Day Trading/Trading Forex
I am interested in trading in forex market. There are many books on the subject. How do I get to the essence of trading and avoid all the non-essential peripheral material?
Thanks for your question, and apologies for the late reply. I have been away.
It's an interesting question, and one that I can completely understand the motivation behind. There is just too much stuff out there, and so much of it is skewed by commercial need rather than educational offering.
One of the key factors in answering is deciding for yourself what is extraneous. That can take some time, as there are so many different ways to trade and there is, among all of them, a right way for you. It can take some trial and error to get there, but basically you follow your gut until you find one that works best for you.
I always recommend that people start with babypips.com. Once you have the basics handled, you have a better idea of how you want to trade and you can proactively seek out methods that will suit you. I always guard against seeming 'get rich quick' solutions and 'sure fire methods' for the simple reason that if they worked, everyone would be using them. The really successful traders don't have a need to sell you methods and most of them won't be on forums or in chat rooms - so I avoid them as well. Better to concentrate and avoid distractions.
Trading is as much about mindset as it is about technique. The simpler the techniques, the less challenging it is for your mind, so I always recommend something that works well for you in both respects. The best technique in the world won't work for you if your mind is in the wrong place!
I hope this helps and get back to me if you need more.