Forex trading is the most common passive profession across all parts of the world. Because of the high prospects and profit margin, so many individuals, companies, and organizations are getting into online currency trading.
If you want to be a pro forex trader, you must acquire the relevant knowledge of how the market operates. There are various trading books out there, but finding the right one to read can sometimes be tricky. That is why we compiled a list of the ten trading books to read in 2020.
Best forex trading book of all time
1. Trading in The Zone by Mark Douglas
The book “Trading in the Zone” is one of the first trading books you must read if you desire to be a successful trader. Top forex traders regard the book as the leading book in the trading industry because it contains practical strategies and experiences to control emotional responses as a trader. The book explores all the psychological characters needed to become a pro trader, and concisely discusses how to develop the attributes.
This book is a must-read, it has the ability to change your trading experience forever positively. If you want to learn about all the psychological problems that traders face, then quickly get your copy now.
Forex trading is not like other businesses, you can’t just dive in and hope to navigate easily on your own. There are certain points in life when you are totally aware that you need guidance on a particular issue and without said guidance, you cannot navigate the murky waters of forex trading on your own.
Even if you manage to navigate it, you never get as much as you should get from it, you will get stuck in the middle, bereft of growth. Some people trade for many years without making profit, this is the kind of person you must endeavor not become.
Hi traders, in this article, I will feature a few of the Bollinger Bands reversal patterns that I personally use very often in my trading. These are valuable trading ideas that you can incorporate into your own trading strategies.
Before I jump into details, let me say this…
I always encourage traders to conduct proper backtesting when introducing new tools into your trading plan. If you wish to discover how you can seamlessly incorporate new Bollinger bands ideas into your existing strategies, I recommend reading my previous post on Forex Tester 4 and my backtesting journey.
In this video, Jason Stapleton talked about the importance of looking at the big picture, finding the trend, and then trading with the trend. More importantly, he also taught us how to identify good risk-to-reward ratio in order to make this trading opportunity worthwhile.
As I have mentioned before, you won’t be able to win every single trade. All you have to do, is to make sure that you win more than you lose, and you will naturally come out as a great winner in the long run.
Hey guys, today I will do a Forex strategy review on a popular strategy found on the internet. It’s called the “Simple Balanced System” posted in one of the more popular Forex strategy website. Is it really that simple? Is the strategy profitable? I’ll get you the answer soon!
An old friend of mine once told me that back testing is not necessary. This is because past results may not represent future performance. To me, that was simply an excuse given by lazy traders who aren’t serious about improving their own trading business.
To a certain extent, I do agree that successful back-testing results do not 100% guarantee success in your live trading. Maybe 90% to 95%? But that is about the closest you can get, to have any form of basic profiling of your trading method and strategy. Continue reading “Why is back testing so important?”
Many new traders started trading Forex with the wrong foot due to the very wrong education in the early stage of their learning curve. Don’t believe me?
Just type in “Forex” in your google bar and you will get tons of website offering you strategies or even signal services.
These websites attempt to paint very beautiful pictures about how easy it is to make money by trading Forex. However, saying is one thing, but proving it is another.
Here at Forex Seriously, I not only tell you, but I’ll prove it to you. One of my aims for this blog is to help traders identify bad strategies by back testing through years of data. And I do all this for free. Continue reading “Forex Myth Busting”