Product Description

Praise for FOREX CONQUERED

"In this amazing book, John covers it all. From trading systems to money management to emotions, he explains easily how to pull money consistently from the most complicated financial market in the world. John packs more new, innovative information into this book than I have ever seen in a trading book before."
—Rob Booker, independent currency trader

"John Person is one of the few rare talents that are uniquely qualified to help traders understand the process of successful trading. With today's markets becoming increasingly challenging, John has cut right into the essentials and brought forward the much-needed tools of forex trading. This clear and well-organized publication is a major step forward in helping traders gain an edge. I would highly recommend Forex Conquered as a valuable handbook for both aspiring and experienced traders alike."
—Sandy Jadeja, Chief Market Analyst and EditorLondon Stock Exchange, London, England

"Forex Conquered is a bold title, but this book delivers the tools needed for successful forex trading. There is no fluff here, just the wisdom of a trading veteran that I have always respected-and followed."
—Michael Kahn, Editor, Quick Takes Pro market letter and Columnist, Barron's Online

"This is a wonderful, in-depth view into the explanation of technical analysis and prudent money management guidelines in the forex market."
—Blake Morrow, President, 4XMadeEasy

"Forex Conquered is a meaningful contribution to the growing number of books on forex trading. John Person provides a professional view of forex trading that readers will be able to use as a guide for strategies and tactics that work. The scope of the book covers more than forex and includes salient aspects of futures and option trading. It should be read and then re-read!"
—Abe Cofnas, President, Learn4x.com

Note: CD-ROM/DVD and other supplementary materials are not included as part of eBook file.

Product Details

• Amazon Sales Rank: #238362 in Books
• Published on: 2007-03-30
• Original language: English
• Number of items: 1
• Binding: Hardcover
• 304 pages

From the Inside Flap

If you intend on successfully trading in today's foreign exchange market, you need to be familiar with the strategies and systems that can help you capture consistent profits and effectively manage risk. Nobody knows this better than author John Person. With almost thirty years of experience in the trading business—as a broker, trader, and teacher of traders—Person understands what it takes to make it in this fast-paced environment, and with Forex Conquered, he wants to show you how.

Whether you're a position trader, swing trader, or day trader, Forex Conquered can show you how to successfully navigate this dynamic market by using proven technical analysis techniques. Filled with in-depth insight, expert advice, and detailed examples, this book presents you with a comprehensive set of trading tools and reliable trading tactics that can be applied to everyday forex trading. And through discussions of different issues associated with trading the currency market, it also provides you with the knowledge needed to properly enter a position; identify a trade setup, trigger, or entry execution order; effectively place stops; and exit a trade without hesitation.

Written with the serious trader in mind, Forex Conquered:

• Examines what it takes to develop a trading system, how to evaluate it from a hypothetical standpoint, and apply it in real-world forex trading situations

• Covers the fundamentals of candlestick charting and explains how to utilize them

• Highlights the benefits that leading price indicators like Fibonacci price corrections, extensions, and projections analysis have to offer

• Introduces Elliott wave theory and illustrates how to apply this method in the forex market

• Outlines three effective trading systems based on pivot points—the stochastics system, the MACD histogram system, and the pivot point moving average system—that can be immediately implemented in your forex trading endeavors

• Explores essential trade and risk management issues

In addition to the valuable information found throughout these pages, this book's companion CD contains a Fibonacci calculator as well as a pivot point calculator, which can assist you in developing a trading plan without having to purchase extra software. Best of all, these calculators may give you an edge in determining longer-term price objectives, such as quarterly or annual price outlooks, which most software cannot do. The CD also includes six separate tutorials totaling more than 40 minutes of one-on-one instruction.

You can achieve success in today's foreign exchange market, and Forex Conquered can show you how. This practical guide will help you make the most informed trading decisions possible and show you how to profit from one of the largest financial markets in the world.

From the Back Cover

Praise for

FOREX CONQUERED

"In this amazing book, John covers it all. From trading systems to money management to emotions, he explains easily how to pull money consistently from the most complicated financial market in the world. John packs more new, innovative information into this book than I have ever seen in a trading book before."
—Rob Booker, independent currency trader

"John Person is one of the few rare talents that are uniquely qualified to help traders understand the process of successful trading. With today's markets becoming increasingly challenging, John has cut right into the essentials and brought forward the much-needed tools of forex trading. This clear and well-organized publication is a major step forward in helping traders gain an edge. I would highly recommend Forex Conquered as a valuable handbook for both aspiring and experienced traders alike."
—Sandy Jadeja, Chief Market Analyst and EditorLondon Stock Exchange, London, England

"Forex Conquered is a bold title, but this book delivers the tools needed for successful forex trading. There is no fluff here, just the wisdom of a trading veteran that I have always respected—and followed."
—Michael Kahn, Editor, Quick Takes Pro market letter and Columnist, Barron's Online

"This is a wonderful, in-depth view into the explanation of technical analysis and prudent money management guidelines in the forex market."
—Blake Morrow, President, 4XMadeEasy

"Forex Conquered is a meaningful contribution to the growing number of books on forex trading. John Person provides a professional view of forex trading that readers will be able to use as a guide for strategies and tactics that work. The scope of the book covers more than forex and includes salient aspects of futures and option trading. It should be read and then re-read!"
—Abe Cofnas, President, Learn4x.com

About the Author
John L. Person, CTA, is President of Nationalfutures.com, a professional advisory service, and President of J&B Capital Management. In 1998, he developed his own proprietary trading system and began publishing the Bottom-Line Financial and Futures Newsletter, a weekly commodity publication that incorporates fundamental developments as well as technical analysis that includes the data from his trading system, using pivot points combined with candlesticks. Person has appeared regularly on CNBC and is widely quoted by Reuters and MarketWatch from Dow Jones. He has also written many articles for major investment magazines, and is the author of A Complete Guide to Technical Trading Tactics and Candlestick and Pivot Point Trading Triggers (both published by Wiley).

