There area unit many benefits of the Forex market over another varieties of monetary commerce.

When talking regarding varied investments that area unit accessible to nearly everybody, there's one kind that springs to mind. The Forex or exchange market has several benefits over different varieties of tradin. Since it's associate over-the-counter (over-the-counter) market, the Forex market is open twenty four hours each day, not like the regular stock or artefact markets. Most investments need a big quantity of cash before you'll be able to make the most of that investment chance. you simply would like atiny low quantity of capital to trade Forex. everybody will enter the market with as very little as $1 to trade a "micro account", that permits you to open positions of one,000 units. One heap of one,000 units of currency is up to one go for small account. every "pip" or "tick" (smallest currency rate movement up or down) is price $0.10 profit or loss, counting on wheather you're going with the market or against it. A Forex mini account offers you management over ten,000 units of currency, wherever one pip is price $1.00. whereas a typical account offers you management over one hundred,000 units of currency, and a pip here is sometimes price $10.00.

Forex is additionally one amongst the foremost liquid markets. once commerce currencies on the spot Forex market you have got full management of your capital, which means that you simply should purchase and sell your positions anytime throughout market open amount. this is often a particular advantage as a result of, if you wish to use your account cash, it are often accessed now while not further commission or waiting periods. several different varieties of investments need holding your cash up for rather long periods of your time.

Also, in Forex, with atiny low quantity of cash, you'll be able to management larger market positions victimization the leverage or margin commerce. Leverage of 1:100 is common within the Fore market. It permits you to manage amounts one hundred times larger than your capital, whereas leverage of 1:500 and 1:1000 are often found with some offshore corporations.

Forex traders are often profitable in optimistic or pessimistic market conditions. securities market traders would like stock costs to rise so as to require a profit, since short-selling may be a subject to strict limits available exchanges. Forex traders will create a profit throughout each uptrends and downtrends. Forex commerce is truly thought of risky however with an honest commerce system to follow, sensible cash management skills, and a few level of self-discipline, the risks of Forex commerce are often decreased  significantly.

The Forex market are often listed anytime and anyplace. As long as you have got access to a laptop and net, you have got the power to trade the Forex market. a very important factor to recollect before jumping into commerce currencies is that it's price active with "paper money", or "fake money", on the demo account. Most exchange brokers have demo accounts wherever you'll be able to transfer their commerce platform and follow in time period with real market knowledge however with "virtual money". whereas profitable demo commerce cannot guarantee your success with real cash, active will provide you with an enormous advantage to become higher ready after you begin commerce along with your real, hard-earned cash.

Here you will find the Forex e-books that provide the basic information on Forex trading. You can learn basic concepts of the Forex market, the technical and fundamental analysis. While all these e-books are recommended for every new Forex trader, they won't be very useful to the very experienced traders.

Almost all Forex e-books are in .pdf format. You'll need Adobe Acrobat Reader to open these e-books. Some of the e-books (those that are in parts) are zipped.

If you are having problems downloading the books and you are using Google Chrome, try right-clicking a book download link and choose 'Save link as...'

If you are the copyright owner of any of these e-books and don't want me to share them, please, contact me and I will gladly remove them.

Candlesticks For Support And Resistance — The basics of trading with candlesticks charts by John H. Forman.

Online Trading Courses — Course #1 lesson #1 by Jake Bernstein.

Commodity Futures Trading for Beginners — by Bruce Babcock.

Hidden Divergence — by Barbara Star, Ph.D.

Peaks and Troughs — by Martin J. Pring.

Reverse Divergences And Momentum — by Martin J. Pring.

Strategy:10 — Low-risk, high-return Forex trading by W. R. Booker & Co.

The NYSE Tick Index And Candlesticks — by Tim Ord.

Trend Determination — A quick, accurate and effective methodology by John Hayden.

The Original Turtle Trading Rules — by OrignalTurtles.org.

Introduction to Forex — by 1st Forex Trading Academy. This trading course intends to provide to all of the students analytical tools on the trading system and methodologies. In this respect, the purpose of the course is to provide an overview of the many strategies that are being used in Forex market and to discuss the steps and tools that are needed in order to use these strategies successfully.

The Six Forces of Forex — by Scott Owens. A small e-book covering the basic and the main problems of Forex trading.

