Foreign currency trading attracts more and more investors, forex books and forex reviews. Here is one you should read – the review and the book. There are many lies told about forex. It's better to learn some 'home truths' right from the start.
The forex market is 'lion country'. Bird watching in lion country can be a very rewarding, but also costly experience.
"Bird Watching in Lion Country 2010 Edition" is a downloadable, easy-to-read best-selling e-book containing 340 pages; considering what you are likely to lose if you start forex trading without proper understanding or guidance. Buying "BWILC" is a small outlay – less than $100. People have spent (and wasted) years and often thousands of dollars on 'training programs and courses' and 'systems', each one promising to be the only way to make serious money on forex trading. But 'forex truth' is different. Yes, there are some very successful traders, but their successes were not immediate, and they comprise possibly 10% of all forex traders. Everyone else's money goes straight into the pockets of brokers and self-professed market gurus and internet marketing wizards, most of whom have never traded themselves. They have cleverly designed campaigns dedicated to relieving you of a lot of money before you begin to realise the truth about forex trading!
Not everyone involved in the forex business is a crook or charlatan, of course. But you must be very wary and suspicious of much of what you read on web sites or receive as email. There's no short cut or 'quick fix' that can guarantee instant success with forex trading, including this (or any other) book or trading system. Read it and you'll begin to understand. Follow the principles and you have a good chance of reaping your own rewards in the future.
If you're already trading, or considering becoming a forex trader, do yourself a favour and get Bird Watching in Lion Country. Read it more than once. Study the principles and follow Dirk's advice before you even think of going 'live'. You will have a better chance of recovering both the outlay and your trading losses. Given time and experience and adding (but not relying on!) a bit of luck, you will start to make a profit like the select few – possibly ten percent of all – forex traders. There's an old saying: Forewarned is forearmed. It definitely applies to forex trading. Due diligence is also required. You need to be sure the broker is reliable and fair. Look for reviews. Learn more about due diligence software dataroom24 at http://www.dataroom24.com
In Bird Watching in Lion Country the author, Dirk du Toit explains his 'take' on the forex market, based on his own experience as a trader and mentor. His approach is 'out-of-the-box' – subscribing to most traditional market wisdom – but with a twist. For instance 'cut your losses and run your profits' is one of the most bandied-about trading principles. Dirk writes "From my outside-the-box approach I certainly do not differ from the principle that your first loss is your best loss. But if your 'cut my losses' is in effect 'stop your profits', well then you are going to have a hard time making money."
About the Author
Dirk du Toit is based in Pretoria, South Africa where he heads DayForex Capital Management, which specialises in the forex investment market. DayForex focuses on the trading of forex investments on behalf of clients and mentoring of self-directed forex traders.
After qualifying with an M.A. degree from the University of Pretoria, Dirk joined the financial services industry as an advisor in 1991. In 1998, as a primary source of income, he started trading on his own account in the global financial markets. His areas of focus were bonds traded on margin, equities and, since the advent of retail forex, currencies.
Since the beginning of 2001 Dirk has focused mainly on sharing his trading acumen with prospective self-directed traders interested in the forex market, while preparing the groundwork for DayForex Capital Management – these days a discretionary forex services provider fully authorised by the South African financial authorities.
Dirk du Toit is the Chairman of the Forex Investment Association in South Africa and an Associate of the Financial Planning Institute. He also holds the International Capital Markets Qualification from the Securities Institute in London.
Dirk has written two e-books on foreign exchange: "An Introduction to the Foreign Exchange Market", and "Bird Watching in Lion Country - Retail Forex Trading Explained" – a 'must have' book for anyone trading or intending to trade in the forex market. So do yourself a favour...
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