Today I am reviewing the book Adventures of a Currency Trader by Rob Booker. This book is probably unlike any other trading book that you have ever read before. I know that was the case for me.
The subtitle of this book is A Fable about Trading, Courage and Doing the Right Thing and if you have any doubts, yes it really is a fable. Yeah, that turned me off at first too. However the ratings on Amazon.com were really high, so I figured it at least deserved a second look. But how in the world is a fable going to help me get better at entries and exits in the forex market?
Actually it doesn't, at least not in the way you would think. What makes this trading book different is that it delves into the psychological roller coaster that every trader must deal with on the way to profitability in a way that is both easy to read and all too easy to relate to.
Adventures is the trading journey of fictional character Harry Banes. Harry is every trader. He starts out by being lured into the forex market with the promise of a quick fortune and an easy way to quit a job that he hates with a passion.
He is initiated into the world of forex trading by purchasing a software package on late night TV that gives him automated signals to buy and sell. Financial freedom on a silver platter!
Eager to fire his tyrant boss, Harry installs the software on his computer at work with the help of Scott, the mail clerk. He starts trading immediately and as beginner's luck would have it, his first few trades are wildly successful even though he does not know anything about how the forex markets work.
Then as you can guess things start to go very wrong. Forex trading starts to consume Harry and he soon loses his entire account and is fired from his job.
However fate is not without a sense of fair play and as a result of the job the Harry hated so much, he had the good fortune of meeting some very successful forex traders. His passion and determination to become a profitable forex trader help him to create opportunities to learn from these mentors. With their help and lot of hard work, he attempts to turn his life and his trading around.
Of course I can't tell you what happens next, but what I can tell you that I thoroughly enjoyed this book. It is an easy read and I could not put it down, ending up finishing it at the end of the day. The lessons you learn from this book cover a much wider scope than the other trading books out there.
It addresses questions like:
- When is the best time to trade?
- Who can help you become a better trader?
- What does it really take to become a successful trader?
- Why is honesty the most important discipline to have in life and in trading?
- How much of my profit should I withdraw at the end of the month?
Small details that are not necessarily addressed in other books but important questions to be asking yourself if you want to trade forex for a living or at least derive a significant income from it.
I would highly recommend it to anyone wanting to be successful in the forex market or any other trading endeavor. Find out more by clicking here.
Special thanks goes out to the kind folks at John Wiley and Sons Inc.