Trading Course Review

Getting Started in Currency Trading Winning in Todays Hottest Marketplace Getting Started In

While the Foreign Exchange (FOREX) market can be a very profitable place, you must have a firm understanding of how to operate within this environment if you intend on achieving any success. That’s why you need Getting Started in Currency Trading, Second Edition. This reliable resource-written for both newcomers and those with some FOREX experience-puts trading world currencies in perspective, and shows you exactly what it takes to make it in this field. Topics include:

• The rapidly expanding and evolving online trading marketplace for spot currencies, generally referred to as retail FOREX
• The process of initiating and liquidating a live market order
• The advantages and disadvantages of fundamental and technical analysis
• The wealth of FOREX products and services now available from third-party vendors
• The psychology of trading and the stresses that may accompany this endeavor
• Advanced strategies such as options, exotics, and arbitrage

User Ratings and Reviews

3 Stars Great overview of the market.
I have been trading currencies for about a year and a half now, and this was a great start to get a broad picture of the FX market.

This isn’t a “dummies” step by step but it is a clear overview of trading in the currency market.

It could be written with a little more… excitement or novelty. It is a fairly clinical read. It isn’t a good comparison but triple w dot babypips dot com is a fun version of the material in this book. They are not associated but the web site is a good primer for this read (or vise versa).

The basics are all covered and that makes it worth the price.

4 Stars General Overview
This book is very true to its name, definitely for those of us who aren’t experts at trading yet. The book is filled with a general overview of the forex world and I would say that this book should be the first one any novice picks up (even before babypips).

5 Stars Getting Started in Currency Trading
I originally bought this book in February 2007 after watching an infomercial on currency trading. This book is good for anybody who wants to start currency trading but dont know where to begin. After reading it, I was hooked.Now one year leter I am trading the currency market and now I am successful at it.

This book will give you the basic knowledge and foundation of the currency market.If you are someone who is already trading and have experience then this book is not for you.

Also once you read this book read it at least two more times.

5 Stars A Book For Success
Excellent basics description for FOREX investment. Learn the principles and become a millionaire. Repetitive from other similar books but good anyway. Highly recommended.

2 Stars Riddled with errors.
I found many errors in this book, especially in chapter 8, “The Calculating Trader”, as well as some in other chapters. Unfortunately, if you don’t catch these errors, this book will only confuse you more. If you do catch them, it will just annoy you. Granted, I have the first edition of this book (2005); hopefully these errors have been corrected in the new June 2008 second edition. I gave the book 2 stars because it does have some decent overview information in it.

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The Forex Trading Course A Self Study Guide To Becoming a Successful Currency Trader Wiley Trading

A pioneer in currency trading shares his vast knowledge

The Forex Trading Course is a practical, hands-on guide to mastering currency trading. This book is designed to build an aspiring trader’s knowledge base in a step-by-step manner-with each major section followed by a thorough question-and-answer section to ensure mastery of the material. Written in a straightforward and accessible style, The Forex Trading Course outlines a practical way to integrate fundamental and technical analysis to identify high probability patterns and trades; and reveals how to develop a trading plan and appropriate strategies for different size trading accounts; how to control emotions and use emotional intelligence to improve trading performance; and much more. Filled with in-depth insight and practical advice, The Forex Trading Course will prepare readers for the realities of currency trading, and help them evolve and achieve success in this dynamic market.

Abe Cofnas (Orlando, FL) has been the forex trading columnist for Futures magazine since 2001. He formed Learn4x.com-one of the first Web-based interactive training sites devoted to forex trading in 2001 as well.

User Ratings and Reviews

4 Stars The Forex Trading Course
This is a great book. It filled in a lot of the missing info that new forex traders are missing in their everyday trading. This book has a nice mix of technical and the fundimentals that are missing in a lot of other author’s books. This book should be in every new trader’s library.

2 Stars Disappointing
Definately for beginners - deals with some fundamentals, but not much more. The final chapter of the book directs the reader to the author’s website and promises that one can download the ” Learn4x Trading Pad ” which ” uniquely offers built-in analytics on trader performance, allowing the trader to track key performance results”. The link however doesn’t work and I was unable to find, much less download the Trading Pad at the author’s site. I did see several inducements to purchase his book. This was a real let down, as I think most beginners would find such a tool extremely useful in honing their skills.

5 Stars An excellent introduction to the world of Forex trading
At the outset, let me say that I am definitely at the beginner level with regard to the trading of currencies on forex, but I do feel that I learned a lot after reading this book.

