No nonsense advice

The author presents four very useful tools for trading stocks commodities or currencies. These are: two time-frame momentum indicators Elliott waves Fibonacci with price and Fibonacci with time. You can use these four tools as a discretionary trading system but the Fibonacci discussion is especially valuable in and of itself. The author has been around 20 years providing trading advice - an indication of some quality.



I appreciate that the author isn't trying to hard sell his software and newsletter. You can apply the ideas in the book without buying anything more from the author! That is an honest touch that is appreciated.



The style of the text can be somewhat annoying at times; it is a bit repetitive and has too many comments about not-so-good advisors out there somewhere. (No need for the author to point this out unless he wants to name the offenders.) It would have been good if the author told the reader how this book compares to his earlier book "Dynamic Trading". My take is that the current book introduces the two time-frame momentum and streamlines the other information on Elliott and Fibonacci but it would have been useful to get this information from the author. Is the previous book superceded in his mind or does it still have value?



All positive reviewers (13 of them at the time of writing) have only reviewed this book and nothing else. Clearly the author has a fan club. Irrespective I can really recommend this book.



I have written several short reviews on trading books. The best way is to compare the score on the books I've read. Many reviews on amazon.com are just glorious 5 star reviews. I use all five categories; sorry but everything isn't "great". Books rated 5 are very good. Books rated 4 are good solid books well worth reading. Books rated 3 can be bought by some people who read a lot or have very specific needs. Books rated 1 or 2 I would not recommend buying or reading. Naturally all in my humble opinion.More detail ...

So So

Nothing new or great here. If your just getting started this book will help with the basics. The part about system development is very sparse (essentially just says use ms excel for backtesting). Overall I felt fleeced paying retail for this at B&N.More detail ...

Excellent book on currency trading

I have spent 20 years researching and trading stocks and bonds and was interested in currency trading. I purchased a number of books on foreign exchange. I read this book first Essentials of Foreign Exchange Trading and I found it an excellent choice. It has also been a good companion to my experimentation and trading on one of the major FX trading websites.



It starts off with a good introduction to the principles of currency trading and includes a discussion of a wide range of trading approaches to help understand which best fit your personality and style. The chapters that dive in on technical analysis (using candlesticks moving averages fibonacci/pivot point elliott wave) are especially good; it is obviously the author's specialty. That was good for me since my background is in fundamental analysis and the author's treatment of technical analysis was comprehensive and helpful. The sections on fundamental analyses were good too although I went through them quickly given my familiarity. My primary focus was to "expand the toolbox" with technical analyses and this book served that goal. Also importantly the book is written in an entertaining and fluid style. It was easy to read and absorb.



Overall I found the book excellent and recommend it.More detail ...

The Very Best Forex Training Available

I had read several books on the subject before seeing Jeff Glenellis' book. And I had spent the better part of a year trying to trade Foreign Currency Exchange (Forex) unsuccessully. There are many successful traders using any number of trading methods and many of them offer books about it. But none ever offered to TEACH me their methods (even some to whom I paid significant sums of money) the way Jeff G does in his book.



I bought this book in an earlier revision about a year ago (before it was available thru Amazon). So I have already become proftable using what he teaches in it. Jeff G presents several very concise trading methods in easy-to-follow language. He is also the only one I ever saw present an actual profit progression from compounding where he has actually worked the plan and compounded a small initial startup into a significant sum of money.



But more important than any method he teaches a great deal on how to properly manage the money in your trading account to protect your capital. If you start with $5000 in your forex broker account yet you wipe it all away in a few losses you lose. But with a good method the right money management of your trading capital some consistent work and a little old-fashioned discipline you can start with as little as $200 and compound it all the way to $1M in less than three years -- while drawing out an ever-increasing income every week along the way.



Further many people "bait" you with an intial book but once you buy it then they start to bombard you with more stuff they have to sell that has the "deluxe" or "really great" information. And once you buy that they then proceed to offer you the "super-secret" stuff and so on. Or they "bait" you with the inexpensive book and then want to sell you thousands of dollars worth of "mentoring" (that turns out to be from people who don't even do what they're teaching). Jeff G has done none of that. Since I bought his book originally he has NEVER offered to sell me ANYTHING else extra. All the goods are in the one book.



