The FX Bootcamp Guide to Strategic and Tactical Forex Trading

This book is direct and effective as the title would imply. Check everything you think you know about trading at the door, leave the emotion and fancy indicators too. This book will inform you as to how and why money flows from one economy to another and from one asset class to another. These things affect the relative value of currencies from economies around the world. Once you understand this and use a few simple charting tools described in this book you can forecast highly probable changes in the value of world currencies relative to one another. This is what Forex is and that is where the $$$ are to made.I would gladly purchase an updated reprint of this book only for more modern type face and cleaner graphics, I would expect very little change in content. The content is that solid and the book is worth every penny in its current format.

There are many books on trading Forex, but only one that provides a roadmap for success. What separates the Bootcamp Guide from other books is how it summarizes and then unifies the many constituent elements of successfully trading Forex, and how clearly it is written.This book shows how technical analysis, macroeconomics, strategic analysis and psychology need to be pooled together to create a winning trade. For instance, the author notes that the bank of New Zealand intervened to weaken the NZ Dollar. According to the book, a trader would 1) recognize this as an important macroeconomic development 2) that determines one's trading "bias" on any NZD pair. Then, 3) considering the time of day and 4) the market's speed and the price's momentum, 5) what do recent price action, pivot points and Fibonacci analysis say about 6) support and resistance "zones" that are likely to provide quality entry and exit points. Then 7) identify places where other traders are likely to take counter positions and 8) properly control and conduct him or herself throughout the process from research to analysis to entry and finally, exit. Sound useful?I've never read a book that breaks down how to trade in the Forex market with that level of specificity.This book is clearly written. McDonell uses a traditional three part structure in every chapter and every subsection to tell the reader what he's going to say, says it, and then summarizes without being tedious. McDonell keeps the analysis focused by introducing increasingly complex information on the topic as the chapter progresses thereby avoiding the repetition trap. Similarly, the book is neatly divided into 4 parts: 1. what to use (technicals), 2. In what context (macroeconomic considerations), 3. How to do it (analysis), and 4. How to thrive doing it (psychology).He treats each part with characteristic economy and precision. For example, he clearly explains the difference between market speed and price momentum, then he shows how to identify them using moving averages. Wouldn't you like to know how the market is moving and where price is going?This book was not written by an MIT professor who has never traded, or by a writer who merely read the literature and summarized it. It was written by a professional trader who dukes it out in the markets every trading day.Some of the other reviews appear confused about the nature and purpose of this book. It is not for newbies, nor is it meant to be the definitive work on a narrow subject (like Bulkowski's excellent Encyclopedia of Chart Patterns). Though some reviewers were incredulous, with a title like "The FX Bootcamp Guide to Strategic and Tactical Forex Trading" it should not come as a big surprise that this book is related to FX Bootcamp: it says so on the cover. This book is meant for real, conservative and repeatable trading, exactly like the website: FXBootcamp. com.

So there I was, I knew I wanted to do battle with FOREX! Now I am not the smartest guy around so I knew I would have to get some training if I was going to keep from coming home in a body bag. So I looked around at some options, read a few books and felt like I had gained some knowledge but something was missing.That's when I found the "The FX Bootcamp Guide to Strategic and Tactical Forex Trading". Now I have to admit, at first I thought, who would use a parody on military boot camp as a tag to sell a book on forex trading. So I looked up Fx Boot camp on the web and saw a few videos on youtube that were lighthearted and full of enthusiastic and helpful tips. At first I thought this is another crazy pitch man trying to hawk a book, but I kept coming back to the website and watching the videos over and over and asking my self have any of the other authors, that I have read, put themselves out there like this. Are any others authors out there sharing their work and expertise outside of just you, dear reader, buying their book?And so, after reading Mr. McDonnell's book, I can honestly say that I have come away with an education in forex trading, put forth in a lighthearted and entertaining way. At first I could not see the forest, only the trees. After reading the book and setting up the chart indicators as specified, I began to see the conservative low risk and repeatable trades happening over and over.I found that the explanations of why support and resistance actually form, how to spot reversal patterns, how to use Fibonacci retracements and extensions, the use of Pivot Points and the theory behind them invaluable and profitable. The book takes a no holes barred approach to the meat of the matter, which I believe is the how, when and why of the markets movement. Lets face it, anyone can open an account and take a shot at the market, but can they do so and come back to tell the tail? The book has taught me the patience and discipline, above all else, to set a trap for price and wait for it to enter into my ambush and it's subsequent doom. The book focuses more on risk mitigation than getting rich buy teaching the trader to develop a plan and the skills necessary to carry out conservative and repeatable trades.So if you are serious about doing battle with FOREX and you want to learn how to survive on your own without someone holding your hand, I would highly recommend "The guide to Strategic and Tactical Forex Trading"Cheers!!!

Thanks Wayne, easy to use trade lay outs

This book contains what needed for beginner, and the methodology can be useful forever.

Very good ..

There is some useful information in this book which covers fundamental and technical analysis of the FX markets, however it is let down by bad structure and errors. I get the impression that this book has been thrown together in a couple of hours with little or no proof reading.The structure is disjointed, for example part one covers technical analysis, part two covers fundamentals (carry trades, the fed etc), part three covers technical then fundamental then technical analysis again. I would expect the book to be structured along the lines of: how the market works, fundamental and technical background, trading strategies. Most other books seem to follow this structure.Unfortunately the book is littered with errors, mostly relating to the accompanying charts and diagrams. For example in chapter 8 the author cites three charts: figure 8.1 (a fast moving market), figure 8.2 (a slow moving market) and figure 8.3 (a market that is slowing) - All three charts are identical!In summary there are much better books on the market, and sites like babypips.com cover the same material for free.

I liked this book and the advice offered but the diagrams are absolutely shocking, you can't see what is going on to actually learn from the points being put over.For me it seemed like a lot of indicators on one chart so I was surprised as I didn't really expect that from a pro trader, it's usually all about support and resistance etc not bollinger bands so interesting to see someone using standard indicators in their teaching.Overall I enjoyed the book and what was offered with a great overview on both technical and fundamental analysis.