At Forex50.com, we vowed to recommend only useful Forex Education material. There are tons of books and sites that offer to sell you something that makes money for them and rarely you find it useful. We hope you don’t have to waste your time going through all that. All successful traders go through a very steep learning curve to get to where they are today which includes constantly educating oneself. Trading successfully in Forex market takes a lot of market know-how, discipline, and adaptation for change. If you want to know more about this market or start trading yourself, list below are some of the most useful educational materials out there for you to get going. Just remember, good material is hard to find. If you want to be a good trader, you only need to focus your attention on what works. We hope these will help.
Forex, or the foreign exchange market, offers incredible financial opportunity for those who are ready for the adventure, but it can be disastrous and financially devastating for those who are unprepared. If you are going to be successful at trading, you will need to acquire a trading strategy that is easy to execute, easy to understand, and that works for you consistently. You will also need to master your emotions. Success lies in mastering four skills, three of the technical. These technical skills include knowing:
- How to find market direction in any time frame
- How to establish a successful entry strategy
- How to create solid exit strategy.
The following are the links you can use to gain such technical skills for Forex market:
http://www.babypips.com
This is probably the best site for beginners online. It has very complete and easy to understand information to get someone going in Forex Trading. The best part about the site is that it is absolutely free.
http://www.forexbootcamp.com
As you get a little more advanced, you want to check out this site. It is a very good site where you can gain useful technical skills of how to pick pivot points for entry and exit. Whether you will be a technical traders or fundamental trader, make sure you do know some technical skills because a lot of people use it, it impacts the market.
http://www.hardrightedge.com/about.htm
It is one of the best books we can find on technical analysis. Very easy to read and understand. Study it, sleep with it, treat it as a trading bible, it will empower you along your way to successful trading in any market.
http://www.forextips.com/aboutmti.htm
This site is probably one of the best educational sites out there for Forex traders. Jared F. Martinez is the founder. He has a lot of experience in trading and educating people in financial markets. You will benefit tremendously if you read his books and follow his advise in trading.
The remaining skill is more difficult, it is learning how to overcome the battle that take place in your mine. Believe it or not, our daily destructive habits hold us back from achieving what is rightfully ours in this life. If you want to be successful in trading, you must have mental discipline. The first step to master mental discipline is to analyze your character to ensure you are not bringing your bad habits to the trading table. Trading is a reflection of your personality. Your moral constitution, work ethic, and personal beliefs will mirror your trading habits. If it is your character to always break rules, then learning a new successful skill that can change your financial future is useless. You will simple break the rules and self-destruct. Ask yourself these questions before you are ready to trade.
- Are you more honest than dishonest?
- Are you are promise keep or promise breaker?
- Are you are rule maker or rule breaker?
- Do you think before you act?
- Do you manage your emotions or your emotions manage you?
- Are you positive or negative?
- Do you focus on the past or the future?
- Are you a goal setter or goal quitter?
The following are links you can use to gain some mental toughness:
http://www.traderslog.com/alexander-elder.htm
Get this book- Trading For A Living. It has very detail information about crowd psychology in financial markets and how you should interpret market situations for trading successfully.
http://www.harpercollins.com/author/index.aspx?authorid=8786
Trading is not easy at time. It is good to know some of the best traders in the world have gone thru what you will be going thru in getting to where they are today. Read all of his books and you will be prepared to accept temporary failures along you way to become a successful trader.
No one can become successful at anything without first establish their personal constitution. It is this aspect of yourself that either destroys you or let you succeed in life. We hope self-improvement books can help you prepare for what life demands the most – change and discipline!
There is a pattern among most people around the world, regardless of country, race, or culture; they become ‘’rainbow chasers’. Every few months they come up with a get-rich-quick plan online or through word-of-mouth, but these endeavors are doomed to fail, and then comes the inevitable blaming. Very seldom do those people accept responsibility for their outcome and look inside themselves to discover why they failed. They go from one adventure to another, never achieving their end result, and are clearly locked into self-destructive habits. They repeat their bad habits, continue to chase rainbows, and fail at just about everything they do.
There isn’t a get rich over night or one-size-fits- all formula for success. There are tons of books on how Warrant Buffet invests yet there is only one Sage of Omaha. Success takes time, discipline, and action. It does not come easy, mental growth is definitely a must before one can go anywhere in life. We hope these useful links can inspire you, empower you along your way to success in trading and life.
http://www.yeartosuccess.com
http://www.tonyrobbins.com/Home/Home.aspx
http://www.drwaynedyer.com/
http://www.naphill.org/
Lastly, reference below is one of the better places to go to for further education. It is University of Hard-knocks. It will teach you things you need where school has left off. School system only teaches people to be good scholars, but it does not teach people survival skills in the ‘real’ world. Hopefully it will help you.
http://learningannex.com
If there is an area you feel we have left off from this page, we hope Learningannex can fill the gap. They have seminars at times that teach you anything and everything you need to know about business, finance, self help from credible people from each field. It helps to get educated from people that have made it and networking is not bad neither with people who are also motivated as you are. Good luck!
http://www.netdania.com/ChartApplet.asp
http://www.multibankfxtrader.com
http://www.forexfactory.com/calendar.php
http://www.bloomberg.com/markets/ecalendar/index.html
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