Beat the Forex Dealer: An insider’s look into trading today’s foreign exchange market
March 19, 2010 by Download Top Forex Indicator
Filed under Forex Tools
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- ISBN13: 9780470722084
- Condition: NEW
- Notes: Brand New from Publisher. No Remainder Mark.
Product Description
The foreign-exchange market is often referred to as the Slaughterhouse where novice traders go to get ‘chopped up’. It is one of egos and money, where millions of dollars are won and lost every day and phones are routinely thrown across hectic trading desks. This palpable excitement has led to the explosion of the retail FX market, which has unfortunately spawned a new breed of authors and gurus more than happy to provide misleading and often downright fraudulent information by promising traders riches while making forex trading ‘easy’.
Well I’ll let you in on a little secret: there is nothing easy about trading currencies. If you don’t believe me then stop by Warren Buffet’s office and ask him how he could lose $850m betting on the dollar or ask George Soros why his short yen bets cost him $600m not once but twice in 1994. What’s wrong with these guys, don’t they read FX books?
In reality, the average client’s trading approach combined with the unscrupulous practices of some brokers make spot FX trading more akin to the games found on the Vegas strip than to anything seen on Wall St. The FX market is littered with the remains of day traders and genius ‘systems,’ and to survive in the long-run traders have to realize that they are playing a game where the cards are clearly stacked against them.
Have you ever had your stop hit at a price that turned out to be the low/high for the day? Bad luck perhaps? Maybe. What if it happens more than once? Do you ever feel like the market is out to get you? Well guess what, in this Zero Sum game it absolutely is.
Covering the day-to-day mechanics of the FX market and the unsavoury dealings going on, Beat the Forex Dealer offers traders the market-proven trading techniques needed to side-step dealer traps and develop winning trading methods. Learn from an industry insider the truth behind dirty dealer practices including: stop-hunting, price shading, trading against clients and ‘no dealing desk’ realities.
Detailing the dealer-inspired trading techniques developed by MIGFX Inc, consistently ranked among the world’s leading currency trading firms, the book helps turn average traders into winning traders; and in a market with a 90% loss rate winning traders are in fact quite rare! More than just a simple manual, Beat the Forex Dealer brings to life the excitement of the FX market by delivering insights into some of the greatest trading triumphs and highlighting legendary disasters; all written in an easy to read style.
Make no mistake about it there is a lot of money to be made in currency trading, you just have to know where to look. Sidestepping simple dealer traps is one way of improving your daily p&l, but it is surely not the only one. Successful trading comes down to taking care of the details, which means skipping the theoretical stuff and providing only up-to-date, real-life examples while sharing the FX trading tips that have proved so profitable over the years. By stripping away the theory and getting down to the core of trading, you too will find yourself on the way to beating the forex dealer!
Beat the Forex Dealer: An insider’s look into trading today’s foreign exchange market
Lore E on Fri, 19th Mar 2010 11:22 pm
bought the ebook version of this sometime back for a couple of bucks and thoroughly enjoyed it..short and to the point just like i like my books to be
and actually has some good ideas.
some of his trades are a bit hard to follow, but at least it’s great not to be treated like an idiot for once in a trading book..
Rating: 5 / 5
Donald Allen on Sat, 20th Mar 2010 1:34 am
This is the second review I’ve ever posted and I’m not big on providing my opinion unless I’m VERY upset or impressed and I’m most definitely impressed with this book. Beat the Forex Dealer is by far hands down the best book I’ve never read on the markets! Do yourself a favor and purchase it, it’s well worth it!
Rating: 5 / 5
Richard Greenberg on Sat, 20th Mar 2010 3:12 am
The best kept forex secrects are made available to the retail market. Do not miss tis opportunity!
Rating: 5 / 5
D. Truong on Sat, 20th Mar 2010 5:18 am
I’ve read quite a few books on FX and they all tell you pretty much the same thing, BUT this book gives you an insight from the dealer’s perspective. I didn’t know that the dealers are trading against you and that they trip stops purposely. This book has made me trade differently and I’ve had positive results. This book is a must!
Rating: 5 / 5
Bartolo on Sat, 20th Mar 2010 6:31 am
This is an outstanding book, particularly relevant in this time of turmoil in the markets. Is a type of book which you very seldom find. The author is on your side and this is very helpful during this unique period of such an incredible volatility. The book help you to better understand how the market works and how to take advantage of that.
BM
Rating: 5 / 5
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