Forex trading is a profitable venture that involves the exchange of one currency for another, capitalizing on fluctuations in exchange rates. It is a complex and risky endeavor that requires a solid understanding of the market, quick reflexes to respond to market changes in real-time, and managing risk effectively.
Learning from experts who have navigated this complex and rewarding field could be a game-changer for those looking to venture into Forex trading. Thus, the following list of Forex trading books offers a wealth of wisdom and strategic insights for Filipino traders.
Best Forex Trading Books in the Philippines in 2023 — Comparison Table
| Book Title | Author | Focus Area | Target Audience | Strengths | Weaknesses |
|---|---|---|---|---|---|
| Infinite Trading | Traders Den | General Trading | Intermediate Traders | Comprehensive guide, practical strategies catered to Filipinos | May be too advanced for beginners |
| Forex For Beginners | Anna Coulling | Forex Trading | Beginners | Easy to understand, solid introduction | Lacks depth for advanced traders |
| Day Trading and Swing Trading the Currency Market | Kathy Lien | Day and Swing Trading | Intermediate Traders | Detailed strategies, real-world examples | Requires basic knowledge of forex |
| Currency Trading For Dummies | Brian Dolan | Currency Trading | Beginners | Simplified concepts, broad overview | Not for advanced strategies |
| The Little Book of Currency Trading | Kathy Lien | Currency Trading | Intermediate Traders | Compact, insightful | May not cover all aspects in detail |
| Market Wizards | Jack D. Schwager | Trading Psychology | All Levels | Inspiring interviews, timeless advice | Not a how-to guide |
| A Beginner’s Guide to Forex Trading | Matthew Driver | Forex Trading | Beginners | Clear beginner guide, step-by-step approach | Limited advanced content |
| Beat the Forex Dealer | Agustin Silvani | Forex Trading Strategies | Advanced Traders | Unconventional wisdom, insider’s perspective | May be complex for beginners |
| The Sensible Guide to Forex | Cliff Wachtel | Safe and Sustainable Trading | All Levels | Risk management focus, sustainable strategies | Less emphasis on profit maximization |
| Forex Trading: The Basics Explained in Simple Terms | Jim Brown | Forex Trading Basics | Beginners | Easy to digest, practical tips | Not comprehensive for all trading aspects |
10 Best Forex Trading Books in the Philippines in 2023
1. Infinite Trading Book by Traders Den
“Infinite Trading” by Traders Den is the fourth installment in the popular “I Dare You to Trade” series. The book stands out with its unique, advanced concepts that transcend traditional charting methodologies.
It offers readers an in-depth look at the author’s personal trading strategy, often referred to as her “bread and butter.” The book is well-regarded for its advanced price action techniques, making it a valuable resource for those seeking to elevate their trading skills.
What makes it particularly beneficial for Filipino traders is its focus on price action techniques. These techniques are universal and can be applied to any market, including the Philippine forex market.
However, it might be more suitable for readers who have a solid understanding of trading basics due to its advanced content.
| Likes | Dislikes |
|---|---|
| Transcends previous charting books with its unique concepts. | Some readers may find the concepts too advanced or complex. |
| Part of the popular “I Dare You to Trade” series. | Some readers may prefer a more traditional approach to trading. |
| The author shares her personal trading strategy. | The book might not be easily accessible outside of the Philippines. |
| The book is part of a bundle offer, providing value for money. | Some readers may find the book expensive if purchased individually. |
| The author’s works have been well-received by readers. | Some readers may wish for more examples or case studies. |
| The book offers advanced price action techniques. | Some readers may feel the book is not suitable for beginners. |
2. Forex For Beginners by Anna Coulling
“Forex For Beginners” by Anna Coulling is one of the best introductions to the world of Forex. This book takes a holistic approach to explaining the fundamentals of Forex trading in simple terms.
It covers the basics of currency trading, including types of currencies, major and minor pairs, and the mechanics of a trade. Coulling’s ability to simplify complex concepts makes this book an excellent starting point for new traders.
Coulling delves more profoundly into more advanced topics such as developing a trading plan, risk management, and trading psychology.
