if you could only read one forex book

[Morpheus]

which one would it be? I'd like to do some more reading on forex but I don't want to waste my time with stuff that isn't helpful. By the way, if anywhere in the book it says, "when the macd is....." Or "when the RSI ...." .. I don't want to read it. I hate indicators. Since I've abandoned indicators, I'm actually winning now.

[palmtops]

I really like "The Secrets of Economic Indicators".

http://search.barnesandnoble.com/boo...32447290&itm=5

I bought this book when I was trading news spikes (which I rarely do now) but found the book helped me understand what really moves the Forex Market. The amazing thing about the book is that it's a lot less dry then you'd think.

You can read a review of the book here:

http://www.nabe.com/publib/be/0501/BE20050109.PDF

[Morpheus]

Thanks. That looks good. Does it discuss forex at all? I was also thinking about stuff from Alexander Elder since people seem to like him. I was kind of looking for something that would go more in-depth into elliot wave theory and how to spot corrections and diagram the price movement since I pretty much suck at it. Also, maybe even some software to do it on. What do you guys use to diagram price movement? I see doodi doing it and some others. I'd like to be able to predict future direction better without relying on forex websites for help. I saw the babypips website and I read that last year but it didn't make a whole lot of sense to me. They just said if it does this, then price is going this way but in the real world, things don't always look as perfect.

[Morpheus]

I got that "Secrets of Economic Indicators" book. You are right. It does have a lot of real world stuff in it.

[palmtops]

Originally Posted by Morpheus

I got that "Secrets of Economic Indicators" book. You are right. It does have a lot of real world stuff in it.

Very cool! It's a great book no matter what types of markets you trade but it has a great emphasis on Forex. What I like is how the author points out which market the report impacts the most.

Enjoy the book, it should really help your forex trading even during non news times.