Product Description

A straightforward guide to trading today′s dynamic Forex market

Written by Wayne McDonell, the Chief Currency Coach at FX Bootcamp, this book shows readers how to successfully trade the Forex market on their own. FX Bootcamp′s Guide to Strategic and Tactical Forex Trading skillfully explains how to combine popular technical indicators to formulate a comprehensive market strategy. Readers will then learn how to focus on using this information to create a tactical trading plan––one that will help them pull the trigger to get in and out of a trade. Along the way, McDonell takes the time to discuss the various challenges a Forex trader faces, such as greed, fear, loss, and isolation. As a Forex trader and educator of traders, Wayne McDonell knows what it takes to make it in the competitive world of Forex. And with FX Bootcamp′s Guide to Strategic and Tactical Forex Trading he shows readers how.

Product Details

• Amazon Sales Rank: #92079 in Books
• Published on: 2008-10-10
• Original language: English
• Number of items: 1
• Binding: Hardcover
• 235 pages

From the Inside Flap
In The Art of War, renowned military strategist Sun Tzu states, "The general who wins the battle makes many calculations in his temple before the battle is fought. The general who loses makes but few calculations beforehand." While this observation comes from one of the oldest military treatises in the world, it′s an important piece of advice for traders looking to win in today′s dynamic Forex market.

As the Chief Currency Coach at FX Bootcamp, author Wayne McDonell helps clients around the world excel in the Forex field by training them to develop and execute a trading plan with military precision. Why does this approach work so well? The answer is simpleâ trading Forex is similar to war in that they are both zero–sum games, and in Forex trading, this means that one trader′s gain can only come from another′s equivalent loss. So, outthinking your opponent is essential to victory in both of these arenas.

Divided into five comprehensive parts, The FX Bootcamp′s Guide to Strategic and Tactical Forex Trading puts this competitive market in perspective and shows you how to achieve success within it. This reliable resource opens with a detailed look at the technical indicators you′ll need to use in your trading endeavors. From here, you′ll discover how to combine these popular indicators to formulate a comprehensive strategy and learn how to use this information to create a tactical trading planâ one that will help you pull the trigger to get in and out of trades.

Besides introducing you to a proven Forex trading methodology and showing you how to improve performance by running your trading operations like a business, this book also addresses some the most important psychological aspects of tradingâ including greed, fear, loss, and isolationâ and discusses what you must do to overcome such obstacles.

In Forex trading, patience and discipline are just as important as technical and fundamental analysis. With The FX Bootcamp′s Guide to Strategic and Tactical Forex Trading, you′ll discover how developing positive trading habits and the right trading skills will put you in a better position to profit over the long haul.

From the Back Cover
Praise for The FX Bootcamp′s GUIDE TO Strategic and Tactical Forex Trading

"Wayne McDonell is the most popular Forex speaker on our Web site. His live training and educational events draw large crowds of traders because he can explain complex Forex trading concepts in a common language that anyone can understand. This book does the same. I highly recommend it."
—Francesc Riverola, CEO of FXstreet.com

"If you′re looking for specific strategies and methods for making money with currency trading, you need to start reading this book today. Wayne knows from experience what it takes to succeed in the Forex markets. He provides step–by–step instructions and explains in common language what to look for in charts and in the news to find profitable trades immediately. Don′t make a single Forex trade until you′ve read this book!"
—Tim Bourquin, founder of The Forex Trading Expo

With The FX Bootcamp′s Guide to Strategic and Tactical Forex Trading, McDonell shares his invaluable experience as a Forex trader and commodities trading advisor with you. Filled with in–depth insights and practical advice, this straightforward guide will teach you how to think for yourself and trade successfully—relying on your own technical, fundamental, and even psychological analysis. First, you′ll become familiar with the indicators—from moving averages to price support and resistance—that form the foundation of the trading methodologies discussed in the book. Then, you′ll discover how to put together a trading plan, and trade that plan for maximum profits. Along the way, McDonell also takes the time to discuss the various challenges you may face while trading Forex and explains how treating your trading operations like a business can improve overall performance.