And as to "mentoring" for those who are interested there is a one-time membership fee (of less than $100) to join his on-going service. Anyone can talk to him personally in the members-only room on most trading days. He actually does what he is teaching does it most every day and any member who wishes may join him there.



And even then he has never asked for even one penny for anything else extra.



For those who wish to learn to trade the Forex successfully I've never seen anything better at any price.

More detail ...

needs to be proofread before release

While I think this is a decent book for people new to forex I purchased the epub version and it has at least 1 error on every page words misspelled word separations etc.. annoying when trying to read through the errors seriously needs some proofreading hopefully the print version isnt as bad..More detail ...

Good basics but miss a HUGE point

Let me be honest here:



This book provides some really good advice about trading the forex market. Which currencies have what tendencies which times and reports to look out for how to manage trades and money etc. It provides the basics for any beginner. But if you are a beginner you will NOT notice something EXTREMELY important that the authors of this book did not mention ON PURPOSE. The authors in full disclosure state they are associated with [...](i.e. Gain Capital). And while in the book they make it seem that since [...] is part of/is a(n) FCM/CFTC/NFA (basically throwing out terms to a beginner to make it seem safe and legit) the author's on purpose do not mention that [...]is NOT an ECN broker and hence you'd think that with all those acronyms they'd be credible but think otherwise. In real short what this means is that if you are not an ECN broker you are allowed to and most disclose in very fine print hidden among pages of other details they know few will read take on purpose trades opposite of yours (hedge) in order to make more profits and ensure that begineers get wiped out and even good traders don't last for the long term. There are many more terrible practices these bucketshops use like fishing for stops spread manipulation etc and [...]has the "white gloves" implied in this book very much dirty. Just google it if you don't believe me.



Just thought I'd throw this out there for any beginners. Choose your books wisely but don't trust everything they say and make sure you know what they failed to say and why.



EDIT: I don't mean to pick on Gain Capital specifically. All I am saying is when you do go to choose ANY forex broker keep my information in mind since it wasn't outlined in the book.



Edit#2: Just in case another point that wasn't mentioned: rememmber that if your broker is not FDIC insured and they go under all your money with them will almost certainly never be seen again (don't fall for their sales/marketing ploys of "we're the biggest ones" or we have a safe and positive balance sheet; if you never heard of Enron GM WAMU then you'd need to read a bit about them). The only FDIC insured FX broker I know of is CITIFxPro which if you read in fine print is managed by Saxo Bank not CitiBank.More detail ...

Novice material that could be dangerous

Let me say right away -

I judge harshly any material that promotes another product. This book promotes the author's website constantly throughout. You must pay to be a member after a trial period LOL



$100 for a measely 7 days!!! That is what the author calls TRIAL. LOL I thought you were trading because you needed money...not because you have tons of money to flush down the toilet?!



Here are the exact current details posted from the author's website -

Trial Membership ($99 for the first 7 days. Then $299.95 for each month)

First 7 days $99. Then $299.95 each 30 days as a full Monthly Member.

Monthly Membership ($299.95 for each month)

Semi-Annual Membership ($1499.95 for 6 months)

Annual Membership ($2400.00 for 12 months)





BEWARE NOVICES !!!!!!!! Tons of people write books and create websites just to get the eager novice to depart with money!



One simple question to ask yourself -

If the author is such a great successful trader...why would he be busy chasing down subscribers? Would you? Wouldn't you be busy scooping up pips and not bothering with some silly website and trying to drum up business for it?



For the money he is charging per month you could buy DVD workshops and seminars from some of the top traders out there and you get to keep those DVDs and watch them over and over at no charge.



I do agree that the general VAGUE substance of this book is generally accurate. You could learn a few things...BUT what this book will teach you is freely available online at some great Forex websites for FREEEEEEEEEEEEE !!!! Just Google search "free forex training" or try "baby pips". You will learn FAR MORE than any beginner book will ever teach you there for free.



