 GVI honest advice about currencies |
| Review Date: May 23, 2009 |
| Reviewer: Spotforex, NY |
As a veteran currency trader for institutional clients, interbank dealing and proprietary trading, I find that the Forex Essential in 15 trades is an honest attempt to show how one can approach currency trading. The title itself shows that there is no one `correct method' in successfully trading currencies. Each person has to find what type of trading behavior best suits him or her. The message of the book is that there is no one-way to approach the market.
The book is filled with basic information about the currency market but the real insight is seeing the personality inside most of the 15 trades exemplified in the book. I found that Trade #2 regarding stop-loss orders shows the complexity and frustration of individual trades is just plain honest and to the point. Chapter 8's title of the "King Kong Syndrome" can describe the atmosphere on any interbank desk or hedge fund when one feels like the can always beat the market only to be set up for a big loss. I wish the book explored in more details the personalities behind the trades.
What the book fails to do is really promote the authors website in its proper context. I have been a global-view.com contributor since the site was created in the mid-1990s. Chapter 23 with Forex lessons from Shanghai BC is the typical posting and insight that one can retrieve from the GVI community. The site has some of the sharpest trading minds in the business and again like the title suggests, there is no one `correct' approach towards the market. If buying the book brings one into GVI, then I believe it is the first step towards understanding oneself in trading/managing money.
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Very Helpful for Novice and Intermediate Investors
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| Review Date: March 15, 2009 |
| Reviewer: Jonathan W. Wakelin, |
| I am a relatively new investor (began actively trading in 2004) who decided to enter the ForEx market amidst the recent economic downturn. I have found Bland's treatment of ForEx trading to be extremely informative and valuable to my foray into this sector, and I look forward to applying this methodology to future trades. |
Not possible to understand Forex competitively without this resource
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| Review Date: March 15, 2009 |
| Reviewer: thefrelk, New York, NY United States |
| Simply put, I had a longstanding professional and private interest in FOREX investment which made an understanding of the major approaches to FOREX investment strategies critical to investing success. Between work, professional school, and personal dedication, I probably read about 8 or 9 books dedicated to the subject, the best of which was Meisler and Bland's FOREX essentials. Do yourself a favor and start with this book--even if you're interested in other markets, this book is an extremely useful resource for investment strategies in general. I found the chapters on the Forum Rules of Behavior and How to Use the Forums to be particularly insightful and helpful. |
Enriched my trading experience immensely
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| Review Date: April 7, 2009 |
| Reviewer: Nina C Robinson, New York, NY |
| I don't usually take the time to write reviews... but felt it was a worthwhile endeavor this time. I bought a bunch of books on trading currencies to try and get more perspective on how others think about and approach the forex market. I never worked in finance, so i don't have a personal network of connections to collaborate and share ideas with. This Global-View.com guide, more than any of the other books I picked up, gave me what i was looking for. All the books lay out specific chart patterns, market fundamentals, and different trade setups, but what set this one apart for me was the community behind it. The book is a gateway to this global network of professionals and like-minded traders around the world. It's "crowdsourcing" and knowledge sharing at its finest, brought to bear on the addictively exciting and impossibly complex puzzle that is the fx market. The book and its authors introduced me to a live community that's been my broadening my market knowledge and enriching my trading experience more than any ordinary book on technical studies or fundamental analysis ever could. |
An essential FOREX book
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| Review Date: March 8, 2009 |
| Reviewer: C. Brobeck, Dartmouth, NS Canada |
The foreign exchange market is the world's most active financial market. As such, it offers many opportunities to retail investors (like myself). On the other hand, due to its global, (nearly) 24/7, operation and the high amounts of leverage available, it poses many risks, particularly to those who come from outside the traditional institutional trading community.
Trading effectively on the foreign exchange markets has 3 key aspects:
1) Understanding the markets;
2) Understanding your tools (including money management);
3) Self-discipline and analysis.
Although simple to state, becoming proficient in these aspects is difficult. This is especially true for non-institutional traders (institutional traders often have the benefit of immediate mentors, and guidance from their seniors, as they learn the ropes).
John M. Bland, Jay M. Meisler, and Michael D. Archer have put together a superb framework - particularly for new-to-intermediate traders - on which to build a viable FX trading approach. They bring years of experience, supported by concise (and quite readable) writing. I would also like to add that though I have been trading FX for a decade, and stocks for much longer, I learned a good deal from the book.
In addition to the book, they also introduce the reader to the Global-View FX trading community (at http://www.global-view.com ). This is the preeminent foreign exchange discussion site (it is not a "chat" room, and is moderated sufficiently to remove non-constructive postings while encouraging frank and open discussion). While it is largely professional, it is very open to the new trader (partticularly through it's Help/Learning section), and to those traders (both in FX and otherwise) looking for grounded interpretations of our current economic state.
All in all, my only beef with the book is that they didn't write it ten years ago. It would have saved me a fair bit in tuition from the School of Hard Knocks. But, as I read the book, I realize it's never to late to learn :)
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