Best beginner forex book/guide? - page 3
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Forex Trading
Hi,
Thanks for sharing. I'm playing demo at fxdialogue. I just start to invest, so these resources really help me. I appreciate it. Thanks again
Regards,As a newbie I said above. There many things I have to study. Therefore, I spent time to look for more information on the internet, here are some good e-books. I hope it can help you somehow. Please add www/
earnforex.com/forex-e-books/beginner-forex-trading/
Best regards,
Forex beginner-manage risk 1st and foremost
Forex is ver rewarding but at the same time very damaging, so in order to survive and prosper in forex manage risk 1st and foremost. Money management is the most important tool in your forex trading. Plan your trade and trade your plan.
There are several gtood sites that is very informational about forex. the above mentioned are some of the best ones I agree. There are many articles and ebooks that you can read through, just take time scanning the internet.
This is a small and free instruction in how to draw trendlines correctly , before you start with any nice system or indicators learn this , and practice it in demo trading .
When you start you might think that drawing trendlines is just to easy to work , but in fact its good to use them with any indicator based system.
Forex Trend Line Book. Series of Free Forex ebooks
And before i forget Forex might not be the best market if you never traded before , its a "complicated" market and so full of scamm , you could write a book about
Wait i have one more wisdom too spread
My text above sounds a bid like if you couldnt trade by trendlines alone , thats not true , of course you can , and here i have found a good,easy and of course free strategy only based on trendlines. No voodoo Fib or Gann lines just good old trend lines you draw on a chart. based on actual prices .
After you get used to that kind of "naked" trading you can try to build a trat around it with additional stuff , if you feel that this can help you
http://forex-strategies-revealed.com/advanced/trend-line-trading-strategy
Building a collection advices for newbies in Forex Trading
Hi all,
Currently, I've just started to learn to invest in Forex field for 2 weeks. This is a good way to earn money if we well understand about trading, tools, and strategies in Forex. As a newbie, I follow people instruction and create a demo at fxdialogue because it is said that the best to learn Forex is open a demo account. I agree. A demo account helps me understand Forex better. Alike any other newbies, I still have not much experiences. Therefore, I create this thread to put advices and experiences in. Obviously sometime advices cannot be correct for 100 situation, but it helps us gain experiences. I really appreciate your advices, and experiences. Post them in, so we can make this thread become collection advices for beginners.
I start first, and if there is something wrong, please notice
1. As I said above: "Never start Trading without FIRST using a*DEMO Account"*.A Demo Account allows you to become familiar with trading procedures, such as placing Market, Stop and Limit orders without any risk. All dollar losses or gains in a Demo Account are imaginary but the
2. Start with basic trading knowledge. There are some people invest without knowing what they are doing. It's the worst thing human have ever made. We don’t need to have MA degree, 'cause even MA will lose sometimes, but we've better knew deeply about what we will do.
3. No one cares about your money as you do. Take 100% responsibility and never wait for brokers to take your responsibility. Brokers do not always show a potato as it really is. You have to know what they tell you are true or not.
4. Don't forget your discipline. Anyone can learn the basics of the trading game. Sadly, most of us will fail because of a lack of self-control, not a lack of knowledge.
5. Don't chase the crowd.Tune out the groupthink and dance to the beat of your own drummer. Get out of the chat rooms and off the stock boards. This is serious business.
The Essentials of Trading : From the Basics to Building a Winning Strategy
by John Forman
It talks about everything from risk and money management to analysis, market mechanics, system design, testing, planning, etc.
Also search for Dr. Brett Steenbarger
He's psychologist who has been trading for 30+ years and written few books about the subject also. I think his blog is one of the biggest trading related blogs on the internet, some very interesting stuff, it helped me a lot.
The Essentials of Trading : From the Basics to Building a Winning Strategy
by John Forman
It talks about everything from risk and money management to analysis, market mechanics, system design, testing, planning, etc.This is a good book, but I wouldn't recommend to start with it.
stating the obvious, but ummm, babypips?
Hi everyone,
First post here (long time lurker).
IMHO, (and I do mean humble) For the "Dirk" fans out there, I mean no disrespect, but I too have read BWILC, and felt that although there is some good info there for total beginners, for the most part it is just a sales tool to sell Dirk's mentoring services. He gives are few "tidbits" in BWILC but not really enough to sink your teeth into ...for the price of the book (it was like $75 when I bought it 5 or 6 years ago I think).
Kathy Lien's book I'd recommend becuase it does contain good info. Not tooo heavy on "systems" per se, but still a good read overall I thought.
"Trading in the Zone" is a must. Excellent book.
But for learning about technical systems and indicators, I'd HIGHLY AND I DO MEAN HIGHLY recommend "New Trading Systems and Methods" by Perry Kaufman. The man is a frickin GENIUS (a physics professor and mathematician), and his book (all 1,100 pages of it!!!) is jam-packed with a wealth of trading system development and analysis techniques and formulas for literally hundreds of indicators, and how they are used. This book is not FX-specific, but an EXCELLENT READ!
The material is a little dated, but don't under-estimate it. Most of it is still HIGHLY relevant.
Anyways, good luck to all.
ps - oh, and read online FX forums - you will get more from places like this than a lot of books. Get a free subscription to "Currency Trader" magazine also.