Survive And Prosper In The Great Depression Of 2009-2012: A Step-By-Step Guide To Amassing A Fortune Trading Foreign Currencies
Like any other market, foreign-currency trading requires a plan, writes Glenellis in this yeoman's guide, which is by turns breathless, admonitory, encouraging, cautionary and, ultimately, nearly impossible to turn away from. The author starts with $1,000.00--not a drop in the bucket, but also unlikely to sink the family ship if one gets torpedoed. He does caution, "There is considerable exposure  to risk in any foreign exchange transaction." Glenellis seeks to minimize that risk and help readers through the minefield that easily cripples ill-prepared neophytes. He tenders no promises--writing  "NOBODY WINS EVERY SINGLE TRADE! NOBODY!"--though his plan's accessible, practical  approach at least makes sense of the process. First he measures readers' psychological fortitude, as that  defines their immediate parameters in terms of willingness to take risks. Glenellis then takes readers through some nuts-and-bolts material--the concepts of stop-loss, limit orders and trailing stops and how to adjust them to your comfort level, and understanding the importance of patience, discipline and a plan. The author then moves on to more in-depth--yet digestible--forays into various foreign-currency trading forms, such as news trading,  technical indicators of predictive devices, determining entry signals in anniversary trades, tactics for jumping on breakouts, trading platforms and why you should work with an established, large-scale trader (since small traders, he writes, leave you vulnerable to a panoply of disheartening gambits). Glenellis' trading plan makes considerable order out of chaos and is low-stress and comprehensive without being overwhelming.  Particularly enlightening was the detailed account of a month in the life of a trader as he conducts business; Glenellis demonstrates how he achieved results and interprets why readers' experiences may differ. A manageable, decidedly enticing introduction to currency trading --Kirkus Discoveries, June 2009