Hey guys. I am new at the forex hoop la! I’ve been browsing around this site and it seems great! Can anyone point me to any forex books that might have been really helpful in your forex careers?
I have read through the school, and need to do it a few more times, I have a demo account and am learning by doing the basic system that is in the school which is stochastic, RSI and two ema’s 10 and 5, on a daily chart.
once you start doing this you can begin to see the way these indicators work.
I’m not sure “books” are the answer.
Reading threads, and looking at live charts, and trying to understand what people are talking about.
I think the candle stick thread is really good, and the fib retracemnet one, but applying these ideas in practice is hard (i have only been doing it for a couple of months) although I have to admit I have now jumped the gun with a $1000 account, and managed to make a $100, and then lose $100 in two weeks.
Two books that I feel are must reads for anyone who wants to be a trader for the long haul!
Trading for a Living by Alexander Elder
and…
Zen in the Markets – Confessions of a Samaurai Trader by Edwars Allen Toppel
Hope this helps!!
Hi
You can learn many things about forex tradeing reading Unique Scientific Trading Methods. …you can learn next:
How to kidnap those Trading P~rofits
How to trade three different trading systems
How to manage your risk
How you can be right only 50% of the time and still make moolah
The basic of trading every trader has to know
How to use technical analysis to power your trading
How to use probability to give you the edge
Why 90% of all traders fail
Why of those 90% who fail: 10% go bankrupt
What really makes a good trader
What you should trade
The secret of successful trading…
And more…
Regards
My ‘trillion dollars worth’ to any and all new traders:
We (myself included) tend to try and ‘jump in’ at the ‘deep end’ i.e. we try to find books with trading systems in them so that we can start making money immediately using a sort of ‘paint by number approach’. Trust me when I tell you that this DOES NOT work i.e. EVEN WITH the BEST trading system in the world if you are not phsycologically prepared for trading and do not at least have a basic understanding of what makes the market ‘tick’ (no pun intended) YOU WILL FAIL. I would suggest a book called ‘Mastering The Trade’ by John F. Carter NOT for the systems detailed in the book but for the wealth of information on this thing that we call ‘the market’ (such information making up the bulk of the book anyway). You will learn who is making money, who is getting ‘burned’, and why, and most importantly there is chapter upon chapter covering many of the phsycological aspects of trading.