I lost a lot of money trading currencies when I first started out.  I thought the Forex was easy to trade just like the stock market.  I was completely wrong.  Trading currencies carry a lot of risk.  The market is extremely volatile.  Over $3 trillion dollars is traded on the Forex every day except Saturday. 

If you are thinking about trading currencies please do yourself and your wallet a favor by reading as much as you can about this fast moving market.

 There are a lot of great books out there that will assist you in trading the right way to minimize risk.  You will find below a few of my favorite books that help me to become a better trader and kept me out of the red on many of my trades. 

You can’t study this market enough.  It fast moving and you can lose a lot of money within a matter of minutes and even hours.  The more experience currency traders recommend a beginner spend at least 6 months trading on a practice account.  They also recommend that you read as much as possible on the subject of currency trading. 

The Forex is a very different market than the regular stock mark.  You can’t make money on the stock market all day and all night.  The currency trading market is open from Sunday evening to Friday night, 24 hours straight.  There are no breaks, except on Saturday.   The entire time the market is open you have the potential to make a lot of money.  The only way you can make a lot of money is to study day and night on the subject of currency trading.  This is not the market to take short cuts in.  Remember I lost money before reading up on the subject.  Don’t make the same mistake I did.