The most important lesson that I took away is that the novice trader needs to spend a heck of a lot of time trying different strategies risking very small amounts of money before before diving in and putting significant amounts at risk. Although there is nothing wrong with learning to trade with a practice account, the authors says that you shouldn’t begin with a practice account holding $50,000 or more and then trying to trade $100,000 lots using large amounts of leverage, even if you might be fortunate to have that much money with which to fund your initial real account.

Prior to reading this book I would have assumed that I would always be trying to earn at least 50 or more pips a trade, however this author teaches that there is nothing wrong with simply trying to get a string of wins of only 10 pips at a time until you have a solid record of consistency that would justify going for larger returns. As a novice, I will certainly take his advice to heart and would recommend this book to anyone else who is not already a veteran currency trader.

3 Stars A dip into the pool for beginners
This book fills the need for an entry level FX course, so if you’re just starting out, it is probably a good choice. I’ve got some experience in the securities industry, and I’m afraid I find it sloppy and shallow. If you’re taking a class taught by a knowledgeable professor, the book should work well to set you up for lectures. Personally I was hoping for more (I have a background in the securities industry), but I did learn from the book, and Mr. Cofnas does a pretty good job of pointing you to resources on the web.

More description and more detail would have been nice in a lot of places. I’m about ? way through the book now, but I still haven’t seen any indication that he is going to cover the differences between the different types of currency trades (spot, forward, etc…) that the major markets allow (most individual traders will be trading rolling spot, so this probably doesn’t matter as much for a beginner course).

The writing is pretty sloppy. This is from page 3 - the first page of the first chapter! “In game of chance the key feature…” (subject-verb disagreement). “We begin in this chapter with an…” (certainly should lose the ‘in’ but “This chapter is…” would make Strunk and White happier).

The technical explanations tend to be pretty confusing. In talking about the yield curve on page 23, he says “In normal times, people are willing to pay more for longer-term maturities and bonds.” First of all, by normal times he should mean when the yield curve is upward (when a 10 year CD is paying a higher interest rate than a 1 year CD) though I didn’t see any confirmation in the text (the yield curve has been upward more of the time for the last 100 years). So… does he mean the people issuing the bonds will pay more or the people buying them? Since companies typically issue bonds, let’s guess that by people he means investors purchasing bonds — BUT people will pay LESS for long maturities when the yield curve is “normal” (implying the securities have a higher yield which means that the purchaser needs to get paid more interest to lock up his/her money for a long time — a higher interest rate on a 10 year CD). To make what he says correct, it must be the bond-issuers (or the bank, if it is a CD) paying higher rates of interest for longer term securities. Very confusing! He never mentions the time-value of money (generally one expects that $1 now is worth more that getting $1 later — a bird in the hand is worth two in the bush). Further, he doesn’t talk at all about the various types of risk for longer terms (risk that the company will go under - favors a steeper yield curve, risk that you won’t be able to invest the money later at a good rate - flattens the yield curve). So he’s essentially saying that the yield curve is important. Granted, this is a confusing subject overall — it probably warrants more space in the book.

His description of the influence of inflation on currency rates left me confused for a few reasons. Inflation was generally believed to be a good thing until about 1965 (if you owe people money, it decreases the real value of the amount you owe - those of us in debt probably wouldn’t mind a little inflation - provided we have adjusted our lifestyle to lower our costs). In fact, the recent rapid inflation in home prices was pretty positive for the economy (until it was unsustainable). So if you read any texts that are older (say, Keynes) you have to remember that they had a fundamentally different view of good and bad (generally the better economists try not to pass value judgements). Mr. Cofnas says that inflation is the enemy of central banks, so I’m immediately suspicious. Inflation is a term that describes the rate at which the currency changes value as measured against goods. A little inflation is believed to be good (particularly in a growing economy) because it stimulates spending. He seems to admit this later when he notes that most central banks have inflation targets, and they are not zero. The opposite of inflation is deflation, which can be very bad in a market economy, because it exerts pressure on people not to spend, therefore adding deflationary pressure creating a real problem for the economy (this is one of the things that probably contributed to the great depression in the 1930’s). Mr. Cofnas states that increases in inflation in a coutry are positive for the currency. However, I’m guessing that this is only true if the underlying strength of the currency remains somewhat stable (people are coming into the currency for higher rates). Otherwise, wouldn’t currency traders flock to one of the currencies that have %1,000+ inflation per year? Of course not, the currency is losing value compared to other currencies faster than investments that can be made in the currency are gaining value.

