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This is another fantastic trading book by this author. I think I’ve read all that he currently has now! I love his conversational style. It feels like he is sitting across from you explaining the ins-and-outs of the markets. This particular book is intended for those who already have some experience with forex trading and want to up their game. Interestingly, in the introduction, he states that you could be winning or losing at this point and benefit from this book; you just need to have traded for a while and understand the basics at a practical level to benefit from the book. In the first chapter, he summarizes what he said in his basic forex trading book; I do love a good summary, but I highly recommend getting his basic book whether or not you think you need it based on your own level trading practice as you’ll find plenty of wisdom nuggets that you don't want to miss. In this book, the author looks at some techniques that would seem counterintuitive if you follow traditional methods and techniques. He specifically looks at ranges, trends, advanced support and resistance, and other advanced strategies like positive carry and using options. He also has even included “advanced” sections on risk management and mindset, which I could certainly see would be helpful in staying successful and continuing to learn while keeping your center. Highly recommended.
I received a free copy of this book, but that did not affect my review.
This book would be advanced for someone very new to trading. It would be a great second or third trading book to read. If you’ve been trading and learning for anything close to or over a year you can probably skip this one. Although it would makes for a great refresher. the first 50% of this book is very much the basics. How to identify trends, support and resistance, when to enter trades, stop losses etc. the second half of the book does a better job of explaining advanced support and resistance and identifying levels that are actually relevant, good entries and aligning your daily bias in the markets on multiple timeframes (something that is easy to forget to do). He gets into more technicals, goes over his own strategy (which is almost identical to mine lol), gets into fundamentals a little bit and journaling and recording your trades. And then ends it off with the last few chapters about trading psychology. All in all it is a good read and would be great for anyone looking for that second or third book
If your just getting into Forex then this book and the previous basic book is all you actually need. Having traded on and off for years you get caught up in opion she said he said. There is a line in the last chapter "Brute force repetition is how the brain learns, there’s just no other way". This is the single most important thing to practice that most traders ignore. Find a strategy that is profitable then use a simulator then demo and practice, practice, practice and practice. Get your mind right. Excellent book with lots of real info and advice.