Bests & Worsts Reviews from Amazon

The only way to know whether a trading strategy is viable is to test it over a very large number of trades in a large timeframe. No matter which strategy you use, the more trades (round turns), you complete, the more accurate the results will be. There is no accuracy whatever to a small number of trades - small number meaning 50 or a couple hundred. It is very commonplace to see wildly different results between 10 trades, or 50 or 100. Or even between 100 or 400. The same strategy implemented over a 2 month period could show you a net loss of $5000 while over a 4 month period could show you a net gain of $5000. In fact you will never have a good idea of the validity of your strategy unless you do at least several hundred trades in a year timespan. Fortunately, modern technology makes it easy to backtest your strategy. When you do this, you will find that no matter how "appealing" or "convincing" a simple system seems, it does not work over the long term. No exceptions. Take this to heart as you read books purporting to offer a way to make "$100/day" trading forex or futures or whatever. That said, you can tell where I'm going with this review. You have to be wary of books that show you examples that fit the theory, without showing you how to handle the 50% of the time when it's contrary to the theory. The only worthwhile things in this book are the few vague, general cliches like "Cut your losses short" and "don't take trading tips from other people." Unfortunately, no matter how good a cliche sounds, it means nothing in terms of real money. Here's one of my favorite quotes: "Easy to follow and extremely profitable trading strategy to get you started in trading." Wow, why would that work only as a "getting started strategy?" Gee if something like that existed, it would be my go-to strategy all the time. There wouldn't be any reason to learn anything else. I hope this lengthy review will prove useful to readers who might otherwise be duped into putting their hard earned money into an endeavor that can be very tricky for many reasons, not just the technical aspect. If you're adamant about learning how to trade, you would do a lot better with a book like Forex Price Action Scalping by Volman. At least there you'll learn some legitimate things about price behavior. I'm sure the author's intentions are good, but one cannot teach someone to trade with vague, general statements. You need an itemized trading strategy, you need to show examples of how to handle losses, and there needs to be a plan for making up the inevitable strings of losses that occur over time. You need to show the plan in action. Since this book covers none of these, I cannot give it more than 1 star.