5 Stars THE book for beginners
For those of you, like me, who actually want to learn to trade forex and don’t know where to start, this is the book to buy. I reviewed lots of others, was disappointed that they either spent most of the book shilling a particular book/system/company, or else they gave a high-level overview of everything in the forex universe, but not much in the way of how-to’s. This book’s different. The first part explains how/which economic factors affect currency markets; the next section tells you about technical analysis and which/why/how to use it, and also talks a little about strategies. The third part is called “Putting It Together” — here’s where this book really stands out: he explains how to get started, how to do test trades, how to gauge your results, putting on different kinds of trades so that you can compare which worked better, etc. etc. Included is a spreadsheet following one trader’s journey from inept beginner to knowledgeable forex trader. He talks about how to trade different size accounts. He talks about determining your trading style and best strategies to use whichever style you select. Note that each subject area is explained with enough detail that you can get started, right now, as you read. But if you want more information (as do I), he tells you where to look. This book is just great. I highly recommend it.

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Currency Trading and Intermarket Analysis How to Profit from the Shifting Currents in Global Markets Wiley Trading

As head FX strategist at CMC Markets–one of the world’s leading forex/commodity brokers–Ashraf Laidi understands the forces shaping today’s currency market and their interplay with interest rates, equities, and commodities. And now, with Currency Trading and Intermarket Analysis, he shares his extensive experiences in this field with you. Throughout the book, Laidi outlines the tools needed to understand the macroeconomic and financial nuances of this dynamic field and provides you with insights that are essential to making the most of your time within it.

User Ratings and Reviews

5 Stars Great Analysis
Great Book. The ability to think independently, and to see the outliers, not the current fads, is what makes his analysis so valuable. When is the next volume coming out!?

5 Stars Finally an original in FX
This book will be helpful to those seeking an introduction to the interrelatedness of the currency, commodity, equity and fixed income markets. The book is well written and easy to read. However, I would not suggest the book to a person with no technical, economic or financial background.

I have followed Mr. Laidi’s currency outlook for over a decade now both on TV and in print, and can honestly say that I have yet to come across another analyst with the foresight of Mr. Laidi (he called the bear market and USD collapse when the rest of Wall St. were still believing in an unending bull market).

Although many of his correlations referenced in this book are obviously backward looking, it does teach traders to take a global market perspective before narrowing down to specific currency pairs. I felt his explanation of the FED, under both Greenspan and Bernanke, really did a good job on a very difficult topic, as many traders, like myself, really don’t understand the different weapons the Fed and other central banks posses.

Equally useful and informative was his chapter on the effect of interest rates, there isn’t enough space for me to go into it, instead I will let you gather the pearls of wisdom for yourself.

Mr. Laidi finally concludes that some of the historical tendencies are currently being challenged and that only time will tell if a new relationship has emerged or if history will again be proven right. Pick up this book if you want to read the work of an original thinker at the top of his craft. Whether you trade FX or another market, I think you will benefit from Mr. Laidi’s insight.

5 Stars Very Enlightened
Finished the book and I must say I have been enlightened. I will definitely need to review it again to hammer home the concepts, but I feel like this book has given me a deeper understanding of why financial markets behave the way they do. I wish I would have read this before learning to trade spot Forex two years ago because it would have shortened the learning curve and I would have avoid many painful leassons.

5 Stars Understanding the Reasons Currencies Move
Anyone who is serious about forex needs to read this book and follow Ashraf’s analysis via ashraflaid [...]. Ashraf’s career spans all aspects of the currency markets (from assessing risk for the World Bank to analyzing bond markets) and he truly knows what makes the markets tick.

After reading and studying his material you can watch the currency markets fluctuate based on the forces that exist in the financial world (and understand why). Gold, Oil, Bonds, the Stock Markets and World Events are all catalysts for the key driver of currencies “RISK” vs. “Risk Aversion”. Ashraf explains to the reader which way the pressure moves based on these interrelated markets.

The core of this book is studying the correlations that exist in the financial markets and how they affect currency movement. Ashraf explains that these correlations come and go and that good trading is based around understanding the current set of data and the correlations prevailing. If you like politics, economics and trading then this book is a must read and re-read.

