Best Forex trading books to read in South Africa

The best books on Forex trading in South Africa

Currency trading is becoming more and more popular in South Africa. As the country’s economy grows, so does the demand for financial trading and investing from the country’s population. 

Quality education is crucial when it comes to trading currencies profitably. Best learn FX trading books South Africa residents can get their hands on depending on the subject. 

There are lots of amazing Forex trading books South Africa residents can read on psychology, and technical analysis. In addition, there are books for beginners and seasoned traders. Let’s discuss some of the best South Africa trading books of all time below.

Top 10 South Africa trading books for beginners

Japanese Candlestick Charting Techniques by Steve Nison

This book is one of the best books for Forex trading in South Africa and around the world. Japanese candlestick charting and candlestick patterns are actively used in financial trading and market analysis. The candlesticks have a unique characteristic to condense a large amount of information into a smaller space, such as open price of a candle, close price, and the maximum and minimum points. 

The key features of the book include: 

  • candlestick charting and its history: the book describes the origins and developments of candlestick charting techniques in Japan.
  • Candlestick patterns: the author introduces various candlestick patterns along with their names and descriptions. Steve Nison explained the psychology behind each pattern.
  • Practical examples: the book provides traders with practical examples from real trading data. These examples help traders learn how to apply candlestick patterns to their technical analysis. 
  • The book also mentions how to use trendlines, support and resistance levels and moving averages in combination with candlestick patterns. 
  • Trading strategies: the author shares various trading strategies based on candlestick patterns and risk management techniques. 

Trading in the Zone by Mark Douglas

One of the best FX trade book to read in South Africa is “Trading in the Zone”. The book was published in 2001 and quickly gained popularity among traders. The author argues that traders need to develop a constructive mindset to make rational decisions and manage emotions effectively. 

A Beginner’s Guide to Forex trading by Mattew Driver

The book was published in 2012 and it covers a wide range of topics such as technical and fundamental trading, psychology, and risk management. This book includes useful examples, ideas and trading strategies. The book was written for novice traders who are just starting their trading journey into the world of Forex markets.

Forex For Beginners by Anna Couling

This book covers various important topics for beginners such as: introduction to Forex trading, understanding the market participants, fundamental analysis, technical analysis, developing a trading plan, trading psychology, risk and money management, trading platforms and tools, and practical examples and case studies.

The Little Book of Currency Trading by Kathy Lien

The Little Book of Currency Trading is a beginner’s guide to the world of forex trading, providing valuable information and practical advice for those interested in getting started.

The Black Book of Forex Trading by Paul Langer

Paul Langer has been working as a full time trader for more than eight years. His main trading technique is based on Price Action and simple technical concepts. The book covers the three main areas of trading: 

  • Trading strategies
  • Money management 
  • Control of emotions

Forex Trading: The Basics Explained in Simple Terms by Jim Brown

The book was published in 2015 and covers basics for beginners. Some of the basics covered in the book include: 

  • Definition of Forex and currency markets
  • Strategies for entering and exiting trades
  • Trading psychology
  • The ins and outs of currency pairs
  • Places to trade foreign currencies
  • Tips and tricks for selecting a forex broker

Forex Price Action Scalping by Bob Volman

Forex Price Action Scalping offers a unique look into the field of professional trading and practices applied by the best traders. The book is filled with countless charts. It includes hundreds of setups, entries and exits, and price action principles. In addition, the book covers psychological aspects of trading.

The Forex Trading Course: A Self-Study Guide to Becoming a Successful Currency Trader by Abe Cofnas

The book explains how to use integration of technical and fundamental analysis in planning trades. The book covers many important topics, such as:

  • Changes brought about by quantitative easing and central bank decisions. 
  • How to use binary options with currency trades to make proper predictions on price direction, tardets and stop loss orders.
  • How to use herding behavior and swarming patterns to predict future market moves by observing social media.
  • Bitcoin and latest trends in cryptocurrency trading.

The Sensible Guide to Forex: Safer, Smarter Ways to Survive and Prosper from the Start by Cliff Wachtel

The book focuses on important aspects such as how to minimize risks of complexity, time demand and high risks associated with currency trading. The book provides traders with ways to trade FX with higher odds of making profits. The book teaches readers how to spot trading opportunities that offer phenomenal risk to reward ratios. 

What is the best book to learn about Forex in South Africa?

There are a couple of best trading books for beginners in South Africa. “Japanese Candlestick Charting Techniques” and “Forex Price Action Scalping books” will help you enhance your knowledge in technical analysis. South Africa best book on FX trading psychology is “Trading in the Zone ” by Mark Douglas.

Where to find best books to read about Forex trading?

There are many sources to access Forex books to read in South Africa. You can purchase an FX trading book in a bookstore, go to a library or buy a currency trading book online. 

Which book is the best to learn Forex trading fastest in South Africa?

There are many high quality books to read to start trading in South Africa. “Forex For Beginners” by Anna Couling is the best rated among them by readers. 

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