I was thumbing through the April 3rd edition of Business Week and in the Personal Business Investing section there was an article titled “The Currency Game: Home Version” by Adrienne Carter. The article summarized forex trading and then painted a brutal picture of forex. Forex trading can be a brutal business, but is giving your hard earned money over to a money manager just because you have not taken the time to get financially educated is even more brutal!
On first glance I was glad to see forex being introduced in a mainstream business publication. It also reinforced a psychology lesson I had back at my days at Arizona State University …
Think critically about what you read. Know the sources of your information and project yourself into views of the authors. After that form your opinion based on the facts. I think far too many people take things at face value!
The article was sounded a warning signal about trading the forex market. Addressing the symptoms (forex risk) without truly identifying the root cause (lack of investor education) in my opinion does a great disservice to the readers. That is why this blog and my sites (FX Trainer and FX Trade Central) are dedicated to forex education.
It is just like looking at the technicals while having an understanding of the effects of the fundamental. Learning to evaluate information from many angles without over-analyzing is a great skill to utilize in your trading.
Happy Trading!
Tuesday 4 April 2006
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