Also the candlestick advice in this book is so generic and vague you could lose plenty of money. Let me quote the book -



"Dojis become a most significant reversal signal when seen after an extended rally of long-bodied candles" (by the way the plural of doji is doji...not dojis)



This holds a tiny kernel of truth to it in that doji signals are more powerful signals after a large move in the market. THE TRUTH ENDS THERE. According to THE guru of candlesticks...Steve Nison (the man that brought candlesticks to the West and the one you should learn them from and the man this book gives no credit to as a source for further education)...according to Nison's teachings doji are not reversal signals by themselves. Doji represent transition or confusion in the market. You cannot just assume the market will reverse. You need more confirmation. Candlestick signals by themselves are not reason enough to trade!



For a novice simplistic generic advice like this could wipe your account out in days.





I am not saying the author is a bad person or has bad intentions. I am merely judging the book. I do feel there are many good little tips in it...BUT the same info is available for free. Since this book does not delve into meaty strict detail about anything...you will only scrape the surface get excited and will be more likely to subscribe to the website. I think that is the plan behind this book. For some people...that may be a good thing. As a novice you should research investigate and learn as much as possible before paying one single penny to anyone! How do you know what to pay for or subscribe to when you do not understand Forex trading or any other relative issue????



Use the internet GOOGLE as much as possible...chat in forums take your time and LEARN then make purchase based on intelligence not knee jerk excitement. Forex is rife with scams hustles fast buck programs and systems.More detail ...

Good perspective

Unlike most Forex books this does not reiterate basic strategy and definitions. Rather it assumes that the reader knows the basics and concisely reveals how the Forex dealers can use those strategies against the reader. The author's material corresponds well to common complaints from traders worldwide (check out Forex trader blogs at any website). The graphs are well-laid out and helpful for elaborating on the counter-strategies described by the author. A quick read but surely complex enough for re-reads. I cannot comment on whether the author's strategies will indeed ensuring "beating the dealer" (have not tested them yet) but I think that revealing how the Forex establishment can take advantage of traders will make readers more cautious and less trusting. Should be part of any advanced beginner's library.More detail ...

The Very Best Forex Training Available

I had read several books on the subject before seeing Jeff Glenellis' book. And I had spent the better part of a year trying to trade Foreign Currency Exchange (Forex) unsuccessully. There are many successful traders using any number of trading methods and many of them offer books about it. But none ever offered to TEACH me their methods (even some to whom I paid significant sums of money) the way Jeff G does in his book.



I bought this book in an earlier revision about a year ago (before it was available thru Amazon). So I have already become proftable using what he teaches in it. Jeff G presents several very concise trading methods in easy-to-follow language. He is also the only one I ever saw present an actual profit progression from compounding where he has actually worked the plan and compounded a small initial startup into a significant sum of money.



But more important than any method he teaches a great deal on how to properly manage the money in your trading account to protect your capital. If you start with $5000 in your forex broker account yet you wipe it all away in a few losses you lose. But with a good method the right money management of your trading capital some consistent work and a little old-fashioned discipline you can start with as little as $200 and compound it all the way to $1M in less than three years -- while drawing out an ever-increasing income every week along the way.



Further many people "bait" you with an intial book but once you buy it then they start to bombard you with more stuff they have to sell that has the "deluxe" or "really great" information. And once you buy that they then proceed to offer you the "super-secret" stuff and so on. Or they "bait" you with the inexpensive book and then want to sell you thousands of dollars worth of "mentoring" (that turns out to be from people who don't even do what they're teaching). Jeff G has done none of that. Since I bought his book originally he has NEVER offered to sell me ANYTHING else extra. All the goods are in the one book.



And as to "mentoring" for those who are interested there is a one-time membership fee (of less than $100) to join his on-going service. Anyone can talk to him personally in the members-only room on most trading days. He actually does what he is teaching does it most every day and any member who wishes may join him there.



And even then he has never asked for even one penny for anything else extra.



For those who wish to learn to trade the Forex successfully I've never seen anything better at any price.

