Forex is a huge storage of foreign currency and exchange. Foreign exchange (Forex) is actually the system that converts one currency to any other currency. It can happen for many reasons: commercial purpose, trading, or very commonly for tourism.
Based on the recent report from the Bank for International Settlements, the average was over $5.1 trillion in daily forex volume. Here, you’ll learn about forex trading courses and some top books on it.
Investors who plan to get into foreign exchange can face a drastic fall, losing capital within a flash and optimism even quicker.
If investing in forex, it can prove fortunate as it can bring great opportunities. But, it’s a very distinct environment compared to the equities market. For getting the failures avoided by the stock traders, forex trading courses are available.
Various Forex Trading Courses
There are mainly two kinds of forex trading courses.
You can compare this type to distance learning in college, as many people do. There will be a guide or an instructor who will come up with different eBooks, PowerPoint presentations, trading simulations, etc.
You have three stages: beginner, intermediate, and finally advanced. For a trader with little knowledge of forex, it can be super valuable for his or her future. The course fees vary from platform to platform. It starts at only $50.
This is more specific compared to the previous one. You should have a basic knowledge of forex trading for continuing in this course.
A successful trader acts as your trainer here. He always explores different strategies and risk management processes with the students. But, he or she will spend a lot of time teaching by placing real trades. This training is a bit expensive, ranging from $1000 to $1200.
Top Books for Forex Trading
The course can be way more straightforward if you get some good books on this for yourself. Sometimes observing presentations or hearing lectures is not sufficient. So, books are necessary. Here are a few of the best books you can read to learn forex trading.
Currency Trading for Dummies
This masterpiece by Brian Dolan is the best book for the beginners, comes with clear presentations, and instructions that are easy to read. It is even quite a good book for the ones who want to revise the basic lessons they have already learned.
The financial media makes regular use of this book as a resource. It was published in the year 2011. The chief currency strategist, Brian Dolan, and the research director, Kathleen Brooks co-wrote this book. Both of them belong to forex.com.
How to Make a Living Trading Foreign Exchange
Smith is the writer of this book, his full name is Courtney Smith. It starts with the introduction to the world of forex, describing how the market runs. It includes mainly 6 strategies to earn a balanced income by trading. The book also comes with various important risk management procedures and also the psychology of trading. It was published in 2010.
Forex Trading: Breaking Down The Basics
Jim Brown is the author of this book. The name itself tells that it provides the basics of forex. The best thing about the author is he is a self-trained forex trader, so this book is written on the basis of various strong experiences as well. It covers:
- Forex definition
- Entrance-exit strategies
- Trading psychology
- Places to trade foreign currencies
- Selecting broker and more
Understanding the world economy is important to carry out forex trading. A quality course and a good book can make you a master in no time if you are a good learner. Hopefully, you got everything you wanted to know about forex trading. Focus, hard work, and a little risk can make your life full of prosperity. Good luck!