Thirty Days of FOREX Trading: Trades, Tactics, and Techniques
Product Description
Whether you’re a full-time trader looking to make a living or a part-time trader looking to make some extra money, the foreign exchange (forex) market has what you desire–the potential to make sizeable profits and 24/7 accessibility.
But to make it in today’s forex market, you need more than a firm understanding of the tools and techniques of this discipline. You need the guidance of someone who has participated, and prevailed, in this type of fast-paced environment.
Raghee Horner has successfully traded in the forex market for over a decade, and now, in Thirty Days of Forex Trading, she shares her experiences in this field by chronicling one full month of trading real money. First, Horner introduces you to the tools of the forex trade, and then she moves on to show you exactly what she does, day after day, to find potentially profitable opportunities in the forex market.
Part instructional guide, part trading journal, Thirty Days of Forex Trading will show you–through Horner’s firsthand examples–how to enter the forex market with confidence and exit with profits.
Thirty Days of FOREX Trading: Trades, Tactics, and Techniques
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5 Comments on “Thirty Days of FOREX Trading: Trades, Tactics, and Techniques”
I have started studying trading about three years ago and Forex specifically for about a year. I find Raghee to be honest and her methods to be simple and I can see how they would work if followed. I myself use Fibonacci levels and MACD and find that they work after a fashion like everything else in trading.
I find it refreshing that Raghee does not try to hype anything in her book (she doesn’t even try to sell her indicators). She does like eSignal which is understandable.
The key to any system is that you have to give it time to work. It is very probable to get a string of losses, at which point most traders switch systems. This would be a big mistake. Any trading system must be evaluated over a period of time to get consistent results.
All that said, this book needs a good editor. While the initial chapters are a good introduction, it is not always clear what Raghee is talking about. For example, it would be nice to have a clock face next to the chart to indicate the trend. I can’t always see the trend that she is talking about. I am not sure whether she’s refering to the right edge or the candles leading upto the right edge. Sometimes she seems to lose her train of thought.
It would have been nice to have a position chart at the end of each day. While she identifies entry, exit, and stop on the chart, I am not sure which position that she took. This may have prompted the previous reviwer to conclude that she is not a trader. As it is you have to really read this book with a pen and paper to figure out what trades to take (may not be a bad thing). Raghee, if you read this, you may want to post the trades that you took during this period on your web site. That will go a long way towards validating your method.
Overall, I find this book useful.
Rating: 3 / 5
First off, I am glad I bought this book. I learned a couple of techniques I have never tried before, but I have to admit the material is presented very poorly. The cd included did help, but she doesn’t specifically explain her strategy in the cd. The cd is really a recording of her live sessions with her students, who already know her strategy, so for people who just bought the book it is difficult to glean what is really going on.
The book is very frustrating to read. She seems to be incapable of just clearly presenting step by step what her strategy is. Instead there are bits and pieces of clues to what her strategy is hidden here and there in the book. What she should do is rewrite this and explain step by step by step what her strategy is.
And then when you get to the thirty days, that is frustrating too. All you see each day is a setup, but there is never a complete trade – very strange.
I went to her website and submitted some questions and did get a response – but my questions were never answered. All they were interested in was selling me her expensive course. Once I stated that I wasn’t interested in the course I just got a short email and none of my questions were ever answered, so that makes me think she is more interested in selling things then teaching. Then that makes one think that she makes more money selling her course etc then she does trading.
Even with all of that, I still recommend this book. If you have some experience and have already gone thru plenty of training and studying, you might get a new strategy out of this. Just be forewarned that learning from this book will be like pulling teeth, but it could be well worth it.
Rating: 2 / 5
I am writing this mainly to protect other prospect buyers from a really boring book. Thirty days of Mrs. Horner trading experience, badly described, with undocumented charting support. No one is really interested in what Mrs. Horner had as breakfast, or when she went for a coffee! An intresting idea (thirty days of tradind) really BADLY implemented!
Rating: 1 / 5
This book’s title is deceptive. It isn’t about 30 days of trading, it is about thirty days of Horner identifying market trends and applying her analytics without once placing a trade. Granted, she does give a cursory outline of her “wave” theory, but everything else (Fibonaci retracements, MACD, trend lines, etc.) is pretty standard fare. I’m sorry I purchased this book. Your money is better spent elsewhere, which is ultimately what I did.
Rating: 2 / 5
I bought this book because I was interested to know how professional traders manage their accounts and whats their specific systems to enter/exit forex market.
Raghee Hornor is definitely not a real trader,or a very weak teacher! her system would not qualify you to participate in this business. I acually find her book misleading for new traders.
Before you start FOREX trading(this is if you have a trading plan/system-NOT RAGHEE-HORNOR SET UP), you must locate the coming events in your day trading plan. Are these events going to have high impact(danger), average impact(becareful) or low impact(normal), then decide if the trade worth it or not.
EXAMPLE,If the market broke a strong support level during the beginning of europian session,the market medium trend is down and the coming events have low impact in your trade. this mean the pair you are going to trade has high probabilty to complete its daily average downward.
The writer does not help much in timing the trades( which is the most important subject in forex trading in my point of view).
If you want to participate in forex then I recommend three books to be read before you think of putting your money(BEAT THE ODDS IN FOREX TRADING-I. R. Toshchakov),(TECHNICAL ANALYSIS OF THE CURRENCY MARKET-Boris Schlossberg) and (MASTERING THE TRADE-John F. Carter).
I’m sure there are lots of usefull books around.You should never stop educating youself trader..
Rating: 1 / 5