To Improve Your Forex Trading – Do This On The Weekend
Once you get through the Forex trading week, it is time to take a much needed break. But it is also time to reflect on your past trading experiences. There is always room for improvement… after all.
One of the things I like to do, if I have time and no plans with the family, is re-read some of the books I have on Forex trading. I do this not because I am looking for a trading system… but because I want to be reminded of what I am trying to accomplish. I want to be a successful Forex trader… and therefore need to learn from traders who ALREADY are successful.
This means reading books written by real Forex traders. I can quickly pick these out because they normally talk about a lot more than just trading methods. (Success in trading is the combination of trader psychology, money management and the trading system you use).
Here are some books I suggest you read, if you are really serious about being a Forex trader…
I really like this one because it reminds me I don’t need a high winning percentage to be profitable. As a matter of fact, Barry teaches you how to be a Forex loser (and still make profit). I think this concept is what a lot of traders are missing. The yput so much pressure on both themselves and the system they are trading… it is easy to get frustrated and give up.
I think it is liberating to remind myself I don’t need to be perfect and losses are part of the business of Forex.
Probably the most famous book on Forex trading… and with good reason. Again, this separates the real information from all the hype out there. And again, a lot of time is spent on things like traders psychology and money management. I know these topics might not seem that exciting… but this is exactly what is going to result in you becoming a successful Forex trader.
Do you think an ex-Bank trade could teach you a thing or two about Forex trading? The great thing about Tom is he had to create his own trading systems, even though he traded professionally. So, he has a unique perspective on trading Forex that you are not going to get from many people.
Now keep in mind, I re-read these books regardless of the Forex trading system I am using. What you learn from these REAL traders is UNIVERSAL and can help you become a better trader regardless of the specific trading system you are using. Plus, if you are not already happy with your current trading system, they can teach you a lot as well. I believe very trader should learn from real traders and try to implement their mindset, money management and trading secrets.
What have you done this weekend to become a better trader?