OREM, Utah, Nov. 19, 2012 /PRNewswire/ -- For newcomers, Forex trading is a potentially lucrative, yet dauntingly complex, activity. Javier Paz, one of the best known online trading industry analysts and a veteran FX trader, offers beginners and intermediate traders a clear path to reach trading proficiency.

In The Forex Trading Manual (McGraw-Hill; Hardcover and eBook formats: US$35), Javier Paz boils the complexity of FX trading to a few basic elements, including: an overview of fundamental and technical analysis, a proven trading strategy, a detailed trading plan, and a robust understanding of trader psychology. Additionally, traders will learn valuable lessons on trade size rules and risk management.

Following his past experience as a supervisor of money managers at a brokerage firm and to his lengthy FX trading experience, Javier Paz believes there are right and wrong ways to approach FX trading. Written in a refreshingly easy-to-follow style, The Forex Trading Manual makes the case that learning to trade is much like learning to drive: it takes some time to master, there are rules that should be followed consistently, and emotions should always be kept in check. "What guided me while writing this book was that I kept my own teenage children in mind… for them to reach the proverbial pot of gold, while sidestepping various pitfalls traders succumb to, the message had to be delivered clearly," Paz writes.

"With his book 'The Forex Trading Manual,' Javier has provided a good resource for investors who want to trade forex," says Dean Popplewell, Chief Currency Strategist for OANDA, a leading forex broker. "Whether you're new to forex or an experienced retail trader looking for better results, this book explains how to trade with a disciplined approach that is essential for consistent performance."

More information: www.forexdatasource.com

About the Author

Javier Paz is a veteran Forex trader and a recognized online trading industry expert.   As senior analyst for the Boston-based Aite Group, Paz evaluates trends in the active trading industry and is regularly quoted in the financial media, including the Wall Street Journal, Reuters, and Bloomberg.  He has also served in trading industry events as keynote speaker, judge, and panelist.  Prior to the Aite Group, he launched ForexDatasource.com, ran the institutional desk of retail FX broker IBFX, and worked as an analyst in the fixed income and derivatives desk of Credit Suisse First Boston and BankBoston.

About ForexDatasource.com

Since 2007, ForexDatasource.com has been an online destination for sophisticated traders. The site offers educational articles and premium tools aimed at helping active traders. Registration to the website is free and it allows users to create their own news streams using more than 100 reputable news feeds and to make in depth FX broker comparisons.

Advance Praise for The Forex Trading Manual

"Javier has written a guide for Forex that is like no other. . . . If you want to understand how the world of Forex works, then you must read this book." —Casey Stubbs, founder of WinnersEdgeTrading.com

"The Forex Trading Manual has hit the ball out of the park—a real home-run. We have long needed explicit instructions on the trading plan all the gurus say we need, and here it is." —Barbara Rockefeller, author of Technical Analysis for Dummies, founder of Rockefeller Treasury Services

"This book is excellent. . . [it is] oriented towards the practice of trading. Contrary to most other related books, it gives excellent advice on how to start and make progress. In it I have found inspiration for my own tries." —Arnaud Jeulin, Founder of forexticket.com and mataf.net

"An excellent guide for those looking to take their forex trading to a higher level. . . . [and a] valuable addition to any forex trader's bookshelf." —James Chen, CTA, CMT, Director of Technical Research and Education, FXDD, and author of Essentials of Foreign Exchange Trading and Essentials of Technical Analysis for Financial Markets

"A great resource for investors looking for education that integrates the theory of forex trading with application on the industry's best-practice trading platform." —John Jagerson, founder of LearningMarkets.com and author of All About Investing in Gold

"It coaches readers on how to trade consistently with a disciplined approach and how to recondition your trading habits if you're an experienced retail trader in search of better results." —Dean Popplewell, Chief Currency Analyst at OANDA and editorial director of MarketPulseFX, OANDA's Forex blog

"A concise, detailed, no-nonsense resource. . . . Highly recommended." —Jamie Coleman, Managing Editor, ForexLive.com

SOURCE ForexDatasource.com