Without a target market & shallow
Target market
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Regarding profitability there are two types of traders; those making and those losing money. If you are losing money (i.e. your strategy has a negative expectancy or faulty execution) then this text CANNOT HELP YOU. In this circumstance cost averaging as expressed in this text will cause you to lose money faster since the premise is to make up for losses on the next or the next few trades. This is what is known as a Martingale type system (see Wikepedia for info on Martingale). As Van Tharp always says the anti Martingale approach works.
If you are making money with your system i.e. positive expectancy then I would ponder one thing about taking the advice in this text and that is ... Why would I alter my money management system because I've lost a trade? Certainly my money management approach will take into account losses and still be able to steadily increase my portfolio. Additionally increasing your risk on the next trade assumes that your next trade is more likely to be successful than your last trade. Well free Internet research will show that this premise is incorrect. Additionally cost averaging is dangerous and may actually cause a good system to become marginal and a marginal system to lose money. Please read good money management texts for factual evidence to back up my claim (Van K Tharp etc).
Shallow
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With regard to the text's shallowness I can only say that it has no clear strategies. In fact even the cost averaging that the book purports to teach has been handled in a very sketchy fashion with ideas on how to effect it strewn throughout the text in sentences such as "when suffering two or more losses in sequence I do not attempt to recover everything with one trade but spread it out over the next three or four entries" (page 101). Why not the next five or six entries or seven our eight or one or two. Where is the rational behind using the next "three or four" entries. This statement alone should clue newcomers to trading to the fact that cost averaging is very dangerous.
The title is very appealing to those searching for the truth. The closest you will find in this text is the mention of their proprietary ROI (River Oscillator Indicator). I know nothing of the indicator but from the author you get the feeling that it is very good bordering on miraculous. You'll have to pay for it. Nothing wrong with that. However this book does not teach you how to use it. If interested contact Concorde Forex Group find out the cost of the indicator per month and any other costs such as training to use the indicator. Then make a reasonable decision as to whether or not it is worth it to you.
In closing if you have a propensity for gambling (which I don't recommend) then I suggest you review the freely available techniques available on the net. In fact they will even give you detailed methods of how much to risk how much to increase your risk for each subsequent loss and when to quit (when you have reached your draw down limit) which is more specific information than contained in this text.
I live outside the US so lucky for Amazon that it's not cost effective to return this book.
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Possibly the best forex trading book I've read! 
I have read over 10 books on forex trading and this is quite possibly the best one I've purchased. I wish I would have found it before the other ones as then I would have saved a lot of money. 7 Winning Strategies is a very practical guide to improving your chances at success in the forex market. I think one of the primary reasons trading strategies don't work out is because the trader applied the wrong strategy during certain market conditions. Grace Cheng's book covers different strategies to use for different market dynamics. It details how a trader can apply these strategies and it tells you what sort of market conditions the different strategies work best in - and best of all it does it clearly and concisely. You still need to think for yourself but this makes it a whole lot easier to plan your trade and trade your plan! The groundwork that's been done is right on.
Actually I was aware of Grace Cheng before purchasing this book and just like another reviewer I didn't have a very positive impression of her because her Web site looks kind of funky. Don't let that deter you from reading this outstanding book. This book literally taught me not to judge a book by its cover. If you read it and really apply your learnings to developing a strategy that is suited to your trading style you'd understand just how valuable the strategies detailed in this book are.
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So So
Nothing new or great here. If your just getting started this book will help with the basics. The part about system development is very sparse (essentially just says use ms excel for backtesting). Overall I felt fleeced paying retail for this at B&N.
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Good basics but miss a HUGE pointLet me be honest here:
This book provides some really good advice about trading the forex market. Which currencies have what tendencies which times and reports to look out for how to manage trades and money etc. It provides the basics for any beginner. But if you are a beginner you will NOT notice something EXTREMELY important that the authors of this book did not mention ON PURPOSE. The authors in full disclosure state they are associated with [...](i.e. Gain Capital). And while in the book they make it seem that since [...] is part of/is a(n) FCM/CFTC/NFA (basically throwing out terms to a beginner to make it seem safe and legit) the author's on purpose do not mention that [...]is NOT an ECN broker and hence you'd think that with all those acronyms they'd be credible but think otherwise. In real short what this means is that if you are not an ECN broker you are allowed to and most disclose in very fine print hidden among pages of other details they know few will read take on purpose trades opposite of yours (hedge) in order to make more profits and ensure that begineers get wiped out and even good traders don't last for the long term. There are many more terrible practices these bucketshops use like fishing for stops spread manipulation etc and [...]has the "white gloves" implied in this book very much dirty. Just google it if you don't believe me.
Just thought I'd throw this out there for any beginners. Choose your books wisely but don't trust everything they say and make sure you know what they failed to say and why.
EDIT: I don't mean to pick on Gain Capital specifically. All I am saying is when you do go to choose ANY forex broker keep my information in mind since it wasn't outlined in the book.
