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 Is the previous book superceded in his mind or does it still have value?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.

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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 ...