Trading FOREX While Maintaining Your Job

More and more people are interested in trading and more particularly in FOREX. It is true that making trading its main activity means high salaries and ideal working conditions (by the sea, in the mountains, abroad…) for many people. However, many apprentice traders fall into the trap of the financial

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Germany is concerned about a risk of Brexit

For some time now, the controversy surrounding the possible voluntary exit of the United Kingdom from the European Union has been in the media and has led to numerous political negotiations. Indeed, Brexit, the abbreviation “British Exit”, would have important repercussions on the European economy

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Gold Wars: The Battle against Sound Money As Seen From a Swiss Perspective by Ferdinand Lips

gold bullion

A glimpse at one of the best books ever published for gold A Swiss banker for 50 years, Lips reveals to us in this book the fascinating history of gold, why it’s the only monetary medium that no government can escape, and its strong connection to a country’s freedom. gold bullion Despite being published in 2005, gold investors still consider Lips’ book as a necessary literal piece for those who want to achieve a deeper understanding of the gold trade. The advancements of investments over the last decade are well documented in the book, including the historical, political, and economical impact of events to the precious yellow metal.

Today, financial experts like Marine Le Pen, James Rickards, and influential economist Steve Forbes have all called for a return to the gold standard. While their explanations revolve mostly around providing a solution to the impending collapse of currencies, Ferdinand Lips’ reason taps into the million-dollar question: “What if?” According to Lips, if the gold standard hadn’t been abolished by former U.S. President Nixon, the world’s currencies wouldn’t have been destroyed, there would be no Great Depression, and WWI would’ve died on its own. In short, Lips’ theory is that the modern world started collapsing when the precious yellow metal was detached from fiat currency. “If the countries at war in World War I (WWI) had not hastily and foolishly given up the gold standard, WWI might not have lasted more than six months, because the warring nations would have run out of gold to pay for it…If WWI had lasted only six months, currencies would not have been destroyed…Without the mishandling of gold, there would never have been a Hitler…nor would Russia have had to endure a Stalin…There would never have been a WWII…The suppression of gold and the unlimited expansion of Fiat money have led to the monetary, economic and political crises and wars of the twentieth century.” Ferdinand Lips’ magnum opus was widely praised by academics, geologists, traders, and professional investors around the world. The book not only presents his extensive knowledge about the gold trade but also incorporates the inspiration he took from learning from legendary analysts such as Julian Baring, Professor Peter Bernholz, James Dines, and Ex-Federal Reserve banker John Exter. Gold Wars is a good read for investors who have some basic knowledge of gold investment. If you’re a beginner in gold investing, you may want to read the selection of books for beginners recommended by, in order to have a more stable understanding of the market. You may also want to read “End the Fed”, a book written by Ron Paul, in order to better understand Ferdinand Lips’ masterpiece. End the Fed is among the books recommended by BullionVault for providing plenty of gold buying information to its readers, including information on fiat money’s connection to gold and World War I. Buy Gold Wars: The Battle against Sound Money As Seen From a Swiss Perspective by Ferdinand Lips here

Review of The E Myth Revisited – Why Most Small Businesses Don’t Work and What to Do About It by Michael E. Gerber

gerbernewsDid you know that almost 7 in every 10 new small businesses in 2013 failed within the first 2 years of their startup?  This is a real estate book but it mainly focuses on using a fictional entrepreneur profile who starts a pie shop but she has to deal all the difficulties of a small business entrepreneur to the point of burning herself out without actually getting as much returns as she deserves from the business.  Michael Gerber in this book published in January 1995 demonstrates that for a business or a company to be successful, they shouldn’t sell the products they make, they would just be fulfilling the emotional demands of the clients.

” The E Myth Revisited ” has  been described as the perfect guide for small business technicians, entrepreneurs and managers, to show them how business can succeed when the businesses focuses only on what it is good at.  For instance, he uses Southwest Airlines as a good example of a successful company, which, though it generates its income through the sale of tickets, it does not handle ticketing and instead focuses on providing quality travel services to clients.  The book goes further to the economic systems and especially the workplace environment and how an average employee can get rid of the notion that work and business is a disliked place because people come there to waste their lives.

Among the most intriguing arguments in his book is that in order for a business idea to work, you must have a ‘primary aim’ in life, not just business first, because without it even the best entrepreneur can get consumed.  The strategic objective will be what you want to become of the business to fulfill the requirements of the ‘primary aim’ in life.  It also puts a lot of emphasis in how to analyze an opportunity when it presents itself and using modern available tools to assess the profitability of a venture.  This section is what makes this book one of the most educative and easily explained real estate reads suitable for novice and intermediate entrepreneurs.

Of greater importance is that Michael Gerber, the author, delves into detail to bring out some of the least discussed business strategies and approaches including how to merge talent with the system, how to turn training into a game, measuring and estimating anything at the first glance and the importance of scripting everything in order to make achieve more predictable or consistent results in business.  After all, the idea of a business is a secure and ever-growing income source.

