The Black Book of Forex Trading: A Proven Method to Become a Profitable Forex Trader in Four Months and Reach Your Financial Freedom by Doing it (Forex Trading) Kindle Edition
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- File size : 5623 KB
- Publication date : April 27, 2015
- Print length : 83 pages
- Publisher : Forex Trading Books; 1st edition (April 27, 2015)
- Word Wise : Enabled
- ASIN : B00WFWBYUQ
- Language: : English
- Enhanced typesetting : Enabled
- Text-to-Speech : Enabled
- X-Ray : Not Enabled
- Screen Reader : Supported
- Lending : Enabled
- Best Sellers Rank: #131,022 in Kindle Store (See Top 100 in Kindle Store)
- Customer Reviews:
Top reviews from the United States
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If you started trading with just the knowledge of this book, you'd get destroyed. This piece of writing is literally dangerous in its oversimplicity.
The chapters are littered with spelling errors (see my attatched image), and the whole thing just reads funny. I'd say it's a cheap publishing job but the sticker price doesn't really reflect that. The graphics are so poorly printed that the white candlesticks don't even show up (see other attatched image).
The author also does the classic trick of mentioning an "expert" who mentored him, and who conveniently wished not to be named. He then brags about making six figures after a few years. Whatever dude. Prove it.
Overall, if this was only a few bucks, fine, but for $20? No way.
Please say this review was helpful so others can see. I will be returning this book.
Paul Langer writes about what you need to get started, stay on track and be successful in Forex trading. Please don't let the small size of the book fool you. It is a small powerful book. It really packs a punch. In the book, Paul Langer teaches how to trade Forex in a no nonsense style. Very quickly, it became clear to me that I will have to drop my bad trading habits (too many lots, forcing trades etc) to be successful.
If you don't have time to read a lot of books, this book is for you. If you are looking for a book without fluff, this book is for you. If you have bad trading habits and need help, this book is for you. If you want to read just what you need to learn how to trade Forex, this book is for you. If you want excellent advice from a trader who made the same trading mistakes you are currently making, buy the book. If you are looking for simple setups that are easy to understand and implement, buy the book.
I bought many expensive Forex books that delivered only marginally what was promised. This book is different. It is better than many expensive books that I purchased in the past. Buy it and read it fully before forming an opinion. You won’t be disappointed.
Buy it and learn a lot.
Top reviews from other countries
I have purchased dozens of books that cover the broad spectrum of Forex Trading, the various methods of trading, the history as well as an in-depth analysis of various market conditions and how best to succeed in the markets but none have been as simple and straightforward as this. Now for the inevitable contradiction in my words, it is masterful in its simplicity.
Paul Langer writes from the perspective of a trader who still remembers what it was like to face into what might seem to be an overwhelming learning curve for anyone wishing to start trading. There are hundreds of other books out there that go into great detail all the history of the Forex market, explaining each facet of Forex trading – from pip to Fibonacci and so forth. Forex trading is by no means easy yet after a point it can come to feel that once you have your own strategy and plan in place. What this book is is the author telling his story, how and why he first failed and most importantly how he turned it around and became a success. Paul Langer takes the reader’s hand on this journey, whether you have just started or are already underway, and he tells a story, offers advice like a wise old man might do to a younger man, and he guides the reader in finding their own path. I might sound like I am making the author out to be some Yoda like figure but he himself would argue against that and in this book he details his mistakes in the past, how he learned from them and how he turned this around to become successful. What this book is is advice from someone who learned the hard way and the author comes across as very genuine in his wishes to help others avoid falling into the pitfalls so common for new traders.
Initially I just purchased this book because I thought, “why not”, it was far cheaper than other forex books and at least I might gain the perspective of someone who is further along the road than me. I got that and so much more. Paul has a firm understanding of Swing Trading (and all other strategies but my focus was on swing trading) that has helped me re-align my trading strategy to incorporate swing trading that better suits my circumstances and with much better results. Upon reaching the end of his book he details a blog he regularly contributes to that I will be completely honest I never looked at until a few weeks later but boy oh boy is it a fountain of information and he provides free.
The author details for is need to succeed at Forex Trading. To succeed, we must have this plan, as the author puts it. I know that sounds obvious, far too simple but he details the step by step aspects of what a trader needs to consider before ever making a trade. Particularly if they want to create their own successful trading plan. He details how we must always carefully execute our plan whether we are winning or losing. Because the moment we stray from this plan, that's the moment we may also lose the battle. Paul uses Napoleon Bonaparte as an analogy to describe this and it is very fitting for anyone who knows their history.
The author stresses the need for a detailed plan – the stop loss, your position size, the strategy, your emotional state and much more, and all tailored with his guidance to suit your circumstances. Before ever trading Paul explains the reasons for and challenges the readers to create their own plan using the knowledge he outlines his own with so they, the reader, can succeed in a market that takes no prisoners. In particularly he seems to champion the Swing Trade Price Action method but I think it is more the case that he lays bare his own strategy to show us it can be done. I can’t fault the results I have seen from it, hence the 5 stars.
I cannot recommend this book enough to anyone who wishes to learn and grow as a trader. The author does not claim to be the final say on trading but his shared experience and knowledge is what all Forex traders have at one point wished they had. That is to say that at one point didn’t we all just wish that an experienced and successful trader would tell us how to do it. Well the author is such an experienced trader who is taking time out to help others by not claiming to be the man with the final answer but the teacher who will help you find your own that will suit your circumstances and will help you succeed through your own drive.
If you were to ask me to give criticisms for this book I can only fault it on 2 things. Firstly, there are a few typos and secondly, that the book is so condensed. The second criticism is more a case that I wanted more, to learn more, to pick his brain with a million questions that all novice/intermediate traders have for successful traders but here in this book the author has kept it simple, has laid out before us all a true gem of wisdom from an experienced trader – knowledge and wisdom that only an experienced trader could give.
To anyone reading this I say give it a shot. You won’t be disappointed.
Personally i believe this is slightly mis-sold, the strategies in this really don't go into detail if you are a new trader (which is stated in book). This book is more about, I believe, the mentallity of a trading mind and not how to make profits in 4 months.
However, does have good logic in this book but for the price that you are paying and length its really not worth it. I would be happy with a price around £5-6.. I have read books 5x longer and with far more detail and even cheaper.
Overall good book for maybe understanding profits, loses and trading psychology basics, but for strategies and details like it states, I would recommend much better books out there.
I get the impression that this is actually a sincere attempt to help others, and not to sell a book.
It's not the easiest read, I guess it could have been proof read and edited a bit better.. but if you understand forex or are reading other forex books you'll get it. I'm glad to have purchased and read this book.