Study Book for Successful Foreign Exchange Dealing — by Royal Forex.

Forex. On-Line Manual for Successful Trading — an introduction into every aspect of the Forex trading including detailed descriptions of the technical and fundamental analysis techniques, by unknown author.

18 Trading Champions Share Their Keys to Top Trading Profits — as the name suggests, the book shares the secrets of the 18 prominent traders with the Forex beginners, by FWN.

The Way to Trade Forex — a 1st chapter of the book that will show you not only Forex basics but also some unusual techniques and strategies that can work for the newbie traders, by Jay Lakhani.

The Truth About Fibonacci Trading — the basic facts and information about Fibonacci levels and their application to the Forex trading, by Bill Poulos.

Quick Guide to Forex Trading — a 2008 edition of the Forex guide for the beginners and private traders issued by Easy-Forex.

Chart Patterns and Technical Indicators — an explanation of the most popular chart patterns and some technical indicators, by unknown author.

Forex Trading — a rather generic all-topic guide for beginners in Forex trading, by Richard Taylor.

Trading Forex: What Investors Need to Know — by NFA. National Futures Association gives introduction to the online retail Forex trading and warns about the potential dangers of such activity.^*

My Dog Ate My Forex — by Doug Breiten. A rather generic Forex e-book that, nevertheless, shares some useful insights with the Forex traders on their road to success.

Point & Figure for Forex — by James Chen. An article from 2007 issue of Technical Analysis of Stocks & Commodities magazine. Offers a basic introduction to point-and-figure charting and shows some P&F chart patterns.

Here at Learn To Trade The Market we are introducing what we call the “Coffee Shop Traders Movement” today. This idea came to me recently as I was – surprise surprise – trading from my laptop while in a local coffee shop. I began thinking about how my trading has morphed over the years from messy, complicated and having a big trading desk with multiple monitors, to its current form which is mobile and minimalistic. Trading in this manner actually helps me to keep emotion and over-trading at bay, because rather than walking into an over-the-top trading room with 10 flat-screen monitors where I might feel compelled to enter a trade, I have everything I need to trade successfully on my pencil-thin Ultrabook laptop.

I have found over the years that if there’s what I call a “damn obvious” price action signal on any given day, I will be able to spot it and trade it just fine with only my laptop, whether I’m at home, at a friend’s house or at a coffee shop. I began to think about how trading in this manner meshes perfectly with the simple scaled-back approach that price action analysis brings…it really completes the package ofminimalistic trading. This is in contrast to the façade of the stereotypical “trader” analyzing and trading the markets on a big stack of flat panel monitors while pouring over countless economic news reports and technical indicators all day.

Why you should become a “coffee shop trader”

Recently, I’ve adopted a “minimalist” approach in my personal life that I had already been using in my trading for years. The way that you become a trader who can trade from a coffee shop, a sofa, or anywhere else, is by simplifying your trading, from the strategy you use all the way down to the hardware and software you trade with. I actually got the idea to “simplify” my personal life from the way that simplicity and minimalism had improved my trading. Just as reducing the clutter and variables on my charts worked to increase my time, money, and overall success level in trading, it had virtually the same effect on my personal life.

Trading is perhaps one of the only professions in the world where doing “less” is better for you. Many people have trouble when they start trading because they are used to working long hours, studying long hours, and generally doing as much as possible at their job or school each day. Thus, it’s natural to assume this philosophy should apply to trading as well.

The problem with this is that your actions have exactly zero effect on the markets…all you can do is analyze them and trade a high probability strategy. After you have learned how to trade your strategy and you feel 100% confident with it, all that’s left to do is open up your charts two or three times a day, look for your trade setups and then either enter a trade, possibly adjust stops or targets from a previous trade, or walk away. This notion that you have to read forex news reports and sit at your computer trying to make sense out of 5 different indicators, Elliot Wave and what the guy on CNBC is telling you…is just ludicrous, unnecessary and counter-productive! So stop it!!