More detail ...

Possibly the best forex trading book I've read!

I have read over 10 books on forex trading and this is quite possibly the best one I've purchased. I wish I would have found it before the other ones as then I would have saved a lot of money. 7 Winning Strategies is a very practical guide to improving your chances at success in the forex market. I think one of the primary reasons trading strategies don't work out is because the trader applied the wrong strategy during certain market conditions. Grace Cheng's book covers different strategies to use for different market dynamics. It details how a trader can apply these strategies and it tells you what sort of market conditions the different strategies work best in - and best of all it does it clearly and concisely. You still need to think for yourself but this makes it a whole lot easier to plan your trade and trade your plan! The groundwork that's been done is right on.



Actually I was aware of Grace Cheng before purchasing this book and just like another reviewer I didn't have a very positive impression of her because her Web site looks kind of funky. Don't let that deter you from reading this outstanding book. This book literally taught me not to judge a book by its cover. If you read it and really apply your learnings to developing a strategy that is suited to your trading style you'd understand just how valuable the strategies detailed in this book are. More detail ...

Without a target market & shallow

Target market

-----------------

Regarding profitability there are two types of traders; those making and those losing money. If you are losing money (i.e. your strategy has a negative expectancy or faulty execution) then this text CANNOT HELP YOU. In this circumstance cost averaging as expressed in this text will cause you to lose money faster since the premise is to make up for losses on the next or the next few trades. This is what is known as a Martingale type system (see Wikepedia for info on Martingale). As Van Tharp always says the anti Martingale approach works.



If you are making money with your system i.e. positive expectancy then I would ponder one thing about taking the advice in this text and that is ... Why would I alter my money management system because I've lost a trade? Certainly my money management approach will take into account losses and still be able to steadily increase my portfolio. Additionally increasing your risk on the next trade assumes that your next trade is more likely to be successful than your last trade. Well free Internet research will show that this premise is incorrect. Additionally cost averaging is dangerous and may actually cause a good system to become marginal and a marginal system to lose money. Please read good money management texts for factual evidence to back up my claim (Van K Tharp etc).



Shallow

--------

With regard to the text's shallowness I can only say that it has no clear strategies. In fact even the cost averaging that the book purports to teach has been handled in a very sketchy fashion with ideas on how to effect it strewn throughout the text in sentences such as "when suffering two or more losses in sequence I do not attempt to recover everything with one trade but spread it out over the next three or four entries" (page 101). Why not the next five or six entries or seven our eight or one or two. Where is the rational behind using the next "three or four" entries. This statement alone should clue newcomers to trading to the fact that cost averaging is very dangerous.



The title is very appealing to those searching for the truth. The closest you will find in this text is the mention of their proprietary ROI (River Oscillator Indicator). I know nothing of the indicator but from the author you get the feeling that it is very good bordering on miraculous. You'll have to pay for it. Nothing wrong with that. However this book does not teach you how to use it. If interested contact Concorde Forex Group find out the cost of the indicator per month and any other costs such as training to use the indicator. Then make a reasonable decision as to whether or not it is worth it to you.



In closing if you have a propensity for gambling (which I don't recommend) then I suggest you review the freely available techniques available on the net. In fact they will even give you detailed methods of how much to risk how much to increase your risk for each subsequent loss and when to quit (when you have reached your draw down limit) which is more specific information than contained in this text.



I live outside the US so lucky for Amazon that it's not cost effective to return this book.More detail ...

More of the same

I have bought this book as I had heard a lot about this author from trading symposiums. He may be a great trader and also may be a great presenter in symposiums but when it comes to writing a book I would not say he was successful.



1. Good amount of content in this book is a repeat from his other two books. So if you happen to have one of his other two books you may want to ask yourself why do you want to buy this book.



2. Good amount of content in this book is freely available in the internet. Not only its covered for free in the internet its actually more detailed and better articulated with good examples. Take the challenge and just do a google search for simple terms like candle stick pivot points stochastics MACD chart patterns etc and you will be amazed how much great content is there for free.



