This is the best ebook on trading I have read in a very long time. Yes, its title does not betray that the ebook has anything to do with trading, and much less so with trading the Forex market, but it really does. To partially understand the origin of this curious title, one has to read through the first paragraph of the book: “The first person I met in the retail forex trading industry, the CEO of the prominent start-up forex company (IB) in South Africa was previously a star trader- in vending machines. The second person I met was the marketing director of a market maker. I expected to meet knowledgeable, successful and profitable traders. I met fast talking, successful, profitable salesmen. I knew I had entered the lion country.”
I decided to quote this fragment not only to explain the ebook title, but also because I can relate really well to the author’s experience: my first would-be-mentor was one fast talking Eddie who still (five years later) advertises his overpriced services to the masses via Stocks and Commodities and other industry rags. My experience with him was worse than miserable, but his lawyers assured me that saying anything more would be highly inadvisable.
This is a very long book, well over 200 pages, yet reading it is a real pleasure and one can hardly find any fluff in it. While the book is dedicated primarily to Forex trading, its ideas and insights are applicable well outside this particular market and those trading other financial instruments, futures in particular, will certainly find this book very interesting and useful. Obviously, those trading Forex will find it most useful. Even though this book is quite suitable for complete beginners, it is not necessarily aimed at them and more advanced traders should consider it as well.
This could be a very good first book on trading in general and not only your first trading book on Forex and here is why: it will either discourage you from trading right away because the picture it paints is far from that of easy money and romantic adventures for real men (and you will be grateful to the author for that forever) or it will help you approach trading in a serious, disciplined manner. Either way, you will benefit from this ebook more than from most out there.
About one third of the book, its first two parts, is dedicated to trading in general and contains one of the soundest opinions on trading you will ever find. One part is specifically about the Forex market, its nature and how it differs from other markets. This part is really good and gives you a very solid understanding of the workings of this market, much better than what you can expect to find in many other ebooks on Forex that tend to be somewhat superficial in this respect. The remaining parts are dedicated to trading methodologies, including the author’s own approach to trading Forex.
I am highly impressed by this ebook and that does not happen to me very often. In fact, not even every year do I come across a book as good as this one. Not only is it very readable, but also written in a very intelligent manner, with a real sense of humor, in a way that is truly honest about trading.
Here is just one small piece of advice from this book that shows that the author knows his subject very well: “There is only one road to success. Your own. You have to learn to put everything together yourself.” I like to put it in a somewhat different and more general way: “you have to find it in yourself.” That’s how you succeed. Not only at trading, but in whatever you aim to succeed at.
If you have never read a single book on trading and you are interested in this field, you cannot possibly go wrong by starting your education with this book. If you are interested in Forex trading, I doubt you will find a better starting point than this fine piece of work. I truly can not recommend this ebook highly enough and I guarantee that you will not be disappointed by its purchase. A mere 70 bucks is all you need to get it.