I highly recommend Dr. Forexs book, Bird Watching In Lion Country, because golden nuggets of information can be found on each page explaining how to become a successful currency trader.
The information has helped me to reduce my anxiety during live trading by learning how to embrace randomness within the median grid .
I did not have to make much of a paradigm shift when learning the techniques inBWILC because I had not previously did any live trading. My initial trading was limited to a demo account using techniques designed for short time frames [1-5 minute charts]. Dr Forex explains in BWILC how attempting to trade within short time frames will cause you to loose money.
BWILC helped me gain insight into how the market really works. How viewing price, event, time as a single entity will help you to understand the meaning the market is sending you
Also the techniques of Multi Entries and Low Gearingare wonderful.
I really knew nothing about cost averaging and risk management; important topics covered in BWILC. Excellent advice on when and how to close positions within the grid when the mark goes against you
The 4x1 strategy and median trading concepts are deceptively simple. This experience can only be gained through live trading
A more experienced trader could probably jump from the info in BWILC and immediately begin to trade profitably with a live account. But if you are new to the Forex industry like I was then I recommend that you practice using a demo account and then enroll in the mentoring program because the mentoring program covers the concepts in BWILC on a much deeper level.
This book has paid for itself many times over. I have made a 46% return this year using the techniques in the book. But don't be mistaken--simply following this book doesn't mean you received a "brain download" like in the movie, The Matrix, and can all of the sudden be a trading superstar. The best lessons are experience. Expect to really work at analyzing the fundamentals, guage what the market "should" be thinking and learn how to do YOUR OWN analysis. That is the most important part of BWILC. It's not about the trading methodology or analysis- it's about owning your own brain and not listening to others, and still being able to make a killing! Make mistakes but keep your risk low. Read this book and absorb it fully.
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the gestalt shift - a blog about thinking outside the box to profit from fx
This book is always within easy reach and I have worn out a highlighter or two on it. It is by far the best Forex Trading book I have read. It goes beyond the traditional trading system mentality and exposes the truth about trading in the Forex Market. Dr. Forex shows you the door to open to "Own Your Brain" again and wear to find YOUR EDGE. It is truly a "Paradigm Shift". I encourage you to print it, bind it, and then wear it out.
BWILC teaches the reverse of what Ive previously read in most of my How to trading books. This book makes real sense and has taken the stress out of trading for me.
I've still got a long way to go, but I know I'm going to make it in Lion Country if I follow the path Dirk has laid out for me.
BWILC is an exceptional work. No hidden components. I do believe that it is an excellent primer for anyone who wants to succeed in this business. its most important feature to me was that I realised that I (and I believe almost anyone) needs help beyond any reading and it spurred me to enter the mentorshop program which I believe is an essentiol component for me to succeed
I have been reluctant to give premature praise to any book or course, the reason being that when I have attended a course or read a book I had been asked to write my comments before I had a chance to put it to the test. At the time most seemed to be ok and hence got good reviews, however, as time progressed I always regretted my comments as they never performed as expected.
The exception to this is BWILC. I read the book, tried the strategy, done well then lost. After a re-read I found my problem. There is a lot in this book and it cannot be absorbed with one read. After attempting again and doing well and losing again (mostly being leveraged too high) I decided to join the mentoring programme. After completing the basics, I am now starting to have a better understanding of what Dirk explains in the book.
I stopped live trading and started to re-program myself and opened a Demo account. While it is only early days yet, in the last month I have had 30 trades for no losses and a 10% increase in my account (trading conservatively and have tried to emulate how I will trade live). Maybe the conditions were good and things will change, but so far, everything that I have applied from BWILC is working the way that Dirk explained it would. Only time will tell but I cannot recommend highly enough the value of this book with the mentoring programme the perfect compliment to it.
I think the purchasing of Bird Watching In Lion Country is the best action a trader can do, in order to dramatically improve his understanding of the Currency Market. And I highly suggest to take the mentor program all above for who, unfortunately, has begun this activity in a wrong way. Have a good trading to all !
