High Probability Forex Trading
Posted in Boris Schlossberg, Forex Ebook, High Probability Forex Trading, Kathy Lien on November 3rd, 2006There aren’t too many forex books that I endorse… in fact, I don’t think there’s even one!
I suppose if someone were to twist my arm and recommend one there’d be a couple I’d choose from, but most of what you read in forex books nowadays is filler that can be found for free off the internet anyway.
And forex books definitely aren’t cheap these days.
However, all this has recently changed after devouring a new book written by famous forex strategists and authors Kathy Lien and Boris Schlossberg (both work for FXCM) aptly titled, High Probability Trading Setups for the Currency Market.
This book is well written and begins by discussing ten important forex rules that everyone should adhere to should they wish to survive in the forex markets (nothing new for advanced or intermediate forex traders here).
But it’s the second part of the book that excited me the most… they publish EIGHT different trading setups.
Now I’ll admit that none of these are super extraordinary, but that’s due to my experience. Everyone will be different. If you know how some of the more popular indicators work then you may be disappointed as nothing will be a surprise.
But, again, I’ve been around the trading world for over 9 years now and while they used these popular indicators in no new way I was still impressed with how they combined them with other indicators, or simply new where to place stops, and take profits (although there’s nothing revolutionary about their profit taking tactics in most systems) to create a strategy.
So I was impressed with the variety of systems (from reversal to trend following to 5 minute systems to daily systems) that were used and I’m sure that there’ll be one that will suit your trading style.
You can’t go too far wrong with adding this book to your trading collection, and if you focus on trading just one, auditing it every few months, and modifying it accordingly (and then repeating ad infinitum) I’m sure you’ll be well to achieving forex trading success.
Oh, and before I forget they end nicely by informing the reader the importance of economic announcements and which ones to watch out for.
Head over and download your copy now and have a good weekend devouring it.