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4.3 out of 5 stars95
4.3 out of 5 stars
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5 of 5 people found the following review helpful
on 22 November 2013
There are a lot of good things in this book. The author covers the details in regards to the practicalities of running a strategy. There are some good bits of advice such as “you should always think first about what can go wrong about a trade and not get emotional“. Tehre is also some practical tips on working out stop loss levels and how to walk the stop loss through the trades lifetime. There is a little bit of fudging assumed by the book in regards to when to ignore certain patterns but the author is right to do this if there is an assumption the reader is not a novice. The other thing that I liked a lot is talking about timing and trade entry. To its important to let bars close before they are used and to look for strong confirmation bars before risk is taken.

There are some statements made early in the book in regards to the types of trades that should be taken which I would question. The authors advice is to trade 4 hour bars and to look for trades with 1:2 risk reward ratio. This is only their personal preference and it should be pointed out there is nothing wrong with trading lower or higher time frames or taking different risk reward ratios. Some of the justifications around why a person should trade on a longer time frame I would also call into question. If you truly scalp then you’re less susceptible to event/data release risk as you do not have to hold risk over economic numbers. The other thing I will point out is a single bar can be the difference between a really good trade and missing the boat. What if that bar happens at 4 in the morning when japan comes in and you’re not awake to trade? Then next entry could not be for a week.

The book has good ideas and good advice. It is for the reader to separate personal preference from the more general good advice.
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2 of 2 people found the following review helpful
on 8 October 2013
Bought this having not even looked at a chart for over a year. Have learnt a lot of basics previously from a full time trader but want to reinforce my knowledge to make sure I fully understand price action before I start trading again. Previously was using various strategies with too many indicators - just want to understand price action and make decisions more or less on that alone. This book was great for what I wanted and I will definitely be buying the others. Spelling and grammar errors normally annoy me, but this isn't a novel, it's about getting relevant information across. There are not that many anyway and it didn't stop me understanding anything. Yes, on a Kindle the diagrams are a bit small and you don't have the colour, but at the end of the book it says you can send for the PDF anyway to print out so I don't see it as an issue. Would recommend for beginners and as a back-to-basics refresher for the more advanced.
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3 of 3 people found the following review helpful
on 14 August 2013
very solid trading method deals with longer timeframes which is something i have been looking into so i have found this book very informative
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2 of 2 people found the following review helpful
on 31 May 2013
I know this information is on web sites, but I like a quick read with all the information in one place.
(basically because I find with all the web sites out there I just end up being confused).
This book explains a simple to use strategy which will make you money it
will be part of my trading approach.
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2 of 2 people found the following review helpful
on 9 December 2013
A very good simple strat with all the info you need to execute it. Also good advice on money management and risk reward ratios. No pages of sales waffle and filler here, only what you need to know and how to do it.

Very good!
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6 of 7 people found the following review helpful
on 27 February 2013
This is a very simple strategy that works. You do, however need to be patient which is KEY in Forex. However, once you learn the system, then you will be rewarded.
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on 9 December 2013
There is nothing particularly exciting in here or any of Laurentiu Damir's books, no claims of a holy grail or short cut, and no indicators with complex names (or in fact any indicators except MAs) or promises of riches, so anyone looking for that mirage should go somewhere else - there is in each book a simple self-contained system that can be practiced immediately.

Each system uses the same building blocks - specifically, ways to spot shifts in the distributions of buyers/sellers using candles; places at which to look for action (hor and diag S/R and Fib levels); and how you can determine momentum (using the price action on two or more time frames and the Moving Averages) so as to only trade in this direction and therefore maximise the chances of a profitable trade.

They are all excellent, and even though my trading system is already remarkably similar to these, I learned some new things and have many new suggestions to think about. Highly recommended.
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on 23 June 2014
I have spent a good number of years trading, and I have read many, many books. Laurentiu's book has some sound, common sense information, which if applied carefully and methodically should work for you. I saw one review stating this would lose you money in anything but a trending market - well I'm not sure I agree, because part of the method is checking if there is a trend, and if there isn't, you wouldn't get the trade setup, so theoretically it would keep you out of a ranging market. There is no strategy or method which will suit every trader, and there is no one single 'right' strategy - there are lots of strategies which all work in their own way - this is one of them. If you are a newcomer to Forex trading, this will not give you all the information you need, but it does not claim to do that. If you read something in here which you don't yet understand (like moving average, support & resistance, etc), just Google it and learn it. Good luck with your trading.
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on 22 July 2015
An excellent, straightforward and very usable guide which is actually full of practical ideas rather than waffle which I have found to be the case in some other trading guides. I have only just begun to put it into practice but it has already made a difference to my success rate and given me a lot more confidence when opening and closing a trade. I am now going to work through Laurentiu's other books in the series and look forward to further improvements in my strategy.
As a language teacher I can of course recognise that it's written by a non-native speaker but don't find that this impedes communication in any way. In fact quite the contrary - I actually think it adds to the genuineness of the message.
Thank you VERY MUCH INDEED Laurentiu Damir for this much-needed guide.I'm very much looking forward to reading your other books.
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on 23 November 2014
Although I havn't tested the strategy, it does seem very credible and well thought out. I will be applying it in the coming weeks and will repost a review with my findings. I would have liked the author to have given his percentage success rate but maybe he sees no reason to keep records!
Nicely set out and explained. I was dubious in the early chapters when he dismissed all indicators other than the 200 period EMA but I understand his reasons. I do think applying his system can be simplified by using the 14 period RSI to highlight the significant chart trend lines (support and resistance lines) but again this remains to be seen. Well done Mr. Damir.
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