Description
Forex trading is HARD !!
Anyone that tells you any different is, frankly, lying to you, and that is probably 90% of the educators in this market..
That is a bold statement but if you want proof then watch my FREE videos at forextradermark.com where I show the evidence for that statement.
Now... about this book
I wrote the book in 2013, and at the time it sold very well, and was at one time in the number one spot in the Forex book chart. However, If I was to rewrite this book now, in 2023 I would only keep one chapter, which is Chapter 9.
If you buy the book for $3 then it is chapter 9 that you are really paying for.
I still like some of the content in the other chapters but so much has changed in the world of trading since I wrote the book in 2013, that I strongly advise you do the following, if you buy the book:
Read chapter 9 first. I still use the Set & Forget system described in chapter 9 to this day and it is a very important part of my trading plan. Without the system described in chapter 9 I would be a very stressed trader.
If you do read the other chapters please accept my apologies in advance for the cringeworthy selling I do in the book. In hindsight I really wish I had not done that. My only excuse is that I was so enthusiastic and excited back in 2013 about my live trading sessions that I wanted to promote them. In fact I agree with many of the negative reviews that have been written due to the way the book is written. I also no longer use all but one of the technical approaches detailed in the book prior to chapter 9. I use Support & Resistance to help with profit target and stop loss price points. That's it.
99% of my time is spent understanding the markets every day.
Having said that I believe that spending $3 for chapter 9 will be money well invested as it will prevent you from losing money. Set & Forget is a basic mathematical approach that anyone can implement, and you need no math background to do it, but there is a very good reason why I use the ratios that I do in the formula. That took me years to work out, and that is really what you are paying for. I can save you years of testing with that one chapter. The key is in the profit target and stop loss ratio that I use.
So, using the correct ratio detailed in chapter 9 gets you to step 1, which is to prevent the LOSS of money, but it will not get you to step 2, which is to make good money, year in year out. This book is NOT about making money. It is about preventing any LOSSES.
So, as important as my Set & Forget system is, for me to make very good, consistent profits every year, which I have now for 14 years, I have to understand what is going on in the markets. This is the next level of knowledge required, which this book is NOT about.
Forex is not a leading market. Forex currencies FOLLOW what happens in the bond and stock market. So understanding everything about the bond and stock markets is critical if you want success as a Forex trader.
In my experience you need to do two things to be a profitable Forex trader:
•
Have a simple mathematical approach to your profit target and stop loss strategy. That is what you are getting from this book.
•
Have a thorough understanding of all the markets, especially the bond and stock markets, and study them every single day. NO book will give you that.
My biggest regret is that I did not discuss this at any length in the book itself. That second step is VERY difficult, and takes a LONG time to achieve.
Please don't trust anyone that suggests that Forex trading is easy. It is VERY hard, and it takes daily analysis of the markets to make money.
Thanks for reading this introduction and I hope you find chapter 9 informative. As the title of the book says, it is difficult to lose if you follow the very simple mathematical rules in chapter 9.
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