Summary
The title of the book is quite misleading because none of the strategies mentioned in the book are “proved” to be consistently profitable at all. I am actually quite disappointed with the book. Do not recommend it.
Book Information
17 Proven Currency Trading Strategies, + Website: How to Profit in the Forex Market (Wiley Trading)
Written by Mario Signh
Rating
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| Readable | |
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Average
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Review
First part of the book is just regular pieced together introduction to forex trading. It is not particularly bad or good. Just that you would expect more from someone who is made famous on CNBC as an expert in forex trading.
Second part of the book indeed included 17 strategies with very clean rules for entry and exit. The strategies are not proven as claimed by the book as there is no backtesting results in the book to prove that these strategies are valid. What I see are a bunch of trading entries made up on-the-fly to fill the pages demanded by the publisher. The exits are, in a polite way, fear driven that violate every rules I know about proper money management.
Examples in the chart are hand picked to show how profitable the strategies can be. So no brownie points there for the author.
My take is that some of the strategies in the book are simply copycats from well known sources. Yet, they are not paired with the correct exits. Hence they cannot be profitable over the long run.
I suspect the author has mistaken the word “proven” with “well known” or “popular” in naming the book. Since he has not attached the word “profitable” in the title, I guess it is not that misleading after all.
Maybe it is just me, but I do not see how this book would do any good to its readers.
Not recommended.
