Trading effectively on the foreign exchange markets has 3 key aspects:
1) Understanding the markets;
2) Understanding your tools (including money management);
3) Self-discipline and analysis.

Although simple to state, becoming proficient in these aspects is difficult. This is especially true for non-institutional traders (institutional traders often have the benefit of immediate mentors, and guidance from their seniors, as they learn the ropes).

John M. Bland, Jay M. Meisler, and Michael D. Archer have put together a superb framework – particularly for new-to-intermediate traders – on which to build a viable FX trading approach. They bring years of experience, supported by concise (and quite readable) writing. I would also like to add that though I have been trading FX for a decade, and stocks for much longer, I learned a good deal from the book.

In addition to the book, they also introduce the reader to the Global-View FX trading community (at http://www. global-view. com ). This is the preeminent foreign exchange discussion site (it is not a “chat” room, and is moderated sufficiently to remove non-constructive postings while encouraging frank and open discussion). While it is largely professional, it is very open to the new trader (partticularly through it’s Help/Learning section), and to those traders (both in FX and otherwise) looking for grounded interpretations of our current economic state.

All in all, my only beef with the book is that they didn’t write it ten years ago. It would have saved me a fair bit in tuition from the School of Hard Knocks. But, as I read the book, I realize it’s never to late to learn

Rating: 5 / 5

These guys were beating the forex market before many people even knew of its existence, and custom building blogs and forums for their worldwide Global-View community to enjoy well before these web phenomena became commonplace. A must read for forex traders and researchers, or anyone who is looking to gain the kind of valuable insights on the topic that are only found through long experience.
Rating: 5 / 5

Marketiva gives you 5$ real to start trading so you don’t have to deposit and if you made profit from it you can cash out, this is why it’s very good for beginners. Their platform is very easy to use and they have support during trading hours.

To open your account please visit http://www.marketiva.com/index.ncre?gid=3371

PS: it’s not automated, you have to trade by yourself. You can practise with virtual money or with the 5$ they give you.

The best automated forex trading software may not exactly come cheap, but if you are just starting out you have a lot of free options available to you. You can visit online brokers which offer demo and free accounts which you can use to practice your skills on, as well as learning software to help you get started.

Some sites may require a small startup fee, which you don’t have to worry about if you plan to go forward and start your very own account. You can also go for internet-based automated forex trading software. One advantage of this type of currency trading software is that it is accessible where there is an internet connection.

That means you can still check-up on your stocks even while on vacation. Another perk is that there is no need to store important data on your pc, which can be lost in the unfortunate event of a hard disk crash. If you are hesitant about relying on your own judgment when it comes to choosing an forex trading software, you can ask for assistance from your broker or dealer. He or she may be able to recommend software which will work best with your type of investment.

Another tip is to ask fellow brokers by posting your queries on the forums. Forums are the best places to network and get your questions answered the quickest. You might also get a few tips from fellow forex brokers on what currency trading software to avoid.

So, then the question was: “Which book do I buy?” Because it seems that most Forex books seem to be pricy, I was nervous about picking the “wrong” one that might either be simply bad, or not as complete as another that I could’ve chosen. Anyway, enough about my sentiments, but I mention it because I’m writing this review to assure those of you who are new to Forex, that you can take it from me, another “newbie” who is trying to get a good solid foundation, that I believe this book was a very fortunate, and excellent choice for me. I almost didn’t pick it because it is prsently July 2009, and the book is copyrighted 2006. But the info is still very pertinent and relevant. The book is also well-written with clear examples to illustrate the concepts.

Yes, the book offers a good, concise history of currency exchange and Forex, etc. But what I really got the most out of is the explanation of the fundamental analysis (FA) factors that can influence the Forex market. It is somewhat less focused on technical analysis (TA), but it does have enough to give you a good understanding of some of the most useful technical tools. That was fine with me because, as the book points out, you can get too bogged down with too many technical analysis bells & whistles. I also had a better grasp of TA already from other sources. Anyway, I don’t mean to say it is light on TA, but it I felt it is heavier on FA, which was just what I needed since in my opinion TA is easier to grasp once you’ve studied it. The authors actually recommend a two-pronged approach where FA and TA compliment each other, which is wise.

I also thought that the chapter on Support, Resistance, and Fibonacci analysis was very informative. Then to round out everything they offer 5 sound trading strategies that have been historically proven as effective. Maybe its not news to a more seasoned trader, but for a guy like me ready to dive in, it gives me some good principles to start with. It also has good chapters on money mangement and risk/reward.

For all of these things I give it 5 stars, and I’m even giving it a 6th star because the author offers an incredible wealth of supplemental information for free on his own website. Yes, unlike some “gurus” that refer you to their website so you can pay them more money to subscribe to their trading tips, this author provides an abundance of info that has helped me further my knowledge. There are daily analyses of different currency pairs (kind of like watching the weather forecast except for currency pairs!), an easy to read “score card” of what fundamental factors stack up against each other for each currency pair, and some really great continuing education info with very good video examples of the concepts in action. Oh, yeah, and don’t forget that it its basically offered out of the goodness of the author’s heart I guess (ok, I know, I’m sure he gets paid by all of the advertising on his website!) But it seems like somebody with no ulterior motives who is genuinely interested in helping people learn & profit from the Forex market. [. . . ].

So, 6 stars from me. And thank you John Jagerson and Wade Hansen for giving people like me such a great book, and continued support on your site.
Rating: 5 / 5