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on October 30, 2014
The author does an excellent job covering an important aspect of trading that is rarely discussed.
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3 of 3 people found the following review helpful
on May 18, 2014
The book starts out well. It builds a case for Sentiment trading, and gets you thinking about how it actually works. The author says technical indicators are a general waste of time (However the latter half of the book is devoted to technical indicators - which makes no sense to sentiment trading... further more... the charts used are actually missing the indicators it says should be there.. pages 142-145... blank charts). Then it begins to fall apart after that. The author explains how he uses COT but never actually helps you understand the COT report itself (if you decide to look at it on line). Nor does the author explain how to set it up on your own spread sheet if you wanted to do that. How to exit a trade is so inadequate as well. Then the time devoted to "putting it all together" is one page of summary that doesn't actually tell you how to put a trading system together. Basically it means you still have a lot of work to do to put together a sentiment trading system as this book doesn't help in doing that. It seems the author attacked the subject with vigour to start with then just dropped the ball half way through and padded it out with indicators - which he says are worthless in the first half of the book anyway. I'd give it 2.5 stars out of 5 as the first half of the book is interesting... the second half you can easily replicate from information on-line and is not relevant to sentiment trading.
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1 of 2 people found the following review helpful
on January 18, 2013
The author asserts that the FX markets depend upon other traders emotions and psychology not on the basis of any real indications. Essentially if traders at large believe the pair will be bullish than lo and behold the pair becomes bullish. He does attack standard fundamental analysis and does something extreme and crazy for a trading book, he backs up his points! Some may want more rigor but I believe he did a fine job proving himself.

He is also advocating a KISS strategy for trading, he wants you to trade longer time frames and then tells you how he does the trading on those time frames. He doesn't bother with many indicators and I think he has a point there. To many signals dilutes the strength of a method. I thought his concise discussion of Elliot wave theory was very good, I've read about Elliot waves before and was left somewhat confused when I actually went to real charts.

I would defiantly recommend this book.
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1 of 2 people found the following review helpful
on October 3, 2012
This book is really good if you are starting at forex trading ... However if you had some time I don't think it would do you any good since you probably know what's going on by now. I decided to buy the book probably seven months after I started trading and I already knew everything since I have the privilege to watch the market all day...
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2 of 3 people found the following review helpful
on November 24, 2011
As a active FX trader and follower of the methods of Larry Williams Jake Bernstein, I found this book essential to developing a workable, scalable and most importantly...profitable trading plan. Backtested and forward tested...in a word, it works! Solid, straightforward writing, examples and formulas. Recommended highly for the experienced trader; newbies probably won't grasp it. It is not a Holy Grail; the methodology requires a good deal of screen time experience and actual manual trading to calibrate the nuances in both calculations and charting. Slog thru it, you will not be sorry! Thank you Jamie!
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1 of 4 people found the following review helpful
on November 12, 2010
One of the best aspects of the book was it changed my perception of the news and how financial information is reported. There are no clear cut trading strategies laid out with entry and exit points. I don't believe this was the intent of the book. What it gives you is a different perspective on how to view hype that's generated by news publications and the media in general. This is the kind of book that I will probably re-read a couple of times before all the absract concepts finally sink in. While it's not what I was looking for, it is something I should understand.
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23 of 31 people found the following review helpful
on October 20, 2010
Below are the dates of the 5 star reviews.

7 of 8 are written on 4 Nov 2008
1 of 8 was written on 3 Nov 2008

The book was published on 4 Aug 2008.

Please draw your own conclusions.
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14 of 17 people found the following review helpful
on November 5, 2008
I am a long time reader of DailyFX site and find it very useful.
One tool that caught my attention some time ago was the COT report column, write by Jamie Saettele.
The book goes further in explain the COT report itself, how to generate indicators from COT data, how to interpret it and, finally, how to use it as a tool to help trigger trades.
Well explained, with plenty of charts, it also has an introduction to Elliot Wave theory, largely used by the author in his tracking of markets.
I recommend the book because of it introduces this subject in a very straight forward way, easy to understand and apply immediately in your trading routine.
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4 of 7 people found the following review helpful
on November 4, 2008
Perhaps it is because I am a woman, but I have long believed that emotions and psychology can move markets more than fundamentals, and Jaime Saettele knocks this concept out of the park in this book. As retail investors like myself begin to dabble more in the foreign exchange markets, it is important to understand how to rationally interpret market sentiment amidst the daily volatility. In these days of information overload with CNBC and Wall Street Journal constantly bombarding the investing public, Saettele outlines how to correctly identify scenarios where going against the majority can translate to profit. This book was highly recommended to me, and I would do the same to anyone looking for an intelligent and entertaining take on how to be a successful long-term investor in the Forex markets.
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3 of 9 people found the following review helpful
on November 4, 2008
As someone who has become increasingly leery of equities (who hasn't), I needed an introduction to a new market. When a friend recommended the Forex market, I bit immediately. The next thing he recommended was Saettele's book. I couldn't be happier with where it's taken me, and I don't miss sweating my stocks one bit. Pick up this book.
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