Forex Trading for Maximum Profit: The Best Kept Secret Off Wall Street

by Raghee Horner

Book Overview

Take an in-depth, how-to look at Forex trading using the methods, analysis, and insights of a renowned trader, Raghee Horner. As the fate of the dollar against foreign currency generates both anxiety and opportunities, currency trading has been drawing much interest and a growing following among traders in the United States. The Forex market is particularly attractive because it trades with no gaps and has unlimited guaranteed stop-losses. The liquidity...

• Format: Hardcover
• Language: English
• ISBN: 0471710326
• ISBN13: 9780471710325
• Release Date: December 2004
• Publisher: Wiley
• Length: 224 Pages
• Weight: 1.28 lbs.
• Dimensions: 0.7" x 7.3" x 9.9"

Customer Reviews

Still learning after 40 years of experience

Who said " you can't teach an old dog a new trick? " I have read many many books over the years on markets of various types. Though I have not traded the 24 hours Forex market, I have traded the currency markets as well as the futures, stocks and options. I have been student of all kinds of systems, Fibonacci and Elliot Wave, Gann - have used dozens of indicators, yet I am always looking for something more to learn. I figure that if I can learn just a bit more I may become a better trader. That brings me to Raghee's book. I found that her 34 days EMA wave theory combined with trend lines and Fibonacci retracement values a very useful set of tools in setting goals of 1) what price to enter a trade , 2) where to exit (either for a profit or stop loss ). These tools though were always there, but I had not seen them put together as Raghee has, and she teaches in a very understandable way, step by step that makes sense. She has been trading 1/3 the time I have, yet her wisdom, logic and probably knowledge is several folds greater than mine. I am glad to have bought and read the book, more than once, and I have listened to the instructional CD that comes with the book many times. Thanks Raghee. I am looking forward to your next book detailing your real trades in 30 days hoping to learn more.

This book changed my trading.

I have read countless trading books, been to all the seminars, and tried alot of software. When the dust settled Raghee's book was still standing. Not to say that the other things did'nt help but this book simplified my trading. Now I know what to look for using the blueprint in the book. The pratical and tactical methods the book has taught me has increased my pip gain tremendously. It is not a magic box, you must be patient and work hard to apply the rules in the book. I still struggle at times, but with all things practice makes us better. Thank you Raghee for making a book that makes sense. Get the book. Cecil Glenn

A classic view of one trader's style.

Aside from the editorial errors and small charts...this book is a thought-provoking classic. I believe everyone would like to speak with a successful trader and see what he or she does to achieve that success. I have never come across a book quite like this one. The author thoughtfully teaches you how she trades and shows you exactly what she does to set up the two kinds of trades she watches for, swing and momentum. At first I frankly didn't see what the difference would be since I have not actively traded and actually was more interested in the longer term view. However, the way she explains it, even if you are a longer term trader or investor if you will, one must to learn how to read charts. I was also impressed by her method of approaching news. She shows you which reports move the forex market and how to deal with news which actually was something I used to get caught up in. I feel like I have a plan that tells me what to do and where to go with each trade. I also appreciate that I only have to focus on around four to five trading tools. One can easily get lost in trying to learn or use too many. This has simplified trading for me and also shown me how to find chart patterns in the correct manner. The way she identifies chart patterns is so simple that I think I must be doing it wrong. However, when the trade works I know that I got it right!

awesome, deserves a read

I'm totally blown away by this book. It's going to be my trading bible. It has everything. A trading plan, a q & a with the author, psychology. I was afraid I may get another general book about Forex and market paticipants and the basic indicators. I was happy to find a complete trading plan that takes all the questions out of when to buy, when to sell, how to put in my orders, how to take profits. The book is written like the author is talking to you and I finished it in 2 days, it's that good but I could have done without the many, many typos. There's good info here. I know I will want to review some chapters like chapter 10 fibonacci levels and chapter 26 that talks about charting the US Dollar with other currencies. I liked the chapter on prep-work which makes finding trades very simple and fast using moving averages. She teaches how to trade from 5 time frames so I have the choice to play longer term with a daily chart or a short term chart like the 15 minute although she doesn't use anything smaller than the 30 minute chart. I found I could go to even the 10 minute with her Three Classic Tools to a Three Step Set Up. I think what was also helpful is that I thought I would have to get up early or stay up late to trade forex from what I had heard at other seminars I went to but she teaches market overlap and explains that you don't have to which was my biggest worry. Look past the typos and you'll find good info. Worth a read.

This is THE guidebook to successful trading

Having read the other reviews for this book, I knew I would either love this book or hate it. After reading it (twice!) I see that some reviewers missed the point completely. This book was written by a successful trader to show people how she trades. I don't need another book on my shelf that tells me which indicators do what. There are a few chapters that I wish were longer. I especially wish she elaborated on her views on investing compared to trading but considering that the Ms. Horner wanted to share very specific tools and a very specific trading plan, I think she succeeded. She goes against a lot of the conventional wisdom in most trading books and I have to think that it is because she has being doing "it" profitably. Her choice of tools is good and I have learned how to finally use fibonacci retracements from her book which is something I thought I would never master but after learning about minor highs and minor lows as Ms. Horner explains in the book it is much easier. Another concept from this book which was invaluable was the difference between momentum and swing trading. Anyone who is tired of buying highs or selling lows only to see the market reverse and move against them should read that chapter. The explanation of how to use what she calls the wave is worth the price of the book which I thought initially was a little high. The CD in the book is a great resource and a very helpful addition. Overall I would have to say this book really delivered and is highly recommended.