She provides readers with practical steps to navigate the Forex market effectively, differentiating this book from other Forex introductions. Readers will appreciate the real-world trading scenarios and the hands-on approach Coulling takes to educate Forex traders.
| Likes | Dislikes |
|---|---|
| Straightforward and easy-to-understand language | Some readers may find the content too basic |
| Detailed explanation of volume-price analysis | Lack of advanced techniques for seasoned traders |
| Provides a solid foundation for beginners | The teaching style may not suit everyone |
| Makes forex trading approachable for beginners | Not suitable for those looking for quick rich schemes |
| Acts as a prequel to more advanced books | Some might find the content repetitive |
| Uses practical examples and indicators | Requires commitment and time to grasp the concepts |
3. Day Trading and Swing Trading the Currency Market by Kathy Lien
In “Day Trading and Swing Trading the Currency Market,” Kathy Lien comprehensively reviews forex trading strategies. A well-respected forex analyst and trader, Lien uses her vast experience to guide traders through the volatile foreign exchange markets.
The book offers insights into the primary market drivers, the importance of timing, and strategies for both day and swing trading. Beyond strategy, Lien discusses the technical and fundamental indicators influencing forex markets.
She reviews everything from interest rate differentials to macroeconomic data releases, offering practical tips for interpreting and using this data to make informed trading decisions. This book benefits beginners and experienced traders looking to sharpen their trading skills.
| Likes | Dislikes |
|---|---|
| Offers both technical and fundamental strategies | The book might be complex for absolute beginners |
| Strategies applicable to individual traders, allowing them to compete with bank traders | Some readers may find it too detailed or overwhelming |
| Written by an industry expert with credible experience | The trading strategies may not guarantee success |
| Comprehensive and clear explanations | Some techniques might be outdated due to market changes |
| Provides strategies to profit from market moves | May require deep understanding of forex markets |
| Includes real-world examples and scenarios | Not a quick fix for making money, requires time and effort |
4. Currency Trading For Dummies by Brian Dolan
“Currency Trading For Dummies” by Brian Dolan is a great book to embark on your forex trading journey. The book demystifies the world of forex, making it accessible for newcomers.
Dolan starts with the basics, explaining currency quotes, forex trading mechanics, and the importance of understanding interest rates. He also uses real-world examples to clarify concepts, making the book practical and relatable.
Furthermore, Dolan dives deeper into the macroeconomic fundamentals that drive currency values. He discusses key economic indicators and political events that traders should know.
Moreover, he guides on developing a trading plan and managing risk effectively, making this book an excellent resource for new and experienced traders.
| Likes | Dislikes |
|---|---|
| Hands-on, user-friendly guide | May be too basic for experienced traders |
| Explains how the foreign exchange (Forex) market works | Some readers may find it too general |
| Useful for traders of all experience levels | The book doesn’t provide a guarantee of success |
| Plain-English guide, easy to understand | Some concepts might need further research |
| Updated informational personal finance and investment resource | Some strategies might not work in current market conditions |
| Authors have credible industry experience | It’s not a quick-rich scheme, requires time and effort |
5. The Little Book of Currency Trading by Kathy Lien
Kathy Lien’s “The Little Book of Currency Trading” is a compact guide to forex trading. Despite its size, the book is packed with useful information. Lien starts with the basics, explaining the structure of the forex market before discussing the importance of a sound trading strategy and the tenets of risk management.
In the latter part of the book, Lien gets into the nitty-gritty of forex trading. She explains how to interpret economic data releases and how political events can impact currency values.
She also provides real-life scenarios to explain how to apply trading strategies in various market conditions. This book is great for anyone looking to streamline their forex education.
| Likes | Dislikes |
|---|---|
| Offers practical guidance and strategies | Some readers may find it too basic |
| Written by a well-known industry expert | Some techniques might be outdated due to market changes |
| Easy-to-understand for beginners | Lack of in-depth technical analysis |
| Provides a comprehensive overview of currency trading | Some readers may find it too concise |
| Emphasizes the importance of self-awareness in trading | The strategies provided may not guarantee success |
| Includes real-world examples and scenarios | It doesn’t provide a quick fix for making money, requires time and effort |
6. Market Wizards by Jack D. Schwager
“Market Wizards” by Jack D. Schwager is a must-read for aspiring traders in any market, including forex. Schwager interviews top traders from different arenas, extracting wisdom and insights that can help traders at all levels.
