Forex Courses and Learning Resources
If you want to be a profitable forex trader and get the best out of mentoring,
you should have a good understanding of forex trading.
This includes the jargon and mechanics of trading, how to place trades and orders,
technical and fundamental analysis, money management and the psychology of trading.
I would like to offer you three ways of getting there:
The best way would be for you to have intensive one-on-one forex lessons from
Steve Pickering. You will taken step-by-step through all aspects, moving at your pace, The aim is to get you ready for trading with consistent results in the shortest possible time. For more information, please read the FAQ about the course.
If you want to learn this way, please use the form below and Steve Pickering will contact you to discuss your needs.
Personal Tuition Enquiry form
e-course - self learning
Sure-Fire Forex Trading
Bird Watching in Lion Country
is a masterpiece. Here is a fellow mentor who sees the market much in the same light as I do. As I have experienced, many would-be forex traders find the truth hard to swallow; namely that it takes hard work and dedication to become a successful forex trader. The 236-page tome is under priced for the home truths you will find within. Dirk goes systematically through the basics of what constitutes a trading system and goes on to talk about that vital factor 'The Edge'. I use this term too, albeit lifted from Mark Douglas, but there is no better word to describe it. Interestingly, we are given the facts about the forex market after this and finally we come back to using the 'Edge' in forex trading, where Dirk describes his 4 x 1 Strategy.
Dirk du Toit is a colleague of mine and this book is so eloquently written that I feel compelled to recommend the book because he has raised the stakes in producing practical, usable material for forex traders. If you have not traded forex before, I strongly recommend that you read this book before you go any further
Why am I including Mark McRae's course here? Because there is a lot of sense it what he says. He, like me, is a firm believer in money management. I have clients who have purchased this course and although they have got their heads around the system, still struggle with the money management. This is because no matter how good the course is you can't buy experience. Once I get them straightened out, good results with the Sure-Fire Forex Trading system generally follow.
The system also demands adherence to rules and that is where I can help. Mark's system is based on Fibonacci retracements and involves looking at three indicators to make sure that the you are not trading against the trend. Then, you use a calculator (the Risk Probability Calculator) to see if the trade matches your risk/reward profile.If it does, you can enter the trade and you have a profit target provided for you.
Again, as with the other course, there are very good tutorials on all the aspects of forex trading.
There are also many resources on the net and books, providing you know what you are looking for. You may search for books here.
Here is a selection of books that I believe that forex trader should read
in order to get a better understanding of the forex market and trading
A Foreign Exchange Primer by Shani Shamah
Although this book is primarily written for people that are clue less about foreign exchange (FX),
it will actually teach the clued-up a thing or two also.
The broad range of topics covered is what you'd expect to find in
a book that is considerably thicker and more expensive -
there's a detailed insight into the marketplace and its participants,
the products (spot, forwards, swaps, options), fundamental vs.
technical analysis, and more. The author writes in a concise,
but extremely readable style and makes extensive use of pictures
and diagrams. Furthermore, the book is bang up to date with recent
developments in FX, such as the Euro and electronic dealing
(that is, at the time I wrote this review).
Finally, as an added bonus, this book is not overly biased
towards the US or the US dollar, which I feel is especially
appropriate for an FX book. Highly recommended!
Technical Analysis of the Financial Markets by John J. Murphy
This is the bible of technical analysis. John J. Murphy is an
acknowledged expert on the subject and this book explains the
fundamentals of technical analysis and chart construction.
what you must know about trends, the price patterns, including major
reversal and continuation patterns. 510 pages of knowledge vital to
understand the principles of technical analysis.
The Disciplined Trader: Developing Winning Attitudes by Mark Douglas
One of the more important aspects of trading is psychology,
especially your own. What attitude you have to winning and losing
will decide whether you find success or not. Mark Douglas has
written this classic which will give you an insight into your own self-knowledge,
and will help you overcome your losing attitude, thus creating
a winning attitude.
Reminiscences of a Stock Operator by Edwin Lefévre
"I have only found 10 or 12 books that were of any real value
- Reminiscences is one of them." - William O'Neil Founder
and Chairman Investor's Business Daily. I agree. This book was written
over 80 years ago and everything in it still rings true. The
language is rather old-fashioned and the technology is
different, but the experiences are still the same and any trader
can benefit from this interesting book.