Beat the Forex Dealer is a book about a fight, a fight between the Trader (you) and the Forex Dealer. The Forex Dealer has always an edge over the opponent but this book will help you understand what this edge is and how to defend yourself. Through this reading you will also be able to learn how to turn some situations to your advantage, limiting losses or creating profits. The volume is ideal for a trader with good basics who wants a different point of view of the Forex Market.
Title: Beat The Forex Dealer
Published: November 2008
Author: Agustin Silvani
- All Traders with a good understanding of Forex Terminology and Trading Mechanism
- Risk Management
- Price Action
- Dealers practices
Beat the Forex Dealer is an original book in the Forex scene, it opens your eyes on aspects that usually are ignored, giving you an important different point of view. After the first few chapters you will probably think that Trading Forex is not a good idea and that is impossible to make any profit in the long run. However progressing in the reading you will understand that there are ways to beat the Forex dealers and make money trading currencies.
The volume starts with an introduction to Foreign Exchange, explaining who are the players and showing statistics about the market. In the following chapters the Author explains some of the dodgiest practices that dealers use to take advantage over the trader (never heard Stop Hunting? well, that and others) and also gives advices on how to choose your broker. The book continues describing some of the skills required to join the 5% of successful traders, Risk Management first.
The second half of the book is dedicated to the practical approach and strategies to use in order to win against the dealer or at least to limit the damage. The book, between the others, includes analysis and strategies to use with thin markets, crosses, stops, trends. It shows methods to trade, and not trade, important events and other ways to turn situations to your advantage.
At the end of the volume there is also an Appendix that integrates the strategies already presented with more instructions about hot to setup, enter and exit a trade.
Although the book was published in 2008 and some of the information may be obsolete, the content is very original and hard to find in other books.
Beginners interested in this volume must have a good understanding at least of the terminology and trading mechanism.
Beat the Forex Dealer is very well written, with a clear language very easy to understand. The engagement and interest of the reader are kept always high with the help of short chapters and engaging style used.
Beat the Forex Dealer is without any doubt an original Forex Book, it offers to the reader a different point of view. The knowledge acquired with the reading will allow you to understand some of the behaviours happening in the Forex Market, so that the you can be better prepared for the battle.
Beat the Forex Dealer is an eye-opening book. The authentic content allows the reader to understand and take precautions against some of the unfair practices and tricks used by Forex Dealers to take advantage of the retail traders. The reader is taught how to defend and how to exploit some situations including, stop hunting, thin markets, crosses, important events and their market reactions. The book is highly recommended to traders with already good Forex basics and interested in acquiring a different perspective.
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