5 Stars On the money!!!
Ashraf Laidi is amazing at reading the financial markets, with an emphasis on currency markets. This book offers an easy to read and understand guide to PROFITING from trading on the forex. Also, it’s not encyclopedia-size like a lot of market analysis books, so you won’t buy it and be afraid to open it. The correlations between markets that Ashraf identifies in the book are almost unbelievable. You’ll see how he finds perfect trends between currencies and oil, gold, the VIX, interest rates, other currencies, etc., which allows for effective decision making in trading. The charts are amazing and easy to read (there are lots of them so you won’t just be looking at words), and show direct relationships to forex rates. I actually couldn’t believe that he could find almost perfect correlations (you’ll see what I mean when you look at the charts), but the man is brilliant, so I’m no longer surprised. I’m very new to currency trading and already making money, skipped the 6-month practice account some recommend. Get in now while the market is hot. I suggest you buy 2 books and read them both. Thanks for making currency trading interesting, understandable, and profitable for me Ashraf! By the way, I have absolutely no financial interest in books that Ashraf sells. I know about him from business network interviews. - All the best - Rob (New York)

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Futures and Options For Dummies For Dummies Business and Personal Finance

The days of buying and holding stocks and mutual funds for years are gone; nowadays, futures and option markets offer some of the best opportunities to make money trading in volatile times. But like all investments, high risk is involved, and in order to become a successful trader you must be prepared to work as a geopolitical analyst, a money manager, and an expert in all types of commodity markets.

Futures & Options For Dummies will show you how trading is done and how to survive and succeed in these ever-changing markets. Filled with nuts-and-bolts advice, you’ll soon discover how to manage the risks involved and reap the rewards of futures and options trading. This straightforward guide gives you the tools you need to understand:

• Ins and outs of trading futures and options
• How to analyze the markets and develop strategies
• Interest-rate futures and speculating with currencies
• How to stock up on indexes
• The direction of commodity futures
• Organizing your financial data and calculating your worth
• Developing strategies now to avoid pain later
• The execution of successful trades

Trading takes an iron-cast stomach and nerves of steel to perform, and this book features ways to keep yourself sane and secure. It also lists resourceful Web sites, commodity exchanges, books, newsletters, and magazines to assist in your trading endeavors. From technical analysis to finding a broker, Futures & Options For Dummies has all the information you need to capitalize on these markets!

User Ratings and Reviews

5 Stars Good as Always
Helped pass the Series 3 license, and helps with understading the industry.

2 Stars Short on details
This isn’t what you expect from the “For Dummies” series. Meaning you don’t close the book feeling you can get started with confidence (unlike, say, Currency Trading for Dummies, after which you can do just that). Overall it’s a useful primer but nothing more. Its strengths are some macroeconomic insights and occasional tips on how the big players play the game. It is average in terms of giving the basics on calls and puts and basic spreads, and it gives the usual overview of charting and technical analysis. The three main weaknesses are: 1) An overemphasis on using historical charts to show where you could have bought and sold based entirely on 20/20 hindsight; 2) Trying to cram in too many subjects in the second half of the book, offering brief intros with very few insights but what feels like at least 2 warning per page on “Don’t forget there is risk involved” and “Moves can be huge and reversals are unexpected;” 3) An absence of an overview of the tools and software available. This last is the clincher why I gave it only 2 stars. Because trading in futures is considered the big league (and rightly so, because there IS huge risk involved), the best softwares cost money and are sold business to business. It is still not considered the realm of the burgeoning individual speculator. For internet software, well for any software, you need to have a simulation so you are expert in the workings of the software before trying to trade real time- imagine losing thousands of dollars because you don’t understand how to correctly set up your spread in the software!

If software does include a simulation package for evaluation, it is likely using simulated data. The better software packages that offer simulation for options will balk at futures and tell you you need to be approved for a futures account, in other words you need to commit before seeing it. This current grey area for individual speculation is to be expected, but that’s why I bought the book, hoping it would bridge those gaps. It did not.

5 Stars need to know
If you’re new to options, this is _the_ book to start with. Surely, online resources are plentiful, but no single web site can give you all the information and explanations you need to really get a good grasp on whqat exactly might be happenning. I’ve already made some money in options but, believe it or not, I’ve made more in stocks because I didn’t quite grasp how these things work. This said, if you understand options and have a good idea of how the underlying (stock) is going to perform you can see your option appreciate 20, 50, or even 100 plus percent in a very short time. This is the draw of options. The most important thing you need to know, however, and this is ‘experience’ speaking, is that you have to, i mean, have to reel in your money if you see so much as 5 or 10 cent markdown in the price of your option. Why? because, unlike stocks, you can always buy right back in if the thing does start going your way With stocks, you usually hold it until you see , say, an 8% depreciation in value. This is not true with options. If you have, say, ten contracts, you’re leveraging 1000 shares. Thus, if your thing goes down 5 cents, you’ve lost 50 dollars; 10 cents, 100 dollars and this usually happens intra-day, within a few minutes. For this reason, options are classified as ‘high risk’, but it’s only high risk if you’re averse to gettting rid of them. Stocks might take 2 or 3 or 5 days or more to show such a drop; that’s when you might sell. Oh, and one more thing…having the right software makes or breaks your trading. Schwab offers options, but not any kind of software that gives you all the information and tools you need. Check around; there’s a few that offer killer stuff. Visit investools.com

I hope this helps future traders but, if you must know, you gotta digest all the info in the options part if you’re to get a grip on the thing.

