Average Reviews:
(More customer reviews)I have had the pleasure of seeing Kathy Lien speak twice at Forex seminars. She is very intelligent and has a wonderful personality. You will find some interesting and informative content in this book that can be useful in your educational path in Forex. But it is important to keep in mind that the book is written not by a trading entrepreneur but by a representative of one of the largest Forex brokers. To become a successful trader it is essential to recognize the vast difference in agenda between winning traders and brokers. The entire industry is driven by brokers and almost all material available on learning to trade is tied directly or indirectly to the broker industry whose agenda is to teach trading strategies that make the most money for THEM. Because the industry is unregulated, brokers are able to get away with many less than ethical practices. For instance, it is ironic that another reader mentions how Kathy covers the subject of the "carry trade" in detail. The last time I spoke with FXCM I discovered to my shock that they had adopted the policy of charging a negative interest regardless of which direction one was trading which I believe should be criminal. But there is no regulating agency to prevent them from doing that. Neither the CFTC nor the NFA actually regulate the activity of Forex brokers. Some other brokers, refuse to publish their interest rates or display them in their trading platforms so they can change them behind the scenes every day according to what benefits them the most. You may notice that others have a negative interest that is twice as much as their positive interest. All of this is part of the overall objective to keep the majority of traders focused on day trading which makes the most money for brokers. Studying trading material published by brokers is like asking a casino owner how to gamble. Most of the trading "mentors" are also introducing brokers who make money when you trade. A word to the wise, is that if you intend to succeed in Forex trading consider looking to sources of information that are not tied to any broker such as other traders who have learned to master this arcane art.
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