Despite all the good things positive reviewers write about this book, quite a number of Amazon reviewers view it as an out-of-date manual written by a washed up entrepreneur now surviving by writing, lecturing and making inspiration CDs.  It depends on what kind of entrepreneur you are, if you believe there is always something positive out of any publication, then you should consider reading this book before you enter the real estate market.

Review of Come Into My Trading Room: A Complete Guide to Trading by Alexander Elder

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If you already read Alexander Elder’s best seller, ‘Trading for a Living: Shifting focus from technical analysis to the overall management of a trader’s money, time, and strategy’ you will agree with me that Dr. Alexander Elder is a widely traveled man, both in life and in business, and how he tells it is kind of special.  In this book, Dr. Elder expounds more on questions raised in his other trading books and takes the reader through the fundamental secrets of success in forex trading, how to identify new opportunities and using little-known indicators to make a trade profitable.

This book is a complete guide to trading for almost anyone with interest in FX, from the beginner who just found out about the global money market to the seasoned professional seeking new methodologies or trying out new trade experiments and need a reference point.  The book is a fresh look at the 3 Ms – Mind, Method and Money and goes in-depth to explain the strategies and money management services that will make a difference.

Dr. Elder wholly reviews the basics of trading in futures, options and stocks besides forex to expound on the whole principle of buying and selling money to make money and also covers the essential psychological tactics every successful trader needs to know to be organized and become successful in this book.  He believes that by showing a prospective or current forex trader that the best ever combination that wins every time is that of the 3 Ms, and mastering them is the perfect solution to being confident, taking bigger but worthy risks knowing how to trade and finally exiting the trade with significant profits.

Dr. Alexander Elder himself was not born a forex trader, he attended medical school in Estonia and worked as a doctor in a Russian ship before seeking asylum in the US and thinking that there are better ways to earn than working harder.  When you pick up this book, you will read about his journeys and tribulations but you will also learn from his mistakes and miscalculations.  He added a lot of new material about himself and about FX in general in this book that was published in 2002 including the less technical methods of analyzing opportunities, more on money management and new materials on the personality and thinking of a successful FX trader.

The book has many interesting methodologies, but its strength is in the details of trading rather than making a plan or managing risks.  If you are lost as to which trades to pick or cannot seem to make the right decision on choosing your markets, this may not be the best book for you because Dr. Elder does not dwell much on how to choose the trades but rather provides the general rules and guidelines to follow.  This being a guide, I would expect more detail but then, I can’t say I have read all his books.  If you liked any of his previous books, you will most certainly find a comfortable spot once you are invited into Dr. Alexander Elder’s forex Trading Room.

Top 5 Currency Trading Books You Will Love

I would be right to say that books are the best source of information to gain knowledge on a specific field, no matter how easy it is to find it on the internet.  If you are learning to secure your life through Forex trading and are looking for information, tips, advice and tricks from a professional, I wouldn’t recommend you read blogs and websites by self-proclaimed internet billionaires with tons of affiliate links on the home page; Buy a nice highly reviewed or recommended book and get first hand unadulterated information and knowledge you need to make a difference in life.  In my opinion, the best 5 currency trading books you should start with are:

7 Winning Strategies for Trading Forex by Grace Cheng

indexGrace Cheng is a full-time forex trader with advanced knowledge in fundamental, technical and sentimental analysis and the creator of the PowerFX Trading Course.  The author of this book, as you can see, is a success story in forex and this book is considered an ideal guide book in improving your trading skills.  The book focuses on teaching you how to come up with winning trading strategies, how to minimize risks and when and when not to trade.

New Concepts in Technical Trading Systems by J. Welles Wilder Jr

stockcharts_2160_4667943_largeThis book is perfect for traders who already understand all the basics about forex.  However, even beginners can find it useful because it is well illustrated and teaches 6 different definitive and truly unique technical trading systems which is more than an average trader knows.  Wilder says that no serious trader should assume there will be consistent profits in both non-directional congestion and strongly directional markets, you should therefore master trading in any situation.

Day Trading & Swing Trading the Currency Market by Kathy Lien

index2This book was written by the director of Currency Research of GFT and and in it she presents a wide variety of basic and technical profitable strategies in forex trading that you will find very useful and simple to learn.  It is one of the most recommended forex trading books largely because it describes everything important in forex trading and covers important elements like interest rates differentials, inter-market relationships, news events, option volatility and intervention by central banks.

Trade Your Way to Financial Freedom by Van K. Tharp

index3This book focuses on making you make money, do not be surprised then when it is such an easy read that doesn’t go so deep in detail.  However, Van K. Tharp is a renowned and celebrated bestseller and he wrote this book mainly to address the concerns of a modern market environment.  The book features charts and updated examples, it helps you look into yourself and put aside personal biases that affects your trades and generally makes you a better trader.

The 10 Essentials of Forex Trading by Jared F. Martinez

index4The 10 essentials of forex trading, rules for turning trading patterns into profit was written almost a decade ago (in 2007) but I assure you that this book is worth buying especially if you are a novice in forex trading.  It is a very interesting read and most forex traders find that it has knowledge passed down from experienced traders and penned by one of the most proficient currency traders of the last decade.

