Video Trade Journal by 
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| Tom Aspray began doing computer analysis of the financial markets in the early 1980s. He helped to introduce many of the technical tools that are now very popular through his writings and lectures around the world. He now works as a private consultant and educator. |
Read the full review of MoneyShow.com’s "Book of the Month"! http://www.moneyshow.com//trading/books.asp?aid=BOM-TE-08-14947
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In the past year, the dollar has spent quite a bit of time on the front pages and needless to say has not slowed the exponential growth in FX trading. This interest should increase the demand for Wayne McDonell’s new book, FX Bootcamp’s Guide to Strategic and Tactical Forex Trading. One of the steps I always take when reviewing a book is to read the preface or foreword to understand the author’s goal as this helps me better assess the book. Wayne shares an interesting perspective in the preface of his book, pointing out the fact that 90% of FX traders fail may be a good thing since it means 10% make all the money. It is his opinion that traders fail because "they are not willing or able to do the work required to become an amazing trader." Additionally he points out that "patience and discipline are just as important as technical and fundamental analysis." The book is divided into five parts and starts off with a discussion of both lagging and leading indicators. In these chapters, Wayne covers the MACD, stochastics, Fibonacci, and pivot point analysis. The latter two he thinks of as leading indicators since both are looking for future price points as opposed to analyzing past data with the MACD or stochastics. Part Two focuses on what Wayne calls strategic analysis, where he teaches how to develop a bias in a currency pair that will help you stay with the longer-term trend. In order to achieve this, Wayne feels you have to look at global money flow, economic performance, and central banking operations… Overall this was one of the better FX books I have read in some time and one I can whole-heartedly recommend. … the book is well worth the time and money for both the novice and experienced traders. If you have been trading for some time and are not satisfied with your performance the book may help you fine-tune your trading, and I would bet that the book will be a good re-read in future years. You can buy this book at with a Pre-Release Discount of 37% here: http://www.amazon.com/Bootcamp-Guide-Strategic-Tactical-Trading/dp/0470187700/ref=sr_1_28?ie=UTF8&s=books&qid=1216974999&sr=1-28 |
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