Thirty Days of FOREX Trading: Trades, Tactics, and Techniques (Wiley Trading) (Hardcover)

by Raghee Horner (Author)
Key Phrases: Analyst Pro, Initial Claims, Crude Inventories (more...)

Editorial Reviews

Product Description
Whether you're a full-time trader looking to make a living or a part-time trader looking to make some extra money, the foreign exchange (forex) market has what you desire--the potential to make sizeable profits and 24/7 accessibility.

But to make it in today's forex market, you need more than a firm understanding of the tools and techniques of this discipline. You need the guidance of someone who has participated, and prevailed, in this type of fast-paced environment.

Raghee Horner has successfully traded in the forex market for over a decade, and now, in Thirty Days of Forex Trading, she shares her experiences in this field by chronicling one full month of trading real money. First, Horner introduces you to the tools of the forex trade, and then she moves on to show you exactly what she does, day after day, to find potentially profitable opportunities in the forex market.

Part instructional guide, part trading journal, Thirty Days of Forex Trading will show you--through Horner's firsthand examples--how to enter the forex market with confidence and exit with profits.

From the Inside Flap
The foreign exchange (forex) market is one of the most dynamic markets in the world. Its flexibility and 24-hour accessibility offer traders tremendous profit-making opportunities. But it takes more than a firm understanding of the tools and techniques of this discipline to make the most of your time in the forex market. What it really takes is the guidance of someone who has participated, and prevailed, in this type of fast-paced environment.

In Thirty Days of Forex Trading, Raghee Horner—one of today's top forex traders and a master teacher of trading systems—shares her experiences in this field, by chronicling one full month of trading real money.

Part instructional guide, part trading journal, Thirty Days of Forex Trading opens with a detailed discussion of all the strategies you will see play out in the coming days—the entries, the exits, and the explanations. Here, Horner takes the time to examine the essential elements of her craft, from different trading styles (momentum, swing, and wave/CCI) and order types (stops, limits, as well as conditional orders) to time-tested indicators (trendlines, MACD, CCI, and The Wave).

After introducing you to the tools of her trade, Horner moves on to show you exactly what she does, day after day, to find potentially profitable opportunities in the forex market. Each chapter of this book contains one day's worth of trading activities—each with its own unique lesson. For example, on Wednesday, February 1, Horner explains everything from scanning for potential setups each morning to trading market overlaps. While on Tuesday, February 14, Horner discusses how and why she took the EUR/USD short. As you follow Horner through each day, you'll not only discover how to enter and exit forex trades for maximum profits, you'll also learn how to ask and answer the questions that help you manage both the risk and reward of a trade.

To support the concepts found throughout this book, a companion CD-ROM has also been included. In it, many of the trades executed in the book are fully analyzed, described, and talked through by the author.

Filled with in-depth insight and practical advice, Thirty Days of Forex Trading can help you become a more effective and profitable trader.

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Product Details

• Hardcover: 264 pages
• Publisher: Wiley (August 11, 2006)
• Language: English
• ISBN-10: 0471934410
• ISBN-13: 978-0471934417
• Product Dimensions: 10.1 x 7.1 x 1.2 inches
• Shipping Weight: 1.4 pounds (View shipping rates and policies)
• Average Customer Review: 3.4 out of 5 stars See all reviews (15 customer reviews)
• Amazon.com Sales Rank: #142,444 in Books (See Bestsellers in Books)

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  #18 in	Books > Business & Investing > Finance > Foreign Exchange
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Customer Reviews

Most Helpful Customer Reviews

16 of 16 people found the following review helpful:

3.0 out of 5 stars Good but....., October 15, 2006

By	Kasu Sista "Student Trader" (Chicago) - See all my reviews (REAL NAME)

I have started studying trading about three years ago and Forex specifically for about a year. I find Raghee to be honest and her methods to be simple and I can see how they would work if followed. I myself use Fibonacci levels and MACD and find that they work after a fashion like everything else in trading.
I find it refreshing that Raghee does not try to hype anything in her book (she doesn't even try to sell her indicators). She does like eSignal which is understandable.
The key to any system is that you have to give it time to work. It is very probable to get a string of losses, at which point most traders switch systems. This would be a big mistake. Any trading system must be evaluated over a period of time to get consistent results.
All that said, this book needs a good editor. While the initial chapters are a good introduction, it is not always clear what Raghee is talking about. For example, it would be nice to have a clock face next to the chart to indicate the trend. I can't always see the trend that she is talking about. I am not sure whether she's refering to the right edge or the candles leading upto the right edge. Sometimes she seems to lose her train of thought.
It would have been nice to have a position chart at the end of each day. While she identifies entry, exit, and stop on the chart, I am not sure which position that she took. This may have prompted the previous reviwer to conclude that she is not a trader. As it is you have to really read this book with a pen and paper to figure out what trades to take (may not be a bad thing). Raghee, if you read this, you may want to post the trades that you took during this period on your web site. That will go a long way towards validating your method.
Overall, I find this book useful.

4 of 4 people found the following review helpful:

2.0 out of 5 stars Mixed review, August 30, 2007

By	Haritasha "haritasha" (Colorado) - See all my reviews

First off, I am glad I bought this book. I learned a couple of techniques I have never tried before, but I have to admit the material is presented very poorly. The cd included did help, but she doesn't specifically explain her strategy in the cd. The cd is really a recording of her live sessions with her students, who already know her strategy, so for people who just bought the book it is difficult to glean what is really going on.

The book is very frustrating to read. She seems to be incapable of just clearly presenting step by step what her strategy is. Instead there are bits and pieces of clues to what her strategy is hidden here and there in the book. What she should do is rewrite this and explain step by step by step what her strategy is.

And then when you get to the thirty days, that is frustrating too. All you see each day is a setup, but there is never a complete trade - very strange.

I went to her website and submitted some questions and did get a response - but my questions were never answered. All they were interested in was selling me her expensive course. Once I stated that I wasn't interested in the course I just got a short email and none of my questions were ever answered, so that makes me think she is more interested in selling things then teaching. Then that makes one think that she makes more money selling her course etc then she does trading.

Even with all of that, I still recommend this book. If you have some experience and have already gone thru plenty of training and studying, you might get a new strategy out of this. Just be forewarned that learning from this book will be like pulling teeth, but it could be well worth it.

8 of 11 people found the following review helpful:

5.0 out of 5 stars Great Teacher, October 11, 2006

By	Rob Morales "3 year trader" (Montana) - See all my reviews

I read the first book and of course the second book and now I am a much more confident trader.

I find her style easy to read and her techniques solid. I have greatly increased my knowledge and understanding of the forex market and charting. She writes in uderstandable language and I have been able to build on all of the lessons in the book to increase my own success as a trader. I recommend this book highly, I have given it to my children and friends. That is how much I have benifitted from her writing.