1 Star Too much and too little
I found the book way too cumbersome. The author tries to write about everything financial and as a result does it very poorly.

I found the section on Options especially weak. He’s taken a straight forward subject and made it seem more complicated.

Pass on this one!

1 Star Confusing with mistakes
I’m new to options so this seemed to be a good place to start and some of the information was helpful but when I found a glaring mistake on page 75 I lost faith in the book and won’t finish it. An example is given of a covered call that is supposed to make $500 or 10% but it actually looses you money with commissions..Read at you own risk

Buy/More Info

Futures and Options For Dummies For Dummies Business and Personal Finance

The days of buying and holding stocks and mutual funds for years are gone; nowadays, futures and option markets offer some of the best opportunities to make money trading in volatile times. But like all investments, high risk is involved, and in order to become a successful trader you must be prepared to work as a geopolitical analyst, a money manager, and an expert in all types of commodity markets.

Futures & Options For Dummies will show you how trading is done and how to survive and succeed in these ever-changing markets. Filled with nuts-and-bolts advice, you’ll soon discover how to manage the risks involved and reap the rewards of futures and options trading. This straightforward guide gives you the tools you need to understand:

• Ins and outs of trading futures and options
• How to analyze the markets and develop strategies
• Interest-rate futures and speculating with currencies
• How to stock up on indexes
• The direction of commodity futures
• Organizing your financial data and calculating your worth
• Developing strategies now to avoid pain later
• The execution of successful trades

Trading takes an iron-cast stomach and nerves of steel to perform, and this book features ways to keep yourself sane and secure. It also lists resourceful Web sites, commodity exchanges, books, newsletters, and magazines to assist in your trading endeavors. From technical analysis to finding a broker, Futures & Options For Dummies has all the information you need to capitalize on these markets!

User Ratings and Reviews

2 Stars Short on details
This isn’t what you expect from the “For Dummies” series. Meaning you don’t close the book feeling you can get started with confidence (unlike, say, Currency Trading for Dummies, after which you can do just that). Overall it’s a useful primer but nothing more. Its strengths are some macroeconomic insights and occasional tips on how the big players play the game. It is average in terms of giving the basics on calls and puts and basic spreads, and it gives the usual overview of charting and technical analysis. The three main weaknesses are: 1) An overemphasis on using historical charts to show where you could have bought and sold based entirely on 20/20 hindsight; 2) Trying to cram in too many subjects in the second half of the book, offering brief intros with very few insights but what feels like at least 2 warning per page on “Don’t forget there is risk involved” and “Moves can be huge and reversals are unexpected;” 3) An absence of an overview of the tools and software available. This last is the clincher why I gave it only 2 stars. Because trading in futures is considered the big league (and rightly so, because there IS huge risk involved), the best softwares cost money and are sold business to business. It is still not considered the realm of the burgeoning individual speculator. For internet software, well for any software, you need to have a simulation so you are expert in the workings of the software before trying to trade real time- imagine losing thousands of dollars because you don’t understand how to correctly set up your spread in the software!

If software does include a simulation package for evaluation, it is likely using simulated data. The better software packages that offer simulation for options will balk at futures and tell you you need to be approved for a futures account, in other words you need to commit before seeing it. This current grey area for individual speculation is to be expected, but that’s why I bought the book, hoping it would bridge those gaps. It did not.

5 Stars need to know
If you’re new to options, this is _the_ book to start with. Surely, online resources are plentiful, but no single web site can give you all the information and explanations you need to really get a good grasp on whqat exactly might be happenning. I’ve already made some money in options but, believe it or not, I’ve made more in stocks because I didn’t quite grasp how these things work. This said, if you understand options and have a good idea of how the underlying (stock) is going to perform you can see your option appreciate 20, 50, or even 100 plus percent in a very short time. This is the draw of options. The most important thing you need to know, however, and this is ‘experience’ speaking, is that you have to, i mean, have to reel in your money if you see so much as 5 or 10 cent markdown in the price of your option. Why? because, unlike stocks, you can always buy right back in if the thing does start going your way With stocks, you usually hold it until you see , say, an 8% depreciation in value. This is not true with options. If you have, say, ten contracts, you’re leveraging 1000 shares. Thus, if your thing goes down 5 cents, you’ve lost 50 dollars; 10 cents, 100 dollars and this usually happens intra-day, within a few minutes. For this reason, options are classified as ‘high risk’, but it’s only high risk if you’re averse to gettting rid of them. Stocks might take 2 or 3 or 5 days or more to show such a drop; that’s when you might sell. Oh, and one more thing…having the right software makes or breaks your trading. Schwab offers options, but not any kind of software that gives you all the information and tools you need. Check around; there’s a few that offer killer stuff. Visit investools.com

I hope this helps future traders but, if you must know, you gotta digest all the info in the options part if you’re to get a grip on the thing.

