I have been a member a few years, though went down the sports trading match betting route to gain further income. Have been quite successful, but now looking to get into FX trading.
I have a finance back ground of 30+ years and used to do basic spot and forward fx transactions for clients.
I am part way through the school, but want to find books to learn more on this subject. However, most of my books i listen to. When I find a good book I then buy the paper version, and using both formats I get a deep learning from the material.
Does anyone listen to FX trading books they can recommend? I am looking for two types. The fundamentals to enhance what i am learning here, and the psychological aspect. From my sports trading days I found myslef being too risk averse and would like the mindset to break out of that comfort zone in a controlled way.
Apologies if this has been asked before, but could not find a thread. Please direct me if there is one out there.
I really like Kathy Lien books, this one is an easy read presents several different types of traders, very good and inspirational for following ones rules.
If you like using Bollinger Bands Kathy also withes a few good books of the subject.
I see Kathy Lien has two books on Audible. One currency trading and the other for general markets.Have you listened to or read these books? I prefer to listen to an educational book first, and if it grips me I then buy the paperback to get the deeper understanding, making my own notes.
I have read all three of her books and papers.
I traded naked charts learning candles and patterns then I went to learning apply momentum and percentage of deviation as a means to verify what I was seeing. I’m not real fond of pivots or fractals but he bands set at 2% provides the deviation also adding a 1% deviation makes a double bands and provides easy to read treading or not.
Than I add the CCI oscillator as an unbounded momentum indicator.
Keep in mind indicator are mostly used incorrectly ti tell a trader what to trade where all they should be used for is a confirmation tool of your chart reading.
its a good list ,but according to me bookish knowledge is not supportive for all time , you have to practice trading in practically , otherwise any knowledge will not works.
i agree Wara_arif, and use a demo account whilst learning the techniques.
For me listening, reading, writing and doing have always been my go to method to learn a new skill. The doing part is essential, otherwise it stays in your head as a theory which will disappear over time.
Not gone live yet as too early in my learning curve. And that is where I need to learn more on the psychological side when switch from demo to live.
After reading the above posts, I have a short list of of audio books think will be good for me:
Trading in the Zone - for setting the right mindset Trading for a Living - though this is pre-internet days so may steer away until later in my career The Little Book of Currency Trading - had 2 recommendations. Thanks Forex Trading: the Bible 5 books in one - found this one on Audible and has good reviews. Just concerned the 5 books may be watered down, or could be perfect for me.
Thanks all for your suggestions, and appreciate any others to help me in the right direction.
You might like this PodCast link to something very different in Forex training.
I have found it pleasantly enlightening so far. Only discovered it over the weekend.
He says he will never charge people for membership, intellectual information or software and so on. Ever.
He has nothing to sell, but neither will he disclose what he uses.
Rather, he will give you the category and encourage you to find the solutions within those.
He has already sifted through thousands of free and paid-for indicators, and will tell you which are rubbish, but will not tell you which are good. That is where the ‘category’ comes in - eg ‘a momentum indicator.’
I like that his modus operandi is enlightenment through his knowledge and experience.
He says there is a reason that 70%+ traders don’t reach consistent profitability, and he backs it up with sound reasoning, and where available, proof.
I think what he is doing fits in well with the BabyPips philosophy of teaching people to ‘fish’ rather than giving them the fish.
You might like this kind of approach as well as the well-known books mentioned above.
Hmmm.
That link does not take you to the podcast I had in mind.
Perhaps - if interested - you could try this link and just research for yourself.
Apologies for not knowing that the link was a general one, and not linked specifically.