Wednesday, October 19, 2011

Forex in the ocean of knowledge

       
Schwager, Williams, Demark - a classic of the genre in the forex market. Unfortunately, the number of books read even the most famous traders will not affect the success of commerce beginners. Why? Yes, because in all the books contain material synthesis.
Of course, some authors do not skimp on the secrets and put them into a book. But one way or another description of his own trading system or tool author is usually kept secret. And lifts the veil of secrecy in a chapter or two, no more. And there are some books you can on one hand to count.
In addition, much of the literature published on trading in the last century. And then describe the mechanisms of trading. After all, forex is only 40 years old. All authors of books on trading stocks in the first place did nothing but theory as shifted from the stock market on the exchange. But the markets are changing and are subject to its laws. Together with them, changing crowd psychology and its methods of trading.
Nevertheless, the book of trading certainly broaden the horizons of consciousness. But not for the fact that the knowledge derived from them to hold out in memory. Our memory is imperfect. As in any science, the Forex market has its own terminology. Each author - his advice to trade. And even if you memorize by heart all the terms and start trading blindly on the advice of the authors of the books, then there is no guarantee of success there. Because neither the author never reveals all its secrets, and even half of them for public use. In any book on trading strategy, there is no description of the miraculous recovery of an inexhaustible revenue. Oh, and do not forget that many of the books actually are published based on reprints of other books, except that there will be some addition. Just know you are about it only when you read someone's work and realize that there is nothing new in it was found.
In this regard, would like to give some advice for beginning traders. Read - read. But try to isolate themselves for the most important thing you can come in handy in the trade. In forex must rely only on themselves. And any authoring Trade adapt themselves. And not to drown in an ocean of knowledge, above all, read the popular articles about forex for beginners. You can find them on the site of any broker.
Reading articles and books on trading, you'll notice the contradiction in the characterization of trading tools. The effectiveness of any trading system depends on the personal predilections of the author, from his trading style and personal experience. It is therefore important to consider it, otherwise you can not logically build their own trade, and it will not bring you any profit or pleasure.
In the end, trading - the same art. And if you compare the trader to the musician, it is easy to imagine that without a knowledge of musical notation and musical instrument he can not perform no work. Here and in trading also need experience and a sense of the market.

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