1 Star Confusing with mistakes
I’m new to options so this seemed to be a good place to start and some of the information was helpful but when I found a glaring mistake on page 75 I lost faith in the book and won’t finish it. An example is given of a covered call that is supposed to make $500 or 10% but it actually looses you money with commissions..Read at you own risk

1 Star Too much and too little
I found the book way too cumbersome. The author tries to write about everything financial and as a result does it very poorly.

I found the section on Options especially weak. He’s taken a straight forward subject and made it seem more complicated.

Pass on this one!

5 Stars Good as Always
Helped pass the Series 3 license, and helps with understading the industry.

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The Complete Guide to Currency Trading and Investing How to Earn High Rates of Return Safely and Take Control of Your Investments

In recent years many smart investors have exited the stock market and other investment areas because they have essentially lost control of their investments. They have relied on the advice and skill of their brokers, bankers, and financial advisors. Many investment and retirement accounts have dwindled. Fortunately, there is a wonderful but little-understood alternative: currency trading and investing. As with many other business segments, the Internet and technology have opened up this attractive marketplace to a new breed of individual investors and speculators working part-time. You and I can now stand on an even playing field with the largest banks and trading institutions from the comfort of home. Currency trading is the practice of exchanging one country’s currency for another country’s currency. The foreign exchange (Currency or Forex or FX) market is the largest trading market in the world exceeding $1.9 trillion every single day! Essentially there are four variables involved: currencies, exchange rate, time, and interest rate. The relationships of these variables create opportunities for small investors to obtain investment returns that are generally unheard of in the traditional investment world. You owe it to yourself and your family to begin to learn about currency trading. You can get started with just $100 or less, and the investment can easily be managed in a part-time capacity, usually requiring a few hours on the Internet a week from your home or your office. Currency investments can provide you with very high and secure rate of return, in some cases as high as 12%, 18%, 24%, or even 1,000% or more per year. If performed correctly, currency trading will far outpace all other investments. The key is to know how to perform this process correctly. This all sounds great, but what is the catch? There really is none, except you must know what you are doing! This groundbreaking and exhaustively researched new book will provide everything you need to know to get you started generating high-investment returns with low risk from start to finish, and you can start with less than $100. You will learn what currency trading is; how to invest in foreign currency; trading strategies and tactics; technological considerations; how to set up your account online; purchase currency online; day trader insights; current trends; Pivot Programs; price projectors; futures predicting; trading software; insider secrets to help you double or even triple your investment all while avoiding traps and pitfalls. If you are interested in learning hundreds of hints, tricks, and secrets on how to earn enormous profits in currency trading while controlling your investments, then this book is for you.

User Ratings and Reviews

3 Stars More stars for beginner. For more Advanced too Basic, so 3 star.
The book has good a content for a beginner. For a more advanced forex person this book is too basic, that is why I give 3 stars.

4 Stars Trading Made Easier
The Foreign Exchange Market is where world currencies are bought and sold, serving as the largest financial trade market in the world with an estimated $1.9 trillion generated per day. While not everyone understands the ins and outs of currency trading and investing, this complete guide will explain to readers how this economic machine works and impacts their success rate with their personal investments.

Serious investors know they must diversify their portfolio, but rarely consider currency trading. This book navigates the Foreign Exchange Market and futures markets, providing basic information for novice traders to help them notch up their investments and enjoy not just a financial gain, but an information gain, as well.

The book starts out simply addressing currently trading, including the G8, Central Banks, the International Monetary Fund and the role of currency traders. With not enough information out there on this subject, novice traders will be encouraged to find detailed information about Central Banks, ranging from how to peg the U.S. dollar to the role of the Maastricht Treaty, the Bank of Japan and foreign currency like the Euro, the Yen, the British Pound and the Swiss Franc.

Novice traders will glean valuable information about the Foreign Exchange Market and trading. They’ll learn about click and deal trading, retail platforms, paper trading, micro accounts and the common forms of trading: spot trading, forwards trading, options trading and futures trading.

