Novice material that could be dangerous

Let me say right away -

I judge harshly any material that promotes another product. This book promotes the author's website constantly throughout. You must pay to be a member after a trial period LOL



$100 for a measely 7 days!!! That is what the author calls TRIAL. LOL I thought you were trading because you needed money...not because you have tons of money to flush down the toilet?!



Here are the exact current details posted from the author's website -

Trial Membership ($99 for the first 7 days. Then $299.95 for each month)

First 7 days $99. Then $299.95 each 30 days as a full Monthly Member.

Monthly Membership ($299.95 for each month)

Semi-Annual Membership ($1499.95 for 6 months)

Annual Membership ($2400.00 for 12 months)





BEWARE NOVICES !!!!!!!! Tons of people write books and create websites just to get the eager novice to depart with money!



One simple question to ask yourself -

If the author is such a great successful trader...why would he be busy chasing down subscribers? Would you? Wouldn't you be busy scooping up pips and not bothering with some silly website and trying to drum up business for it?



For the money he is charging per month you could buy DVD workshops and seminars from some of the top traders out there and you get to keep those DVDs and watch them over and over at no charge.



I do agree that the general VAGUE substance of this book is generally accurate. You could learn a few things...BUT what this book will teach you is freely available online at some great Forex websites for FREEEEEEEEEEEEE !!!! Just Google search "free forex training" or try "baby pips". You will learn FAR MORE than any beginner book will ever teach you there for free.



Also the candlestick advice in this book is so generic and vague you could lose plenty of money. Let me quote the book -



"Dojis become a most significant reversal signal when seen after an extended rally of long-bodied candles" (by the way the plural of doji is doji...not dojis)



This holds a tiny kernel of truth to it in that doji signals are more powerful signals after a large move in the market. THE TRUTH ENDS THERE. According to THE guru of candlesticks...Steve Nison (the man that brought candlesticks to the West and the one you should learn them from and the man this book gives no credit to as a source for further education)...according to Nison's teachings doji are not reversal signals by themselves. Doji represent transition or confusion in the market. You cannot just assume the market will reverse. You need more confirmation. Candlestick signals by themselves are not reason enough to trade!



For a novice simplistic generic advice like this could wipe your account out in days.





I am not saying the author is a bad person or has bad intentions. I am merely judging the book. I do feel there are many good little tips in it...BUT the same info is available for free. Since this book does not delve into meaty strict detail about anything...you will only scrape the surface get excited and will be more likely to subscribe to the website. I think that is the plan behind this book. For some people...that may be a good thing. As a novice you should research investigate and learn as much as possible before paying one single penny to anyone! How do you know what to pay for or subscribe to when you do not understand Forex trading or any other relative issue????



Use the internet GOOGLE as much as possible...chat in forums take your time and LEARN then make purchase based on intelligence not knee jerk excitement. Forex is rife with scams hustles fast buck programs and systems.More detail ...

Good perspective

Unlike most Forex books this does not reiterate basic strategy and definitions. Rather it assumes that the reader knows the basics and concisely reveals how the Forex dealers can use those strategies against the reader. The author's material corresponds well to common complaints from traders worldwide (check out Forex trader blogs at any website). The graphs are well-laid out and helpful for elaborating on the counter-strategies described by the author. A quick read but surely complex enough for re-reads. I cannot comment on whether the author's strategies will indeed ensuring "beating the dealer" (have not tested them yet) but I think that revealing how the Forex establishment can take advantage of traders will make readers more cautious and less trusting. Should be part of any advanced beginner's library.More detail ...