Trading the Forex Markets is becoming one of the most popular and profitable stay-at-home businesses in the world. If you've already decided that you want to venture into this world, read this article, first:
Are You Using These 7 Forex Trading Tools?
By Kevin Mastaw
Before you put a single dollar into your first trade, you'll want to become very well educated on what is involved. And then your education should never end.
I spent a LOT of money to get my forex education only to find that much of that material is now available in books and on the web. Here are the 7 resources that I recommend to get started on your forex trading career and to keep it on solid footing:
1. Trading for a Living: Psychology, Trading Tactics, Money Management by Dr. Alexander Elder discusses, well, the Psychology, Trading Tactics, and Money Management principals required for trading.
2. Come into my Trading Room , the follow-up to Trading for a Living , is also written by Dr. Elder. This book goes even deeper into the pyschology of the "game" of trading.
3. Profiting With Forex by Wade S. Hansen and John Jagerson is the book that provides you the background that you'll need to effectively utilize their website.
4. Day Trading the Currency Market: Technical and Fundamental Strategies To Profit from Market Swings (Wiley Trading) - Although not as good as Profiting With Forex, in my opinion, Kathy Lien does offer some good strategies in her book. Kathy is the chief strategist at Forex Capital Markets, the number one currency trading dealer in the U.S. Which brings me to...
5. www.FXCM.com (Forex Capital Markets) - which is where I do my trading. My trades are executed promptly with no funny business. There are tons of charts and information on there as well.
6. www.Pfxglobal.com - You can learn everything you need to know about trading just by checking into this site, daily. Why Wade Hansen and John Jagersen give this knowledge away for free is beyond me. But who knows for how long this will be the case?
7. The Investools FX blog - I took the Investools training for stocks and currency trading. In my opinion there is none better. It is quite expensive - but consistently losing trades is even more so! I met quite a few of the Investools coaches at their headquarters in Salt Lake City. I was struck by how honest they were. They all have the students' best interest at heart. And most of all they know how to trade!
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