Your Questions About Forex Trading Books

kenspong answers:

Try this one. Its probably the best book I ever had and its also recommended by Market Technician Association.

Technical Analysis of the Financial Markets by John J. Murphy.
This is the most comprehensive and informative book available on the market. It is an excellent book for beginners and experienced traders who want to polish they knowledge.

Http://how-to-trade.net/books/

kenspong answers:

I would say that nothing can be termed as best course. The trading consists of the following:

1) Understanding of the fundamentals – The broader and overall picture.
2) Understanding of technical analysis – Where to enter and where to exit.
3) Trading psychology and discipline.

In fact most of the times the third point proves to be the most crucial, which can make you or break you. The concepts of the analysis and indicators would remain same in all the training material and what would change is the depth and presentation. There are no thumb rules which can make you succeed because there can’t be. You need to study various material, burn your fingers a few times, learn and unlearn and learn again ana that is the ONLY best course to learn.

For the above mentioned 3 points, you may refer:

Fundamental:http://www.forexabode.com/fundamental-analysis
Technical: http://www.forexabode.com/technical-analysis
Psychology: http://www.forexabode.com/trading-psychology

kenspong answers:

There are two resources I would recommend.

The first is a video course by David Waring:
http://www.informedtrades.com/f112/

The second is an educational site:
http://www.babypips.com/school/

Both of these sites also have forums where you can joint a community and ask questions.

kenspong answers:

Trading forex at 100:1 leverage can blow out your account quickly. Either de-leverage or swing trade. A trader can trade almost any market. Doesn’t matter which, and it will take time to develop a preference. Each trader must determine his own time frame and market.

There is no such thing as “easier,” or “better” in the markets, in general. Those are subjective terms. Learn to think precisely, in full truth, not “in general.” If your aim is precise, you will hit your target or know why you misse.

Trading is the most difficult challenge you will ever choose, and thus the statistics that 90% of all traders lose money. Most successful traders lose everything several times before they figre it out, after several years of hard work. If you’re doing it for the money, you will grow weary easily. You have to be driven to trade for itself, before you will become a trader, and then maybe not.

Read all you can and study hard. Do not rush to throw your money away. Like you said, trade a simulator.

Http://simulator.investopedia.com/Default.aspx?viewed=1

Develop a trading plan, including stops and money management. When you have 100 trades on a simulator you will see a pattern. If you lose, nothing lost, and time to study more and revise your plan.

kenspong answers:

Silver is not forex. It is a commodity. You trade it in futures markets or as an ETF.