Review of Come Into My Trading Room: A Complete Guide to Trading by Alexander Elder

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If you already read Alexander Elder’s best seller, ‘Trading for a Living: Shifting focus from technical analysis to the overall management of a trader’s money, time, and strategy’ you will agree with me that Dr. Alexander Elder is a widely traveled man, both in life and in business, and how he tells it is kind of special.  In this book, Dr. Elder expounds more on questions raised in his other trading books and takes the reader through the fundamental secrets of success in forex trading, how to identify new opportunities and using little-known indicators to make a trade profitable.

This book is a complete guide to trading for almost anyone with interest in FX, from the beginner who just found out about the global money market to the seasoned professional seeking new methodologies or trying out new trade experiments and need a reference point.  The book is a fresh look at the 3 Ms – Mind, Method and Money and goes in-depth to explain the strategies and money management services that will make a difference.

Dr. Elder wholly reviews the basics of trading in futures, options and stocks besides forex to expound on the whole principle of buying and selling money to make money and also covers the essential psychological tactics every successful trader needs to know to be organized and become successful in this book.  He believes that by showing a prospective or current forex trader that the best ever combination that wins every time is that of the 3 Ms, and mastering them is the perfect solution to being confident, taking bigger but worthy risks knowing how to trade and finally exiting the trade with significant profits.

Dr. Alexander Elder himself was not born a forex trader, he attended medical school in Estonia and worked as a doctor in a Russian ship before seeking asylum in the US and thinking that there are better ways to earn than working harder.  When you pick up this book, you will read about his journeys and tribulations but you will also learn from his mistakes and miscalculations.  He added a lot of new material about himself and about FX in general in this book that was published in 2002 including the less technical methods of analyzing opportunities, more on money management and new materials on the personality and thinking of a successful FX trader.

The book has many interesting methodologies, but its strength is in the details of trading rather than making a plan or managing risks.  If you are lost as to which trades to pick or cannot seem to make the right decision on choosing your markets, this may not be the best book for you because Dr. Elder does not dwell much on how to choose the trades but rather provides the general rules and guidelines to follow.  This being a guide, I would expect more detail but then, I can’t say I have read all his books.  If you liked any of his previous books, you will most certainly find a comfortable spot once you are invited into Dr. Alexander Elder’s forex Trading Room.

Review of How to Trade a Currency Fund by Jarratt Davis

435eeac2b6737bb1b24d1f71cfd91654For those who have always dreamt of making it big in the forex trade and be professional currency traders, the book ‘How to Trade a Currency Fund’ written by Jarratt Davis is a great resource to expand your knowledge and learn to execute the trades that matter.  If you thought that trading in hedge funds is something that only the high flyers and bank executives, you should read this book to know how one smart young man decided to change his destiny and armed with no industry experience and with zero qualifications leaped into the forex market and came out a winner.  This book sold hundreds of thousands of copies because it promises to detail how Jarratt Davis, the author, made such a tale worth learning from.

The book is titled ‘How to Trade a Currency Fund: The Step by Step Guide That Shows How Anyone Can Trade a Fund’ but I can tell you at this point that if you have no idea what forex trading is or how the money market works, this book is not the best place to start.  This is because Jarratt focuses on showing the intermediate forex trader how to advance and achieve constant and consistent success and building a career in trading in currency funds rather than guide them to get started.

If you have a little experience in trading in the forex market, you will find this book not only insightful and an excellent read but also a gateway into a heaven of immense beneficial information for those who need it.  This book is devoid of any of the fluff and junk that many writers, especially of today who are more focused on getting backlinks rather than providing quality information to those who want it.  The thrilling and at times horrific but genuine revelations the writer makes in this book makes it not only an exciting read but also a captivating story of perseverance, dedication, hard work and constant research.

maxresdefaultYou have probably read quite a number of investment books recommended by other forex traders, but this one is different in one aspect: Jarratt Davis, the author, is a self-made millionaire who entered and taught himself forex trading in 2005 with the intention to support himself as he trotted the globe, but it made him better than what he expected.  He manages to transform himself from a self-employed trader in the retail field and gradually progresses through the ranks to trade in hedge funds rubbing shoulders with the most respected and successful professional forex traders and other investors and traders.

The education you should expect to receive from Jarratt Davis’s ‘How to Trade a Currency Fund’ may form the backbone of the most defining moments of your life as a trader, the mistakes that Jarratt made will help you avoid wasting time making and rectifying the same mistakes.  This, simply put, is the best way to be better than the author, and as you already know, the author is a successful guru in FX.

Review of Day Trading the Currency Market: Technical and Fundamental Strategies To Profit from Market Swings by Kathy Lien

kathy_lien_1_enEach single weekday, the world’s financial powers play their massive ‘high stakes’ game that involves moving over $2 trillion worth of currency across the whole planet at the speed of light.  When the chips are counted after the close of business, there’s certainly a group that wins and then there is a bigger group that loses.  If you are a forex trader, there are very many things you can do to always be on the winning team, but it is not easy.  Kathy Lien wrote the book ‘Day Trading the Currency Market: Technical and Fundamental Strategies To Profit from Market Swings’ as a guide to help ordinary traders and those struggling hard to make trades profitable to cross the elusive line and claim a place at the winning table.

The book’s cover introduces the author, Kathy Lien, as the Chief Currency Strategist at Forex Capital Markets where her job involves providing fundamental and technical research reports, trading strategies and commentaries.  She has also worked at JPMorgan Chase, appeared on CNBC, Stocks and Commodities, Active trader, CBS Market Watch, Futures and SFO where her work has been published.

When you pick up this forex trading book, the first thing you will notice is the high quality of writing – the way the words are phrased, how narratives flow and how the tone is just perfect to convince you that the author knew what she was writing about.  Lien begins this book by comparing the forex market with other trading platforms like futures and equities and explains why the forex market holds the most promising chances of success thanks to low transaction costs, continuous trading, customizable leverage and the fact that it is the largest market in the world.

forex-traderWhether you are a beginner or an intermediate trader, the book ‘Day Trading the Currency Market: Technical and Fundamental Strategies To Profit from Market Swings’ is right for you because it does deep to explain the concept of technical analysis, why technical analysis works best for the FX market and trains you to be a technical trader who can identify new breakouts and trends that offer multiple opportunities to enter and exit the trade.  Lien also covers the currency market from a wide angle but in a relaxed style, dwells a little on the market characteristics such as those that identify the best times to trade, daily ranges to watch, how to manage various variable market conditions and the element of seasonality.

Because Kathy Lien is a very respected member of the global currency trading niche, you cannot go wrong learning and adopting her strategies and using her advice and tips to place yourself on top of the pack.  The book covers a lot more than I have mentioned in this short review, but I can assure you that investing in the book will give you back many times the worth of the book in ideas, tips, guidance and advice and real-life illustrations and examples.  The book can be great for intermediate and experience forex traders but even beginners shouldn’t have a problem understanding it.