Paid for itself on the 1st trade, November 12, 2010

By D. Snyder (Waconia, MN) –
  

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This review is from: How to Make a Living Trading Foreign Exchange: A Guaranteed Income for Life (Wiley Trading) (Hardcover)

If you are looking to investment in the Forex market then this is a good starting point. WHAT THIS BOOK IS: 1) A complete set of trading strategies with entry and exit points laid out clearly. Although you have to pay some attention to what is being said because there are a couple of ‘mis-statements’ that won’t make sense until you realize they are editting errors and/or typos. 2) A long-term way of investing your money in a reasonably conservative fashion. 3) A good way of earning 5+% return per month on your capital. WHAT THIS BOOK IS NOT: 1) A day trader’s bible. All strategies are based on daily and weekly price movements. 2) A get rich quick scheme. Face the facts, making 5+% per month is pretty darn good. Anyone who promises more is full of what we hauled out of the calf pens when I was growing up. Yes, all the strategies are probably available for free ‘somewhere’ on the internet. But for a couple of bucks you get it all in one spot. I have 1+ years experience trading Forex and in the months of September and October 2010 I made 5+% per month using only the strategies in this book. Would I recommend this to a friend – Yes

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Good book for people who already have money, July 13, 2010

By L. Bell –
  

This review is from: How to Make a Living Trading Foreign Exchange: A Guaranteed Income for Life (Wiley Trading) (Hardcover)

This is an interesting read with some solid methods for trading forex. My biggest complaint is that it only talks about positon (long term) trading based on the daily charts, and has almost nothing about day trading. Position trading is fine if you have a large amout of capitol and can withstand some major drawdowns, but the majority of traders are starting with much less money. The author has been a professional trader for many years, and at least this is a book written by someone who actually does make money consistently and has a long term track record of success. The methods presented are successful in the long run if your account can withstand losing hundreds of pips 45% of the time.

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