The world of foreign exchange or forex is complicated and takes little time to understand. Countless traders would agree that this market takes time to master and has uncountable strategies for making profits on short term trades and long term investments. However, the high degree of volatility combined with foreign exchange’s significant dependence on international monetary exchanges makes it extremely risky to invest and trade. Hence, there are some foreign exchange books you can rely on.
To help professionals succeed in the field as well as to help them make profits from their trade, we list top 5 foreign exchange books which would provide you with a complete inside out view of the industry.
Currency Forecasting
This book written by Michael R. Rosenberg is one of the best books which teaches forex traders about currency value forecasting and how to use this prediction to make a profit in this otherwise dynamic market. Concepts such as dynamic currency forecasting, the effect of interest rates etc. have been covered in great detail soon after which the forex macroeconomics and its analysis have been explained. The best part about this book is that it retains its relevance even after 20 years of change and shift in the forex market.
A Three Dimensional Approach to Forex Trading
Written by Anna Couling, this book on foreign exchange trade explains how forex forms the centre link of all trade market. He then discusses the trade markets being dependant on each other and how by studying stock exchanges and bonds can a trader predict the future value of currencies. It is both a fundamental and technical analysis of the current forex trade industry and can be of great help to the beginners as well as experts to learn new trading strategies and make a profit out of them.
The Sensible Guide to Forex
No trader would want their portfolios devalued as the top currencies start losing their values in future. To safeguard traders against sudden losses, this foreign exchange book written by Cliff Wachtell brings forward long term investing strategies which are immune to the volatile nature of the market. The author helps traders understand how to create low maintenance and high-performance portfolios by hedging against the risk. This book overall can be read by both beginners and experts who wish to learn the trick of making a profit in the least favourable scenario.
Day Trading And Swing Trading the Currency Market
A complete guide to forex trading, this book written by Kathy Lien is meant for both new and seasoned traders. The author starts with an explanation of the forex market and how it governs other trade markets. He then dwells into basic trading strategies and finally moves on to the advanced concepts and procedures of trade. Book aside from theoretical text and examples has numerous exercises which will help the reader test their learning and skill.
Currency Trading For Dummies
As is clear from the name itself, Currency Trading for Dummies is a beginner’s guide to forex market where every concept related to market has been explained from scratch. Treating the readers as an absolute beginner, the author Kathleen Brooks makes sure to tell them about when to trade, how to trade, figuring out the risk appetite amongst other things. She further explains the readers about various kinds of risk associated with trade and how to carefully mitigate them.
So, these were our top 5 foreign exchange books for you to read right now. Do let us know what you think about the write up in the comment section below.
