Forex Trading Money Management System: Crush the Forex Market with Bigger Profits and Smaller Losses! [Print Replica] Kindle Edition

The most successful traders have always taught that the key to successful trading is money management. Well, here is a very simple but powerful money management technique that works in today's currency markets. The book itself is really about that money management technique, but does not point out any specific entry/exit system to be used.Although Don does not give a trading system example to use with this MM system, he does point out that it works best for any system that gives runs of multiple profits (and losses), which are quite common in the currency markets. For example, a trend following system will give several losses in a row during a consolidating market, but then give multiple profitable trades when the market begins trending again. For a range trading system, the opposite is true as well. Think about that for a moment, and you might just have a revelation.The method itself allows for a large return with small risk to the trader's original equity through a very basic, but powerful, system that "pyramids" on profits from the previous trades. Although Don mentions his trading robots, he does not appear to hype them in order to make a sale, and the ea's he sells are mostly simple trend following sytems which are very consistent and profitable. However, as I will explain below, you don't need to purchase his robots in order to trade using his money management system.As a person, I have found Don to be very honest and extremely generous. He is open to questions and is normally quick to answer any emails I have sent him, as well as transparent about his trading results. You can check out his live trading results on the MyFXBook website under the user name of RouletteTrader to see how his most popular robots are performing.Some of the negative reviewers have questioned the system's effectiveness and the trading robots' durability for the long haul. In my 20 years of currency and futures trading, I question whether any system is profitable forever. Even the turtles aren't doing so well these days, and most of the best robots from 5 years ago aren't even on the market anymore. However, as long as any system continues to make "runs" of profitable trades, I believe this technique will continue to be insanely profitable.To test this method before live trading, I ran a simple 2 month test in live market conditions. The market went sideways a couple weeks resulting in two stop outs and then moved. In the end, I had a 36% increase after only risking 2% (and 4% drawdown), more than triple the amount I would have made if I had been trading the conventional "only risk 2%" model.MY ADVICE:1. Buy this little book; it's practically free anyway. If you're not sure about spending the few bucks on this, you definitely don't have the stomach to trade the currency markets.2. Run through the numbers and test it out manually on a demo account.3. Check out the performance of Don's robots on his myfxbook account (search "RouletteTrader").4. If you feel comfortable with it, apply the system to your own live trading method or purchase one of Don's robots.5. If you don't feel comfortable with it, you're out nothing but the price of a latte and a little reading time.

I am fairly new to Forex trading, but I am a firm believer in the intrinsic value of automated algorithmic trading, where computer logic takes over the human mind's task of implementing the purely mechanical and repeatable aspects of entering, managing and exiting currency trades, after its validity and reliability has been rigorously back-tested. This book excels in introducing a Forex money management methodology that is doubly valuable - first as a standalone primer that can be used for discretionary trading, or even taken to a real casino for vastly improving your winning odds at the roulette table. Secondly, it introduces you to the concept of using so-called trading robots that will greatly facilitate your trade management efforts and undoubtedly improve your profitability. It is a clear and concise exposition of the rules of profitable consecutive and cumulative trading that has the added benefit of compounding your earnings over time, thus vastly improving your profitability on a sustained, longer term basis. The author's personal attention to tech support and customer service is a big plus. Best of all, the results are objectively verifiable and the author stands by his products to the fully extent possible. I highly recommend this book and its accompanying products.........,

Excellent book, and even better when you factor in the modest cost. He highlights ways to maximise the returns on an account without really increasing your risk, at least not in the short to medium term. I'm not sure the methods would make a big difference in the long run, as it has been proven mathematically that you cannot overcome a betting method that has a negative expectation. And even if you have a positive expectation, betting too much will actually eliminate that advantage. Nonetheless, Don's ideas are definitely worth looking into, and an excellent way for people with small accounts to have a chance to get those accounts up to something substantial much quicker, without taking undue risk.

At the time of this writing, Don Guy has 80+ reviews averaging 4.5+ stars. Hmmm...either these readers know nothing about probability theory and statistics and have had the wool pulled over their naïve eyes or there is something to the system. I am going with the latter because I do have some background in stat and, despite some fuzzy areas I'm still not clear on, I think there is something to it. I've been trading forex many years, I am currenly profitable, and I still buy a lot of stuff, i.e., books, ea's, indi's, etc. I bought everything Don had for sale for about $150. Frankly, that's not a lot of money for me and, if it is for you, I suggest you wait until you are more capitally comfortable to get into forex. I didn't start out winning and my initial losses, including stuff I bought, ran to just under six figures.So, it would be premature to say these five stars I am giving are based on profitability. They are not. I have a lot of my own analysis, testing, and observing before going live. Five stars for clarity of presentation, thorough explanations of installation and use, immediate response to communication, and more than adequate programming skills that result in the ea's I bought all being operational within an hour.