But titles can mean anything these days and I am left wondering whether he really trades for a living. You can, literally, find free and very well documented information on the internet that covers all 10 chapters! Determine your own trading style, and the versatile currency market will accommodate it.
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They certainly have a in-depth knowledge of the Forex industry. Michael Greenberg Share this article. Got a news tip? Let Us Know Found a mistake? Congrats Kathy and Boris! Best of trading success to you two in the years to come!
Wow…this is some news! I wish them all the very best in this new entrepreneurship. Best of the Week. Be it a typo or a factual error - we do our best but we are also human! Read reviews that mention forex trading traders bands setups indicators boris bollinger schlossberg tools trades trade chapters chart simply candlestick patterns profitable useful approach.
There was a problem filtering reviews right now. Please try again later. This provides you with a clear understanding and how to understand how the Forex works. You will read through this book and find out that the market is very simple and nothing is complicated.
There is no "magic trading bot" or "secret trading strategies. With that said, for some; this is the hard part, people simply do not follow instructions well! Do the work and get the results. It's just that simple. One person found this helpful. Kindle Edition Verified Purchase. Boris Schlossberg in this book covers the basics of technical analysis in a way digestible for new traders, explains basics like candlestick patterns, and indicators like moving averages, Bollinger Bands, RSI, among others.
In the last pages he presents practical trading setups and strategies, along with some very interesting money management approaches. After reading this book, readers should consider also reading the books by Kathy Lien Mr. Schlossberg partner in BKForex.
Very Good Book, will aid the novice in understanding forex. I wish the author had spent a little more detail in going over how he looks at these set-ups when he is deciding to trade. I would demo these set-ups 1st. I liked how they worked in the demo once I learned how each worked in terms of targets and setting stops etc.
An intro to forex book. You have to wait till chapter 10 before you see something unique to the book. The other chapters are spent talking about what you can read up on most forex websites.
Not exactly keen on Bollinger bands, so my interest was nil. If you are a complete beginner to forex, this book may be useful.. Many of the recent books on FX have been of such poor quality that I wonder where our priorities are. Publishers, authors and readers seem to have lowered the bar both in terms of the quality of the presentation and in terms of rigor. Are we so impatient that we cannot wait until the text is proofed for errors or until the research is adequately validated and sourced?
Are we just lazy? This is the question on my mind as I finish Schlossberg's book. While it may be an achievement for him personally, it is unfinished and I suspect even he must agree. While I do acknowledge the paucity of books on the FX spot markets -- especially thorough and well written books -- there is no excuse for this one. The two concepts that stood out in this book, and the concepts the author seemed most eager to sell, were the scaling in approach and the Bollinger Band "bands.
You can learn all you need to know about Schlossberg's approach to both by reading his articles on Investopedia and MoneyTec. He published his article on "bands" more than two years go. The rest of his book is just filler You can, literally, find free and very well documented information on the internet that covers all 10 chapters! He also doesn't give credit where credit is due, presenting some concepts without ackowledging the debt owed to his intellectual benefactors and giving the impression I'm sure without realizing it that he is the originator.
This has also become popular in the industry -- taking credit when none is deserved. I won't name names. Specifically, the idea of Bollinger Band "bands" is not original. His only contribution is putting quotes around the "bands". I have personally been using them since , and I was taught by someone else who had been using them since You can find a more diverse discussion of them on any of the major FX forums, but you might have to dig a little.
But these are only my pet peeves. And I am peeved at the author a bit. He is, as he says, a currency strategist for FXCM.
He has also referred to himself as a profesional trader in the past. But titles can mean anything these days and I am left wondering whether he really trades for a living.
All the speaking and seminar tours -- and he does a lot -- leave little time to actually trade consistently. On any time frame but the weekly and monthly. If you are not trading consistently, then you are simply not trading. And if you are writing about trading, then you had better be trading consistently yourself.
Or retired from trading successfully. My doubts go further. The model he presents is statistically very dangerous and requires very precise entry and exit techniques in order to enable the risk model to work. Beginning traders should simply not try this model and instead look for something that has a better reward to risk profile and that has more forgiving entry and exit tactics. He claims the countertrend trades on the Bollinger Band "bands" model he presents have a high probability of success.
This might be true, but traders must remember that he has provided little in the way of precise entry and exit rules and even less on the money and risk management side of the equation. And all of a few sentences on how to determine whether this style of trading is suitable for you. And since it is impossible that he is trading consistently, I wonder if he can really say with an acceptable measure of statistical certainty that his model has been or will be profitable over time.
He would probably be better off not disclosing this information for legal reasons, but acknowledging its importance and explaining its use would go a long way toward making the book credible.
If a new trader jumped in and started trading this model based on the information presented in the book, he or she would merely be "eyeballing it. He has not presented essential statistics to indicate that he employs the model profitably -- yet he gives the impression he is a profitable trader.
In undertaking the exploration of any trading model, I have to know a few things first: Granted, Schlossberg's approach is discretionary and his focus is technical and so is mine , but the lack of any informaton on the measures above -- or their importance to formulating trading models -- has me worried.
Which brings me to a question similar to the first. Are we so impatient about the process of trading -- market research and model selection, self-assessment, and risk management -- that we can't wait to jump into the trade? If we are, I suspect we will all lose. And that is my rating for this book. Booker's claim that this is the only book one needs for technical analysis is pure rubbish. They often speak together at FX expos and Booker himself is selling FX education courses and, in general, Rob's response to everything is "brilliant!
In addition to the above, the charts are poorly presented and some of the patterns, particularly the head and shoulders patterns, are not necessarily valid in the "classical" sense. And the whole thing just feels like a series of previously published articles loosely strung together -- which is in fact what some of the chapters are. This book will not give you the skill you need to carve out a small but profitable niche in the global currency market.
It might give you the confidence, but that and a buck fifty will get you a cup of coffee and maybe a date with the barrista. You're best bet, unfortunately, is to keep reading books on general trading -- in particular the books on stocks and futures.
They still present the best information for our buck fifty. What you need to know about FX specifically is already on the internet and free of charge. Try Elder's "Entries and Exits" to get a feel for what it's like to be a lonely trader. These are the books that a new trader should start with, along with Steenbarger's "Enhancing Trader Performance" forget about his first book unless you just like reading about trading psychology and Gandevani's "How to be a Successful Trader" best yet on practical trading psychology, though full of typographical errors.