Edit#2: Just in case another point that wasn't mentioned: rememmber that if your broker is not FDIC insured and they go under all your money with them will almost certainly never be seen again (don't fall for their sales/marketing ploys of "we're the biggest ones" or we have a safe and positive balance sheet; if you never heard of Enron GM WAMU then you'd need to read a bit about them). The only FDIC insured FX broker I know of is CITIFxPro which if you read in fine print is managed by Saxo Bank not CitiBank.
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The Very Best Forex Training AvailableI had read several books on the subject before seeing Jeff Glenellis' book. And I had spent the better part of a year trying to trade Foreign Currency Exchange (Forex) unsuccessully. There are many successful traders using any number of trading methods and many of them offer books about it. But none ever offered to TEACH me their methods (even some to whom I paid significant sums of money) the way Jeff G does in his book.
I bought this book in an earlier revision about a year ago (before it was available thru Amazon). So I have already become proftable using what he teaches in it. Jeff G presents several very concise trading methods in easy-to-follow language. He is also the only one I ever saw present an actual profit progression from compounding where he has actually worked the plan and compounded a small initial startup into a significant sum of money.
But more important than any method he teaches a great deal on how to properly manage the money in your trading account to protect your capital. If you start with $5000 in your forex broker account yet you wipe it all away in a few losses you lose. But with a good method the right money management of your trading capital some consistent work and a little old-fashioned discipline you can start with as little as $200 and compound it all the way to $1M in less than three years -- while drawing out an ever-increasing income every week along the way.
Further many people "bait" you with an intial book but once you buy it then they start to bombard you with more stuff they have to sell that has the "deluxe" or "really great" information. And once you buy that they then proceed to offer you the "super-secret" stuff and so on. Or they "bait" you with the inexpensive book and then want to sell you thousands of dollars worth of "mentoring" (that turns out to be from people who don't even do what they're teaching). Jeff G has done none of that. Since I bought his book originally he has NEVER offered to sell me ANYTHING else extra. All the goods are in the one book.
And as to "mentoring" for those who are interested there is a one-time membership fee (of less than $100) to join his on-going service. Anyone can talk to him personally in the members-only room on most trading days. He actually does what he is teaching does it most every day and any member who wishes may join him there.
And even then he has never asked for even one penny for anything else extra.
For those who wish to learn to trade the Forex successfully I've never seen anything better at any price.
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Praise for
Forex On Five Hours A Week
"The style allows Raghee Horner to tackle the thorniest concept for beginning traders to understand from the outset—shorting. The explanation is one that is the best I've read in many a book all because she is conversing with you within the pages." —KIARA ASHANTI ACTIVE TRADER MAGAZINE
"Just who is Raghee Horner? That's easy. If you are a forex trader Raghee Horner is a young woman who can change your life. She can turn your losses into profits. She can take the mystery out of trading this incredible market."—PETER McKENNA INVESTOR'S BUSINESS DAILY
Trading the forex market has become one of the most popular forms of trading. It's a 24/7 job for many. But what if you have a day job and only a little time to dedicate to the market?
In Forex on Five Hours a Week top forex trader Raghee Horner shows you how with a few key techniques and just five hours a week you can capture consistent profits in the forex market.More detail ...
Praise for
Forex On Five Hours A Week
"The style allows Raghee Horner to tackle the thorniest concept for beginning traders to understand from the outset—shorting. The explanation is one that is the best I've read in many a book all because she is conversing with you within the pages." —KIARA ASHANTI ACTIVE TRADER MAGAZINE
"Just who is Raghee Horner? That's easy. If you are a forex trader Raghee Horner is a young woman who can change your life. She can turn your losses into profits. She can take the mystery out of trading this incredible market."—PETER McKENNA INVESTOR'S BUSINESS DAILY
Trading the forex market has become one of the most popular forms of trading. It's a 24/7 job for many. But what if you have a day job and only a little time to dedicate to the market?
In Forex on Five Hours a Week top forex trader Raghee Horner shows you how with a few key techniques and just five hours a week you can capture consistent profits in the forex market.More detail ...
A straightforward guide to trading today's dynamic Forex market Written by Wayne McDonell the Chief Currency Coach at FX Bootcamp this book shows readers how to successfully trade the Forex market on their own. FX Bootcamp's Guide to Strategic and Tactical Forex Trading skillfully explains how to combine popular technical indicators to formulate a comprehensive market strategy. Readers will then learn how to focus on using this information to create a tactical trading plan--one that will help them pull the trigger to get in and out of a trade. Along the way McDonell takes the time to discuss the various challenges a Forex trader faces such as greed fear loss and isolation. As a Forex trader and educator of traders Wayne McDonell knows what it takes to make it in the competitive world of Forex. And with FX Bootcamp's Guide to Strategic and Tactical Forex Trading he shows readers how.More detail ...