3. The three trading system methods being discussed is nothing new. Even if its not new I would have atleast expected that these systems be covered in more detail with proper definition of the rules. Unfortunately only overview of the system is provided and its up to the reader to figure out the missing pieces are. Book touches upon filters entries etc but nothing detailed enough to be useful. I don't really know why the author calls the systems high probability. The first 2 of them are based on stochastics & MACD respectively. The last one is based on pivots & MA though not new detailed information on tis system is not provided.



4. The tradestation back testing strategy code and the results looks like are cheri picked. You try to run that strategy with different instruments you will see the real truth. There is nothing great about this strategy. He talks about scaling when entering the trades but he does not incorporate that in the strategy and leaves it to the readers to figure that out. What is given in the strategy is the most basic version which you can find by posting in tradestation forum for free.



5. The pivot point moving average system strategy code is not presented. I was looking for clear rules on how this strategy can be implemented. If you talk about a strategy you got to be specific about the rules so that anyone who want to backtest can do so. Unfortunately the rules are not specific. I had written to the author to get more information about this and found out that he would be selling this as an indicator in 2008. So looks like (my personal opinion) the Pivot point Avg system being mentioned in the book is a marketing instrument for his indicator being sold. I have read other books where the author refers to paid indicators he has written but does provide detailed information on how those indicators work and the details/calculation behind that in the book. If someone likes it and do not want to develop it themselves they can always buy it if they like.



6. CD...... I am amazed that the author is marketing about calculators. All the calculators he talks about are available free in the internet. In addition anyone who has excel can create these indicators in less than 5 mins. Most trading software automatically calculates these numbers. So I am not really sure what is the value of the indicator other than for marketing purposes. The CD does have a training video which is good. Other than that I feel this CD is a way to make sure that you don't return this book as once you open the CD you cannot return it.



7. Looking at the chapters you will notice...

Introduction to Forex... nothing new here... You can read about this in million sites for free.

Candlestick.... All this content is free in the internet. If you already own his previous book you are wasting your money to read the same content thats available elsewhere.

Patterns..... Same as candlestick. Its filler information. No new insight. No actionable information. Unfortunately nothing of value here.

Fibonacci chapter was so theoritical even if you read it 10 times you will know what it is but will not help you in any shape or form. Its like learning about the internals of the car's engine which has no relationship to how to drive the car.

Trading system chapter was not detailed enough and lacked depth.

Psychology chapter was brief..



In essence the book is like going to a mediocre Sunday buffet. It has references to different concepts but none of the concepts are covered in depth nor any new insight provided.



8. Since you paid good amount of money for this book you atleast expect the book to be printed in good paper. You will surprised that the quality of the paper printed is also not good.



9. On the good side

Book discusses about Multiple Timeframe analysis which is good though Elder does a better job in his book.

Discussion on scaling out is interesting.

Quick Training video in the CD is good.



In summary this book is not worth the money. No new information. Even the information covered is not covered in detail. Not much actionable information. So if you don't have access to the internet and cannot read content online you can pay for this book to get all the basic information (in a printed form) though you can get such (better) information for free in the net. If you are looking for specific information on the 3 systems John is talking about be prepared to get disappointed.



Hope this helps.

RamMore detail ...

Poor editing but a great book

Okay first some background: I am new to trading forex but have been trading stocks and options for over 5 years. Aspects of the forex market are very intriguing (24 hour trading a small 'universe' of currencies to watch vs. thousands of stocks/options leverage etc.) so I was looking for a book that would tell me more about the forex market and provide a good foundation to trade successfully.



Let me state from the outset that the editing indeed leaves much to be desired. Typos letters or spaces left out and smallish charts that forces one to bring out a magnifying glass at times. But none of this has anything to do with the value of the content of the book. Anyone dismissing this book simply due to editing are 'missing the forest for the trees' as the saying goes. But the minor editing blunders are unfortunate and are the reason for only 4 stars instead of 5.



