The Forex Trading Course

A self-Study Guide to Becoming A Successful Currency Trader.

ver 30 years ago, Abe Cofnas was a student of mine at the University of California at Berkeley. At the time, I am certain to have delivered a long-held admonition: 95 percent of what you read in economics will be either wrong or irrelevant. I am pleased to report that The Forex Trading Course falls into the 5 percent residual category of materials that are worth reading.

In addition to satisfying those with a healthy obsession to work on improving their professional skills, The Forex Trading Course will force readers to think outside the box and to develop an appetite for the pursuit of knowledge about trading. This, of course, is the most important aspect of the book and reminds me of an observation made by Sir Hugh Rigby, surgeon to King George V. Sir Hugh was once asked, “What makes a great surgeon?” He replied, “There isn’t much to choose between surgeons in manual dexterity. What distinguishes a great surgeon is who knows more than other surgeons.” The same can be said for traders.

In the interest of putting the reader a leg up, an understanding of the structure of exchange-rate regimes is essential. There are three distinct types of exchange-rate regimes—floating, fixed, and pegged—each with different characteristics and different results.