The Forex Trading Course: A Self-Study Guide To Becoming a Successful Currency Trader
- ISBN13: 9780470137642
- Condition: NEW
- Notes: Brand New from Publisher. No Remainder Mark.
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.
The Forex Trading Course: A Self-Study Guide To Becoming a Successful Currency Trader
$32.60
5 Comments on “The Forex Trading Course: A Self-Study Guide To Becoming a Successful Currency Trader”
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.
Rating: 3 / 5
This book is supposed to be for beginners in forex. But it is very poorly done. It mostly deals with fundamental analysis, but in a very unorganized and unstraight forward fashion. He shows bar charts and candlestick charts without bothering to explain how to read them. He even starts talking about pips without explaining what a pip is. Then he just gives the standard overview of technical analysis. Nothing truly in depth. He mentions using a practice account, but kind of pooh-poohs it. Then he challenges people to open $5,000 and $10,000 accounts and make 10-15 pip trades. This is not good in my opinion.
A person should open a practice account an stick with it until they can make money consistantly. Then they should open a small account ($1,000-$2,000) and trade partial lots till they get the hang of it. And unless they like scalping (10-15 pip trades), they should aim for 100 pip trades. The only way I could ever make only 10 pips is to risk 30.
Read Currency Trading for Dummies. It is a very well thought out, organized, and certainly more informative than the Forex Trading Course. The dummies book also has suggested reading at the end for further study. The Forex Trading course has a few books mentioned throughout, but considering how bad The Forex Trading Course is put together, I wouldn’t trust the books listed outright.
Rating: 2 / 5
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
Rating: 5 / 5
Definately for beginners – deals with some fundamentals, but not much more. The final chapter of the book directs the reader to the author’s website and promises that one can download the ” Learn4x Trading Pad ” which ” uniquely offers built-in analytics on trader performance, allowing the trader to track key performance results”. The link however doesn’t work and I was unable to find, much less download the Trading Pad at the author’s site. I did see several inducements to purchase his book. This was a real let down, as I think most beginners would find such a tool extremely useful in honing their skills.
Rating: 2 / 5
Don’t waste your time here. Big disappointment.
Cofnas writes a monthly article in Futures Magazine which is what led me to this book to begin with. Since his contributions to the magazine are only one page and seemingly topical I thought I’d get the seven course dinner here.
What I got was a reheated burger and warmed over fries.
This man really needs to take some courses on writing books. Thoughts disjointed. Incomplete thoughts. Rambling thoughts.
There are too many GOOD books on what can be a very deep subject( Chandler and Laidi for 2 of the best )for the same money. This is hardly a “Guide to Becoming a Successful Currency Trader” – maybe only in the sense that it will spur you on to find the really good books to become successful.
Cofnas also puts out a series of videos that I had a chance to review but thankfully didn’t pay for. Same problem there.
I honestly don’t know if Cofnas even knows this stuff. If he does it certainly wasn’t evident anywhere in this book. Most points were generic and lacking any real explanation or depth – kind of a list of what to go educate yourself on from some other source.
In any event, trust me, after reading this book you will be no more prepared to tackle what is unequivocally the hardest market of all to trade. The central banks and big private banks can hold their collective breaths a lot longer and with way deeper pockets than any of us.
If you are a seventh grader writing an introductory paper on the subject this book is for you – otherwise pass and keep looking.
Rating: 1 / 5