Forex Patterns and Probabilities by Ed Ponsi
16th March 2008, 05:02 pm
Forex Patterns and Probabilities explains the trading strategies for trending and range-bound markets, one of which Forex is, according to the author of this Forex book, Ed Ponsi. The book starts of with the basic explanations of what the Forex market is, its unique features and its similarities with the other financial markets. The main two parts of this book explain how to trade successfully on the trending Forex market and during the nontrending periods on the market. The final part can be considered the most interesting one (especially if you are already fluent in Forex technical analysis and other must-learn entities of the trading); it share Ponsi’s little secrets of the professional trading and teaches on how to behave in the various extraordinary situations that can happen to a Forex trader. This Forex book also features a glossary of the currency trading terms, but it’s so small that it doesn’t carry any special interest in it.
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You can also read a review of Ed Ponsi’s “Forex Patterns and Probabilities”.
Pivot points are one of the greatest tools of Forex technical analysis. I recommend using pivot point calculator to find out all sorts of pivot levels — including Tom DeMark’s, Woodie’s, Camarilla, etc.
List other books by Ed Ponsi.
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Below you can read the reviews of the book and also submit your own review about Forex Patterns and Probabilities by Ed Ponsi.
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Dominick:
I would say that I don’t know how useful the study of strategies in this book is but the way it is put forth is very beneficial for people who are either beginners or who are unclear with the strategies they are following. The writer has awesome foresight which gives great information on action of price and even various indicator of the market, which can be easily applied.
3 November 2010, 4:32 amHe provides really nice information on management of accounts and even growth He presents the idea that a bigger scale trading is the best and even gives explanation for his theory. The explanation is very clear and precise. SL and TP have ever been taught so well before
The book is lined with humor which is a definite plus point> he has also written some awesome topics on Forex. This is such a big deal because it is hard to find writers who actually know about Forex and write about it.
This book is not a get rich scheme method. If that’s what you are looking for, try lottery tickets.
Steve:
Ed’s book had a lot of information but this is the same information I could have got for free from over a hundred websites. There were a few added ideas which I must say were very helpful. I think that even $30 is not worth the information you get in the book but at least it would not have sounded ok. At above $50, you just feel really bad for having spent that much. This book has poor discussions accompanied with hoards of graphs. I also o not recommend trying his videos which he sells at $300, I haven’t seen them but I am sure that they ust not be worth anything.
3 November 2010, 4:32 amThis means that if you want information all you need to do is a Google search. DO NOT waste your money.
John:
Ed Ponsi says that out of each of the dozens books that he has read, each has only a morsel of reality and the rest is just mere shim and he said that if he ever would write a book, he’d see to it that he does t do that. Ed certainly did not take his own words seriously because that’s exactly what he’s written. Now the whole book is not that bad and does come up with some gems of ideas but those gems don’t make the book worth the price.
3 November 2010, 4:33 amIf you are looking for a better book than his on the subject of Forex, Currency Trading for Dummies is the book you are looking for. Ed skims through the concept of evaluation of techniques but the other book actually helps you with understanding these concepts along with more. Ed calls a beginner “triple threat trader” but does not give the beginner that kind of a start with his book.
It is only an indication about the interest of the writer if he gives references and further reads at the end of the book. Ed totally skips that mentioning a few books through the read. However Currency Trading for Dummies has suggested reads which are really helpful.
The reason I think Ed got all those good reviews is because he is a very likeable person and does have knowledge too. The only problem is that he’s not been doing a good job of showing that side.
Mystic:
It is in very rare cases that one will find that success has come to someone who has not put in any hard work. Same is the case with Forex. For those who get into forex thinking that it is easy money, here is some news. This line of business is not s easy as you think it is. Like all fields, it reuires, dedication and hard work to make it work. You will have to invest time making as mny demo accounts as you can so that you can get aa bit off experience, you will also have to take classes to learn about everything that you can. Reading highly recommended books by malkil, Liverore etc tops the list of Must-do’s.
3 November 2010, 4:33 amIf you need a Bible on trading pick this book by Ed Ponsi. It will give you exactly what you need. Read it over and over again. The book’s name is “FOREX Patterns and Probabilities”.
Illustrations given in his book are very simple which makes the book very objective. No matter what level of a trader one is, they sure will see the advantages after reading it.
Forex-Man:
Ed is a terrific trader. I love the way he is able t make a lot of money using his strategies. He also gives information on the most important aspect of trading – entry and exit. As a forex trader myself, I can say that I have tried his methods and it sure did work for me. His book is a Must read for those who seriously want into this field.
3 November 2010, 4:33 am