Customer Reviews

Nothing good here
I would agree with Ctrader that this book is not good at all. The CD is a joke as the so called calculators are available for FREE on the internet, deceiving as the "calculators" are webbased and FREE. Unfortunately, once you open the CD you cannot return the book. The 3 systems are worthless, MA and MA of Pivot Point crossovers. A joke. The Fibonacci part, well the author actually missapplies these lines, on the wrong leg, LOL, applied on the current leg instead of on the leg being retraced. A joke. You could learn more for free on the internet from people that actually know how to apply what this author is trying, but not succeeding, in explaining. It is a shame the Wiley would let this author write this book and to allow this nonsense to be published. Shameful way to steal people's money, since once you open the CD slab you cannot return the book.

More of the same
I have bought this book as I had heard a lot about this author from trading symposiums. He may be a great trader and also may be a great presenter in symposiums but when it comes to writing a book, I would not say he was successful.

1. Good amount of content in this book is a repeat from his other two books. So if you happen to have one of his other two books you may want to ask yourself why do you want to buy this book.

2. Good amount of content in this book is freely available in the internet. Not only its covered for free in the internet, its actually more detailed and better articulated with good examples. Take the challenge and just do a google search for simple terms like candle stick, pivot points, stochastics, MACD, chart patterns etc and you will be amazed how much great content is there for free.

3. The three trading system methods being discussed is nothing new. Even if its not new, I would have atleast expected that these systems be covered in more detail with proper definition of the rules. Unfortunately, only overview of the system is provided and its up to the reader to figure out the missing pieces are. Book touches upon filters, entries etc but nothing detailed enough to be useful. I don't really know why the author calls the systems high probability. The first 2 of them are based on stochastics & MACD respectively. The last one is based on pivots & MA though not new, detailed information on tis system is not provided.

4. The tradestation back testing strategy code and the results looks like are cheri picked. You try to run that strategy with different instruments you will see the real truth. There is nothing great about this strategy. He talks about scaling when entering the trades but he does not incorporate that in the strategy and leaves it to the readers to figure that out. What is given in the strategy is the most basic version which you can find by posting in tradestation forum for free.

5. The pivot point moving average system strategy code is not presented. I was looking for clear rules on how this strategy can be implemented. If you talk about a strategy, you got to be specific about the rules so that anyone who want to backtest can do so. Unfortunately the rules are not specific. I had written to the author to get more information about this and found out that he would be selling this as an indicator in 2008. So looks like (my personal opinion) the Pivot point Avg system being mentioned in the book is a marketing instrument for his indicator being sold. I have read other books where the author refers to paid indicators he has written but does provide detailed information on how those indicators work and the details/calculation behind that in the book. If someone likes it and do not want to develop it themselves, they can always buy it if they like.

6. CD...... I am amazed that the author is marketing about calculators. All the calculators he talks about are available free in the internet. In addition, anyone who has excel can create these indicators in less than 5 mins. Most trading software automatically calculates these numbers. So I am not really sure what is the value of the indicator other than for marketing purposes. The CD does have a training video which is good. Other than that, I feel this CD is a way to make sure that you don't return this book as once you open the CD you cannot return it.

7. Looking at the chapters, you will notice...
Introduction to Forex... nothing new here... You can read about this in million sites for free.
Candlestick.... All this content is free in the internet. If you already own his previous book, you are wasting your money to read the same content thats available elsewhere.
Patterns..... Same as candlestick. Its filler information. No new insight. No actionable information. Unfortunately nothing of value here.
Fibonacci chapter was so theoritical even if you read it 10 times you will know what it is but will not help you in any shape or form. Its like learning about the internals of the car's engine which has no relationship to how to drive the car.
Trading system chapter was not detailed enough and lacked depth.
Psychology chapter was brief..

In essence, the book is like going to a mediocre Sunday buffet. It has references to different concepts but none of the concepts are covered in depth nor any new insight provided.

8. Since you paid good amount of money for this book, you atleast expect the book to be printed in good paper. You will surprised that the quality of the paper printed is also not good.

9. On the good side
Book discusses about Multiple Timeframe analysis which is good though Elder does a better job in his book.
Discussion on scaling out is interesting.
Quick Training video in the CD is good.

In summary, this book is not worth the money. No new information. Even the information covered is not covered in detail. Not much actionable information. So if you don't have access to the internet and cannot read content online, you can pay for this book to get all the basic information (in a printed form) though you can get such (better) information for free in the net. If you are looking for specific information on the 3 systems John is talking about, be prepared to get disappointed.

Hope this helps.
Ram

Be aware
In this book you will have lots of fillings. like that one: because any idea will work great if you have a trending market; so I do not like the charts that shows a good looking results while it does not work in the real live trading conditions. which is not gonna be a strong trending market forever. So why the author does not show us how his method will do in different market conditions - and present a bigger range of data - (not only the sweet straight trends). This book has three poor "Trading systems" with no commission or slippage (the profit target for the winners is 40 pips while the neglected commission is 30). Sure it will look good on the back tested results but unfortunately it is not realistic, it is deceiving results based on selected market conditions. You will read about "traditional chart Patterns" which is useless pages and also "candlestick patterns", "pivot point calculation" which are free on the internet, you will read another introduction to the Currency markets...... and so on. Who need this stuff even for free? I could not find one single thing or idea to say something positive about this book. The advertised + CD on the cover of the book as if you will get a bonus from the author; is nothing but another useless empty item on the top of poor book. So Be aware of any guy with ear to ear smile on his book cover. and do not believe the five stars unless the reason is clear. review it first then make up your mind