| 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. |
|
 Spot on! |
| Review Date: November 4, 2008 |
| Reviewer: Glenn Woodford, Melbourne, Australia |
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. |
I have applied what is in this book and it works.
|
| Review Date: July 3, 2009 |
| Reviewer: Bryan E. Heath, Beverly Hills |
As Wayne McDonell points out - trading is similar to war. You take the high ground and wait for the enemy to approach. In this case it's the trader on the other side of the trade who is the enemy. If you are interested in forex, or already trading, you will find this book a valuable resource. It helped me become a better trader.
Writing in a clear and personally engaging style, McDonell makes sense of the fundamental and technical aspects of what moves currency pairs. He also comes equipped with an arsenal of useful charting tools that help a trader get the "feel" for the direction and speed of the market. The focus is on developing a plan for every trade: wait for price to come to you, determine when to enter, and when to take profit.
A trading style aimed at making "conservative repeatable trades" is what is really at the heart of this book. There are a half dozen or so books available on trading that are worthwhile, and I have read all of them. Some focus on strategy and others on the psychology of trading. McDonell pulls it all together and covers every aspect of trading you need to become a successful trader.
This book works well for traders at all levels of experience who are not consistently making successful trades. Some of the criticisms of the book are valid. But the faults are miniscule when compared to the tremendously useful and insightful content found in every chapter. If I could have only one book on forex trading, it would be this.
|
Simple & Understandable - Very Useful
|
| Review Date: November 7, 2008 |
| Reviewer: Zoran Makrevski, Skopje,Macedonia |
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.
|
Top Notch Forex Resource
|
| Review Date: October 21, 2008 |
| Reviewer: Daniel Bernal, Dallas, Texas |
Strategic and Tactical Forex Trading is the best and most complete forex trading manual that I have read. I can tell you first-hand that there are so many books out there that claim to be filled with the how-to of forex trading, and believe me, I have read them and they fall extremely short.
Wayne McDonell has truly put all the knowledge that is needed to succeed in the forex market...right at our fingertips!
It doesn't matter if you are a first-time trader or, like me, have been trading (and losing) using other so-called systems. This resource has all the tools that you will need; the psychological factors, the fundamental aspects and the technical know-how.
If you are interested in success, Strategic and Tactical Forex Trading is the best resource available, hands down. |
Excellent for all levels.
|
| Review Date: February 27, 2009 |
| Reviewer: Dennis Chong, Singapore |
The FX Bootcamp Guide to Strategic and Tactical Forex Trading is a clear straightforward book that puts the basics of trading forex in simple, easy to understand terms.
It has helped me learn to manage risk, manage my psychology, and plan for a long term career in forex. I would recommend it to any trader who is just starting out.
From this book I have also learnt to understand that every trader including Wayne himself goes through the same struggles as each other and people aren't BORN traders, thus it will also serve as a reminder for experienced traders to stick to the basics.
I thank Wayne for putting his heart and soul into this book and look forward to shaking your hand some day. Thumbs up. |
|
No video reviews found for this product.
No Comments so far ↓
There are no comments yet...Kick things off by filling out the form below.