The best forex books to boost your trading performance

By Carl Paraskevas - Chief Economist

A good forex trading book can dramatically improve your trading. Here is review of my recent favourite books.

#1: The Art of Currency Trading: A Professional's Guide

The Art of Currency Trading: A Professional’s Guide to the Foreign Exchange Market by Brent Donnelly tops my review list. This book covers off everything you need to know about forex. What I like most is this book doesn’t box you into a single system. You get the tools to build your own. How to trade cross-asset correlations, global economic releases, and technical patters are some of my favourite sections.

The book, however, literally has something for everyone. You will find yourself referencing the book regularly as you pursue new angles in your trading. In addition, it provides insight into the world’s biggest trading institutions. Donnelly, who has an impressive resume, currently works as a Senior Forex Trader at HSBC and has held similar positions prior at Citi and HSBC, and as hedge fund portfolio manager. If you are looking for an all encompassing book, this is the one.

#2: Trade the Price Action - Forex Trading System

Laurentiu Damir impresses with Trade the Price Action - Forex Trading System by teaching the the building blocks of forex technical analysis through a single strategy setup. Basic market structure, trend spotting and Fibonacci retracements are all covered. Beginners and indicator centric traders with poor understanding of price action have the most to learn, as do those who are really struggling to remain profitable.

Take or leave the strategy Damir outlines, but certainly keep the ordering and thought process behind his analysis. This book leaves you thinking about forex trading like a proper price action trader. That's not an easy feat for such a short book. Don't expect florid language with this brief read, but it makes my review because it's perfect for those who learn best through practise. After reading this book, I suggest Damir's others, which complement Trade the Price action and follower a similar hands on approach.

#3: Accelerating Excellence: The Principles that Drive Elite Performance

Trading isn't all about technicals, fundamentals, systems and setups. Performance and psychology play an important role in becoming a consistently successful trader. That's why I've added Accelerating Excellence: The Principles that Drive Elite Performance by James A. King to this forex book review. King rightly points out that we only see the tip of the ice berg when it comes to successful people.

What makes King's book stand out from the rest is the practical steps. He breaks down performance into four separate sections: self-concordance, skill acquisition, emotional control, and continuous improvement. Up until recently, King was Performance Director at London-based commodity trading firm Mandara Capital, making Accelerating Excellence perfectly pitched to traders.

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