If you want to be a successful Forex trader, you must have a firm understanding of how the global market works and how to trade it. With The FX Bootcamp′s Guide to Strategic and Tactical Forex Trading, you′ll quickly learn how to gather intelligence, formulate a strategy, and confidently pull the trading trigger.

About the Author
WAYNE McDONELL is the Chief Currency Coach of FX Bootcamp (www.fxbootcamp.com), a live Forex training organization. He is a professional Forex trader, a member of the National Futures Association, and a registered Commodities Trading Advisor. Respected in the Forex industry as a successful trainer, McDonell is a regular speaker at major investing conferences and expos in Asia, Europe, and America. His videos are syndicated around the world on outlets including Forex Television, FXstreet.com, MoneyShow.com, and MSN. His live trading Webinars have attracted up to 1,000 traders each. McDonell has written "how–to" articles for investing magazines, such as Your Trading Edge and the FOREX Journal magazine. He has also received notoriety in the National Post, TechWeek, Interactive Week, and Inc. magazine to name a few.

Customer Reviews

Great book - poor diagrams
I liked the book very much and it is up-to-date. The author writes well and offers many tips. The only criticism is that the chart diagrams are poor. So many moving average lines that are not labelled or even explained. Little thought was made to how they would appear in black and white format. Wayne - point your editor to Tufte's 'Visual Explanations' for some inspiration!

Straight to the point education on being a professional trader
If you are serious about being a successful trader you really ought to consider the small price of this book. Way smaller than any one single stupid trade you will do at some point in your trading career... and this book will help steer you away from that stupid trade.

This book will teach you in a clear and concise way how to become a professional trader. How?

This book is excellent at explaining some key aspects of Technical and Fundamental Analysis. But no - that's not the reason why you should buy this book. I mean there are plenty of other resources where you can learn this type of analysis... and being excellent at fundamental and technical analysis does not mean you will be a successful trader.

There are some excellent explanations of how the Gold, Oil, bond and equity markets are all linked to the largest market of all.... Currencies.

There are some plain simple answers as to why a price goes up up up and then stops dead at a particular level. Why the market falls just after you buy only to shoots up again just after you decide to take the loss.

But what really stands out for me, in this book, is that it taught me how to run my trading account as a business. Understanding how much I should be trading at any given time. How to control my emotions by planning my trade well in advance and only executing if the market does what I planned it might do. If it doesn't then I do not trade. ...and this book also taught me how to examine my trades and find faults. Makes you think twice about putting on a trade if you know you are going to have to justify your actions in writing.

The writer, Mr Wayne McDonell, explains what technical indicators he uses and why, what fundamental analysis he does and why. But what really makes him stand out as the "real deal" is that he invites you to view him live, once a month, for FREE on the internet where he puts his words into practice.

Callahan

Put the other book back and get this one:
One of THE best Forex books on the market. Starting out you will find you need bucket loads of time watching this thing called Forex before you have any idea about trading it. When every trade you make is tanking, its difficult to stay with it. Reading this book, I finally had straight forward answers and identified all my bad habits. Wayne's years of experience, starting from scratch just like myself, became my own in a matter of months. My understanding of Forex and trade ability increased ten-fold.

This is a comprehensive education, covering multi timeframe technical analysis and the fundamentals of the global currency market. Relationships between currencies, economic news, international stock markets and commodities are all shown to you and explained well. Most importantly, you learn what it takes to trade. You learn to be self reliant and organised. You'll also learn a lot of interesting facts about the world. You may start giving advice to people on housing prices and the state of the economy. There's no shoddy magical system being sold in this book. What it comes down to is the only way to learn Forex is from an expert, and this guy is a great expert to listen to. FX is tougher than you might think, but luckily this book is awesome.