Content pros:

a) Very bite-sized chapters help encapsulate topics nicely. You can focus on one thing at a time to insure that you 'get it' before moving on. And everything builds upon the preceding chapters fairly smoothly so it works.

b) True to her premise this is NOT another missive on all the possible technical indicators available to use. (If you want that I suggest Murphy's tome on Technical Analysis.) Instead she is clearly outlining some of the key tools that she uses to trade forex and provides adequate reasoning for her choices. She does not dismiss other indicators as not being useful - she simply seems to have found that following a simple system with these tools works for her. And I would have to agree that it is easy to become bogged down in 'indicator paralysis' and I find her simplicity refreshing.

c) For those commentators below that question whether she is a 'real' trader or whether her system can work I would happily point out that the forex market uniquely offers a wonderful NO COST way to find out for yourself! Unlike any stock broker that I know you can open a demo account (or 3 or 5!) with any online forex broker and 1) learn how to execute a trade (it is different than stocks or options in some ways) 2) see whose `trading platform' you like the most AND most importantly 3) you can 'play along with Raghee' (or anyone else's strategy) as you read the book!

d) She does a very good job of defining trading styles (scalping swing momentum etc.) links them to what markets that best apply (trending sideways etc.) and to which indicators fit each style and market the best. I have not seen any other author put the style market conditions and tools together in such a clear manner.

e) She does a very commendable job in covering trade and account management. With the high leverage issues in forex these issues become very critical more so than with stocks and options. This is typically a boring area for most readers but ignore it at your financial peril!



Content cons:

a) Other than the known gripes about small charts and some editing gaffs I really do not have any significant `cons.' (But ask me again in a year once I have traded in a 'real' account for a while! The demo account is doing too well to leave unfunded!)



As you can tell I highly recommend this book. If you are new to forex you can buy many books for half the cost of this one some that are a lot thicker too! But I doubt that you can find a better book to help you become comfortable with the market the 'whys' and 'hows' of trading forex and perhaps most importantly how to manage your trades and money in differing market conditions.



1. Buy this book.

2. Open a demo account (if you are not already active in forex)

3. 'Play' until you are ready!



What could be better?

More detail ...

So So

Nothing new or great here. If your just getting started this book will help with the basics. The part about system development is very sparse (essentially just says use ms excel for backtesting). Overall I felt fleeced paying retail for this at B&N.More detail ...

Solid Forex strategies for capturing profits in today's volatile markets

How to Make a Living Trading Foreign Exchange puts the world of Forex at your fingertips. Author Courtney Smith begins with an introduction to the Forex market-what it is and how it works. He then delves into six moneymaking techniques for trading Forex including his unique Rejection Rule that doubles the profit of basic channel breakout systems. In addition to two specific methods for exiting positions at critical levels Smith also discusses powerful risk management techniques and successful trading psychology strategies that will keep you one step ahead of the game.

• Reveals the secrets of the Forex market and how to create a lifetime of income trading it
• Offers advice on maximizing profits during the volatile swings that have increasingly become the norm
• Other titles by Smith: Option Strategies Third Edition Seasonal Charts For Futures Traders Commodity Spreads and Profits Through Seasonal Trading

Make more from today's Forex market with How to Make a Living Trading Foreign Exchange.[]More detail ...

Don't be fooled by the book title!

There are less then 80 pages about sentiment indicators in this book. Fundamental Analysis Technical Analysis Elliott and Fibo make the rest. In 80 pages the author talks about 4 sentiment indicators: Magazine Covers Headline News COT Report and the FXCM SSI.



I have paid over 50 USD (with shipping) for information that I can find on the internet for free. More detail ...

Novice material that could be dangerous

Let me say right away -

I judge harshly any material that promotes another product. This book promotes the author's website constantly throughout. You must pay to be a member after a trial period LOL



$100 for a measely 7 days!!! That is what the author calls TRIAL. LOL I thought you were trading because you needed money...not because you have tons of money to flush down the toilet?!



Here are the exact current details posted from the author's website -

Trial Membership ($99 for the first 7 days. Then $299.95 for each month)

First 7 days $99. Then $299.95 each 30 days as a full Monthly Member.

