Hi TRADERguy,
How detailed a book is this? I looked at the table of contents on Amazon.com and the book seems to delve into every nook and cranny of FX (history, spot, forwards, options, swaps, futures, technical analysis, and fundamental analysis) but the book is only 196 pages. Is this an overview for beginners or does it get into something real for the rest of us?
I don't trade forex so the following is written from that perspective:
I bough the book 18 months ago (the book was published in 2003) when I was thinking of getting into the market; I didn't, but that had nothing to do with this book. It is basically an introduction for newbies to the market and although only 182 pages (in my version!) it covers a lot of ground and I think it gives fairly decent coverage.
It does not really cover 'how to trade' and I don't think that is what you are looking for. Technical analysis is covered in 10 pages; RSI, Bollinger Bands, Moving Averages, etc, covered in a single paragraph each, so anyone coming into forex who had not traded in any way on anything else IMO would need to read something else as well.
But it gives good overall coverage (obviously without going into great depth) on the history of Foreign Exchange, the role of all the players, currency swaps, options, etc, etc. And I thought (with my own limited knowledge) was a good launching ground from which to do further research. In some respects, although aimed at beginners, it is probably of more value to someone who has some experience in trading in another area, but that is just my opinion. Cornelius Luca is, I believe, a classic text.
So, from limited knowledge, to sum up: a good basic introduction that covers everything, but not for someone wanting to be held by the hand and told when to buy or sell. Anyone wanting a beginners text on TA applied to forex should look elsewhere.
This post is becoming almost as long as a book review! Perhaps someone else, who's read it, and traded in the market, will give their opinion? Anyway, hope this helps.