Top 3 Investing Books for Beginners

Where does a beginner or prospective investor armed with determination but lacking technical information wishing to get into investing start?  Well, this is one of the biggest problems that many people have to face when considering investing because they do not know the basic information besides what is available in blogs and forums.  If you want to be a serious investor, you need a serious guide that will turn you from a novice to a pro.  In my opinion, the top 3 investing books written by experienced investors you absolutely have to check out are:

Learn to Earn: A Beginner’s Guide to the Basics of Investing and Business by Peter Lynch & John Rothchild

s7056484If you are the kind of person who likes to be thorough in what you read, this beginner’s guide that covers the principles of investing in light of the modern economy may be the perfect investing book to use as a guide.  According to Lynch and Rothchild, our education system failed us because we are not taught the basics of the economic system and especially how to navigate the stock market, and this is why they came up with this simplified handbook.

This book is written for the younger investors and is considered a primer that is both entertaining and enlightening for persons of a high school age or older but even if you have experience in business, I guarantee you there’s something you will learn you’ll be surprised you didn’t know.

The Intelligent Investor by Benjamin Graham

Benjamin_Graham_-_The_Intelligent_Investor_-_The_Definitive_Book_on_Value_InvestingFirst published in 1949, The Intelligent Investor: The Definitive Book on Value Investing is a critically acclaimed investing book that introduced a new approached called value investing, something that played a significant role in shaping investing over the past 60 years.  Benjamin Graham is an acclaimed author and one of the greatest investment advisors of the 20th century and his book is a guide you can use to protect yourself from common and uncommon mistakes and therefore shield yourself from the losses resulting from these errors.

Something else you should know about this edition of the book: the preface is written by Warren Buffet and a comprehensive introduction that elaborates what you should expect in and from the book is a perfect appetizer to get you in the right state of mind.

Extraordinary Popular Delusions and The Madness of Crowds by Charles MacKay

extraordinary-popular-delusions-madness-crowds-charles-mackay-paperback-cover-artThe Extraordinary and Popular Delusions and the Madness of Crowds is another classic book that most successful investors say is worth reading twice or more times.  You will get an illuminating and entertaining view of the most popular swindles of all times such as “The South-Sea Bubble”, “Tulipomania” and “The Mississippi Scheme” and how they were the most effective investments at that time.

The book teaches you to become an investor in person and not just try being one.  If you are capable of coming up with an investment idea, this book will show you how to not be one in the crowds that have taken madness and confusion to whole new limits – jumping senselessly into speculated frenzies because of greed and how you can actually benefit off this group of people.

The 3 Best Real Estate Books in 2014

One of the traits of a great investor is the thirst for new ideas and information, particularly in their field of investment.  If you are looking to get into real estate or already are an investor but looking for ways to be even better, then reading real estate investment books is one of the best way to amass new information, tips and tricks and even learn to fix your errs.  With thousands of real estate books in the market, getting the best and most useful isn’t always the easiest thing but in my opinion, these are the 3 Best Real Estate Books you must read next.

2 Years to a Million in Real Estate by Matthew Martinez

26daff9bca37f3110521f0e48990b41aThis book has been coined the definitive guide to renting property and reaping big from it.  Most people who attest to the success of this book as an instruction manual say that it is the best tool to use to transform an average person – not rich, not very creative, a little ambitious maybe, and – armed with a credit card into a real estate investor in just a couple of months.

Matthew Martinez, the author, says he was just an average Joe working a 9 to 5 and paying his taxes, until he did something different.  If you follow his guide, expect to invest small amounts in hot properties (you’ll know how to find them as well), negotiate like a pro, know to target and screen tenants and make tons of money.

Building Wealth One House at a Time by John Schaub

428082Although ‘Building Wealth One House at a Time’ is over 10 years old, it has some amazing pieces of information you may not find anywhere else.  The foundation of this book is based on what the author, a pro who thrived in real estate even when everyone else was slumping, calls ‘a relaxed approach to building financial freedom’.  It sounds fancy but it actually means you will accumulate millions of dollars through high quality houses you will find in posh neighborhoods that will provide you with ever-increasing income for the rest of your life.

This book has made Billionaires, Google it.  But the most fascinating thing is that it teaches you to be your own boss, live and act like it by training you how to find the right houses, using the right terms to your advantage and identifying the best tenants.

FLIP: How to Find, Fix, and Sell Houses for Profit by Rick Villani, Clay Davis & Jay Papasan

cover250x312If you are a straight shooter and don’t like all the mumbo jumbo of sales, this is your kind of book, the one that tells you straight what to do and what to expect.  This is the third book in the National Bestselling Millionaire Real Estate series and has sold over half a million copies already.  It is also the most recommended book that provides information and methods most relevant to the modern real estate market.

You can refer FLIP as a handy guide that gives you the simplest instructions to analyze investments, identify potential improvements, accurately estimate properties in a fraction of a minute and take out all the guesswork to effectively eliminate risk.