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59 of 68 people found the following review helpful
5.0 out of 5 stars Desktop Reference
This book will be a worthwhile addition to the trader's library. After reading Ms. Lien's very thorough presentation there should be few unanswered questions about how the currency market works and how to find profitable trading opportunities. The breadth of currency market information is well beyond what I was expecting. Many of my questions were answered, including...
Published on December 12, 2005 by Mercer King

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228 of 239 people found the following review helpful
3.0 out of 5 stars Good when taken into context
I have had the pleasure of seeing Kathy Lien speak twice at Forex seminars. She is very intelligent and has a wonderful personality. You will find some interesting and informative content in this book that can be useful in your educational path in Forex. But it is important to keep in mind that the book is written not by a trading entrepreneur but by a representative of...
Published on September 26, 2006 by Scott Shubert


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228 of 239 people found the following review helpful
3.0 out of 5 stars Good when taken into context, September 26, 2006
By 
Scott Shubert (Santa Fe, NM tradingmastermind.com) - See all my reviews
(REAL NAME)   
This review is from: Day Trading the Currency Market: Technical and Fundamental Strategies To Profit from Market Swings (Wiley Trading) (Hardcover)
I have had the pleasure of seeing Kathy Lien speak twice at Forex seminars. She is very intelligent and has a wonderful personality. You will find some interesting and informative content in this book that can be useful in your educational path in Forex. But it is important to keep in mind that the book is written not by a trading entrepreneur but by a representative of one of the largest Forex brokers. To become a successful trader it is essential to recognize the vast difference in agenda between winning traders and brokers. The entire industry is driven by brokers and almost all material available on learning to trade is tied directly or indirectly to the broker industry whose agenda is to teach trading strategies that make the most money for THEM. Because the industry is unregulated, brokers are able to get away with many less than ethical practices. For instance, it is ironic that another reader mentions how Kathy covers the subject of the "carry trade" in detail. The last time I spoke with FXCM I discovered to my shock that they had adopted the policy of charging a negative interest regardless of which direction one was trading which I believe should be criminal. But there is no regulating agency to prevent them from doing that. Neither the CFTC nor the NFA actually regulate the activity of Forex brokers. Some other brokers, refuse to publish their interest rates or display them in their trading platforms so they can change them behind the scenes every day according to what benefits them the most. You may notice that others have a negative interest that is twice as much as their positive interest. All of this is part of the overall objective to keep the majority of traders focused on day trading which makes the most money for brokers. Studying trading material published by brokers is like asking a casino owner how to gamble. Most of the trading "mentors" are also introducing brokers who make money when you trade. A word to the wise, is that if you intend to succeed in Forex trading consider looking to sources of information that are not tied to any broker such as other traders who have learned to master this arcane art.
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43 of 43 people found the following review helpful
3.0 out of 5 stars good look at forex market, January 10, 2006
By 
financeworker "fred" (Toronto, Ontario Canada) - See all my reviews
This review is from: Day Trading the Currency Market: Technical and Fundamental Strategies To Profit from Market Swings (Wiley Trading) (Hardcover)
This work presents a fairly complete overview of the forex market, its major participants, currency pairs and how those pairs are influenced and behave. In fact, there was more information about the forex market in general than I was anticipating.

I had purchased the book, believing it was mostly geared towards strategies and techniques for trading the market on an intraday basis. There is one chapter, wherein Kathy gives some very good and reliable techniques for trading intraday, which are essentially built around the 4 Week Rule of trading (a very reliable way of identifying new highs/lows and entering the market when a new trend--or existing trend--is breaking out, along with derivatives of that rule. Anyone who is unfamiliar with the rule can learn the particulars by doing an internet search or purchasing a book such as John Murphy's, Technical Analysis of the Financial Markets.

The small amount of material devoted to actual trading is the only reason I didn't give it more stars, but for someone new to forex trading in general, it would be worthy of more stars and a further look.
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59 of 68 people found the following review helpful
5.0 out of 5 stars Desktop Reference, December 12, 2005
This review is from: Day Trading the Currency Market: Technical and Fundamental Strategies To Profit from Market Swings (Wiley Trading) (Hardcover)
This book will be a worthwhile addition to the trader's library. After reading Ms. Lien's very thorough presentation there should be few unanswered questions about how the currency market works and how to find profitable trading opportunities. The breadth of currency market information is well beyond what I was expecting. Many of my questions were answered, including some that I didn't know to ask. My knowledge of this activity has increased significantly as a result.

Although written for traders, readers interested in the general subject will find it provides a good overview of what the currency market is all about.
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17 of 17 people found the following review helpful
3.0 out of 5 stars Good for newbies, March 15, 2006
By 
DCV (Skopje, Macedonia) - See all my reviews
This review is from: Day Trading the Currency Market: Technical and Fundamental Strategies To Profit from Market Swings (Wiley Trading) (Hardcover)
I am a bit disappointed from the fact that part of this book is just reprint from previously published FXCM course, but overall it's a good reference for people that are in the beginning of their trading career. Kathy also describes several technical strategies for specific situations, but they do not constitute complete trading system. If you know what carry trade, CPI or PPI is, then you probably already know what this book is trying to explain.
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14 of 14 people found the following review helpful
3.0 out of 5 stars an excellent very preliminary introduction to fx trading, November 23, 2006
This review is from: Day Trading the Currency Market: Technical and Fundamental Strategies To Profit from Market Swings (Wiley Trading) (Hardcover)
Kathy Lien, once a forex trader at JP Morgan, has written an excellent introduction to the world of forex day trading. The rave reviews the book has received notwithstanding, I don't think this book is anywhere near detailed enough for anyone to get a grasp of the topic sufficient to allow prudent decisions to be made. There simply is not enough detail. Macroeconomic considerations are not described in sufficient detail; the exercises are of simple best case scenarios; the significance and meaning of statistics and stochastics are not explained.

