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DayForex Community -> Praise for Bird Watching in Lion Country -> best book i have read on forex
Post Info TOPIC: best book i have read on forex
huza78


Class of 2012

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Posts: 2
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best book i have read on forex
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Hi everyone, I just wanted to put up a post after i recently bought the bwilc ebook. I am quite new to forex about two years now. I first heard about forex from a somewhat reputable stock market training school in Australia. They gave me there slick presentation of how i could make a killing trading the forex market. The company advertises in the papers alot over here and it has a securities license and is regulated by the australian securities investment commision. So i thought nothing of it handing over $3500 for a two day seminar teaching me four technical analysis systems that were backtested as successful. Anyway after the course i demo traded the systems as they told me to and i just couldn't get it to work, I wanted to do a refresher to see if i was not doing something, but they canned the forex seminars, i guess others couldn't get it to work either, and this is a big company that prides itself on researching and testing successful systems (based on technical analysis that is ). So i put forex trading on the back burner for a while, then i heard of freedom rocks which hedge the eur/usd usd/chf and gbp/usd at high leverage. At first it seemed very promising because i doubled my account in less than two months because the gbp/usd was in a strong uptrend. The system was marketed as a set and forget. Well in the ensuring month the account lost all the gains it had made and then went into margin call. So i new this was another dead end. I then bought a bunch of ebooks and systems off ebay and even tried expert advisors all this was more money and time wasted. By this stage i am  starting to think that my abilities would be better spent doing something else, and reading all the information on other websites about how only 5% of traders make any money left me feeling quite upset that i couldn't crack this. just when i felt like giving up, I read some of dirks comments on the moneytec forum and so i subscribed to his newsletter and then bought his book. After reading the book, I felt like a weight had been taken off my shoulders and that all the searching for the answers and frustration was all worth it. I now know why i couldnt be successful at trading the forex. I was way over leveraged, didn't take any fundamentals into account, and to focused on setting stops. I have tried applying dirks recommendations in the book. I still not making much profits but at least im not blowing my account because i am only using 2:1 leverage. I want to go onto get the mentoring from dirk but am studying at tafe at the moment as well as working full time, so it will have to wait for a few months. But i know this is the key to me becoming on of the few successful forex traders. I think your wasting your time, looking anywhere else for information on how to be be successful in forex. don't get sucked in by the marketing wizards, and buy bwilc and read it again and again you won't regret it.

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"Carpe Diem" (sieze the day)
pipmewithyourbestshot


MP 06 Life Member

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Posts: 101
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Dirk is the Man!

I've been getting mentoring from Dirk for over a year now. Bottom line....I am making significant money as a result of his training and lessons that he provides. I wanted to share a review from another professional trader and well known author on the subject of FOREX, Mark McRae. I've been on Mark's email list for awhile and I was surprised to get this from him. Please read!

Trade Without Indicators

Hey Steve,

I just bought a really great ebook with an even more unusual
title called "Bird Watching In Lion Country".

I often get offers to review trading books and courses but I
actually bought this one. The main reason I bought the book
was the number of subscribers and clients who ask me about
it. I know you have just recently purchased my course so I
thought this might also be of interest to you.

I haven't spoken to the author so he wasn't making a sales
pitch to me and I must say that I am really impressed.

What impressed me was his whole approach to the Forex
market. It's not like any other book I have read on the
subject and his method is different from anything else I
have ever seen. It is called the 4X1 strategy.

It's a big ebook at 236 pages but there is no fluff there.
Its all great content. It made me take a serious look at my
own approach. I have always advocated making money
management the core of any system or method but the author
really hammers this home with some great examples.

The actual method is a bit unusual in that it doesn't use
any indicators. The concept isn't new but the way he applies
it, is very unusual. I also like the way he takes in the
whole picture of the Forex market including fundamentals.

This isn't one of those "you'll make a 100% a month books"
it's a serious book obviously written by a professional
trader who trades for a living. He walks the walk!

The book is also very inexpensive. I would say that other
than my own stuff of course, I would rate this one of the
best books I have read this year.

Here's his website
http://clicks.aweber.com/y/ct/?l=7OJkV&m=9REVIIBjFkrPX&b=iHmYEZF4JTMQQhFES9PGDA

I highly recommend it.

Good Trading

Mark McRae

P.S. If you do purchase this book, take the time to read the
whole thing. I know it's easy to skip pages but you would be
missing a whole lot if you do.



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Steve
tangodancer


MP Class of Jul 08

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Posts: 1
Date:
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I am also on Mark`s mailing list having in the past purchased through him and one day he sent me the info about BWILC and my whole life changed. I read the book five times and then contacted Dirk and started on the July 2008 mentoring course. It`s been a week in the mentor course and I have learned so much about central banks and their actions that affect currency price between countries. That is just the tip of the iceberg! Go BWILC!!

Danny

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