Beat the Odds in Forex Trading by Igor Toshchakov

Beat the Odds in Forex Trading is written by the prominent Forex trader Igor Toshchakov, who is better known under his nickname L.A Igrok and the similarly named trading method by his authorship. The presented book is dedicated to detecting and benefiting from the high-percentage currency market patterns. The proposed method employs the short-term technical analysis and the special money management techniques. Upon introducing the basics of the method developed by him, Igor proceeds to the actual systems and strategies that can use this method as the basement for their rules. The offered short-term and intraday strategies are thoroughly described with all the applicable rules and conditions — both for entries and exits. In the final chapter of the book, the author gives out some templates that can help with the proposed technical trading systems.

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Below you can read the reviews of the book and also submit your own review about Beat the Odds in Forex Trading by Igor Toshchakov.

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5 Review

  1. Todd:

    This book is hard to read thanks to the hard to understand English, though the methods discussed in this work are quite common. I was anticipating extra trade administration and RRR things in this manuscript from the name “Beat the odds”, though not a bit of this stuff emerge in the book.

    The final piece of the book is relevant to Forex. It provides different methods that are based on market volume during differing time periods. This book is better than most of the other Forex trading books on the market today, which only provide you with rudimentary information.

  2. Harry Fortune:

    If you want a great book on Forex, keep looking, because this certainly isn’t it. The methods and strategies in this book just are not sound, and the English used in it is poor as well.

    I may not be an expert, you won’t catch me wasting any money on something like the Igork Method. I tried it out once and ruined 4 practice accounts, and finally had to call it quits.

    There is a bit of decent information in this book, but it’s hard to get to, even if you’ve always spoken English and are a native speaker of the language.

    There are much better books about the Forex market than this one, but I’m going to be impartial and not mention any titles or authors here, but rest assured that this is not the book for you, nor for anyone who wants real information about Forex.

  3. Dex:

    Most of the times, after I’ve read a certain book, I make it a point to resell it; but once in awhile I’ll find a book that I’ll keep for reference. “Beat the Odds in Forex Trading” has made it into my small reference library.

    The approach to this method is surprisingly simple and it may astonish you; it’s all about support/resistance and some traditional chart patterns that have shown themselves to be predictable. He touches bases with trading news, leverage, and also the advice given is sensible and down to earth, from what I’ve seen and learned from other resources.

  4. Passa:

    I may concur with other discussions about the characteristic writing style, this book is more than worth it for those wanting to get into a successful trading method for Forex. To be honest, it’s even worth it to reread this book due to its valuable insights about Forex trading; though remember that this is not a manual for beginners.

    Remember that psychological factors are extremely important in Forex trading; though I’m inclined to think the value action oriented, small risk strategies contained within this book are viable for trading Forex. If you fancy yourself the complete trader (I would also recommend Mark Douglas, Van Thorpe, and Alexander Elder), the Igrok method has a solid basis for a trading method, much more so than multitudes of constantly on the move averages and oscillations on a fifteen minute chart.

  5. firremile:

    There are some bad things and they are:
    The book isn’t written that clearly, and could be a bit shorter, even though it’s 200 pages long. A chapter called “Choose The Right Dealer”, the writer describes that five pips is the normal spread for some liquid pairs, and that European Dealers only are to be trusted. Nearing the end of a chapter entitled “Recent Industry Developments”, the author says that spreads are lower, and that dealers in the Unites States are okay to use as well. This may be a rehash of older writings with a few new odds and ends added on.

    I feel that the author is proud of his mode of trading and his technique, things that he believes to be new; so he may not realize that he is indeed not new with his methods…maybe even dated by two decades. A day to day range is usually utilized to measure the extent of any intraday shift – channels, breaks from base, trendlines, and others have been in use for ages too. Called springs or even upthrusts, these are other names for false breakouts. Even being shown is a variant on the open range breakout.

    Many things the author thinks of as unique (even discretionary trading) are not new at all…it all equals out to formulating your plan.
    The author says he’s made some sort of new discovery; trendlines will be broken soon, something wonky like that. This reminds me of someone who names every little thing TD something.

    The author will talk about probabilities a great deal, but won’t give numbers and won’t say if he’s even used the scientific method to make whatever conclusions he’s coming to about these probabilities.

    And on to the good:

    Whatever else may be said, the book actually contains some good information that a decent trader would be able to use, even though none of the information is actually new…though it could be new to you if you haven’t read that many books on trading. A beginner trader should be able to gain a lot of knowledge from this particular text. Even if they aren’t new techniques, I still enjoyed the formation of the templates.

    Though I find it sad that this book wasn’t well written, if it were – it would have been a lot better, because there is real potential there.

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