How to become a “coffee shop trader”

Becoming a “coffee shop trader” is really the end result of simplifying your trading strategy, minimizing the time you spend analyzing the markets each day and generally just taking a calm and scaled-back approach to trading. Most traders start off in a somewhat haphazard manner, excited to get started but not yet certain of exactly what they are doing. Over time, we either figure out that less is more, or we give up all together. What I mean by that is that most traders over-complicate the trading process and experience a period of trial and error that is usually defined by losing money. They then either reach a point where they give up on trading all together, assuming it’s too difficult for them or that it “can’t be done”, or they come to the realization that all they need to do is chill out a little bit, solidify and simplify their trading strategy and just stop trading so damn much.

 have found that the simplest approach, and the most effective one, is to simply wait patiently for my price action setups to form on the daily chart or the 4 hour chart (occasionally the 1 hour). I then execute my trade if my edge is present or walk away if it’s not. Most of the time I just let the market do the “work” and give my edge it’s proper time and space to play out, rather than messing around with the trade because I “think” the market will stop me out. It’s a funny thing that many traders have a solid trading edge but then through voluntary interference they fail to give their trades proper time to play out and this likely lowers the probability of their trading edge over time.

Trading higher time frames and low-frequency trading is much more conducive to most people’s on-the-go modern lifestyle. The idea with my “coffee shop traders” approach is that by taking a more relaxed and slowed-down approach to trading, a trader will work to forge the correct trading mindset and trading habits. This is in contrast to the frantic pace of day-trading and trading with messy charts or overly-complicated trading systems that many traders seem to prefer (to their own detriment). The majority of retail traders are people with full-time day jobs, and when they try to be “scalpers” or “day-traders” they simply put themselves in a very difficult situation right out of the gate since they don’t have the time they need to dedicate to trading short time frames. My opinion is that all traders should first master higher time frame trading and only after having found success on the 4 hour chart and above should they consider day-trading or scalping. Most traders seem to go in “reverse” by first getting attracted to day-trading and then later moving to the higher time frame charts after they find out that trying to make money on a 5 minute chart is something only a very experience professional trader should try.

Conclusion

Whereas trading is sometimes thought of as a complicated profession that mainly the Ivy-league elite excel at, I teach my students to scale-back their involvement in the markets to the point where they can trade comfortably from a coffee shop or their own home with nothing more than a wireless internet connection and a laptop or iPad. Taking this simplified approach to trading actually helps most traders improve their performance since trading is a highly psychological profession that tempts many traders to become over-involved with the markets, giving rise to emotional trading mistakes.

Being a “coffee shop trader” is not something that just happens overnight. It really is the end result of having your trading strategy mastered to the point where you are 100% confident in your ability to trade it. This means, you can open up your charts, scroll through them quickly and easily determine whether or not there’s something worth trading. You aren’t sitting there for hours stewing over economic news, Elliott Waves, MACDs, Stochastics, or any other messy and unnecessary analysis tools. The coffee shop trader simply needs his Ultrabook/Laptop PC, an internet connection and his own finely-tuned trading skills.

If the “coffee shop trader” approach interests you, but you just need a solid strategy to get started, then I suggest you look at myprice action trading course. Once you have learned everything I teach in it and truly mastered it, you’ll be able to flip open your laptop and almost instantly know if there’s a trade setup worth risking your money on or not. This is how I personally trade and I wouldn’t recommend any other approach to anyone, it sure as hell beats sitting around staring at the markets all day (and night) wasting your time and becoming confused and frustrated. If you follow my members’ daily trade setups commentary, it will act as an effective guide to the daily charts of some of the major Forex pairs each day and it’s an excellent daily companion to the relaxed style of “coffee shop trading” that we’ve discussed here today.

Here we are at year’s end again, and it’s time to stop trading for a bit and reflect on our past year’s trading performance. This means it’s time to get honest with yourself…how did you fare last year in the markets? Can you honestly say you put forth your best effort at being a disciplined and logical trader or did you behave more like someone on a 1 year gambling binge in Las Vegas? Either way, it’s time to get ready for the New Year and take advantage of the psychological “clean slate” that comes with it. Every trader knows their main weaknesses, so when writing our New Year’s trading resolutions and affirmations, don’t be afraid to focus on your weak points and bring them to the surface. Don’t sugar-coat this; everyone has weaknesses when it comes to trading and if you don’t face them head-on you will never strengthen them. Here are 5 trading resolutions for 2013 to get you started; you can add some more of your own to give yourself a nice list of achievable trading goals for the New Year:

1)  I will aim to be a better person in general

I’ll admit it, this first point isn’t just related to trading, it applies to life in general; it could apply to relationships, your job, business, or even to your studies if you’re a student. One reason why most people don’t achieve their New Year’s resolutions is because they get bogged down doing things that are really just a waste of time. Many people have a hard time making efficient and effective use of their time. Many people struggle when it comes to seeing things through from start to finish, especially when it comes to things they aren’t necessarily “forced” to do like when you’re at work and your boss is watching you.

