Survive And Prosper In The Great Depression Of 2009 2012 A Step By Step Guide To Amassing A Fortune Trading Foreign Currencies
September 23, 2009 by sgtwak
Filed under Uncategorized
Millions of Americans are this very moment facing the most frightening economic conditions since the Great Depression. However, a small but growing number are living worry-free, having learned a skill that will keep themselves and their families not only living in comfort, but prospering like never before! That skill is Trading Foreign Currencies. Once the private playground of the super-rich, trading currencies is now open to anyone with a little knowledge and at least $200 to open a trading account. With this book, author and long time forex trader J.J. “Jeff” Glenellis explains everything you need to know to immediately begin prospering as a forex trader. From finding a broker and setting up your first set of charts, to learning how to easily spot certain Trade Set Ups that instantly become profitable, you’ll learn enough in this informative and entertaining book to instantly begin earning extra money each week as a Forex Trader.
User Ratings and Reviews
5 Stars Great Intro in the Forex World
This was the first book I read about Trading in the Forex Market, and it was great, infact, I am on the road to becoming a fulltime investor (very slowly) and using alot of Jeff’s advice and methods for trading – this book is a MUST HAVE for every Forex investor. Great book and really great value!
1 Star Title should be: “Lose and Suffer in the Great Depression…”
I was completely unimpressed. One thing that irritates me to no end is when some wise guy creates a chart of how much money you will make earning 10 pips per day, 20 pips per day, or ? per day. In this book, it’s a chart that shows your road to riches if you earn 5% per day, like he purportedly did. I’ve earned 5% per day, and I’ve even earned a lot more on occasion. However, all it takes is one loss to knock you out of the spreadsheet. ONE LOSS! Imagine how devastating a string of losses would be to the bottom line! While these people tell you that there will be losses, they fail to factor that into their little tables. (Note: If you have a system that produces wins 60% of the time, and where the stop-loss is equal to the profit target, right away you would see that you would have to actually be able to gross at least 8.33% of your equity per day, to end up with 5% net profit. But, when do you stop trying to bag that 5% profit? When you have a 20% drawdown? I wish I had some recommendations to give readers of this review, but if I had a system that would consistently “win” 60% of the time, I wouldn’t have bought this book to begin with!!!
Also, this book is a retread. Oh, sure, there are plenty of subsequent editions of books out there, but he just took the old book, and added his “updates” in italicized notes, rather than re-writing anything. I got a laugh at how he states that a particular system no longer works! Why waste peoples’ time trying to explain how one “might” make it work!! For the money, it was really disappointed that he couldn’t re-write, or completely eliminate, the parts that should be scrapped.
My recommendation is that you save your money and pass on this book. At least check out the reviews for this item on forexpeacearmy.com before you decide to toss your money to the wind.
5 Stars Excellent Resource
Mr. Glenellis has written an excellent resource that I have added to my Forex library. It is an easy to read book that provides tools to profitably earn a consistent income. I’ve utilized several of his strategies successfully in a demo account and will soon use them live. What is so good is that he provides guidelines to follow but then leaves it up to the reader as to how to make these strategies uniquely successful.
I heartily recommend this book to any serious Forex trader.
5 Stars Survive And Prosper In The Great Depression Of 2009-2012
Survive And Prosper In The Great Depression Of 2009-2012: A Step-By-Step Guide To Amassing A Fortune Trading Foreign Currencies
Great Book
3 Stars This is a decent book and a great intro
Although I had educated myself a lot on the principles of forex and knew a lot about it forex in general, I knew almost nothing about the actual software use, moving averages, indications, oscillators, etc… I must say this was a great intro to that world. Don’t buy this book expecting to teach you about Forex, what it is, and all the theories behind it. Buy this book if you already know that stuff and now want to delve into the online software world of forex.
Even still, this book is a mere, albeit great, starting point. Sure, I suppose you can stop here and use his method and I hope it makes you money. But after reading this book, I then took out every book at the library on candlestick charting and technical analysis and I still don’t feel fully comfortable to start using real money. However, after learning ALL that information from the library, I must admit, I still have his moving averages on my charts as a nice cross check to my other methods.
My only major complaint is that the author states that if you follow his detailed plan you can make a million bucks. He gives all the necessary warnings and thats fine, but what isn’t fine is that he spills the beans by admitting that he himself has NOT even come close to making that million yet as of the publishing date. It would be like starting a company, making a few bucks in profit, and then considering yourself an expert enough to write a book. To some degree, he’s right because he (if you believe him) has made money, but is he right enough if he hasn’t even accomplished the goal of the entire book?
Thats for you to decide. Moving averages are nothing new, but don’t approach this book as novel and a unique way to make millions in forex, look at this book as your first step towards hundreds of thousands of pages of research on forex trading.
