Top 8+ Best Selling Forex Trading Books For 2022 (Ranked) (2023)

Forex, or foreign exchange, trading is a decentralized global market where all world currencies are traded. It is the largest and most liquid market in the world with an average daily trading volume of $6-7 trillion. There is no central exchange for forex trading. It takes place through a network of banks, brokers, and traders. In order to step into this world we collected both the top beginner and advanced books for forex trading.

Unlike the stock market, the forex market is far more volatile, which can lead to quick and significant profits for an experienced and focused trader. However, this volatility also comes with a much higher level of leverage, which can lead to large losses if a trade goes against you. For this reason, it is important to carefully research the markets before entering into any trades.

Forex trading books can be a great way to learn about the currency markets and how to trade them profitably. They can teach you about different strategies and give you insights into what makes successful traders successful. Reading one or more of these books can help you become a better trader and improve your chances of success in the forex market.

Top 8+ Best Selling Forex Trading Books For 2022 (Ranked) (1)

01 Price Action Trading Secrets: Trading Strategies, Tools, and Techniques to Help You Become a Consistently Profitable Trader, by Rayner Teo (2021)

Price action trading is a method to read the markets and make trades based on the actual price movements, as opposed to relying on indicators or other analysis. This can be a very effective way to trade, especially if you are able to develop your own price action trading strategies. There are many resources available to help you learn how to trade using price action, including books, websites, and even online courses.

One of the best ways to learn price action trading is by studying the charts and analyzing what the prices are doing. You can find patterns and clues that will help you anticipate future price movements. In this book the author want to teach you how to become a consistently profitable trader without relying on fundamentals news, trading indicators, or signal services. The four major kinds of market structure that every professional trader should know. Once you know it, you’ll be able to “catch” the market's game and learn more about how it functions.

Top 8+ Best Selling Forex Trading Books For 2022 (Ranked) (2)

02 Naked Forex: High-Probability Techniques for Trading Without Indicators, by Alex Nekritin (2012)

In the world of Forex trading, technical analysis books written for stock, futures, and option traders are the most commonly relied upon sources of information. This is likely because many Forex traders are former stock, futures, or option traders who transitioned to Forex trading. It wasn't until computers and calculators became ubiquitous that technical analysis truly came into its own as a tool for analyzing financial markets. However, long before that time technical analysis was used by some of the most successful traders in history.

Because traders using standard technical indicators concentrate on the indicators, traders using naked trading techniques concentrate on the price chart. Naked trading is a straightforward and fast way to trade, and it's particularly beneficial to traders who are looking to get experience with a trading technique that is easy to use.

Without a doubt Naked Forex is one of the best forex trading books on the market.

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Top 8+ Best Selling Forex Trading Books For 2022 (Ranked) (3)

03 Forex Trading: The Basics Explained in Simple Terms, by Jim Brown (2015)

When it comes to Forex trading, there are a lot of resources available online to help you get started. But with so many different sources, it can be difficult to determine which information is relevant and which is outdated or simply incorrect.

This book is for those of you who are just starting to consider trading Forex but don’t know where to start. It provides an overview of the basics of Forex trading and offers advice on how to get started. The goal is to give you a good foundation so that you can make informed decisions about your trading career.

Forex trading can be profitable if done correctly, but it’s important to remember that there is always risk involved. Before starting out, it’s important to do your research and understand the risks involved in order to make informed decisions about your trades.If you are looking for a beginner friendly book, this one would be your best forex book choice.

Top 8+ Best Selling Forex Trading Books For 2022 (Ranked) (4)

04 The Art of Currency Trading: A Professional's Guide to the Foreign Exchange Market, by Brent Donnelly (2019)

The Art of Currency Trading is a comprehensive guide that will teach you how to profitably trade currencies in the real world. Author Brent Donnelly has been a successful currency trader for greater than 20 years. In this book, he shares the trade secrets he has developed over the course of his career.

In this book your will find an insider's perspective on the pillars of currency trading. How macro-level issues, technical analysis, and individual investment research can be interwoven for successful investing.

Top 8+ Best Selling Forex Trading Books For 2022 (Ranked) (5)

05 The Black Book of Forex Trading, by Paul Langer (2015)

There are a lot of books on the market that offer to teach you how to trade Forex, but most of them are filled with fluff and filler content. This book is different. It includes a link to more than 80 minutes of video content, where the author will walk you through and help you easily get started with his working trading system.

This short book is an essential read for anyone who wants to learn how to trade Forex successfully. It covers a lot of practical aspects from basics to more advanced strategies, and it's all presented in a clear, easy-to-follow format.

