What to watch for when reading a forex book

When it comes to forex trading, there are many, many resources out there to

help you learn the ropes. There are online courses, seminars and even one-on-

one training available. But sometimes the best way to learn is the old-fashioned

way: by reading a book.

The marketplace abounds with forex books, and many new traders find them the

best way to learn because it allows them to re-read passages as many times as

necessary to fully grasp 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? 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.

What you want in a forex book instead is calm, reasonable, practical advice.

Showy, glitzy language suggests the writer is trying to pull a fast one. (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 note also of the book’s presentation. 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? 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 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

author been mentioned in any news stories? What is 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.

 

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