses Fibonacci Ratios.
I have sought out the authors that know the most about their particular topic. For example, Robert Prechter and The Elliott Wave Principle. You do not have to be an Elliottician to trade the markets but you should have an understanding of how they interpret the market and what it will do.
I have also listed a number of books that you may want to page through at your local bookstore or order for that matter as they will give you insights after you have read through the Basic Course.
Happy Reading, Will
THE BEST BOOKS
Trade Your Way To Financial Freedom, Van K. Tharp
This book will give you a great understanding of how to trade any market successfully. It will give you great understanding of Risk Management which is crucial to surviving in this business.
Getting Started in Currency Trading, Michael Archer and Jim Bickford
Technical Analysis DeMystified, Constance Brown
All About Technical Analysis - The Easy Way To Get Started, Constance Brown
At this point if you are new to trading you would be ready to learn about RSI.
Fibonacci Analysis, Constance Brown
Breakthroughs in Technical Analysis, Constance Brown
Elliott Wave Principle, Frost and Prechter
ADDITIONAL VALUABLE READING
Day Trading the Currency Market, Kathy Lien
An excellent overall book that covers the Foreign Exchange market and could be consider as a good introduction to the currency market in place of
Getting Started in Currency Trading: Winning in Today’s Hottest Marketplace (Getting Started In…..).
Profiting with Forex, John Jagerson and Wade Hansen
This book will give you an excellent understanding of how the currencies work in particular the fundamental side.