Synopsis:
In One Hour Trading, Zach Raymond presents a simple forex trading strategy, which he claims will enable traders to make money by working on their forex trading for just one hour a day. The strategy is not an over-simplified or automated system but relies on price action, meaning readers will have to know the basics of forex trading and know, or learn, how to read price action charts.
Review:
The book covers how to recognize and use price action setups to set orders and potentially make money from forex trading. It is not aimed at complete beginners. There is no ‘what is forex trading’ or ‘basics’ section. The book jumps straight in to defining price action and explaining how traders can use it to increase the chances of making profitable trades.
It bodes well that the book starts with a disclaimer explaining how risky forex trading can be and pointing out that losses as well as gains can be expected, creating realistic expectations from the start. Too many forex books aimed at less experienced traders present too optimistic a view of the industry. They skip the importance of discipline and hard work, both of which this author assures readers are necessary in the world of forex trading.
This book succinctly explains what price action is and how to use it and clearly defines important terms. However, it falls short on one very important detail. There are no illustrations of what price action charts actually look like, making it hard for anyone learning this information for the first time to follow along and fully understand the author’s points. A few simple graphs to illustrate what the author is talking about would make this book a more valuable resource.
Details:
ASIN: B00YHHI7ZM
Format: Kindle
Length: 36 pages
Sold By: Amazon Digital Services LLC
Publication Date: May 28, 2015Language: English
