Trading in the foreign currency exchange market is tough and risky, requiring a great deal of knowledge, research, and commitment to become successful. Many, many books are available to teach you about the details and nuances of trading in this market, but they may not be enough all on their own. Many people find that having access to multiple resources, written in a variety of ways, give them the depth and breadth of knowledge they truly need to trade on the FOREX market. If you are one of those people who prefer using several different resources, Adventures of a Currency Trader is certainly a “must have” for your trading resource library.
An author with a unique perspective
The author of Adventures of a Currency Trader, Rob Booker, brings to this work a unique perspective. Before becoming a recognized expert in foreign currency exchange trading, he bounced around from job to job to job. He was a lawyer, he was a recruiter for CPAs, he was a roofer, he printed and silk screened t-shirts, he launch an advertising agency, and sold magazines (just to name a few things). The one thing all of these jobs had in common was that Booker was fired from each one.
Lots of people test out different careers and job tracks early in life, but very few do it as often and as long as Booker. From his standpoint, none of those jobs were worth mourning or missing in any way because he did not like doing any of them. His goal in life was to keep looking until he found a career that was enjoyable, challenging, rewarding, and that would allow him to truly be happy in his work.
Eventually he discovered foreign currency exchange trading, and for the first time he had found something he found enjoyable and fulfilling. It wasn’t all smooth sailing, however; in fact, he faced enormous obstacles and challenges along the way to becoming successful. These obstacles and challenges, however, gave him the knowledge he needed to go on to bigger and better things. They also provided the background and experiences necessary to write Adventures of a Currency Trader.
Not your normal foreign currency exchange trading book
Now, Adventures of a Currency Trader is not your normal book about how to master the art and science of foreign currency exchange trading. Instead of being written in the traditional non-fiction format, complete with statistics, theories, and best practices, it is written as a work of fiction; a fable, to be exact, using a fictional story to teach valuable lessons to the reader. It may not be as famous as “Goldilocks and the Three Bears” or “The Three Little Pigs”, but the messages and principles shared in Adventures of a Currency Trader are just as powerful and important if you want to succeed as a trader in the foreign currency exchange market.
In Adventures of a Currency Trader the lead character is Harry Banes. He is fictional of course, but his experiences and adventures reflect the same experiences and adventures of the author. Even more importantly, it reflects the valuable lessons and principles the author learned along the way and shares them in a way that is easy to read, easy to understand, and quite enjoyable as well.
Harry Banes starts out as a file clerk in a New York City law firm and ends up as a full time independent trader on the foreign currency exchange market. His path is certainly not a smooth one, as he makes all kinds of common novice trading mistakes that lead to many, many failures. What keeps Harry Banes going, however, is a determination to succeed and the wherewithal to find high quality mentors to share their best advice and guidance.
Harry’s trading career begins when he watches a late night infomercial promoting how “easy” and “profitable” it is to trade in the foreign currency exchange market. He of course invests in the “trading system” being sold by the infomercial, falling prey to inaccurate information and completely unachievable goals fuelled by unreasonable expectations of success. There are ups, there are downs, and there are lots of “lessons learned” the hard way in this story. But throughout the fable, key principles of successful trading are expressed and emphasized, helping the reader to absorb them in a way that is fun and effective.
What are the key lessons and principles in the book?
The fable Adventures of a Currency Trader contains many key lessons and principles that every foreign currency exchange trader must understand and apply in order to be successful. Among the most important of these presented in the book are:
This is by no means an exhaustive list of the valuable lessons contained in Adventures of a Currency Trader, but they should at least give you an idea of what you can learn from this excellent book.
Where should this book fit into your learning and research?
Some who read this book might not see right away where it should fit into the larger task of learning and research related to foreign currency exchange trading. After all, it does not contain detailed charts and statistics showing you the variations and nuances of technical analysis. Neither does it provide detailed information about currency options, currency pairs, currency futures, fundamental analysis, and the like. Without all of that meticulous and exhaustive information, it’s just a light hearted story, right?
Yes, it is a light hearted and entertaining story, and that is precisely why it is so effective and so important to your trading resource library. You of course have to master the details of foreign currency exchange trading, but it is easy to become so focused on the specifics that you lose sight of the “big picture” all around you. A fable such as Adventures of a Currency Trader is a wonderful addition to your trading resource library because it is a quick and easy read that serves as a terrific reminder of how important it is to have a “big picture” perspective at all times.
Final thoughts
Most informational books about foreign currency exchange trading are quite technical and detailed, as well they should be. You would certainly not want to enter the risky world of currency trading without very specific knowledge about the process. At the same time, though, your brain does not function at its best when filled solely with facts, figures, and statistics. It needs some creativity and fun from time to time as a way to rest, recharge, and refocus on the important principles of successful foreign currency exchange trading.
Adventures of a Currency Trader is the perfect book to fulfill that role. The story is entertaining and enjoyable, but the underlying message is perfectly in line with the principles and specifics of successful currency trading. It is not intended as a statistical reference or a step by step guide to currency trading; rather, it is intended as a gentle reminder now and then of the broader principles and approaches that make for a successful currency trader.
If you are a beginning trader, Adventures of a Currency Trader will help you recognize and avoid common novice mistakes as you go further into currency trading. If you are an experienced currency trader, Adventures of a Currency Trader will remind you of how far you have come and how important it is to stay true to the correct principles and approaches to currency trading. You will probably recognize yourself in at least some portion of the story, which is terrific because when you make that recognition you are far less likely to repeat those same mistakes again.
All in all, Adventures of a Currency Trader is an excellent addition to your library. Be sure to read it periodically so you continue to benefit from the valuable principles demonstrated in this fable.