Average Reviews:
(More customer reviews)I trade futures, stocks and options, with futures now making up the bulk of my trading. I am very interested in learning currencies and gaining additional flexibility in my trading. I came across this book and saw it was a new publication so I pre-ordered. I assumed it would have the latest inside information on currencies and how best to trade them. After the all, the title is "Mastering the Currency Market, Forex Strategies for High and Low Volatility Markets". I have to say that I was sorely disappointed.
The editorial review says the book is divided into these sections:
* The basics of trading currencies
* Fundamental analysis of price valuation
* Technical analysis and trading charts
* Trading philosophy and psychological discipline
* Volatility and risk management
The first 2 sections are the only parts of the book that offer anything unique to currencies. And out of a 292-page book, these sections end after only the first 48 pages. The rest of the book is a basic technical analysis indicator training manual with some candlestick signals thrown in the mix. Starting with simple candlesticks, covering basic chart patterns and looking at multiple time frames for trade confirmation. The book ends with a short treatise on psychology and trading journals, subjects that have entire works dedicated solely to them. There are no unique "Forex" strategies, just basic technical analysis education.
Chapter 1 discusses the basics, names of currency pairs, market times, etc.
Chapter 2 although seemingly lacking real depth may give the most insight to someone interested in mastering currencies. It discusses economic factors affecting currencies and the price movement. There is a handy chart showing economic reports and the usual effect they have on individual currencies.
There is no detailed insight to the individual currency trading instruments or to the Forex market in general. Interesting, the title suggests strategies for high and low volatility. Looking in the book's index, volatility is discussed on one page, in one small paragraph, and it is a less than an introductory discussion. Which Forex strategies work best in which type of market? Where are the high and low volatility examples? What are the best pairs to trade? How do we hedge? Is there any currency correlation? We may never know.
It would have been simpler for the authors to write the first 2 chapters and then add a page that says, "Apply standard technical indicator trading techniques to the currency market." and end the book there.
If you were a beginner trader, I would say you could add this to your library. However there are hundreds, maybe thousands of technical analysis books on the market, many better than this. We surely do not need another one.
Perhaps a better name for the book would have been "A Beginners Guide to Technical Analysis: With some Forex pairs used as examples." Had that been the name, I would have saved myself the return shipping. 2 stars for basic technical analysis, 1 star for any real Forex insight.
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Make Volatility and Risk Work forYou with Forex Trading!
"This book should be in every trader/investor's library. As we come out of thisdepressed market . . . this book can be your companion, helping you avoidmistakes and enhance your trading/investment program."—Bill M. Williams, author of Trading Chaos
"Whether you're just getting started trading the world's most exciting financial market,or you're looking to add to your trading edge, [the authors] have written an engagingbook packed with powerful techniques that you can use right now."—Rob Booker, trader, author, educator, and founder and host of TraderRadio.net
The foreign exchange market is the largesttrading market in the world, withaverage daily volume well into the trillions.Because the market is always characterized byhigh liquidity, forex traders benefit most fromvolatile markets—making it the ideal investmentapproach today and well into the future.
Mastering the Currency Market is a comprehensiveguide to currency and futures tradingstrategies and techniques for both highly volatileand nonvolatile markets.
Putting to work their vast and highly diverseexperience in forex trading, the authors explainhow to take advantage of the many benefitsof foreign exchange trading, includingits low cost of entry afforded by margin, andthe dynamic pricing by nature of the competitivemarketplace. Mastering the CurrencyMarket is divided into five sections covering:
The basics of trading currencies
Fundamental analysis ofprice valuation
Technical analysis andtrading charts
Trading philosophy andpsychological discipline
Volatility and risk management
With four decades of combined experience,the authors clearly communicate to you a tradingmethod that will give you the confidenceto both analyze markets and execute tradessuccessfully, regardless of underlying marketconditions.
As 2008 introduced nightmare scenarios forinvestors around the world, it was Al Gaskill'smost productive period of his trading career.He used the same trading methods spelled outin this book.
Apply the lessons inside and you'll see profitsrise during periods of high market volatility,and when the market slows down, you candownshift to countertrending methods. It'sa win-win investing method, and Masteringthe Currency Market leads you through it everystep of the way.
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