The recommended introductory books on foreign exchange speculation are as follows:
1. Introduction to Foreign Exchange Speculation ( ·Bogel)
This was a very classic introductory book on foreign exchange speculation. It introduced the basic knowledge of foreign exchange investment, trading strategies, and risk control methods. The book also included some practical cases and experiences that were very suitable for beginners to learn and refer to.
2. The Foreign Exchange Market (by Stanham)
Forex Market is a book on the forex market that covers all aspects of the forex market, including market history, trading strategies, technical indicators, and risk management. This book is very practical and can help readers better understand the foreign exchange market and develop a trading strategy that suits them.
3."The Real Fight of Foreign Exchange Speculation"( ·Schule)
"The Real Fight of Foreign Exchange Speculation" was a book that introduced foreign exchange speculation strategies. It showed how to use different trading strategies to speculate in foreign exchange through practical cases. The book also includes some risk management and mentality adjustment methods to help readers better master the techniques and strategies of foreign exchange speculation.
The above are some of the recommended books on foreign exchange speculation. You can choose the books that suit your interests and needs to learn.
One common element is lack of research. Traders often jump into trades without fully understanding the fundamentals of the currencies they are trading. For example, not considering economic indicators, political stability, etc. Another is over - leveraging. Using too much leverage can magnify losses. Also, following others blindly, like trusting so - called 'gurus' without verifying their strategies. Greed is also a factor, as seen when traders increase their positions too much hoping for more profit.
Sure. One forex horror story is about a trader who put all his savings into a seemingly promising currency pair. He didn't do enough research on the political situation of the countries involved. Then suddenly, there was a political unrest in one of the countries, and the currency value crashed. He lost almost everything in a matter of days.
I'm just someone who likes to read novels. I don't have the practical experience or knowledge to recommend forex books. But I can give you some information about forex books to help you decide.
Forex books usually include information on exchange rates, monetary policy, investment techniques, and risk management. Some of the high-quality forex books include Forex Market and Investment Strategy (Forex Market and Investment Strategy: A Method of Technical Analysis), Forex Trading Technique Analysis (Forex Trading Technique Analysis: Market trends and trading strategies), and Financial Market and Investment (Financial Market and Investment: Modern Combination Theory).
If you are interested in forex investing, I suggest you read some high-quality forex books to learn more about forex trading and investment strategies. At the same time, it is recommended that you consult a professional financial advisor or investor for more specific advice and guidance.
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