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Book: The FX Bootcamp Guide to Strategic and Tactical Forex Trading (Wiley Trading) :: Book
Date: Wednesday, 03 December, 2008 :: 22:43
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The FX Bootcamp Guide to Strategic and Tactical Forex Trading (Wiley Trading)
List Price: USD $70.00
from USD $38.59
Product Group: book
Manufacturer: Wiley
Studio: Wiley
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Editorial Review: Product Description
A straightforward guide to trading today's dynamic Forex market Written by Wayne McDonell, the Chief Currency Coach at FX Bootcamp, this book shows readers how to successfully trade the Forex market on their own. FX Bootcamp's Guide to Strategic and Tactical Forex Trading skillfully explains how to combine popular technical indicators to formulate a comprehensive market strategy. Readers will then learn how to focus on using this information to create a tactical trading plan--one that will help them pull the trigger to get in and out of a trade. Along the way, McDonell takes the time to discuss the various challenges a Forex trader faces, such as greed, fear, loss, and isolation. As a Forex trader and educator of traders, Wayne McDonell knows what it takes to make it in the competitive world of Forex. And with FX Bootcamp's Guide to Strategic and Tactical Forex Trading he shows readers how.
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Reviews:
Average Customer Review: 
1 of 1 people found the following review helpful:
Summary: Great book, loved it!
Date: 2008-11-11 - 
Comment: I feel I can read it over and over and still find more insight. A lot of information displayed in such a clear manner. A must read for traders at every level!
1 of 1 people found the following review helpful:
Summary: Simple & Understandable - Very Useful
Date: 2008-11-07 -
Comment: One thing is sure: This book makes ME better trader.
All important aspects of Forex trading are explained. Not bad for 229 page book. No pages filling material.
I had problem with consistency in my trading, and this book teaches me how to get over that problem. I think that every trader, even experienced ones, can learn something from this book.
It is not absolute beginner's book, but if you know the basic things about Forex - you will be fine.
0 of 1 people found the following review helpful:
Summary: For Beginners Only
Date: 2008-11-07 - 
Comment: This book isn't bad, but there is nothing new here that can't be found for free on trading websites. There are no actual trading strategies, just a lot of basic information that is readily available elsewhere. However, there are plenty of advertisements for the author's website and products. There are also many in spelling and grammar, as noted in another review. In short, this book isn't bad but there are better books on forex out there.
1 of 1 people found the following review helpful:
Summary: Straight to the point education on being a professional trader
Date: 2008-11-05 -
Comment: If you are serious about being a successful trader you really ought to consider the small price of this book. Way smaller than any one single stupid trade you will do at some point in your trading career... and this book will help steer you away from that stupid trade.
This book will teach you in a clear and concise way how to become a professional trader. How?
This book is excellent at explaining some key aspects of Technical and Fundamental Analysis. But no - that's not the reason why you should buy this book. I mean there are plenty of other resources where you can learn this type of analysis... and being excellent at fundamental and technical analysis does not mean you will be a successful trader.
There are some excellent explanations of how the Gold, Oil, bond and equity markets are all linked to the largest market of all.... Currencies.
There are some plain simple answers as to why a price goes up up up and then stops dead at a particular level. Why the market falls just after you buy only to shoots up again just after you decide to take the loss.
But what really stands out for me, in this book, is that it taught me how to run my trading account as a business. Understanding how much I should be trading at any given time. How to control my emotions by planning my trade well in advance and only executing if the market does what I planned it might do. If it doesn't then I do not trade. ...and this book also taught me how to examine my trades and find faults. Makes you think twice about putting on a trade if you know you are going to have to justify your actions in writing.
The writer, Mr Wayne McDonell, explains what technical indicators he uses and why, what fundamental analysis he does and why. But what really makes him stand out as the real deal is that he invites you to view him live, once a month, for FREE on the internet where he puts his words into practice.
Callahan
3 of 3 people found the following review helpful:
Summary: Spot on!
Date: 2008-11-04 -
Comment: Wayne really hits the mark with this book. It's a basic summary of the method he teaches at www.fxbootcamp.com. Not only does he cover the technical and fundamental aspects that a successful Forex trader needs to know, but he covers the other all important topics too, like risk analysis, trade plans & journals, trade reviews and having the right mindset to be a successful trader. All with no Fluff!
I found Wayne's book really helped me trade according to MY rules, not the markets rules. This meant that when I trade, it's become a lot of fun again. Now I am trading in one night, profit wise, what I used to trade in one month.
If you want to get a clear sense of what is in this book, have a look at his videos on FXStreet.com blogs called "2 Hour Video: Strategic & Tactical FOREX Trading". blogs.fxstreet.com/fxbootcamp/2008/03/12/2-hour-video-strategic-tactical-forex-trading
I recommend this book to anyone who feels there is room to improve in their Forex trading, or is looking for a reliable, simple system to follow. The method outline in Wayne's book won't give you every pip in a market's movements, but it will provide you with a large portion of them, in a conservative manner.
I also recommend this book to new FX Bootcampers, as it will help them come up to speed quickly, with the method Wayne teachers at FX Bootcamp.
In response to Jeff Marsick's review (RE - Good But Poorly Edited), I agree that this book could have done with more editting. In regards to Wayne's MACD settings of 21, 55, 8, this is in fact correct. One of the things with Wayne's method is that he uses a slowed down MACD oscillator to guage MARKET speed (medium term price action) and a sped up Stochastics oscillator to measure PRICE momentum (short term price action). This is covered in the above mentioned webinar video at around 18 minutes into it.
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