Book Review on Kathy Lien's, "Day Trading the Currency Market" wanted

[fx42n]

Greetings. I am new to trading Forex, and have noticed that FXCM's Chief Editor, Kathy Lien, has published a book on Forex Trading. Please correct me if I am mistaken, but my impression of FXCM is that it has high standing in the Forex Community.

I am wondering if anyone has had a chance to read the book, and if so, what is their impression of it? My main concern is that it would it be too advanced for a novice trader like myself.

I would appreciate any feedback. Thank you.

[Kingtrader]

fx,

I'm in the process of reading it. I'd say this book is for both new and semi-advanced forex folks. It gives a good description of the history of currency market beginnings, some tech and fundy strategies with parameters for trading different markets, and a good analysis of what drives short/long term currency markets . Kathy also spends some time (a bit long in my opinion) on the profiles/unique characteristics of the major pairs.
Its a good read all in all - kinda wanted to see more day-trading strategies but I think that's b/c I'm like most in that I'm quickly wanting to find the holy grail (as I use one of the most overused forum-board phrases). Nevertheless I'd recommend it!

Kingtrader

[Paulolion]

Any book you can put your hands upon is certainly helpfull. But hey, let´s be honest, if she really knew how to trade, she wouldn´t be wasting time making a book.

Don´t get me wrong, she might have some knowledge about the market, and the book might help you a lot, but i´m sure it won´t let you know how to win money. Just think about it, if you had a method to win a million, would you sell it for 20 or 30 bucks? Even more if you knew how to do it, would you write a book about it and let everyone know your secret?

[Trader/God]

Originally Posted by Paulolion

Any book you can put your hands upon is certainly helpfull. But hey, let´s be honest, if she really knew how to trade, she wouldn´t be wasting time making a book.

Don´t get me wrong, she might have some knowledge about the market, and the book might help you a lot, but i´m sure it won´t let you know how to win money. Just think about it, if you had a method to win a million, would you sell it for 20 or 30 bucks? Even more if you knew how to do it, would you write a book about it and let everyone know your secret?

Yeah we hear this anytime someone offers advice, training, etc. Very few books including this one, promise to make you rich. But Kathy does give good, sensible advice and if you are new to the market you will be able to learn a lot from it. Just like every single other finance book out there it contains no money making “secrets”, probably because they don’t exist. It give what it promises, an understanding of the market and what moves it and some trading ideas you might consider incorporating into your own trading. My personal opinion is that the book is too expensive and most of the information is not practical for trading. Not a bad rookie effort.

Trader/God

[kramnave]

I've bought the book and its a good read. I wouldn't say that you will be profitable reading the book but it does give you a good picture on the forex market and some strategies that you might want to consider basing your trading on. I believe that its benificial for any forex trader to understand the forex market. If you are looking for a book then i would recommend it. Else, it is not a must-buy.

Kathy has worked for JP MORGAN, is currently a Chief Strategist for FXCM, gave seminars and wrote articles and is a young lady. Anyway in my biased opinion i don't think she is out to make money from the book by revealing her "secret". She never ever said her book was the holy grail like many mentors and authors over the net. I believe the book was published with the main aim to get potential new forex traders to view FXCM as the next step should they decide to trade forex.

Lets say i do not know much about forex and i decide to buy her book. Once i've decided to trade forex, the next step is to find a broker and voila. FXCM would be my preferred choice since a i'm reading a book from a professional and the firm she is working for has to be one of the best around. No offence to anybody about my views. Its just my personal opinion.