It’s important to know the lingo involved in trading and this book shares the terms and definitions of common speak used in this field, as well as the mechanics of the Foreign Exchange Market. The appendix of this book provides pertinent and valuable information for those readers wanting to learn even more about this subject, such as Web sites and charts.

3 Stars Nothing less or more than a decent intro
If you haven’t read anything about FX market, this may be a good start. But if you already read any introductory handbook, this one will be redundant.

Also I agree that there was too much of reference. There is ca. 190 pages of real content and ca 90 pages of additional stuff that generally could be found in the Internet.

4 Stars Money is not just paper anymore!
For anyone that is looking to enter the world of currency trading and investing, this book is a must-read. After reading this book, I acquired a solid basic knowledge of this area of financing. Burrell starts with the history of currency and banking, and finishes with procedures that will help you to analyze the market, as well as yourself.

The first chapters explain currency trading and the history of the banks and other financial giants that have an affect on the currency market. I felt the urge to skip these chapters due to dry subject matter and a lot of abbreviations, yet realized that this information would help me to understand how these financial giants affect the financial world. The remaining chapters involve terminology and the actual processes needed for analyzing the markets. Burrell also explains the present online trading and investing practices, as well as the pitfalls to avoid. The final chapters explain how currency trading can affect a person, and some things to consider before entering into this area of trading and investment.

Not being financially proficient, I was impressed with Burrell’s writing. Her way of teaching was simple enough, yet was written respectfully as far as the level of vocabulary that he used. The information that Burrell provides is useful and to the point. This book is not for casual reading; it is meant to be studied. I would recommend this book for people wanting to learn the basics when contemplating entering the world of currency trading.

1 Star Edgar
Don’t buy it. Half way through the book, I hand’t learned how to apply anything. This book doesn’t engage the reader, as a book that teaches you anything should. I’m almost angry that people can away with selling ineffective material.

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Forex Patterns and Probabilities Trading Strategies for Trending and Range Bound Markets Wiley Trading

While most books on trading deal with general concepts and shy away from specifics, Forex Patterns and Probabilities provides you with real-world strategies and a rare sense of clarity about the specific mechanics of currency trading. Leading trading educator Ed Ponsi will explain the driving forces in the currency markets and will provide strategies to enter, exit, and manage successful trades. Dozens of chart examples and explanations will guide you each step of the way and allow the reader to “look over the shoulder” of a professional trader hard at work at his craft.

This book provides traders with step-by-step methodologies that are based on real market tendencies. The strategies in this book are presented clearly and in detail, so that anyone who wishes to can learn how to trade like a professional. It is written in a style that is easy to understand, so that the reader can quickly learn and use the techniques provided.

User Ratings and Reviews

5 Stars Outstanding book on the subject.
FOREX trading, like all trading, is no cake-walk, as any experienced trader well knows! As any serious student soon finds out! Success only comes with serious study, practice and perseverance. In the business of FOREX trading that means; taking courses (more than two or three), burning up a truckload of the “demo” accounts and reading a number books on the subject of FOREX trading, as well as trading in general, including the classics; Livermore, LeFevre, Malkiel, etc.

Ed Ponsi’s book may well become one of the gospels on trading! It should be required reading by anyone just starting, or wanting to improve his or her skills at FOREX trading.

Read FOREX Patterns and Probabilities by Ed Ponsi and then go back and read it again! Study this book, if you’re serious about FOREX trading.

His very clear writing and easy to understand examples should make this book a classic among practical trading books. The beginner as well as the advanced student or experienced trader will benefit from reading “FOREX Patterns and Probabilites”, by Ed Ponsi. Thanks.

5 Stars An Absolutely No Nonsense Forex Book!!!
Many Forex books fall short, deliver little, and they address currency trading in a general manner. Well, this book is different from the rest. It is very well written. The quality and clarity of the information contained in this book is quite remarkable. There is no fluff in it. It contains clearly presented strategies (trade set-ups) you can use to trade right away. This Forex book is outstanding - no hype, no nonsense in it. Thank you Ed.

4 Stars Patterns and Probabilities
Ed Ponsi’s explanation of trading strategies for trending and range bound markets is a well written publication. Although one would not expect him to demonstrate everything that is needed to be known on this subject what he does cover is certainly drawn from his past experience and as such extremely informative. Bottom line is though if you are new to forex it is a must read especially since the potential pitfalls of the trade are definitely well highlighted.

5 Stars Clearly written and it truly teaches!
I have been following Ed Ponsi for a while and the book has really helped me put the methods into practice. The book is well written and a pretty quick read.