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I have to admit Paul's book about forex trading is a really helpful resource for new traders.

Top 8+ Best Selling Forex Trading Books For 2022 (Ranked) (6)

06 Forex For Beginners, by Anna Coulling (2013)

Forex trading can be profitable if done correctly. However, it is important to learn the basics of Forex trading before diving in head first. This is where Forex For Beginners comes in.

Forex For Beginners is a comprehensive guide that will teach you everything you need to know about Forex trading. It covers topics such as what Forex is, how to trade currencies, and how to use indicators and analysis techniques to make profitable trades.

Hence the book isn't new, it provides the fundamentals of trading. Once you have read and understood Forex For Beginners, you will be ready to start trading currencies yourself.

Top 8+ Best Selling Forex Trading Books For 2022 (Ranked) (7)

07 Trading for Beginners: The 2022 Crash Course, by Ray Bears (2022)

If you are new to the world of trading, or even if you have some experience but want to learn more about options trading and forex, this book bundle is for you. It will give you a basic understanding of the concepts and best strategies for swing and day trading.

With this knowledge, you can begin to maximize your profits in the markets. The bundle includes two courses: one on options trading and one on forex. In each course, you will learn about the basics of the market, how to trade using various strategies, and how to protect your investments.

The courses are taught by experienced trader with many years of experience in these markets. The author will guide you step by step through each lesson, so that you can understand and apply what you learn quickly and easily.

Top 8+ Best Selling Forex Trading Books For 2022 (Ranked) (8)

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08 No Nonsense Forex Trading Psychology, by Patrick Victor (2020)

Finally a must read trading psychology book. In order to be a successful trader, you first and foremost need to have full understanding on your own and others psychology. Without this knowledge, you will be only a trader from the crowd. It doesn't matter what you do, if you can't control your own emotions and thought patterns, you will never be successful in trading.

The key to having full control of your psychology is to be self-aware. You need to understand how your mind works, what triggers your emotions, and how to stay rational in times of stress. The more aware you are of yourself, the easier it will be to keep your emotions under control.

Unlike most trading psychology books you will find on the subject, which is usually nothing more than theory, this book breaks down trading psychology into actionable steps that you can use to improve your own trading.

The author, an experienced trader, provides real-world examples of how to apply each step so that you can see how it works in practice. You will also learn about the common psychological traps that traders fall into and how to avoid them. This book is a must-read for anyone who wants to be an experienced trader.

Top 8+ Best Selling Forex Trading Books For 2022 (Ranked) (9)

09 Trading in the Zone, by Mark Douglas (2000)

The book Trading in the Zone provides critical information regarding trading methods that are employed by successful traders. Most traders can operate at a profit but never break their streak of profits. The consistency of a successful trader is something increasingly important mastered.

Traders don't seem to recognize that their trading issues caused by their viewpoint of the market. Mark states that understanding the market is important but in most cases it isn't the main reason why we have losses on a market. The main point of the author is that you have to be in the ‘zone' which makes the trader successful.

The critic of this book is mainly due the repetitive nature of Mark's writing. Mark needs lots of words and repeats himself over and over to make his ideas clear. However, if this sort of writing appeals to you, then you will surely enjoy his message.

Top 8+ Best Selling Forex Trading Books For 2022 (Ranked) (10)

10 Market Wizzards, by Jack D. Schwager (2012)

In the book, one of the successful stock traders personally checked the traffic of different brands shop in order to make the decision whether he should buy the stock of the brands.

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The author put several interviews with highly successful traders, like Stuart Walton or Steve Watson to share their worldview with the readers. You will get insight how these traders think about the world and the markets they are working with on daily basis.

If you are looking to learn about trading mindset this book will be a great choice for you!

Forex Trading Books: Conclusion

In conclusion, the best forex trading books are those that teach you how to trade and how to read the market. They also provide you with real-world examples so that you can apply what you learn in the book to your own trading. Finally, a good forex trading book will also be up-to-date with the latest changes in the market.

If you are interested more on other markets like bitcoin or cryptocurrencies, check our shortlist of the top crpyto books or the best trading books available.

Top 8+ Best Selling Forex Trading Books For 2022 (Ranked) (11)

Joel Stafford

My profession is online marketing and development (10+ years experience), check my latest mobile app called Upcoming. But my real passion is reading books both fiction and non-fiction. I have several favorite authors like James Redfield or Daniel Keyes. If I read a book I always want to find the best part of it, every book has it's unique value.

