In this book, the author presents a simple forex trading strategy that can be used by new and less experienced traders to start making profits from their trades. The book covers this one practical, systematic, step-by-step strategy in detail, laid out with precise rules that the author suggests readers follow carefully.
This is a fairly short book in which the author goes into deep detail on one particular strategy that he believes can be used by less experienced traders. The book claims this strategy can work well and generate above average returns, even with limited market knowledge, little proficiency with market analysis and small chunks of time.
The book lays out this strategy step by step, covering when to enter and exit positions, where to put your stop losses and profit targets, rules and definitions for common trading patterns and which filter to use to reduce the drawdown. While the strategy itself is clear and well explained, there are fundamental problems with this book.
Like many forex books on the market, this one contains an unrealistic promise in the title. Yes, this is a simple, algorithmic forex strategy, and the strategy itself is a useful one, but no, it cannot guarantee new traders will instantly master ‘profitable forex trading’ as the title suggests. The book is short and simple, but it is not advisable for new traders to jump into forex trading without consulting a lot more educational resources than those provided in this book.
Lastly, the author makes it clear from the start that English is not his first language and that the writing style will reflect this. The book is perfectly readable, but the odd phrasing and occasional grammatical mistakes will no doubt bother some readers.
Length: 55 pages
Sold By: Amazon Digital Services LLC
Publication Date: July 1, 2016Language: English