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Book: The Forex Trading Course: A Self-Study Guide To Becoming a Successful Currency Trader (Wiley Trading) :: Book
Date: Wednesday, 03 December, 2008 :: 21:01
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The Forex Trading Course: A Self-Study Guide To Becoming a Successful Currency Trader (Wiley Trading)
List Price: USD $60.00
from USD $31.81
Product Group: book
Manufacturer: Wiley
Studio: Wiley
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Editorial Review: Product Description
A pioneer in currency trading shares his vast knowledge
The Forex Trading Course is a practical, hands-on guide to mastering currency trading. This book is designed to build an aspiring trader's knowledge base in a step-by-step manner-with each major section followed by a thorough question-and-answer section to ensure mastery of the material. Written in a straightforward and accessible style, The Forex Trading Course outlines a practical way to integrate fundamental and technical analysis to identify high probability patterns and trades; and reveals how to develop a trading plan and appropriate strategies for different size trading accounts; how to control emotions and use emotional intelligence to improve trading performance; and much more. Filled with in-depth insight and practical advice, The Forex Trading Course will prepare readers for the realities of currency trading, and help them evolve and achieve success in this dynamic market.
Abe Cofnas (Orlando, FL) has been the forex trading columnist for Futures magazine since 2001. He formed Learn4x.com-one of the first Web-based interactive training sites devoted to forex trading in 2001 as well. Cofnas is also founder of www.CurrencyGames.com, a forex education and entertainment company.
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Reviews:
Average Customer Review: 
Summary: An excellent introduction to the world of Forex trading
Date: 2008-11-25 - 
Comment: At the outset, let me say that I am definitely at the beginner level with regard to the trading of currencies on forex, but I do feel that I learned a lot after reading this book.
The most important lesson that I took away is that the novice trader needs to spend a heck of a lot of time trying different strategies risking very small amounts of money before before diving in and putting significant amounts at risk. Although there is nothing wrong with learning to trade with a practice account, the authors says that you shouldn't begin with a practice account holding $50,000 or more and then trying to trade $100,000 lots using large amounts of leverage, even if you might be fortunate to have that much money with which to fund your initial real account.
Prior to reading this book I would have assumed that I would always be trying to earn at least 50 or more pips a trade, however this author teaches that there is nothing wrong with simply trying to get a string of wins of only 10 pips at a time until you have a solid record of consistency that would justify going for larger returns. As a novice, I will certainly take his advice to heart and would recommend this book to anyone else who is not already a veteran currency trader.
3 of 4 people found the following review helpful:
Summary: The Forex Trading Course
Date: 2008-08-31 - 
Comment: This is a great book. It filled in a lot of the missing info that new forex traders are missing in their everyday trading. This book has a nice mix of technical and the fundimentals that are missing in a lot of other author's books. This book should be in every new trader's library.
22 of 24 people found the following review helpful:
Summary: THE book for beginners
Date: 2008-02-14 -
Comment: For those of you, like me, who actually want to learn to trade forex and don't know where to start, this is the book to buy. I reviewed lots of others, was disappointed that they either spent most of the book shilling a particular book/system/company, or else they gave a high-level overview of everything in the forex universe, but not much in the way of how-to's. This book's different. The first part explains how/which economic factors affect currency markets; the next section tells you about technical analysis and which/why/how to use it, and also talks a little about strategies. The third part is called "Putting It Together" -- here's where this book really stands out: he explains how to get started, how to do test trades, how to gauge your results, putting on different kinds of trades so that you can compare which worked better, etc. etc. Included is a spreadsheet following one trader's journey from inept beginner to knowledgeable forex trader. He talks about how to trade different size accounts. He talks about determining your trading style and best strategies to use whichever style you select. Note that each subject area is explained with enough detail that you can get started, right now, as you read. But if you want more information (as do I), he tells you where to look. This book is just great. I highly recommend it.
15 of 19 people found the following review helpful:
Summary: The Forex Trading Course
Date: 2008-01-07 -
Comment: I have purchased and read most of the recent books related to Trading Forex. I would place Abe Cofnas' newly released "The Forex Trading Course: A Self-Study Guide to Becoming a Successful Currency Trader" at the top of the list of books to purchase. The author covers the basics of trading: Fundamentals and Technical Analysis in a very in-depth level. However, I feel what sets this book apart from others are discussions of Advanced Strategies (e.g., Renko scalp setup and Pattern Recognition).
This book is a Must Read!
John Echternacht
16 of 17 people found the following review helpful:
Summary: So So
Date: 2007-11-28 - 
Comment: Nothing new or great here. If your just getting started this book will help with the basics. The part about system development is very sparse (essentially just says use ms excel for backtesting). Overall I felt fleeced paying retail for this at B&N.
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