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FAQs

Who is the most successful forex trader? ›

5 Most Successful Traders in Forex
  • George Soros. ...
  • Bill Lipschutz. ...
  • George Van der Riet. ...
  • Andrew Krieger. ...
  • Paul Tudor.
19 Aug 2022

How do foreign traders make a living? ›

How to Make a Living Trading Foreign Exchange
  1. FOREX TRADING: The Basics Explained in Simple Terms. ...
  2. Day Trading and Swing Trading the Currency Market: Technical and Fundamental Strategies to Profit from Market Moves. ...
  3. Currency Trading For Dummies. ...
  4. Japanese Candlestick Charting Techniques.

Is forex a get rich scheme? ›

Forex trading may make you rich if you are a hedge fund with deep pockets or an unusually skilled currency trader. But for the average retail trader, rather than being an easy road to riches, forex trading can be a rocky highway to enormous losses and potential penury.

Who is the king of forex trading? ›

1. George Soros. We start out list of the best Forex traders in the world by looking at one of the most legendary figures in Forex trading history, George Soros.

What is the most powerful forex strategy? ›

Trend trading is one of the most reliable and simple forex trading strategies. As the name suggests, this type of strategy involves trading in the direction of the current price trend. In order to do so effectively, traders must first identify the overarching trend direction, duration, and strength.

Which country trades the most forex? ›

China has by far the largest foreign currency reserves with over two and a half times more than the second-largest reserve holder, Japan.

Who is the biggest player in forex? ›

  • Commercial Banks. Large commercial banks are eminently the most significant players in the forex market. ...
  • Central Banks. Central banks are often known as liquidity providers. ...
  • Governments. ...
  • Hedge Fund Managers. ...
  • Exchange-traded funds (ETFs) ...
  • Brokers. ...
  • Multinational Corporations (MNC) ...
  • Institutions.
29 Apr 2022

Who is rich in Forex trading? ›

George Soros

The trade earned him over $1 billion. He's since accumulated a net worth in the region of $8 billion, making him one of the richest forex traders of all time.

How do you master forex? ›

  1. Define Goals and Trading Style.
  2. The Broker and Trading Platform.
  3. A Consistent Methodology.
  4. Determine Entry and Exit Points.
  5. Calculate Your Expectancy.
  6. Focus and Small Losses.
  7. Positive Feedback Loops.
  8. Perform Weekend Analysis.

Which country is best for traders? ›

Here are the Best Countries to Invest In in 2022
  • United States.
  • Japan.
  • South Korea.
  • Singapore.
  • China.
  • Germany.

Is trading forex a job? ›

A career as a forex trader can be lucrative, flexible, and highly engaging. There is a steep learning curve and forex traders face high risks, leverage, and volatility.

Is forex a gamble? ›

When trading Forex, there are a lot of traders who approach this full-fledged business as if it were a gamble, and of course, this does not bode well. It may seem that Forex trading and gambling have a lot in common. In both cases, it is mainly about games with probability.

Can you make billions from forex? ›

The answer is yes. In the year 1992, a person named 'George Soros' made one billion dollars by trading in currencies.

Can I live off trading Forex? ›

Yes, it is possible to make a more than decent living with forex trading. However, in order to do that, you must become a profitable trader. Once you are making consistent profits, and are among the top forex traders, you stand the chance to become a profitable trader with your own funded trading account.

Who is the No 1 trader? ›

Damani who guided Rakesh Jhunjhunwala, the real kind of the Indian stock market. Being the wealthiest trader in India, he has a portfolio worth Rs. 202,200 crores at present.

Who is the best forex scalper in the world? ›

Top Scalping Forex Brokers

FXTM, Best all-around broker with high floating leverage and fast execution. FP Markets, ECN trading with leverage up to 1:500.. AvaTrade, Highly regulated, choice of fixed or floating spreads. BlackBull Markets, Best ECN trading environment, with scalping and hedging.

Who is no1 trader in world? ›

George Soros – the best trader in the world

His most successful trade gave earned him a profit of $1 billion in a single day.

What is the 1% rule in trading? ›

Key Takeaways. The 1% rule for day traders limits the risk on any given trade to no more than 1% of a trader's total account value. Traders can risk 1% of their account by trading either large positions with tight stop-losses or small positions with stop-losses placed far away from the entry price.

Is there a 100% winning strategy in forex? ›

Implementing a Forex Trading Strategy

There is no such thing as only profitable trades, just as no system is a 100% sure thing. Even a profitable system, say with a 65% profit-to-loss ratio, still, has 35% losing trades. Therefore, the art of profitability is in the management and execution of the trade.

What is the golden rule in forex? ›

Do not risk more than 5% of your capital per trade. Having proper risk management means to trade within your account size. A general rule of thumb is to risk not more than 5% of your capital. We cannot win 100% of all our trades as we do not have 100% control of the market.

