Forex books.
This section contains books and textbooks on trading in the Forex and stock markets. Each of the books presented is available for free download directly from the site server. All materials presented are distributed absolutely free of charge and are intended for independent reading only.
Forex books were obtained from open sources on the Internet, thanks to them you can independently master trading on the currency exchange without resorting to outside help.
Trading with Dr. Elder. Encyclopedia of stock trading.
A textbook on stock trading, written by a trader with an interesting life. Alexander Elder is a ship's doctor, psychiatrist and, as a result, one of the most famous traders.
It is difficult to find a person familiar with the stock exchange who did not know Elder’s name; his works served as teaching aids for more than one generation of novice investors.
Experience as a psychologist will allow the author to thoroughly study the behavior of the crowd in the market and create several fairly well-known trading strategies.
The main sections of the book are:
1. Trading for beginners - will allow you to determine what tasks and goals you are pursuing when starting stock trading (Trader, Investor, Player). Which market is the most attractive? What is needed for successful work – technical and organizational aspects.
Principles of professional speculation. Sperandeo V.
A textbook by one of the fairly well-known analysts, who among traders has not heard of the Sperandeo Method, on the basis of which hundreds of strategies have been created and which has been used in trading for many years.
The author independently trades on the stock exchange, skillfully combining technical and fundamental options for market analysis.
Sperandeo managed to achieve unprecedented success in stock trading, the average profitability of his transactions reached 70%, and this is an excellent result for independent trading.
The most valuable quality of “Principles of Stock Speculation” is that the textbook was written relatively recently, in 2000, and it describes modern approaches to assessing the market situation.
Highlights of the book:
1. Fundamental factors of the economy - this section is devoted to the theoretical foundations of the study of macroeconomics. From this section you will learn a lot of interesting things - on the basis of which the market is predicted, the impact of politics on the country's economy, financial management.
The practice of stock speculation. Niederhoffer W., Kenner L.
The authors of the book are trader-manager Victor Niederhoffer , who is widely known in the world of finance, and Kenner Laurel, an outstanding analyst.
This symbiosis allows us to hope that the book “The Practice of Stock Speculation” is not only a theoretical guide, but also has practical value.
There are a huge number of books that talk about the simplicity of stock trading, the textbook refutes this statement, it teaches how to organize the trading process.
In fact, this is a set of tips and recommendations that allow you to prevent most mistakes.
1. Mum-Jumbo and Moonlight – a general idea of the market and a description of the situation that existed at the time of writing. Statistics on changes in stock prices over recent decades.
Jesse Livermore. The Life and Death of the Greatest Stock Speculator - R. Smitten
A detailed account of the life and career of one of the greatest traders of our time Jesse Livermore, an ambiguous approach to stock trading, and a sad end.
He was called a Wall Street legend, and the strategy developed by Jesse is still successfully used by some traders.
The book describes not only the technical aspects of stock trading, but talks about the personal life of a trader, the story is told in an easy-to-read form.
Summary of the book:
1. The Great Wall Street Speculator - the office of a stock exchange tycoon, his working day and the essence of organizing the trading process.
How I play and win on the stock exchange. Gary Smith.
Most books about stock trading are written by traders who have worked on real stock exchanges. This is, so to speak, work in an office, which is radically different from independent trading on a home computer.
How I play and win on the stock exchange - a work written by Gary Smith, is radically different from other similar publications, because Gary was a home trader, not an office worker.
Therefore, this material will be much clearer to a newcomer to the stock exchange than other similar publications; there are no complex mathematical calculations and formulas, only practical tips and recommendations.
In order to understand whether such a textbook is right for you, read its summary:
1. The first few chapters will tell you what a typical trader's day is like and dispel hopes of easy money from stock trading.
2. The next section is devoted to working with futures, this is a rather interesting trader’s tool, which we, undeservedly, pay little attention to.
“Everything is for sale” M. Ridpath.
There are not many fiction books about trading, and those that are on sale in most cases leave much to be desired.
“Everything is for Sale” by M. Ridpath - a book about trading securities written in a professional style, it will allow you to learn the stock market from the inside. And the artistic writing style will make reading not only useful, but exciting.
The book is based on the story of a trader working in a small investment company that deals investing in stocks and bonds.
It shows, so to speak, the ins and outs of trading on the stock market; here, not everything always comes down to technical analysis; in most cases, transactions are made on the basis of insider information, rumors and gossip.
Common stocks and extraordinary returns. Philip A. Fisher.
If you are interested in the stock market, then it is best to start mastering it with theory, and the best book on the stock market can be called the work of Philip Fisher.
Ordinary Stocks and Extraordinary Income is a book that will not only help you learn the theoretical foundations of stock trading, but will also reveal some of the practical secrets of this type of activity.
Its author is not just a theoretical analyst, but a former owner and manager of a large inversion fund with billions of dollars in turnover.
Philip Fisher was one of the first to use non-standard approaches to valuing shares; he determined the actual value of the asset, rather than relying on a biased market indicator.
The main sections of the book are:
1. Ordinary shares and extraordinary income - the section contains the basics, thanks to which you can choose the most suitable investment object. The main theses of this part can be called what to choose, when to buy and when to sell.
Japanese candlesticks: graphical analysis of financial markets. Neeson Steve.
