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The Ed Ponsi Forex Playbook: Strategies and Trade Set-Ups Paperback – July 26, 2010

3.8 out of 5 stars 17 customer reviews

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Editorial Reviews

From the Back Cover

Praise for The Ed Ponsi Forex Playbook

"The Ed Ponsi Forex Playbook contains both the offensive and defensive plays that will keep traders profitable and safe. Those who pick up this fascinating read will not put it down until they have finished."
Steve H. Hanke, Professor of Applied Economics, The Johns Hopkins University

"Ed covers all of the bases in this book. It's powerful, practical, and profitable advice that you can use right now. From start to finish, the book is packed with information that can help any trader extract profits from the most exciting market in the world."
Rob Booker, independent trader, author of Adventures of a Currency Trader

"Ed Ponsi has scored again! This book doesn't just teach you how to win the trading game; it shows you how to win big. If you want to bank consistent profits in the forex market, read this book from cover to cover."
Mario Singh, CEO, FX1 Academy

"Exceptionally unique and useful to traders of all skill levels, this book is a wealth of actionable trading approaches from one of the giants in forex education and analysis."
James Chen, CTA, CMT, Chief Technical Strategist at FX Solutions, author of Essentials of Foreign Exchange Trading (Wiley)

An easy-to-understand visual guide to trading the foreign exchange market

Written by the author of the hugely successful Forex Patterns and Probabilities, The Ed Ponsi Forex Playbook offers a visual approach to learning successful trading strategies and identifying profitable trading opportunities in the Forex arena.

In Part I, "Training Camp," Ponsi provides basic but vital information to lay the groundwork for your success. In the next part, "Scoring Points," he delves into more advanced trading concepts. Part III, "Winning the Championship," deals with specific techniques that will give your trading an edge. Part IV, "Commitment to Excellence," presents more advanced money-making trading concepts, and in the final section, "Staying in Shape," you will learn which situations to avoid in order to enjoy a long and successful trading career.

The foreign exchange market is the most actively traded market in the world, and Ed Ponsi is world-renowned as one of the foremost educators in this field.

About the Author

Ed Ponsi is the President of FXEducator.com. As an experienced professional trader, he has advised hedge funds, institutional traders, and individuals of all levels of skill and experience. Ponsi has made numerous television appearances on CNBC, Bloomberg, CNN, the BBC, Fox Business News, and ForexTV, and has been profiled in magazines such as Technical Analysis of Stocks and Commodities and Traders Journal. His dynamic and humorous style sets him apart from the "suit and tie crowd." Ponsi is also the author of Forex Patterns and Probabilities (Wiley), a top-selling book on currency trading, and has a popular DVD series, FXEducator: Forex Trading with Ed Ponsi.
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Product Details

  • Paperback: 240 pages
  • Publisher: Wiley; 1 edition (July 26, 2010)
  • Language: English
  • ISBN-10: 0470509988
  • ISBN-13: 978-0470509982
  • Product Dimensions: 7 x 0.7 x 10 inches
  • Shipping Weight: 14.9 ounces (View shipping rates and policies)
  • Average Customer Review: 3.8 out of 5 stars  See all reviews (17 customer reviews)
  • Amazon Best Sellers Rank: #1,292,482 in Books (See Top 100 in Books)

Customer Reviews

Top Customer Reviews

Format: Paperback
I'm an Ed Ponsi fan. However, I think he may have inadvertently misled people with his choice of title and cover art. In particular, the subtitle -- Strategies and Trade Set-Ups -- along with the sports diagrams on the cover, imply that he's going to get down with some powerful set-ups and management techniques. The trade set-ups consist of trading off 10 and 20 day moving averages, and the management techniques consist of the option of adding to a winning trade when it retraces. Duh.

Furthermore, there is quite a lot of rank beginner stuff, for example, an explanation of currency pairs, pip value, lot size, etc. I don't have much patience with that sort of thing. There is plenty of introductory Forex material readily available, and I don't see why so many authors seem to feel the need to pad their books with what their readers already know. It's like buying a book on computer programming that contains detailed instructions on how to turn on the computer or what a hard drive is.