How can I get rich fast in forex? ›

The way to make money fast in forex, is to understand the power of compound growth. For example, if you target 50% a year in your trading, you can grow an initial $20,000 account, to over a million dollars, in under 10 years. Break the norm, and gain more.

What city has the most forex traders? ›

London Is Still World's Biggest FX-Trading Hub But Grip Slipping.

What is the average forex trader salary? ›

Average Salary for a Foreign Exchange Trader

Foreign Exchange Traders in America make an average salary of $115,133 per year or $55 per hour. The top 10 percent makes over $199,000 per year, while the bottom 10 percent under $66,000 per year.

Who control the forex markets? ›

The forex market is run by a global network of banks, spread across four major forex trading centres in different time zones: London, New York, Sydney and Tokyo. Because there is no central location, you can trade forex 24 hours a day.

Who is the most successful trader ever? ›

As opposed to trading in and out every day, investors buy and hold for longer-term growth. Warren Buffett is often cited as the most successful investor of all time through his holding company, Berkshire Hathaway.

Who is the best forex analyst in the world? ›

The Best Forex Traders
  1. George Soros. Let's start our review of the best Forex traders to follow by having a look at one of the most legendary symbols of excellent fortune in Forex trading, George Soros. ...
  2. Stanley Druckenmiller. ...
  3. Bill Lipschutz. ...
  4. Andrew Kreiger. ...
  5. Paul Tudor Jones. ...
  6. Michael Marcus.
8 Nov 2022

Why do most Forex traders lose money? ›

The reason many forex traders fail is that they are undercapitalized in relation to the size of the trades they make. It is either greed or the prospect of controlling vast amounts of money with only a small amount of capital that coerces forex traders to take on such huge and fragile financial risk.

How many people succeed in Forex? ›

A well-known figure in the Forex world is that 90% of Forex retail traders do not succeed. Some publications quote failure rates as high as 95%.

Who invented Forex? ›

Its earliest beginning dates back to the Babylonian period when trading through the barter system was practiced as a means of exchange. The general conception is that Forex trading started in Amsterdam roughly 500 years ago. Beginning in Amsterdam, Forex trading then spread further throughout the whole world.

What is the easiest Forex strategy? ›

Top 8 Simple Forex Strategies
  • Trend Trading. Trend trading is one of the most common and reliable forex trading strategies. ...
  • Price Action Trading. ...
  • Range Trading. ...
  • Momentum Trading. ...
  • Carry Trading. ...
  • Swing Trading. ...
  • Breakout Trading. ...
  • Scalping Trading.
15 Feb 2022

How long does it take to master in Forex? ›

On balance, it takes an average of around one year to learn how to trade Forex, but can take anywhere from 6-24 months. The basic technical analysis elements can be learnt in a few weeks, but the risk management and psychology will take longer – around a year or longer – to grasp the more you practice trading.

How do I become a successful trader? ›

  1. Rule 1: Always Use a Trading Plan.
  2. Rule 2: Treat Trading Like a Business.
  3. Rule 3: Use Technology to Your Advantage.
  4. Rule 4: Protect Your Trading Capital.
  5. Rule 5: Become a Student of the Markets.
  6. Rule 6: Risk Only What You Can Afford to Lose.
  7. Rule 7: Develop a Methodology Based on Facts.
  8. Rule 8: Always Use a Stop Loss.

What percent of traders become successful? ›

Profitable trading is difficult and successful traders share specific rare characteristics. It is estimated that more than 80% of traders fail and quit. One key to success is to identify strategies that win more money than they lose.

Is Forex a luck or a skill? ›

It is easy to say that forex is gambling as it requires speculation or prediction of the outcomes, but not everything that involves speculation or prediction is gambling. Gambling is a luck-based game, while forex is not. Forex is a skill-based game, as it involves knowledge and skills to trade.

Is Forex a skill? ›

Being a forex trader can be a risky venture and requires a high degree of skill, discipline, and training. For non-traders, you can still get involved in the forex markets through other channels.

Can Forex become a full time job? ›

If you're looking to generate a second source of income with Forex trading, you should think again because trading is a full-time job. Managing a part-time forex trading career with your regular job is difficult, mainly because of the time management crisis you will be faced with.

What should I study for forex trading? ›

Course Structure
  • Understanding short term trading.
  • Trend analysis.
  • Price analysis.
  • Pattern analysis.
  • Techniques for buying and selling.
  • Combining techniques to increase profits.

