Book Review — Forex for Beginners
Are you a beginner? You don't know the fundamentals of Forex trading? In this article, I will review the book Forex for Beginners, by Anna Coulling. This is a very good book to start learning about currency exchange and the content will definitely satisfy you.
Title: Forex for Beginners
Authors: Anna Coulling
- Beginner traders who need the fundamentals and tips to start
- Mechanism of trading
- Currencies characteristics
Anna Coulling aims, with Forex for Beginners, to give you the basic knowledge you need to start trading currencies. But not only this! The book contains other useful information that many books for beginners ignore. The book is divided into 14 chapters and I must say it is well structured.
At the start of the book the author will go through the fundamentals, explaining the basic mechanisms of trading and the terminology. You will find some history about currency trading, how prices are quoted and the forces that drive the currency market and an introduction to the main currencies in the market.
Proceeding with the reading you will encounter different approaches to trading and the favorite tool of the author: volume analysis. Anna Coulling is in fact a strong believer in volume price analysis (VPA) and she will try to show you how to use it in some strategies.
Like in any other book for beginner you will be explained the basic concepts of risk and money management and trading psychology, so that hopefully you will not blow up your trading account.
Towards the end the reading becomes more practical. The author will explain how to choose your broker and what currency pair you should start with. You will see how get started with MetaTrader as well.
If the content is excellent, unfortunately, I cannot say the same of the writing style. The explanations are clear and the language very easy to follow but the quantity of information is significant and it can result a little boring at times. Breaking down all these pages of written text with some more images, formulas, tables and so on I think would help the reader's eyes.
For a beginner trader, this book has definitely a great value. If you are a beginner, you will find a lot of information, some of which original and not always included in other volumes, for example volume price analysis, suggestion on the currency pair to start with, how to choose a broker, introduction to MetaTrader.
Forex for Beginner is a good choice if you are looking for a book for beginner currency traders. The content is relevant and abundant, in my opinion better than the average of the Forex book for beginners. After the reading you will have the basic knowledge to start experimenting with some trade and become successful. The reading it, in my case, was a little boring or slow at times but definitely the content and the value of the book is great! I definitely suggest it to wannabe traders.
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