The trading plans make it easier to create a discipline to follow. Although I must still battle my occasional desire to input some of my emotional guesses into a trade, which rarely work. Like Ed points out in the book you are not going to win every trade, you may even have a string of losses, but with risk management your losses are small and easier to absorb. Subsequently, the winners do run very well and absorb those nagging little losses. That has been my biggest improvement is the risk management!!! It has allowed me to win, by placing trades confidently and no sweating every little move. CONFIDENT and CLEAR THINKING!

Jose H, South Florida

5 Stars Great Forex Book
If you really seriously want to trade Forex you must read this book first. I like the way ED trade. I know he really make big money with all the strategies. The best thing you can learn how to enter, exit and stop on the right place. ED give the real view as a forex trader. All what he write is true because I’m the forex trader and from this book I learn what I did wrong and what I did right!

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Currency Trading For Dummies For Dummies Business and Personal Finance

Features forex market guidelines and sample trading plans

The fun and easy way to get started in currency trading

Want to capitalize on the growing forex market? This nuts-and-bolts guide gives you a step-by-step action plan for understanding and trading the forex market. It offers practical guidance and savvy tips in everything from comprehending currency quotes to using leverage, trading with fundamentals, and navigating technical analysis.

• Identify trading opportunities
• Understand what drives the market
• Choose a trading broker
• Execute a successful trade
• Minimize risk and maximize profit
• Analyze currency charts

User Ratings and Reviews

5 Stars Currency trading for dummies and intelligent people alike
For the money, this book is worth every cent. Prior to reading this book, I had only read one other book on currency trading. The first book I read was unfortunately a sales pitch for the author’s retail software. After reading this book, I regained confidence in the idea that one could gain objective information from a beginners guide to FOREX.

I have an undergraduate background in international business and economics and learned a tremendous deal about how the actual mechanics of the FOREX market work as opposed to the theory behind fundamental analysis, FED policy, interest rates, inflation, and the like.

I highly recommend this book as a beginners guide to currency trading. There were many things that I read which whetted my appetite to learn more about the field. As far as my opinion goes based on further reading of trading and analysis of markets, I don’t believe that this book will teach you how to become a profitable trader but it will definitely give you a solid foundation to build upon.

4 Stars Don’t be fooled by the title.
You only need to read the ‘about the authors’ section to know you are about to be well informed by two very successful individuals with deep experience in the forex market. It’s a good and easy read. While reading it you feel like you’re being handed the keys to the kingdom, and you are, to a certain extent. I personally felt a great sense of excitement while reading it. Here is a book that is truly giving you a great overview of all that you’ll need to learn and investigate further in order to be successful in the forex market. For anyone looking for a ‘Dummies’ book, you’re getting so much more here than you bargained for(in a good way) for your money.

At first I was annoyed a bit by some of the repetitiveness, but as the read went on I realized that it actually helped in the memorizing and driving home different points. I think I only fast forwarded maybe 10 pages throughout the entire book, which is really good for someone with a short attention span like me.

I only gave it 4 stars because I tend to read the negative reviews more so than the positive ones and make my decisions on those. For like only $16. bucks or whatever it was you can’t go wrong with this one.

Remember, the only difference between the 70% losers and the 11.5% winners is knowledge, and putting in the work to make it happen. It’ll become reality for you if you keep at it and don’t give up. Stay in it for the long haul.

4 Stars Good! But it could be better!
MINUSES:

1.”American” language.

If you live in Europe, you will have some problems with authors’ expressions.

2.Sometimes- illogical and chaotic writing style.

One theme can begin in chapter3, then to continue in chapter6, and then end in chapter9.

3.Some terms are not explained.

4.Weak chapter about technical analysis.

5.Few and weak trading setups.

6.Mistakes.

I found 2-3. (I have no time, to explain those.)

PLUSES:

1.The most exhaustive book about forex in book market.

2.This book converts you from dummy to intermediate immediately after reading.

3.In this book there is important information you will not find in other books or sites.

It is valuable book, but it could be better and I hope-next editions will be better!

So- I highly recommend this book to all forex dummies!

If you are forex dummy- start with this book!

5 Stars Perfect for a newbie
I am a newbie to currency trading and this book has already given me enough information to start trading. It discusses all aspects in an easy to understand format. This is a must read for the newbie as well as a great reference for those with some trading history. Use it and profit!

4 Stars Now’s a time to beat Wall Street
Let’s face it, we’re losing trillions off Wall Street. But if you time it right, you can buy some cheap currencies now that’s going to lead to some solid gains in the future. People are flocking to the dollar which will have the opposite effect down the road with euro and other strong currencies. This book guides you to all of that (the other FOREX books are absolutely weak). See my other reviews for recommendations on how to beat Wall Street.

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