Book Review – Number 10

Filed under: Learn Forex Trading |

Over the next couple of weeks, I have decided to review each one of my favorite top ten forex-related books, and to provide a summary of the contents so that you can decide if you want to read them for yourself. I will do this in a countdown fashion, and I will start today with my tenth favorite forex-related book. When I say forex-related, some of these will directly address the issues of forex trading, but others will be more philosophical and tackle the mindset that is needed for forex trading. So here we go…

 

Number 10: “Peaks and Valleys” by Spencer Johnson (2009)

 

This book does not directly talk about forex trading, but there are a plethora of gems hidden away in the narrative that will not only help you with your trading, but in life itself. “Peaks and Valleys” is a fictional narrative about a young man who is unhappy with his life living in a valley. However, the young man meet an old man who lives on a peak and it changes his life.

 

There are a number of memorable lessons taught by the old man throughout the book and these are reiterated at the end of each chapter. For example, at the end of chapter one, the lesson is: “It is natural for everyone everywhere to have peaks and valleys at work and in life”. This is a good thing to remember when you are trading – that losses are a natural part of trading. This is also reflected in a quote in the book, which states: “Between peaks, there are always valleys”!

 

As well as feeding you these little nuggets that will stick in your mind, it is also a very entertaining little story. The book is not very long at just 101 pages, so you can easily read it in a couple of sittings. The only bad thing is that it does not come cheap at $19.95. However, for the wisdom that it contains, it could be considered as a bargain and you will no doubt read it more than once. I will leave you with my favorite quote from the book, which should help you with your trading. It is:

 

“The most common reason you leave a peak too soon is arrogance, masquerading as confidence. The most common reason you stay in a valley too long is fear, masquerading as comfort”

 

 

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