Although it’s not strictly a forex book, the insights on trading psychology, risk management, and trading strategies are highly relevant for forex traders.
In the book, each trader shares their strategies, successes, failures, and key lessons learned in their trading career. These firsthand accounts offer readers a unique look into the minds of successful traders.
The wisdom shared in these interviews transcends specific markets and applies to anyone looking to understand the fundamentals of successful trading.
| Likes | Dislikes |
|---|---|
| Offers insights from interviews with top traders | The book might be complex for absolute beginners |
| Written by a recognized industry expert | Some strategies may not apply to current market conditions |
| Provides diverse perspectives across financial markets | Some readers may find it too detailed or overwhelming |
| Includes real-world examples and scenarios | The trading strategies may not guarantee success |
| Applicable to various types of financial trading, not just forex | May require deep understanding of financial markets |
| Valuable for traders of all experience levels | Not a quick fix for making money, requires time and effort |
7. A Beginner’s Guide to Forex Trading by Matthew Driver
Matthew Driver’s “A Beginner’s Guide to Forex Trading” is a comprehensive guide that lays a solid foundation for new traders.
The book covers everything from the mechanics of the forex market to trading psychology. Driver explains complex concepts in simple terms, making the book accessible to beginners.
Driver takes readers through the practical aspects of forex trading. He shares a detailed technical and fundamental analysis overview, outlining how traders can use these techniques to make informed trading decisions.
He also provides useful insights into risk management, providing tips on protecting your capital while trading.
| Likes | Dislikes |
|---|---|
| Comprehensive introduction to forex trading | Might be too basic for experienced traders |
| Written by a seasoned professional | Some readers may find it too detailed |
| Emphasizes understanding of how the forex market works | The trading strategies may not guarantee success |
| Easy-to-understand for beginners | Some concepts might need further research |
| Includes technical trading techniques and patterns | May require deep understanding of financial markets |
| Consistent top seller in forex category | Not a quick fix for making money, requires time and effort |
8. Beat the Forex Dealer by Agustin Silvani
In “Beat the Forex Dealer,” Agustin Silvani offers a rare glimpse into the interbank forex market. Silvani reveals dealers’ tricks and tactics to gain an edge over retail traders. He highlights the common pitfalls that trap many traders and provides practical techniques to avoid them.
Silvani explains how to read market signals and adapt your strategy to different market conditions. He also stresses the importance of risk management and discipline in successful forex trading.
This book will give traders a fresh perspective on the forex market, equipping them with the knowledge to beat the dealer at their own game.
| Likes | Dislikes |
|---|---|
| Provides an insider’s view on how forex dealers operate. | Some readers find the language used a bit complex. |
| Offers practical strategies for trading in the forex market. | Some strategies might not be suitable for beginners. |
| The author’s experience in the industry adds credibility to the text. | The book could use more visual aids like charts and diagrams. |
| Good balance of theoretical knowledge and practical advice. | Some readers may find the content slightly outdated as the forex market evolves rapidly. |
| The book is engaging and keeps the reader interested. | Some readers believe it requires a basic understanding of forex trading to fully grasp the concepts. |
| It emphasizes on risk management and the psychological aspects of trading. | Some readers wished for more examples of trades using the strategies discussed. |
9. The Sensible Guide to Forex by Cliff Wachtel
“The Sensible Guide to Forex” by Cliff Wachtel is a practical manual for risk-conscious forex trading. The book provides practical tips and strategies for retail traders looking to navigate the forex market safely and profitably.
Wachtel focuses on risk management and sustainable trading practices, making this book an excellent resource for responsible traders. Wachtel discusses various forex trading strategies, detailing when and how to use them effectively.
