Most of the experts and experts of forex trading started their careers with training.
To date, due to the rapid development of information technology and network progress in general, there is a huge amount of literature, sources, and training resources.
On the Internet you can easily teach articles, video lessons, and webinars, you can enroll in group classes and courses.
But it is with books that it is worth starting to get acquainted with the financial market, because it is the literature that has the most positive effect on the player, during his training.
After all, each source of forex literature is a storehouse of knowledge, and each book on stock trading is an effective resource by which you can learn the market more closely and highlight significant moments from the abundance of information and data.
As a rule, the effectiveness of one or another method of training can be judged from the real recommendations of market experts who sought to move all valuable knowledge and practical experience into a book.
So, a compulsory program for the beginners-a book on forex trading without which you can not do without:
1. book number one, which every currency exchange novice is obligated to get acquainted with is the work of the experts Reuters, which directly relates to the technical analysis of the market «Technical Analysis, Course for Beginners». In this paper, we consider all the basics of the market - the basis that is necessary for acquaintance with the internal mechanism of the market and the study of more global things.
Having mastered this manual, players can proceed to study more professional literary works.
The book details the types of graphs - varieties and methods of using the main chart models, options for working with them and also touches on such an important aspect as signals to enter the exchange.
The book written by analysts is fully focused on the consideration of the technical analysis methodology and it discusses in detail a number of the most commonly used indicators, the theme of the cycle of the market is touched upon, and even some aspects of wave analysis are mentioned (Eliot theory).
The book is easy to read and accessible for understanding: it is through such ease and good perception that it will be an ideal choice for any beginner.
After reading it, the trader will be able to form his own idea about the technical analysis of the market, he will be able to master the creation of lines, will understand with the construction of levels and other figures of graphical analysis.
2. The next book, which is definitely worth the attention of the exchange player is «Technical Analysis», authored by Jack Schwager.
In this paper, the emphasis is on the practical side of the question: how to use the methods of technical analysis most effectively.
After reading this book, you can discover a variety of imaginary figures, find out what false sprouts of trend lines are, understand the rules for setting stop orders, and get acquainted with the basic methods of mani-management.
The author pays special attention to graphic models of technical analysis: each of the variations is demonstrated on real samples - how the figures themselves work out how to detect entry points.
The book gives an idea of widely used graphic models, which predict a market turn or contribute to the confirmation of the direction of price movement.
Also in the literary work, Jack Schwager considers the ready tactics of trading, touches on the issue of optimization, time intervals for testing, and the format of fitting the system to market requirements.
With the help of the book, you can study technical analysis in-depth, discovering a number of key factors that directly affect the behavior of the asset's value.
3. «Fundamental analysis of world currency markets» (author Lihovidov).
Technical analysis is an integral part of market activity.
But it is impossible to neglect the fundamental method: especially if you plan to become a professional.
This book examines in detail the world's leading currencies, explains what is the exchange rate, and the author addresses the issue related to macroeconomics - indicators and data.
In addition, the interest rates and indices of the Central Bank, inflation indicators, and methods for calculating them are described.
The main purpose of the book is to cover the fundamental analysis of the markets and provide the beginners with detailed instruction on trade - how to start trading, reacting to the exit of important (and not only) events, and economic data.
4. In many ways, the success of a trader depends on the knowledge of psychology, as well as on the understanding of the market as a whole.
The psychological aspect is really extremely important: a successful player can and knows how to cope with the pressure of the market.
The book, which takes the fourth line - «Psychology of Finance» Lars Tweed.
With the help of this book you will better know what emotions are inherent in all traders, and also learn the behavior of the crowd (from the point of view of psychology), and discover the forecasting of future price behavior.
5. M.Weiss's book «Make money during a period of panic in the market» demonstrates to the player the «kitchen» of brokerage firms: the work details the criteria for selecting shares and securities for investments.
Perfectly suitable for both traders and investors, who only make their first steps on Forex.
Despite the importance of books, reading the literature is better combined with other teaching methods, and then consolidating the knowledge gained in practice!