Is there any book on forex trading? ›

The Black Book of Forex Trading - Paul Langer

Included in the book are aspects to do with combating struggling markets, making profits consistently, ensuring you trade within boundaries, tactics for being successful in a matter of four months and other strategies to make you near-pro level at trading.

What is the best way to study forex? ›

Tips for Forex Trading Beginners
  1. Know the Markets. We cannot overstate the importance of educating yourself on the forex market. ...
  2. Make a Plan and Stick to It. ...
  3. Practice. ...
  4. Forecast the “Weather Conditions” of the Market. ...
  5. Know Your Limits. ...
  6. Know Where to Stop Along the Way. ...
  7. Check Your Emotions at the Door. ...
  8. Keep It Slow and Steady.

Can I teach myself forex? ›

If you have the requisite knowledge and experience, as well as the patience and discipline to learn from your mistakes, you could be a good fit for Forex trading. However, if you don't have the time nor inclination to commit to a rigorous learning process, Forex trading can turn into a loss-making nightmare.

What are the 7 majors in forex? ›

7 major forex pairs
  • The euro and US dollar: EUR/USD.
  • The US dollar and Japanese yen: USD/JPY.
  • The British pound sterling and US dollar: GBP/USD.
  • The US dollar and Swiss franc: USD/CHF.
  • The Australian dollar and US dollar: AUD/USD.
  • The US dollar and Canadian dollar: USD/CAD.
  • The New Zealand dollar and US dollar: NZD/USD.

How long should I study forex? ›

On balance, it takes an average of around one year to learn how to trade Forex, but can take anywhere from 6-24 months. The basic technical analysis elements can be learnt in a few weeks, but the risk management and psychology will take longer – around a year or longer – to grasp the more you practice trading.

Who is the best forex mentor? ›

Our top picks for the best forex educators to follow in 2022 include Clay Hodges, Chris Hunter, Roman Patterson, Matthew Todd, Tamia BJ, Nick Syiek, Ezekiel Chew, Andrew Mitchem, Marc Walton, and Vladimir Ribakov. Any of these mentors are worth following as a newbie forex trader.

What is a forex trader salary? ›

Average Salary for a Foreign Exchange Trader

Foreign Exchange Traders in America make an average salary of $115,133 per year or $55 per hour. The top 10 percent makes over $199,000 per year, while the bottom 10 percent under $66,000 per year.

How much does the average forex trader make a year? ›

The annual salary of a forex trader is broad. For the top traders, annual salaries amount to over $150,000, yet the lowest salaries can be around $11,500. According to Indeed, the average salary of a forex trader is $98,652 per year plus $25,000 in commissions.

Is forex a luck or a skill? ›

It is easy to say that forex is gambling as it requires speculation or prediction of the outcomes, but not everything that involves speculation or prediction is gambling. Gambling is a luck-based game, while forex is not. Forex is a skill-based game, as it involves knowledge and skills to trade.

What is the first thing to learn in forex trading? ›

1. Know Your Markets. One of the most effective ways to avoid losses in trading is education of the Forex market. Taking the time to educate yourself on the currency pairs and what moves their prices before you risk your funds may save you from making simple mistakes that could cost you more than you can afford to lose ...

Why is it so hard to learn forex? ›

Why is Trading Forex Hard? The Forex market is said to be hard because it is the most liquid market in the world and billions of people and entities intervene in it. Governments, politics, the weather, public health, corporate expansion or bankruptcy, the prices of foodstuff, everything influences the Forex market.

Is it hard to be successful in forex? ›

A well-known figure in the Forex world is that 90% of Forex retail traders do not succeed. Some publications quote failure rates as high as 95%. Regardless of the actual number, having interacted with thousands of traders over the years, I can tell you that those figures aren't far off.

Do you have to be clever to trade forex? ›

Alertness and decisiveness are both fundamental ingredients in the recipe for a successful forex trader, and the ability to apply these skills to pressured situations while remaining emotionally and strategically rational will certainly be of benefit in testing situations where things don't quite go your own way.

How much can a beginner forex trader make a day? ›

In 2022, a successful novice can earn around $100 a day at Forex, provided that: his deposit is at least $200, he trades using the EUR/USD currency pair, with leverage of 1:100, and uses a successfully aggressive strategy. The larger your deposit is, the larger your profit will be.

How do I become a pro forex trader? ›

How to become a forex trader
  1. Practice trading. Set up a demo account that lets you practice forex trading with virtual money. ...
  2. Set realistic goals. ...
  3. Earn a degree. ...
  4. Trade specific currency pairs. ...
  5. Use an automated trading program. ...
  6. Seek professional advice. ...
  7. Use quality trading platforms. ...
  8. Keep practicing.

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