Monthly Membership ($299.95 for each month)

Semi-Annual Membership ($1499.95 for 6 months)

Annual Membership ($2400.00 for 12 months)





BEWARE NOVICES !!!!!!!! Tons of people write books and create websites just to get the eager novice to depart with money!



One simple question to ask yourself -

If the author is such a great successful trader...why would he be busy chasing down subscribers? Would you? Wouldn't you be busy scooping up pips and not bothering with some silly website and trying to drum up business for it?



For the money he is charging per month you could buy DVD workshops and seminars from some of the top traders out there and you get to keep those DVDs and watch them over and over at no charge.



I do agree that the general VAGUE substance of this book is generally accurate. You could learn a few things...BUT what this book will teach you is freely available online at some great Forex websites for FREEEEEEEEEEEEE !!!! Just Google search "free forex training" or try "baby pips". You will learn FAR MORE than any beginner book will ever teach you there for free.



Also the candlestick advice in this book is so generic and vague you could lose plenty of money. Let me quote the book -



"Dojis become a most significant reversal signal when seen after an extended rally of long-bodied candles" (by the way the plural of doji is doji...not dojis)



This holds a tiny kernel of truth to it in that doji signals are more powerful signals after a large move in the market. THE TRUTH ENDS THERE. According to THE guru of candlesticks...Steve Nison (the man that brought candlesticks to the West and the one you should learn them from and the man this book gives no credit to as a source for further education)...according to Nison's teachings doji are not reversal signals by themselves. Doji represent transition or confusion in the market. You cannot just assume the market will reverse. You need more confirmation. Candlestick signals by themselves are not reason enough to trade!



For a novice simplistic generic advice like this could wipe your account out in days.





I am not saying the author is a bad person or has bad intentions. I am merely judging the book. I do feel there are many good little tips in it...BUT the same info is available for free. Since this book does not delve into meaty strict detail about anything...you will only scrape the surface get excited and will be more likely to subscribe to the website. I think that is the plan behind this book. For some people...that may be a good thing. As a novice you should research investigate and learn as much as possible before paying one single penny to anyone! How do you know what to pay for or subscribe to when you do not understand Forex trading or any other relative issue????



Use the internet GOOGLE as much as possible...chat in forums take your time and LEARN then make purchase based on intelligence not knee jerk excitement. Forex is rife with scams hustles fast buck programs and systems. More detail ...

Excellent book on currency trading

I have spent 20 years researching and trading stocks and bonds and was interested in currency trading. I purchased a number of books on foreign exchange. I read this book first Essentials of Foreign Exchange Trading and I found it an excellent choice. It has also been a good companion to my experimentation and trading on one of the major FX trading websites.



It starts off with a good introduction to the principles of currency trading and includes a discussion of a wide range of trading approaches to help understand which best fit your personality and style. The chapters that dive in on technical analysis (using candlesticks moving averages fibonacci/pivot point elliott wave) are especially good; it is obviously the author's specialty. That was good for me since my background is in fundamental analysis and the author's treatment of technical analysis was comprehensive and helpful. The sections on fundamental analyses were good too although I went through them quickly given my familiarity. My primary focus was to "expand the toolbox" with technical analyses and this book served that goal. Also importantly the book is written in an entertaining and fluid style. It was easy to read and absorb.



Overall I found the book excellent and recommend it.More detail ...

Excellent book on currency trading

I have spent 20 years researching and trading stocks and bonds and was interested in currency trading. I purchased a number of books on foreign exchange. I read this book first Essentials of Foreign Exchange Trading and I found it an excellent choice. It has also been a good companion to my experimentation and trading on one of the major FX trading websites.



It starts off with a good introduction to the principles of currency trading and includes a discussion of a wide range of trading approaches to help understand which best fit your personality and style. The chapters that dive in on technical analysis (using candlesticks moving averages fibonacci/pivot point elliott wave) are especially good; it is obviously the author's specialty. That was good for me since my background is in fundamental analysis and the author's treatment of technical analysis was comprehensive and helpful. The sections on fundamental analyses were good too although I went through them quickly given my familiarity. My primary focus was to "expand the toolbox" with technical analyses and this book served that goal. Also importantly the book is written in an entertaining and fluid style. It was easy to read and absorb.



