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Monday, August 3, 2009

How do I get the RIGHT Knowledge

Forget all the e-books, courses and other forex education sold on the net.Go to Amazon and get some books by top traders, who have walked the walk rather than simply talk the talk.Most sold info on the net is not worth the money and you can get far better knowledge cheaper at your local bookstore.Good books to start with are Jack Schwager - Market Wizards and New Market Wizards - the interviews here are all with legendary traders and is a great inspiring read.Then get some books on trader psychology.I am a big fan of Jake Bernstein who really shows how important and elusive getting the right trading psychology is and really hits it home.Another favourite of mine is Trader Vic by Victor Sperandeo, a fantastic book covering all you need to know from money management to system building.Done that?Then go on the net and build a simple system based around technical analysis, a breakout methodology find a few indicators you like to confirm trend momentum and you're all set to go. Sounds simple?Building the system is the easy part - getting the right mindset is the hard part - good luck.

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