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This book explores the application of intermarket analysis to the foreign chat market, the world's largest and most widely traded fiscal market. Intermarket analysis helps traders identify and anticipate changes in trend direction and prices due to influences of other related markets as fiscal markets have become unified and interdependent in today's global economy. These markets include forex futures and options as well as major cash forex pairs, which are affected not only by other currencies, but by related markets such as the S&P Index, gold, crude oil, and interest rates. As the world economy of the 21st century continues to grow and as new advances in information technologies continue to be introduced, fiscal markets will become even more globalized and refined than they are today, rising the central role that the forex markets play in the global economy.
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 You should delight in and find value from this primer on forex trading. |
| Review Date: March 16, 2009 |
| Assessor: Darla D. Tuttle, Wesley Chapel, FL |
Review written by Van K, Tharp, Founder of the Van Tharp Institute
If you'd like a excellent initiation to forex trading, then Lou Mendelsohn's book is a fantastic way to get you ongoing. Most people who enter into a new area have no clue what they are up against, and Mendelsohn's new book does a excellent job of illustrating the complexities of trading foreign currencies for the beginning trader.
Let's look at a few of the chapter titles to see what's under the covers of this compelling small book.
What is Forex? Mendelsohn discusses the history and development of this specific market as it has developed over the years from pure intrabank trading to futures contracts to the cash markets that are now unfilled to the average shareholder.
In the chapter entitled, "The Forex Market" Mendelsohn discusses the primary reasons to trade forex. He also covers basic points that are essential to know about how the forex market works, such as how prices are quoted and some of the key pitfalls that a forex trader might face.
For model, individuals trading the cash market should be very traditional with the bid/question spreads being quoted. Even if there are no commissions in cash forex trading, that spread can be very large because only the firm with whom you are dealing is quoting the prices. Furthermore, some of those firms may not come under any regulatory jurisdiction. Therefore, you must know what you are getting into when you jump into the forex arena.
In the chapter entitled, "Fundamentals and Forex," Mendelsohn lists a number of different intelligence that can affect the U.S dollar plus other intelligence that can influence other currencies. If you jump into the market lacking being aware of a report that could have a major impact on the market, you could face troubles.
If you feel intimidated by the forex market at this point, Mendelsohn suggests that you could simplify it all by just looking at price and the trends not compulsory by the price. But, even this is more intricate than just looking at one market because a number of global markets all impact the various currencies. For model, if you want to trade the U.S. dollar versus the euro, Mendelsohn suggests that you need to be aware of what's experience not only with values of other currencies but also with prices of gold, oil and other markets related to the dollar.
Mendelsohn has found a solution to this problem by using neural networks to find the 10 markets that have the most influence on a target market and then analyzing the impact of these various markets on the contemporary value of the target market. As the developer of VantagePoint Intermarket Analysis Software, he has been a pioneer in designing software to help traders get owing to the intricate task of dispensation all of this information.
Even if the book does not delve into all of the details de rigueur to build a trading system, such as how to trade forex using stops and exit points, or money management concepts, such as developing objectives and position sizing to meet them, this concise book fulfills its goal by just pointing out some of the complexities of the forex market.
Mendelsohn is an expert on intermarket analysis, and most books on forex ordinarily don't even start to point out the complexities and pitfalls that you must steer to be successful in this massive market. With that in mind, you should delight in and find value from this primer on forex trading.
Van K. Tharp is the founder and president of the Van Tharp Institute and stands out as an global leader among professional trading coaches and consultants, based on his mission of helping others become better traders since 1982. He is also an educator for www.TraderPlanet.com, a free educational website.
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Fascinating and Ingenious Solution
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| Review Date: September 23, 2006 |
| Assessor: Scott Shubert, Santa Fe, NM tradingmastermind.com |
| I was interested in the thought of intermarket analysis after conception an article in Currency Trader Magazine by Barbara Rockefellar. Since I am always open to new thoughts (new to me) this seems like a tool that could really add some valuable clues to my trading pronouncement making administer. I am VERY interested in the software that has been developed to help automate this administer. I'm sure it's not for everyone since everyone does not yet have a success attitude. But while one person will complain that he sells a product in the book, a additional person will place it into use and become wealthy, pleased and fulfilled. This is the case with most everything in business and especially in trading. I consider this book a noteworthy discovery for my own trading business. |
A additional Sales Pitch From Lou Mendelsohn
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| Review Date: May 18, 2006 |
| Assessor: Blunderbuss23, California |
If I had read the author's previous book, I wouldn't have bothered with this one. If I had read the reviews of that book, I probably would have skipped this one.
Assuming you accept the author's premise that intermarket analysis is something forex traders cannot do lacking, you might still have distress accepting the solution: Buy Mendelsohn's product, Vantage Point.
I went to the Vantage Point website. No price is given for the product, so I assume it costs a fortune. Maybe that's not so terrible if it's really picking 70%+ winners on a regular basis. Still, even if I were won over by the sales pitches on the site and in this book, for all I know, the hundreds or thousands of dollars I spent on the Vantage Point software might eat up most of my profits.
I give the book three stars because it held my interest and didn't cost too much. Of course, if you find the book truly worthless, then any price is too much. I give the book a mild recommendation, but if you don't read it, you won't miss much. |
Shameless sales pitch
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| Review Date: July 13, 2007 |
| Assessor: ForexGuy, |
| Save your money, this notes is a sales pitch for an pricey software. Gosh, don't you despise those "please-read-my-notes-and-buy-my-software-please-please-please" books? |
Don't bother buying this book
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| Review Date: September 22, 2009 |
| Assessor: Bentleigh Tadman, |
| If you know nothing at all and I mean nothing about fx or trading in general, this book will give a very vague non useful description of some of the basics. Has no useful information about intermarket analysis and only 12 useless pages with useless diagrams half filling those pages about it. He does promote his own product for a full chapter though, spends more time on that than intermarket analysis. glad I bought that book NOT. |
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