On the other hand, if you don't have a clue what the forex market is about, this book is a very unchallenging - and from the perspective of a newcomer - quite informative book about the forex markets.
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39 of 46 people found the following review helpful
5.0 out of 5 stars A review from Brazil, January 12, 2006
This review is from: Day Trading the Currency Market: Technical and Fundamental Strategies To Profit from Market Swings (Wiley Trading) (Hardcover)
In summary, I will post a paragraph of an e-mail that I have sent to the author.

"Looks like that I have found the light in the end of the tunnel (that is correct?). This light is your just released book (Day Trading the Currency Market). I have read your book twice. This is the unique book that shows the FOREX in a practical way. I can tell you, after have read other Forex books, yours is a flashlight that shows the path. Sure that I know that it is not a garantee that I will make money, but I realy could understand and see what moves the market. You have shown that the market is not untouchable for us, small traders. I have already tried your technical trading strategies and I am very happy with it."

That's it.
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20 of 22 people found the following review helpful
3.0 out of 5 stars Good for Starters, December 1, 2006
By 
This review is from: Day Trading the Currency Market: Technical and Fundamental Strategies To Profit from Market Swings (Wiley Trading) (Hardcover)
Purchased this book, along with Boris Scholossberg's book, "Technical Analysis of the Currency Market" (both authors are with FXCM).

As an intermediate trader I found both books good for the beginner, especially in conveying the big picture for news trading. Helpful, but not enough to inspire competence and confidence.

As for actual trading techniques I found the book lacking. Mr. Schlossberg's book was more useful in that regard, but still by no means exhaustive, covering only a small number of indicators and techniques.

There's no doubt this book has value to the beginning trader, but I personally think it is important that newbies go online to review sites [...] to get recommendations from other traders for the fastest, and best possible forex education.
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11 of 11 people found the following review helpful
5.0 out of 5 stars The FX Book I've Been Waiting For, May 7, 2006
By 
Eric (Florida, USA) - See all my reviews
This review is from: Day Trading the Currency Market: Technical and Fundamental Strategies To Profit from Market Swings (Wiley Trading) (Hardcover)
First off, let me me tell you that I'm a novice trader with a miniscule role in the gigantic market of currency exchange - with over a trillion dollars moving about each day, it's hard to keep up with the big boys! But chances are, you are on my level too, and I just want to be on the right side of market movements, both massive and small.
Before beginning to play in this market, you need to prepared, and the main weapon you will go into battle with is information.
Granted, this is not the first book on the foreign exchange market, but many of them do not go beyond explanations of macroeconomic reports and the basics of ordering, spreads, etc.
This magnificent text stands apart. These topics are covered, and please read them (honestly, I found Economics to be a bit dull in college, but they are more fascinating when your $$ are on the line). These chapters provide a great background in the overall concept and factors surrounding the only truly global exchange.
Most FX books I've encountered touch on the origins and the fundamental economic factors of foreign exchange, but this book goes beyond and takes you into the trader's mindset. Isn't that what we are looking for, after all the (albeit necessary) prerequisites?
She provides the reader with some of the strategies that she uses, based on technical and fundamental motivations (even seperated into different chapters for the purists), and this is the main feature that sets this book from most of its predecessors.
Granted, many of the examples in the book are based upon trades done nearly two years ago (in some ways, ancient history in the FX market). However, this does not mean that they won't work today, and I feel that the real strength of these plays lie in their interpretation of them by the reader.
Paper trade them, add some oscillators or indicators, and tweak them in your fashion, but they will surely give you some new ideas, which are the best weapons in the trader's arsenal.
Many thanks to Kathy Lien, not only for this great book, but her constantly insightful contributions to the retail trader.
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15 of 16 people found the following review helpful
4.0 out of 5 stars Worth Reading, March 23, 2006
This review is from: Day Trading the Currency Market: Technical and Fundamental Strategies To Profit from Market Swings (Wiley Trading) (Hardcover)
I saw the author speak in Houston and I was impressed with her. By that time I had been trading forex for about a year and a half. That first year was a very expensive tuition.

When I saw the book, I was provoked to buy it simply because of my high regard for the author and to further glean tools and techniques to enhance my trading.

It was a good read, though very much a primer for the novice. This book should be viewed as a beginning to the reading and research a currency trader needs in order to be successful. One will come away from reading this book not with the specfic knowledge one needs to trade successfully, but instead with a direction one needs to take to advance one's skills.
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16 of 18 people found the following review helpful
3.0 out of 5 stars Dummies 101. Too simple and "Fundamental Analysis" biased for FX day trading, November 22, 2006
This review is from: Day Trading the Currency Market: Technical and Fundamental Strategies To Profit from Market Swings (Wiley Trading) (Hardcover)
I agree with most reviewers that this is an easy read covering most of the basic topics, primarily fundamental/economic factors, of the FX market. However, the author had painted too simple and macro a picture of the harsh/choppy day trading environment in which it is very difficult to make money. Little had been discussed on Technical Analysis tools at all on how to avoid the "traps" or "false breakouts" so prevalent nowadays. Sorry to comment that this book resembles more a marketing/briefing material from the highly aggressive FXCM than anything else. For those who already have an acceptable understanding of FX and read to sharpen his/her trading edge, I strongly recommend "High Probability trading by Marcel Link" .
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