Oddly enough, in a book that explains pip value, there is a chapter on trading other people's money. I think he tried to be all things to all people, from those who started trading a demo last week to the guy who wants to start a hedge fund. I don't think it comes off very well, especially in a 200 page book.

The meat of the book -- the strategy -- consists of various sources of information that can give you a head's up on currency strength. We're talking the COT Report and such things, some which are not so widely known by intermediate level traders. It's good information to have. It wasn't what I was expecting, though. And of course, it's still a crap-shoot. Was the crowd right, or was the crowd wrong?
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Format: Paperback
You will NOT find ANY forex strategy that you can backtest, all the trade "setups" described in the book consist of extremely subjective (and sometimes dangerous) fundamental ideas.

For example the author claims he uses the COT report to go long or short when he sees a huge imbalance between the the large speculators and the small speculators. Then he fades the net position of the large (non-commercial) speculators and bets on the net position of the small speculators. To "prove" his point he shows you plenty of (cherry-picked) charts where the market went in the direction of the net position of the small speculators.

Sure, sure, but what this genius is not telling you is that the market could move 1000 or 2000 pips AGAINST your position BEFORE actually going in the expected direction (if at all!), because it is impossible to know in advance how far this "imbalance" could go (2 to 1, 3 to 1, 4 to 1, 5 to 1, 6 to 1, etc...)!!

It is like the RSI, this technical indicator can stay in the overbought or oversold zone long enough to empty your trading account, BEFORE the price actually reverses its direction.

This trading idea alone could bankrupt you faster than you can say "margin call"!

Here is another trade "setup" from another chapter, he says that it "pays" to listen to reports from the Federal Reserve Bank and other central banks in the world, looking for "clues" and "hints". Wow, is that a fantastic trade setup or what! Gosh, why didn't I think of that?

The whole book is like that, there is not a single trading idea with specific entry/exit points.
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By RMFly on July 24, 2010
Format: Paperback Verified Purchase
The book was full of information. But like the other reviewer said, it was information most average trader already knows. I know that Ed means well and he must of put a lot of effort to write his book, which is not that bad, but I just wish someone would write a book on how they became successful at forex trading in todays market without having a Phd or being a guru. The closest I've got so far was a book by J.J. Glenellis "Survive and Prosper in the Great Depression of 2009-2012". It's not perfect, but it's the best for the average trader. I'm starting to get the feeling that every forex (and stock) book was written by a person that could not make a lot of money trading so they wrote a book. Where is the guy or girl that makes $1,000,000.00 every year? Show us how you do it and write a book.
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Format: Paperback Verified Purchase
Early in 2005, I signed up for an online, beginning forex course. One of the instructors was Ed Ponsi. I saved all of the forum posts from that course. Of the four assigned instructors, Ed's responses were the clearest and most useful. Here is a brief example:
"Traders will typically start their analysis with a long-term chart such as a daily or weekly chart. This is done to determine the major trend or theme in the market. The Daily chart is like a roadmap, it sends you in the right direction. The shorter-term chart is like a signpost, it tells you exactly where to enter."

When the course was over, I was still unsure about how I should organize and use all of that knowledge. I wrote to Ed, who kindly recommended a book. Although it may have been the most useful at the time, it included so much fluff that I found it difficult to extract much actionable information.

Finally, in 2007 Ed published his first book, "Forex Patterns and Probabilities", probably due to his own frustration with recommending anything. It was the book I needed immediately after the basic course. It was precise in describing several proven strategies to becoming a successful trader. After that, I was very interested to read this second offering, "The Ed Ponsi Forex Playbook" to see how his trading philosophy had evolved.

Although this new book focuses on just one of the strategies described in his earlier book, it was interesting to see how it had been expanded, and how Ed had evolved to focusing on very long term trading, combining market and economic fundamentals with technical indicators.

For a trader like me who has been severely hammered by short term strategies, this was a welcome confirmation that the direction my trading has taken me has brought me back to Ed Ponsi and to mainly long term looks.
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