The author of the book is a professional analyst, and his analysis is based exclusively on Japanese candlesticks; his experience in reputable companies only confirms the analyst’s reputation.
Most traders emphasize the effectiveness of Steve Nison ; it is not for nothing that his book has gained high popularity among those who use technical analysis in their trading.
In order to understand whether this textbook is suitable for you or not, it would be a good idea to familiarize yourself with its main chapters.
1. Introduction - why Japanese candlesticks attract the attention of most stock traders.
History of the development of analysis based on them. 2. Basics - what candles are, their definition and structure.
Bullish and Bearish candles as an indicator of the direction of the trend. 3. Models – models of trend reversal and continuation, help determine how strong the existing trend is and choose the direction of the transaction, finding them on the chart of the currency pair.
Fooled by chance. (Nassim Nicholas Taleb)
Most stock traders are chasing the creation of complex trading systems, although according to the author of the book, the success of stock trading in most cases depends on chance.
The author of the book, Nassim Nicholas Taleb, is a famous financier who was not only able to make a successful career and earn a fortune, but also became a writer who imparts knowledge to novice traders.
The very unusual opinion about stock trading on the basis of which this book was written is interesting; its main advantage is its accessibility for the general reader.
From the brief description of the chapters it becomes clear what this book is about.
1. Chapter 1 - Reasoning on why the richest is not always the smartest, using the example of two traders with different levels of earnings.
2. Chapter 2 - Construction of alternative lines of development of events and why a simple approach to solving a problem is not always correct.
3. Chapter 3 - Mathematical modeling in relation to stock trading. Estimation of forecast probability in the long and short term.
John Murphy. Virtual investor, how to identify trends.
This book is the best purchase for a potential investor; in addition to independent investing,
the issues of the functioning of investment funds are also widely discussed.
The textbook is intended for traders working in the stock markets, but with proper skill, some of the technical points can be successfully applied when working on the Forex market.
In addition to the main part, the textbook contains additional information on working with Japanese candlesticks , measuring market width and working with graphic and computer programs.
The virtual investor is built on the following principle:
Mark Douglas "The Disciplined Trader"
Many beginners are greatly mistaken in thinking that the main thing in Forex trading is to find a trading strategy; according to
Mark Douglas, when achieving success, only 20% relates to the trading methodology, and the remaining 80% to compliance with the plan and rules.
Discipline is the main component of stock trading; failure to adhere to discipline always leads to disastrous results.
It is for this reason that there are so many loss of deposits among novice traders. The book "The Disciplined Trader" reveals the psychological aspects of trading on the stock exchange; here you will not find a description of strategies and tactics.
Summary of the book.
Axioms of a stock speculator, Max Gunter.
An axiom in itself is an indisputable rule that should not be proven; this book is built on this principle;
its author tried to explain the basic principles of trading in an accessible form.
The book contains 12 basic axioms, which are described in the chapters of the same name. It should be noted that these are not just recommendations, but also a warning to the use of tactics and strategies that do not always work.
What axioms will you get acquainted with in this textbook:
1. About risk - as the title suggests, the article is devoted to risk regulation in stock trading, this important point is always put in first place.
2. About greed - a warning to impatient traders who are in a hurry to make a profit no matter what.
Van Tharp "Super Trader" How to make money on the stock exchange in any conditions.”
If you want to learn trading by reading just one book, then this textbook is just your choice, since it combines
almost all aspects of working on the stock exchange, from theory and psychological foundations to a description of the practical aspects of trading.
It will help the reader create the right psychological mood for trading, determine goals and objectives, and also draw up a work plan.
And this is already half the way you need to go to achieve your goal. It should be noted that the book will be of more interest to novice traders, since here you will not find descriptions of specific strategies ; it mainly describes the basic principles of organizing exchange trading.
Contents of the chapters.
B. Sito Psychology of electronic trading.
The main component of any trader’s preparation is psychology, and in the case of electronic trading, the importance
of this aspect increases significantly.
The purpose of the book is to prepare a beginner for electronic trading and the trials that may befall a trader.
In addition to purely psychological aspects, the book also reveals some technical aspects of organizing electronic trading.
Summary of chapters:
L. Borsellino. Day Trading Tutorial.
Trading on the stock exchange has many directions, one of the most interesting is the use of futures as an object of trading
. This option is especially attractive for novice traders, since trading contracts for specific goods is easier than playing on changes in the exchange rate.
The author of the book Day Trading Textbook, L. Borsellino, set out to teach readers how to trade futures and stocks while minimizing the risk of trading.
Moreover, the above strategies are designed for intraday trading, which allows you to get maximum profit due to large leverage.
The textbook was written by a trader with extensive experience in trading on a real exchange platform; the author shares his experience and conclusions, giving invaluable recommendations on exchange trading.
M. Weiss "Make money during a panic on the stock market."
Most people believe that during a crisis you can only lose money, but not the head of one of the investment
companies, Dr. Martin D. Weiss.
In his opinion, you can make good money from falling prices of shares and other assets; the textbook is a practical guide to action in crisis situations.
It contains several of the most effective approaches that will allow you to distinguish profitable assets from fake ones and make a truly effective investment.
The book is written in an artistic style, which makes it easier to understand. Main chapters of the book.
1. Broker's secret goal - what brokers usually offer to their clients.