Overall I found the book excellent and recommend it.More detail ...

In High Probability Trading Strategies author and well-known trading educator Robert Miner skillfully outlines every aspect of a practical trading plan–from entry to exit–that he has developed over the course of his distinguished twenty-plus-year career. The result is a complete approach to trading that will allow you to trade confidently in a variety of markets and time frames. Written with the serious trader in mind this reliable resource details a proven approach to analyzing market behavior identifying profitable trade setups and executing and managing trades–from entry to exit.

Note: CD-ROM/DVD and other supplementary materials are not included as part of eBook file.More detail ...

Praise for

Forex On Five Hours A Week

"The style allows Raghee Horner to tackle the thorniest concept for beginning traders to understand from the outset—shorting. The explanation is one that is the best I've read in many a book all because she is conversing with you within the pages." —KIARA ASHANTI ACTIVE TRADER MAGAZINE

"Just who is Raghee Horner? That's easy. If you are a forex trader Raghee Horner is a young woman who can change your life. She can turn your losses into profits. She can take the mystery out of trading this incredible market."—PETER McKENNA INVESTOR'S BUSINESS DAILY

Trading the forex market has become one of the most popular forms of trading. It's a 24/7 job for many. But what if you have a day job and only a little time to dedicate to the market?

In Forex on Five Hours a Week top forex trader Raghee Horner shows you how with a few key techniques and just five hours a week you can capture consistent profits in the forex market.More detail ...

The foreign-exchange market is often referred to as the Slaughterhouse where novice traders go to get 'chopped up'. It is one of egos and money where millions of dollars are won and lost every day and phones are routinely thrown across hectic trading desks. This palpable excitement has led to the explosion of the retail FX market which has unfortunately spawned a new breed of authors and gurus more than happy to provide misleading and often downright fraudulent information by promising traders riches while making forex trading 'easy'.

Well I'll let you in on a little secret: there is nothing easy about trading currencies. If you don't believe me then stop by Warren Buffet's office and ask him how he could lose $850m betting on the dollar or ask George Soros why his short yen bets cost him $600m not once but twice in 1994. What's wrong with these guys don't they read FX books?

In reality the average client's trading approach combined with the unscrupulous practices of some brokers make spot FX trading more akin to the games found on the Vegas strip than to anything seen on Wall St. The FX market is littered with the remains of day traders and genius 'systems' and to survive in the long-run traders have to realize that they are playing a game where the cards are clearly stacked against them.

Have you ever had your stop hit at a price that turned out to be the low/high for the day? Bad luck perhaps? Maybe. What if it happens more than once? Do you ever feel like the market is out to get you? Well guess what in this Zero Sum game it absolutely is.

Covering the day-to-day mechanics of the FX market and the unsavoury dealings going on Beat the Forex Dealer offers traders the market-proven trading techniques needed to side-step dealer traps and develop winning trading methods. Learn from an industry insider the truth behind dirty dealer practices including: stop-hunting price shading trading against clients and 'no dealing desk' realities.

Detailing the dealer-inspired trading techniques developed by MIGFX Inc consistently ranked among the world's leading currency trading firms the book helps turn average traders into winning traders; and in a market with a 90% loss rate winning traders are in fact quite rare! More than just a simple manual Beat the Forex Dealer brings to life the excitement of the FX market by delivering insights into some of the greatest trading triumphs and highlighting legendary disasters; all written in an easy to read style.

Make no mistake about it there is a lot of money to be made in currency trading you just have to know where to look. Sidestepping simple dealer traps is one way of improving your daily p&l but it is surely not the only one. Successful trading comes down to taking care of the details which means skipping the theoretical stuff and providing only up-to-date real-life examples while sharing the FX trading tips that have proved so profitable over the years. By stripping away the theory and getting down to the core of trading you too will find yourself on the way to beating the forex dealer!More detail ...