FOUR CRITICAL BOOKS FOR TRADERS
Study the four books printed by the Federal Open Market Committee
Trading Forex is a process that becomes more profitable when the trader knows something that the competition is unaware of.
The FOMC decisions are the result of the meetings they make eight times each year and which are secret, so the Wall Street brokers and regular traders won’t get the chance to speculate.
If you wander what the FOMC stands for, it is the Federal Open Market Committee which has the final word on the direction of financial policy.
Four must-read books for Forex traders
As a result, traders are willing to do anything to be the first to know about what has been decided in these meetings, and the best way to do it is to learn aout what these books contain, before others.
The Beige book is now 40 years old and is printed eight times each year, just two weeks before the Federal Open Market Committee meets.
This binary option book summarized the information the committee receives from local economists and banks, with the FED preparing the report.
Knowing more about what it contains can help you make the right choice when trading and if you do your fair share of research, this critical data won’t elude you.
Another book that is prepared just a couple of days before the Federal Open Market Committee meets is the Green Book, which has a two pronged approach.
On one hand it explains how the US economy is faring, how the interest rates evolve and which the direction prices took lately was.
The second part is more exciting for those trading Forex as it focuses on the trends in various areas, which disclose sensitive data about underlying assets.
Judge the books by their colors
A lot of emphasis is placed on details and with each sector being presented individually, the one trading online options can learn a lot about very specific assets.
Not even the international markets are ignored and this makes the Green Book, one of the most important books for those trading currency pairs.
It is followed quickly after by the Blue Book, which contains similar information but takes things to a different level, by adding alternative policy situations for a determined period.
Such estimates could be very useful for the ones dealing with binary options, who use the fundamental analysis.
The data included in these binary options books could back up or shatter their beliefs and help them make a better choice.
Last but not least, we have the Red Book, which despite the provocative color is the least exciting one. It deals with the sales of 30 retails, analyzing both the upcoming month and the last weeks, but all with far less impact on the online options trading than the other binary options books.
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