Top 5 Forex Trading Books

If you are thinking of venturing into the Forex market, the best way to learn to trade is to read some relevant books. You get all kinds of subjects covered in Forex trading books. This article will review the top five best-selling Forex trading books to date. All five are highly recommended by expert traders, who have made fortunes in this business.

Forex Trading Using Inter-market Analysis

This book explains the general dynamics of the exchange market, which is considered to be the world’s largest and the most widely traded financial market. It also provides information on the application of inter-market analysis to the Forex market. This book equips you with the knowledge that will help you understand and anticipate the changes in the trends and directions, and take actions accordingly. You will learn the influences that other markets have on the Forex market. It also lays emphasis on how all the various financial markets have become interconnected, and how they affect each other in today’s global economy.

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Profitable Forex Trading

Day Trading the Currency Market

 

This book has the distinction of having been recommended by few of the top most traders of the Forex market. It is known for its

Technical Trading Update Jan 20 2011


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The Daily Trader update provides technical analysis of major currency pairs and forex market conditions at the time of the post. The support and resistance levels posted and current market price could be dramatically different from what you are seeing at the moment.

EUR/USD – Current 1.3470

Overview – Break of the daily trend line this week has given rise to test 1.3500. So far unable to break resistance at 1.3485 but holding above previous resistance at 1.3415. More upside expected on break of 1.3500 otherwise a fall below 1.3400 could see a move back to 1.3200.

Resistance – 1.3485 / 1.3580 / 1.3693 / 1.3743 / 1.3797

Support – 1.3413 / 1.3279 / 1.3185 / 1.3075 / 1.2986  /1.2890 / 1.2810 / 1.2750

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GBP/USD – Current 1.5930

Overview – Fall from 1.6050 gave nice profit

Forex Trading Times – The Market Never Sleeps

No exaggeration meant; the Forex trading market actually never sleeps. It is a 24 hour market, and the currencies can be traded at any and every time. However, it would not be wrong to say that there are certain times during the day, which are better to trade the Forex. Timing indeed is crucial in the Forex market, as selecting the best time for currency trading is a good way to maximize potential profits from each trade. It is one secret that expert traders are well aware of!

Identify the Power Hours

Trust me; these power hours are no different from a power house that could light the entire place.

The Best Forex Trading techniques for Beginners

For anyone who is just starting forex trading, it is important that he or she conducts adequate research  prior to entering the market. It is a known fact that there are no rights or wrongs in the forex market, hence one cannot boast about mastering the best Forex trading techniques. A beginner needs to develop his own unique strategy to approach trading dynamics in the market. This approach should be in synchronization with your Forex trading behavior and your personality. It is also safe to say that the best forex trading techniques are developed over time with experience, as a trader does not learn about the ups and downs of this business unless he is a part of it. But there are a few things that new Forex traders should know which are being highlighted in this article.

Macroeconomic overview

Researching about the macroeconomic trends of the country helps a great deal in developing a good Forex

Daily Trader Outlook

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EUR/USD – Current 1.3315

4 hour View – Major resistance at 1.3410 area. A break heads back to 1.3500. 4 hour trend has been up but seeing some downside pressure.

Resistance – 1.3360 / 1.3385 / 1.3410 / 1.3470 / 1.3500

Support – 1.3341 / 1.3322 / 1.3303 / 1.3282 / 1.3264

Intraday Opportunities – Next leg lower begins with a break of 1.3300. Above 1.3350 could challenge 1.3385 and 1.3400

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GBP/USD – Current 1.5480

4 hour View – Bears took over after market open on Sunday however