Let me share some insights about how to use books other sources of information that grew out of my journey to profitable trading in the Forex. When I decided to learn how to trade I made the mistake of confusing “information-gathering” with “learning”. So I spent thouss on courses software books only to become overwhelmed with all that information. It wasn’t until much later; I realized that books courses advice are only starting-points on the way to real learning.
As I began trading my feelings swung between fearful extremes of “paralysis-by-analysis” impulsiveness. For me trading was neither pleasant nor consistently profitable! Just when I needed to get out of a trade quickly “p-b-a” would kick in I’d lose more of my precious resources. I knew this approach wasn’t working if I wanted to become a confident consistently profitable trader before losing all of my money I had to stop trading scared find another way. It dawned on me that before all the courses books “advisers” there was only the Market. After all wasn’t the Market the source of all their recommendations? It was such a relief to get all of that conflicting info out of my head! That’s good news. The bad news is that the “price” of my new way to learn was counted in thouss of “hours” instead of thouss of dollars! I didn’t care though as long as it worked. I did spend thouss of hours looking at the charts – at least 12 hours each day for about a year a half! But I kept at it because I remembered my training as an adult educator that real learning only happens when each student interacts with organizes information to produce knowledge. That’s what I did using only price indicators on the charts.
Here are a few examples of how you can begin to cut down the hours of observation analysis necessary to create your own trading system: (Always do this manually by eyeballing the charts document on spreadsheets.) 1. Find trends on the weekly charts (FXCM Power Charts show Weekly charts.) 2. Observe which indicators function as reliable “signals” to capture the majority of the move. 3. Choose the indicator combos that become obvious “signals” to you the second you see their patterns on the charts. (Be aware that you will prefer indicators shown on some charting services to others.) 4. Look for times when indicator combo did not accurately signal price direction make adjustments to your system. Murphy's older book:
The Visual Investor is helpful for knowing which classes of indicators produce a balanced system.
Creating your system is one small part of the learning involved in trading successfully. The first primary thing to consider is your attitude toward money your level of confidence in your ability to hle it. For a free e-book filled with exercises to help increase your comfort level with trading do a search for The Secrets To Emotion Free Trading by Larry Levin or go to:
www.trading-naked.com/articles__Reprints.htm.
IMNSHO
every book should be a workbook every course should be a workshop every piece of advice should come with worksheets for the student. If not the student should make his\her own as I did.
Always remember that your main goal is to underst the infallible market. It is never wrong you can’t control it; but you can learn to follow it. For that respectful attitude the Market will reward you with abundance. Enjoy the journey only put real money on the line when you can consistently practice-trade feeling only no excitement no anxiety - only calm. Suzanne
Licensed Brokers
Re: what's a good forex training course/book?
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