He also explains how to interpret economic data and political events, helping traders make informed decisions. With its focus on practical, sustainable trading, this book is an invaluable resource for traders looking to build a long-term career in forex trading.
| Likes | Dislikes |
|---|---|
| Provides safer, smarter, less complex ways to trade forex. | Some readers may find the book too technical for beginners. |
| Offers a roadmap to the confusing landscape of foreign exchange currency trading. | The book is quite detailed, which might be overwhelming for some. |
| Written by an experienced financial market writer, advisor, and analyst. | Some readers may prefer more real-world examples. |
| Teaches mainstream risk-averse investors how to build a portfolio that’s diversified by currency. | Some strategies might not be suitable for aggressive traders. |
| The book offers practical solutions for forex trading. | The content might be slightly outdated as the forex market evolves rapidly. |
| It provides the perspective traders need to take their forex trading to the next level. | Some readers may find the book a bit pricey. |
10. Forex Trading: The Basics Explained in Simple Terms by Jim Brown
In “Forex Trading: The Basics Explained in Simple Terms,” Jim Brown provides a simple and straightforward introduction to forex trading. Brown starts with the basics, explaining the structure of the forex market and the mechanics of trading.
He also provides an overview of technical and fundamental analysis, helping readers understand the driving forces behind currency movements. In the book’s second part, Brown shares his trading strategies.
He provides step-by-step instructions on implementing these strategies, complete with real-world examples. Brown also discusses the importance of risk management and provides tips on developing a robust trading plan. This book is an excellent starting point for those new to forex trading.
| Likes | Dislikes |
|---|---|
| Explains the basics of Forex trading in simple terms. | Some readers may find the book too basic, especially if they have prior forex trading knowledge. |
| Highly rated and recommended for new Forex traders. | Some readers may want more advanced strategies. |
| Written by an experienced full-time Forex trader. | Some readers may feel the content is focused more on theory than practical application. |
| The book stands out for its clear, concise language. | Some readers may prefer more real-world examples or case studies. |
| The author became intrigued by currency exchange and its profits, which adds a personal touch to the text. | Some readers may find the book slightly outdated as the forex market evolves rapidly. |
| The book consistently ranks as a bestseller on Amazon. | Some readers may feel the book is a bit pricey. |
How to Choose the Best Forex Trading Books in the Philippines in 2023
As a Filipino trader, choosing the best Forex trading books can be a daunting task, given the plethora of options available. This section will provide tips to help you out.
1. Understand Your Trading Level
Before purchasing a Forex trading book, it’s important to recognize your current level of trading knowledge. If you’re a beginner, look for books that simplify complex Forex concepts and provide a step-by-step guide to getting started in Forex trading. On the other hand, if you are more experienced, books that delve into advanced strategies and market analysis techniques would be more beneficial.
2. Check the Author’s Credibility
The author’s experience and expertise play a significant role in the quality and relevance of the content. Ensure the author has a background in Forex trading and has demonstrated success in the field. Books written by experienced traders or financial experts tend to provide practical insights and real-world examples, which can be particularly helpful.
3. Look for Region-Specific Content
Since Forex trading is influenced by local economic conditions and regulations, books that cater specifically to the Philippine market can be quite beneficial. These books can provide insights into the local Forex scene, regulatory environment, and specific strategies that work well in the Philippines.
4. Read Reviews and Recommendations
Online reviews and recommendations can provide a wealth of information about the value of the book. Look for reviews from readers who have a similar trading level and goals as yours. This will give you a better idea of whether the book meets your needs and expectations.
5. Consider the Book’s Approach
Some books focus on theory, while others are more practical. Depending on your learning style, you might prefer a book that provides a balance of both. A good Forex trading book should explain complex concepts in an understandable way, provide real-world examples, and offer practical strategies that you can apply in your trading activities.
Final Thoughts — Best Trading Books in the Philippines in 2023
Whether you’re a novice trader seeking foundational knowledge or an experienced trader looking to refine your strategies and deepen your understanding of the market, these books offer a wealth of knowledge and wisdom.
These resources cover various topics, from technical analysis and trading strategies, risk management techniques, to the psychological aspects of trading.
As we move through the end of 2023, equip yourself with the insights from these books to navigate Forex trading in the Philippines with increased confidence and strategic acumen.
While books provide valuable insights, trading also involves practical experience and continuous learning. Combine what you learn from these books with practical experience on a demo trading account to apply and test your new knowledge in your chosen Forex trading platform. Both book learning and hands-on experience can form a robust, well-rounded approach to Forex trading.
