Forex Blog

Joe Chalhoub presents an article about how to become a real Forex trader, not some opportunist who is trying to reap some fast rewards and become a millionaire in no time. Foreign exchange market has became very attractive for many people recently. Traders come with hopes and go without after losing some their hard-earned money. Taking control in trading, developing your own organized approach to trading is the only way the newbie financial trader can become a real professional and start to earn systematically on Forex.

The presented Forex article is called How to Take Control in Forex Trading. I hope you will enjoy it, especially if you are only starting to enter the world of the currency trading

A new trader’s psychology related e-book for you to read:

Learning Flawless Execution of a Trading System by Mark Douglas

It’s more like an article - just 4 pages long, but it contains a useful information for all Forex traders that have problems in applying a trading strategy. Sometimes, it seems that you know better than your strategy and you correct its actions. Mark describes why such approach is completely wrong and tells us how to avoid it. If you constantly find yourself changing a Forex strategy after it lost 2 positions, you will probably learn some interesting facts from this book.

Another great e-book was added to my site today - it is “Trade Your Way to Financial Freedom” by Van K. Tharp. Too bad it is a rather poor quality scan. Nonetheless it is a very important book for all financial traders. And, in my opinion, it is especially important to Forex traders. Because it has so wonderful section about position sizing and money management which is usually Forex trader’s biggest problems (at least it was and somewhat still is for me). It is a big book with a lot of useful information. But if you don’t have enough time to read it all, read chapters about position sizing and R-multiples. This will probably change your way of thinking about successful trading strategy.

Another free Forex e-book is now available for download from this site. It deals with trader’s personality and emotions which are inevitable in such an activity as a financial trading of any kind. Various examples and stories are presented in this book to help a trader to better understand what he must to prevent losing money and gain them instead:

Your Personality and Successful Trading - by Windsor Advisory Services

Now you can download two more excellent Forex e-books about a role of the traders’ psychology in their success or failure (which is without a doubt a more often case) . These e-books are not very big or complicated, just an hour of interesting and useful Forex reading:

• 25 Rules Of Forex Trading Discipline - as the title suggest, a set of rules that are necessary to be followed to be a successful Forex trader.
• Stop Losses Are For Sissies - there is a sarcasm in the title of this e-book, really :-).