Enhancing Trader Performance — a second trading related book by a professional financial trader and psychologist Brett Steenbarger. In this one he offers several interesting techniques of enhancing a trader’s performance by improving his approach to trading and making money on markets. In the series of real-life examples Brett shows how expert traders distinguished themselves from the average traders through their organized and systematic approach to their profession. The gaining of competence and building a working method of sustainable strategy developing are show in this Forex book. The trader’s success is seen as not something constant in this book, but only constant self-improvement and enhancing of the one’s trading methods can bring a real success. The last two chapters of the book include cognitive and behavioral techniques for enhancing the performance.

Forecasting Profits Using Price and Time — a Forex book that shows the way to set goals and targets for the price movement in the future to help to reduce the risks that every trader takes each time he enters an active position on the market. Taking a corrective action before a price moves against the trader is one of the main principles of avoiding losses. Confirmation of the predicted price movement is one of the steps required before entering a position. A probable movement can be forecasted using a technical analysis. Although this book can?t be considered a detailed study for the technical analysis, it shows and explains how to combine and use the simple methods of technical analysis to reduce risks and trade profitably on any market — Forex, stocks, futures, commodities or options. Neural networks are also discussed in application to trading.

The New Market Wizards is a second book in the series and in some way a sequel of The Market Wizards by the same author. It focuses around the interviews of successful financial traders, who managed to find their place in ever-changing markets and developed their unique tactics and behavior to earn from trading. They are successful enough to be called wizards of the market. Schwager writes that the best way to learn trading is to listen to those who know how to trade. All presented interviews are made with real traders that perfectly fit as the role models. Searching for a holy grail and spending thousands dollars on various systems, tips and signals isn’t the right way of reaching success in Forex; knowing little secrets, techniques and understanding others’ experience is one of the easiest and cheapest ways to master trading.

The Mathematics of Money Management is one of the greatest books about the money management in trading. Like in many other fields, money management has two principal sides — psychological and mathematical. Psychological part is about putting the right amount of money at risk at a right time and why emotions tell you to do otherwise. Mathematical is about putting the right amount your funds at risk at a right time, and why statistics tell you to do so. This book is mostly about mathematics. It will give you a system to adhere in order to stop losing money where you shouldn’t lose anything. Even having a good market entry/exit strategy doesn’t guarantee that you will earn from trading; managing your money properly is very important in every kind of financial trading, that’s why I recommend this Forex book so much.

Mechanical Trading Systems — a real marvel in the collection of trading books, it can reveal the already working trading strategies and the working methods of creating such strategies. If you think that the mechanical trading (the one that is based solely on the technical analysis) can be profitable on Forex, this book will show you the most simple and the most sophisticated methods that can be applied to develop your own mechanical trading system. The author of this book acknowledges that the strategy or the system alone is not enough, but he applies a lot of passion to teach the readers of this part of trader’s success. If your read this book, you’ll be able to distinguish a bad trading strategy from the good one; you will learn how to back-test and forward-test mechanical systems; you will find out why some systems fail before they are even created and why others are doomed to earn money.

Microtrading the 1 Minute Chart — a really short (only 7 pages long) Forex strategy guide by the unknown author that will be useful to the technical analysis traders. It can be easily used to base your own ultra short-term Forex trading strategy. It’s presented as a strategy that should be used on 1 minute EUR/USD chart. It uses four standard technical indicators: Bollinger bands, exponential moving average, MACD histogram and relative strength index (RSI). The huge benefit of this Forex trading system is that it can be automated and turned into a mechanical expert advisor (e.g. for MetaTrader 4 platform). All strategy explanations are supported with the chart examples for the readers’ convenience. The only disadvantage of this book is that it doesn’t show any statistical reports of this system’s real trading usage.

Money Management — as its title obviously suggests, is a book about managing money and risks in the leveraged financial trading and investing. Dave Landry presents a rather short book composed of four main parts, each of them dedicated to one topic: Controlling Risks and Capturing Profits, Rules of the Road, Insights from the Pros, Pro Traders Share Their Lessons. Two advantages this book on money management has compared to other trading books on this topic — it is short (it’s really hard to cover such an extensive topic as money management in about 20 pages) and it’s based on experience of the real traders. Two last parts of the book are in the form of dialogs of the author and some professional financial trader. Money Management by Dave Landry is a good book to get the most important information on the money management before starting trading Forex for real.

Rapid Forex — Forex Surfing — is a one of the first and the most popular "become rich soon with Forex" books. It has the basics of Forex trading, technical and fundamental analysis, strategies, strategy development, broker advices etc. Being not very specialized in something particular it still has its own idea, which is quite interesting and potentially useful to any Forex trader: Forex trading should be like surfing the waves. When there are good waves in the ocean one has a chance to surf successfully — so is with trading — when there are good conditions on market, one should try to trade there. Catching a wave or knowing where the trend or the reverse is in Forex is also very important. When a skillful surfer is doing his work he does it smoothly and without any emotional stress. Professional Forex trader should trade calmly and know accurately where he will enter a position and where he will close it.

Surefire Trading Plans — it’s a popular Forex book that teaches the basics of the professional Forex trading. It won’t show you the basics of the trading; you won’t find a glossary or the some common EMA strategy in this book. It’s intended to for those who have already tried trading and know something about Forex. Surefire Trading Plans is about knowledge of how to build your own Forex trading plan, the most important parts of Forex trading and the real-life examples of the successful trading plans. The whole dedication to the plans in trading is not random. According to Mark McRae (and I agree with him on this issue) the success of the Forex trader is in a great extent dependent on the money management. And there can’t be any good money management with a plan, at least in the financial trading. This Forex book will help both with money management and with the real strategies that can be used with your own plan for trading.

The Taylor Trading Technique — a really old book about trading. It was written in 1950 and presents its technique examples mostly on the grain trading, which was quite popular those days among small traders (mini traders now). Although it might seem very outdated — both in terms of the strategies and methods and in terms of language it is written in, this book can be an interesting read for those who are interested in history of trading and how some types of modern trading techniques evolved from archaic forms described in Taylor’s book. George Douglas Taylor was a professional trader and also an apologetic supporter of the trading theory, which according to him was as important as the practical skills. This book describes the 3-day method (it’s mentioned as the Book Method). This method presumes that the financial markets move in three-day cycles (similar to the modern Elliot Waves). Those cycles are recognized by the patterns of up- and down-trends. Some of the modern traders still use the techniques described in The Taylor Trading Technique.