Forex System Auto Trading

N. Demir Kupeli February 11th, 2010 at 7:01 am

I am not a FOREX trader. I read this book to have an overview on the subject. This book is indeed good in giving the marketwise fundamentals of the FOREX. Although it is an introductory book, one can learn a lot from it by reading it by thinking.
Rating: 5 / 5

Brad J. Rudy February 11th, 2010 at 11:17 am

If you only read one book on Forex this is it. From the first day after reading this book I was making money. This book gives you background history on Forex, Charting tools and how to use them and Risk Control.

Rating: 5 / 5

Stratomaster February 11th, 2010 at 2:55 pm

Like probably most of you who have “heard about this Forex thing” and would like to learn more, there is an overwhelming abundance of information both on websites and in book form. I am sure a lot of it is really good info, and of course there are plenty of scams, too. While I found some good websites that had free info ([...]), for whatever reason it left me with too little to try to dive in. Likewise, I’m more of a “book person” when it comes to learning. Instead of sitting upright, reading off of a vertical screen; if I’m really studying, I like to do it old-school style, laying on my stomach on the bed, propped up on my elbows with the book open infront of me, pencil in hand, underlining & making notes for me to study later.

So, then the question was: “Which book do I buy?” Because it seems that most Forex books seem to be pricy, I was nervous about picking the “wrong” one that might either be simply bad, or not as complete as another that I could’ve chosen. Anyway, enough about my sentiments, but I mention it because I’m writing this review to assure those of you who are new to Forex, that you can take it from me, another “newbie” who is trying to get a good solid foundation, that I believe this book was a very fortunate, and excellent choice for me. I almost didn’t pick it because it is prsently July 2009, and the book is copyrighted 2006. But the info is still very pertinent and relevant. The book is also well-written with clear examples to illustrate the concepts.

Yes, the book offers a good, concise history of currency exchange and Forex, etc. But what I really got the most out of is the explanation of the fundamental analysis (FA) factors that can influence the Forex market. It is somewhat less focused on technical analysis (TA), but it does have enough to give you a good understanding of some of the most useful technical tools. That was fine with me because, as the book points out, you can get too bogged down with too many technical analysis bells & whistles. I also had a better grasp of TA already from other sources. Anyway, I don’t mean to say it is light on TA, but it I felt it is heavier on FA, which was just what I needed since in my opinion TA is easier to grasp once you’ve studied it. The authors actually recommend a two-pronged approach where FA and TA compliment each other, which is wise.

I also thought that the chapter on Support, Resistance, and Fibonacci analysis was very informative. Then to round out everything they offer 5 sound trading strategies that have been historically proven as effective. Maybe its not news to a more seasoned trader, but for a guy like me ready to dive in, it gives me some good principles to start with. It also has good chapters on money mangement and risk/reward.

For all of these things I give it 5 stars, and I’m even giving it a 6th star because the author offers an incredible wealth of supplemental information for free on his own website. Yes, unlike some “gurus” that refer you to their website so you can pay them more money to subscribe to their trading tips, this author provides an abundance of info that has helped me further my knowledge. There are daily analyses of different currency pairs (kind of like watching the weather forecast except for currency pairs!), an easy to read “score card” of what fundamental factors stack up against each other for each currency pair, and some really great continuing education info with very good video examples of the concepts in action. Oh, yeah, and don’t forget that it its basically offered out of the goodness of the author’s heart I guess (ok, I know, I’m sure he gets paid by all of the advertising on his website!) But it seems like somebody with no ulterior motives who is genuinely interested in helping people learn & profit from the Forex market. [...].

So, 6 stars from me. And thank you John Jagerson and Wade Hansen for giving people like me such a great book, and continued support on your site.
Rating: 5 / 5