Take an in-depth, how-to look at Forex trading using the methods, analysis, and insights of a renowned trader, Raghee Horner.
As the fate of the dollar against foreign currency generates both anxiety and opportunities, currency trading has been drawing much interest and a growing following among traders in the United States. The Forex market is particularly attractive because it trades with no gaps and has unlimited guaranteed stop-losses. The liquidity of the Forex market and worldwide participation makes for more reliable and longer lasting trends as well.
Raghee Horner, legendary not only as a top Forex trader but as a master teacher of trading systems and techniques, draws on her winning tools and methods, including classic charting techniques, in this book. She'll enable you, regardless of your skill level as a trader or investor, to understand how the Forex operates and lays out a blueprint for getting starting in this little-understood but high-potential trading vehicle.
Most Helpful Customer Reviews
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.
a) Very bite-sized chapters help encapsulate topics nicely. You...
After all of the hype that I read surrounding this book, I was pretty disappointed with its content. The charts too small to be read easily, and the spelling and punctuation errors were more than I cared for.
The book does give a brief overview of the Forex market, but I was hoping for something more. The author does do a good job of describing her method of trading the market. I must admit that while I was reading the book, I was thinking that her methods seemed just too simple to be effective. However, the day after I finished reading the book, I found and successfully traded both a swing trade and a momentum trade using her techniques. The results were a gain of 30 pips on the swing trade and 75 pips on the momentum trade! This book has definitely given me another way to look for trades and I will continue to follow her "Three-Step Setup".
Different traders have different styles. Some want a zillion confirming indicators before placing a trade, some prefer playing with indicators to trading, and some indulge in the fantasy of finding the "holy grail" system.
Personally, I've never found anything that beats good ole support and resistance, trendlines, and entering the "zone" by watching candlesticks form and candlestick formations. I pay my bills with Forex, and I trade against the indicators only slightly less often than I trade with them. I often forget to look at them at all because I'm focused on what is happening with the ... PRICE!
The problem with indicators is they tell you what has happened but they make you believe they can tell you what WILL happen. There is a world of difference between looking at a historical chart and watching one develop in real time. If you don't believe me, just place a default slow stochastic on a chart and watch the crosses develop. You'll lose a heap of...
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