Discussing about foreign money exchange rate

There are lots of resources available when it comes to forex trading. There are online courses, seminars and even one-on-one training available. Also there are websites that provide useful information related to forex such as “today exchange rates“. But sometimes the best way to learn about how to trade foreign currency is the old-fashioned way: by reading a book.

New market traders usually rely on books for reference as this allow them to re-read passages many times needed to fully get the concepts. Imagine asking the speaker at a large public seminar to repeat himself and you can see why a book has its advantages!

The question is, which forex book should you read? when you want to become more skilled in bank foreign exchange – Like any other field, the forex trading world has its share of hucksters and liars. Be wary of any book that makes outrageous claims in its title or on the cover — “Be a forex pro in an hour!” or “Make millions while you sleep!” for example. If a forex book promises something that’s too good to be true, it probably is. And if the book downplays or neglects the inherent risk in forex trading, you should skip it. You can learn more about trading by browsing online resources like “foreign exchange control“.

What you want in a forex book instead is calm, reasonable, practical advice. Glitzy language usually suggests the author is trying to make it fast. (And you have to wonder: If it’s SO EASY to make millions in forex trading, why is this guy writing books about it instead of doing it?) Restrained, logical language suggests the writer knows the market and is simply explaining what he’s learned.

Take not of how the book is presented also. Is it an e-book sold by some guy off his Web site? Is it riddled with grammar and spelling errors? Or does it appear to have been written and edited by professionals, and presented in an appealing, straightforward manner? Rememer, discussing topics like “foreign exchange tutorial” should be discussed in a manner that it is easily understood. You want a book that fits the latter description. It’s more likely to be reliable and up-front about the pros and cons of forex trading.

Finally, when considering foreign exchange derivatives and maybe a forex book, it’s worth taking a few minutes to Google the author’s name and see what comes up. Are there reviews of the book written by actual readers (not testimonials provided on the author’s Web site)? Has the writer been discussed in any news stories? This of his or her background? Does he or she have any real-world trading experience, or do they just write forex books? Remember, those who can do, do. Those who can’t do, teach.