The secret to becoming a better person and trader is to keep the flow of positive thinking and positive habits going…it can be difficult to get back into the gym regularly or back filling out your trading journal regularly, but it’s simply “getting up on the horse” that is usually the hardest part. Once you get going on the right track you start to develop positive habits, and these habits will reinforce themselves in your brain the more you stick with them, creating confidence and making it more likely that you continue to stay on track and get closer to your trading goals or other life goals.

2) I will stick with my trading method

umping from method to method or system to system is a big reason many traders struggle to make money in the markets. You need to commit to one method this year and stick with it, through the good times and bad. Commit yourself to 12 months of continued study of price action trading, follow the teachings in my trading course and daily commentary and fine-tune your own personal price action trading skill. You need to give it a real crack, even in the face of hardship, account draw downs or low confidence…you have to commit to getting back up on the “horse” and keep going. Every method or system is going to have losing trades…it’s part of trading, you can’t give up every time you have two or three losers in a row.

One proven method that will help you stick to price action trading is to decide to focus on one price action setup at a time and really master it. If you’re a new or struggling price action trader you should read my article from last week on How to Profit with Price Action and follow what I say in it. An excellent New Year’s resolution to get your trading on the right track would be to become a “specialist” of one price action setup at a time. Even if it takes you all of 2013 to accomplish this, you have to ask yourself if that would be an improvement over your 2012 trading performance or not, I’m willing to bet it would be.

3) I will limit my trading screen time to 1 hour per day

Most losing traders tend to spend way too much time looking at their charts, trying to find trades and reading economic news. If you take my simplified approach to analyzing and trading the markets with price action on higher time frames, you’ll be able to quickly scan the markets for your price action setups, you’ll save a lot of time and money by not over-trading and hopefully increase your win rate.

Limiting your screen time like this will eliminate most second-guessing and allow you to make cleaner and crisper trading decisions. It will also leave you more time to do other stuff like spend time with your family or focus more on your day job. It’s ironic that it tends to be the people who spend the least amount of time watching the markets tend to make the most money, at least that’s the feedback I’ve got from dealing with over 8,000 traders since 2008.

4) I will become a “minimalist” thinker

Minimalism is like its own religion for some people; they choose to live as minimalists, while this lifestyle won’t be practical for everyone, we definitely need to trade as minimalists…This includes removing indicators and “clutter” from your charts which only clouds decision making, and generally just taking a “minimalist” approach in all aspects of your trading. We want to abide by a basic set of principles and logic that does not complicate the trading process, price action trading fits that mold perfectly.

I recently wrote an article about my journey of becoming a minimalist in all aspects of my life, and I  actually took the idea from the way that I trade; minimally. It seems as though humans have an innate tendency to over-complicate things, from relationships to trading this seems to be the case. Thus, in 2013 one of your main resolutions should be to become a “minimalist trader”. You can do this by sticking to the simple price action trading strategies that I teach, higher time frame trading, and reducing the amount of time you actually focus on analyzing and trading the markets. This minimalist trading approach is something that dramatically improved my personal trading performance and later my everyday life as I got rid of unnecessary possessions and ‘streamlined’ my life.

5) I will read my daily trading affirmations

What’s a trading affirmation you ask? I actually wrote a good article on this earlier this year, check it out here: Daily trading affirmations. You might want to use some of the affirmations in that article as well as some of your own and write out your own daily trading affirmations list that you read every day before you trade.

Reading affirmations to yourself each day before you look at the markets can be an excellent way to keep you focused and on-track. A big part of becoming a successful trader is just remembering that trading is a marathon not a sprint, and to act accordingly. It can be very easy to fall off the right track and start “trading like a machine gunner”, so having a daily reminder to yourself of what you need to do to achieve success, can be a big help.