Just read through four inexpensive kindle ebooks on forex. Maybe these reviews will help you to decide whether you should bother or not.
1. The Forex Secret Trading Model. Rich Finegan.
”Secret!” Should have been warning enough. Presents a couple of reasonable breakout ideas, however it’s hard to follow as it’s written in a pidgeon English style. With the name Rich Finegan, I didn’t expect it. However maybe I’m a fool and his name is an anagram for Rai Chin Feng (aka China Finger) a Triad member trying to break into the forex scam market.
Anyway, trades the second close of candles breaking out of trendlines created using non standard parabolic SAR to encompass highs and lows, that would have been determined using trendlines from normal diagonal support resistance from highs and lows anyway. Also likes to trade a breakout of 2 ma’s, the 20 ema and 20 sma. A combined ma of such can already be found at Erron Adams excellent authenticfx.com , which has nothing to do with this book. The method also uses the 14 period RSI as a confirmation strength indicator. Above 50 buy, below sell.
What can I say. No mention of stops, targets, and as I said not a well written book.
2. The Simple Art of Trading. Ed Lovett (Who has given himself the handle, Trader Ed.)
Starts off with the usual psychological stuff, trader do’s and don’ts etc and leads up to his websites smallmoneymadebig.com where he is flogging a bunch of nicely presented systems, and calloptionputoptionreviews.com where he displays a weird image of himself, almost painting like, in the artistic style of the famous second world war2 artist, Adolf Hitler.
Well if you’re a sucker go for it.
3. From Dairy Farmer to Forex Trader. Andrew Mitchem.
This is a very nicely written, ”not quite a dairy farm failure to forex trader success story,” complimented with, ”successful forex trader to even more successful forex trading coach story.” Which leads to his website theforextradingcoach.com where you can purchase amongst other things his system for a nice $2497.00 USD.
He does give some secrets away in his book about how he turned the corner from failure to success in his own trading, when he found out how the big players who move the market trade. They use Pivot Points and Fibonacci. Well I would never have thought that!
Just let me reverse this. You are an ok forex trader and decide to give it up for the life of a dairy farmer. When you go to milk the cow, and you don’t know how, and you pull the wrong tit, what do you think you get covered in?
4. Dance with the Elephants. Max Mooney.
Now this one basis their trading methodolgy on WD Gann theory. All in a very short ebook, which is very cheap on amazon and you can get the pdf for free off their website. Not having much knowledge of Gann Angles and the Square of Nine etc, I found the whole thing a bit mystifying and later rather tiresome, not quite finishing it. However don’t worry if you’re a sucker, you will probably go to his website, forexhitandrun.com where you will be hit to pay for the software to use this method and Max will then run all the way laughing to the bank. Well it’s up to you.
By this time on Sunday I’d had enough and decided to pick up up one of my most favourite books by Commander Rob Wilson, 5 Bullets by Joe Trader. Still a great read the nth time around and lead me to google him to see what he’s up to. I know he moved to Australia, invested in Bitcoin and making a killing and I knew he’d set up Bitscan although I didn’t know a lot about it. ( By the way don’t mix him up with Aussie Rob, also Rob Wilson, an Australian forex scam merchant, a totally different Rob Wilson.) Well I ended up watching an interview with him from end of January this year, which lasts over 70 mins and was well worth it. The interviewers link up is pretty poor but as Rob does most of the talking and his end is good quality, you just need to get through the start. You can see Rob is into this in a big way, with his bit of doom mongering, but he’s genuine in that he puts his money where his mouth is. Anyway never forgive you for never continuing with the 5 Bullets course you promised Rob.
Here’s the link and just a word on Rob’s trading style he mentions before I give it. He was always adamant that you needed to trade differently from the short term charts, than the way he describes here and that is well outlined in his book I mentioned earlier. Also if you want to know more about Rob he’s the main attraction on several of Rob Booker’s older traderspodcasts, and he’s interviewed in Tim Bourquin’s book, ”Traders at Work.