Survive and Prosper in the Great Depression of 2009 2012 A Step By Step Guide to Amassing a Fortune Trading Foreign Currencies
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 Good bargain
I am on ongoing search for good FX books and I got to admit that Mr. Glenellis guide stands out.
It provides glimpse of what really is important when trading: plan, system and discipline. Although the author spares us technicalities of FX and the usual stuff in FX introductory books (history of FX, detailed FX markets structure etc.), he provides the base that an inspiring FX trader can use for building his success.
I fully recommend it to beginners and intermediate FX traders.
1 Star Amateurish, Untested and Risky
I bought the online version of this guy’s book last year, and joined his so-called “Trade Call List”. I paid $97 for this and all it ended up doing for me was make me lose $300 trading currencies.
His strategies are absurd and his suggestions are amateurish at best. Not only will you NOT get rich following what’s written down in this book, but you will most likely lose every penny you spend trying to implement his advice.
The strategies range from being vague and complicated and highly-discretionary, to being outright wrong and having no chance of ever working. The impression I got after more research was that he borrows bits and pieces of tactics from different places, information that has been around for a long time and puts them together as “his” strategy, without ever giving the complete picture. He always leaves out some important information that makes long-term success elusive.
As an example, the strategy involving the GBP/JPY breakout. This doesn’t appear to work in the long term. If you trade it the way he suggests, trading every single breakout every single night, you might make some gains, but you will more likely end up giving back all or most of these gains, especially if you use a 1:1 reward-to-risk ratio.
I say this because this is what happened to me. This is how I lost $300 trading currencies. The only way this might work is if you use a 2:1 reward-risk ratio, using 100 pips as your profit target, and 50 pips as your stoploss, and move your stoploss to breakeven after you gained 50 pips. If the market was willing to give you that on a consistent basis, this strategy might work.
But, even then, you have to be prepared for some severe drawdown months, especially in the summer(low-volume) months from June to August. The months I tried it in were July and August of last year, and I just kept having loss after loss after loss. The few wins I had were not enough to make up for the losses, and I ended up blowing through my entire account.
Another way it might work is if you were somehow able to predict how far your winners would go, and then “let these winners run”, as the saying goes.
Jeff said nothing about the risky summer months in advance. He only mentioned it after the fact, to subscribers of his “trade call” list. He also said nothing about the risk of drawdowns.
I have since read that it is better not to trade breakouts alone, in and of themselves. You should only trade breakouts which have a bias to them, bias meaning a pre-existing trend, and this trend should be of a certain strength. Not all trends are created equal. Not only that, but the channel that you are trading the breakout from has to be a certain size and a certain shape- the smaller and more narrow it is the better.
He says nothing about this in his book. I had to discover it on my own, after losing $300 following his advice.
After being on his list for awhile, I have discovered that he tries out different strategies in a haphazard fashion, all of which are highly untested, and all of which seem to lose money in the long-term. I haven’t made a dime following any of his recommendations.
The only good thing I can say is that I have gotten a few good ideas here and there from his book and list, ideas which were only mildly interesting and only somewhat helpful.
As far as making a million dollars in four years following his advice, it hasn’t happened to me and I doubt it will happen to you. This is what’s known as “hype”. My advice would be to take his book with a huge grain of salt.
At the very least, practice the strategies on a demo account for at least 3 months, before committing real money to them. Be certain that you ended the 3 months in profit. And, even then, be sure not to over-leverage yourself. From my experience I would suggest that you prepare for the worst-case scenario, and make sure that worst-case scenario would only wipe out a quarter(one-fourth) of your account. Even less than a quarter would be preferable.
The worst-case scenario, in my opinion, is losing 4 times in a row, 4 consecutive losses. You should make sure that losing 4 times in a row will only wipe out a quarter(one-fourth) of your total account balance. If you then lose again on the fifth try, reduce your trading size to one-half of what it was. Then try 10 more times. If you lose 10 more times in a row, stop trading for the month. Either try a new strategy or wait until another month and try again.
I think the following items are worth looking at:
The London Rush System.
My advice with this is to trade the first one that breaks out, when more than one is giving a signal. Use a 100-pip profit target and a 50-pip stoploss. Move your stoploss to breakeven when you’ve gained 50 pips. Make sure to use the included MT4 indicators and template. Also, I would stay away from a currency whose spread is more than 15 pips. I’ve been making a consistent 400 pips a month with this so far. MIG is the best MT4 broker to use with this because they carry all of the GBP-crosses, and they let you use their MT4 demo for free.
Forex Deal Butler
This one is really expensive, but it seems to be really good for daytrading. However, I have not yet tested it myself.
Solomon FX
They have tons of strategies which are apparently well-tested.
You can find these items by looking them up on Google or Clickbank.
4 Stars A good Manual with simple strategies
Good Morning
This book could be a good starting point for people aiming to trade in the forex markets and are looking for advise from some one who claims to be a full time trader. It is explained in a very simplistic manner and straight to the point in most of the cases. It covers 5 strategies and in only one of them shows the results during a month in a half of trading such strategy. Other than his results, It is the psicology behind trading during such period that is very important, because back testing a system can be a little complicated from the mathematical point of view and trying to get objetive conclusions it is too. But it is easy to follow back testing because there is no strees at all involved during loosing periods, nor the real life to deal with, while trading that we the “normal and functional” human beings have to live trough. So the author share with the lector such moments and give us good thougts to continue trading.
Also he talks about turning $1000 usd into $1,000,000 usd in less than 32 months with good money management. I think this aproach is partially the correct one for traders, because aims to create equity rather than creating monthly or daily cash flow from a very skinny account, which most traders had tried once at least once (me included). If you focus first to protect your account and make it grow enough then you will probably enjoy the benefits of becoming a full time trader. But this is a bussines and because of that you should not take money from it during the first years until the bussines has grown enough to pay you back.
What I dissagree a little bit is his money management rules for his plan, because only consider winning trades, which as he said there are three things that may happen while in a position and two of them are good and one is bad. One can win, the other may break even and the third may loose, but with intelligent money management you could avoid loosing your entire equity in your account. As Warren Buffet says: “If you want to finish in first place in a race, first make sure you finish the race”
None of its methods suits for me and not because they are bad at all, but I took part of one that is trading break out range for the GBB / GPY and adapted for the GBP / USD for break out during Australia and Asia Session, because fits better my biological clock here in America, and in back testing (the easy part) seems to give nice profits with a steady manner (200 to 300 pips per month), but as Glenellis says in this book. “No one wins all the time…. Not even me…”
If you are curious and want to know about this system, don’t hesitate to send me an email to:[...] I will be glad to show it, so feed back can make it better.
Best regards
Alejandro Reyes Buitron
5 Stars An absolute must
After so far reading a handful of books on the subject this has to be the `icing on the cake’. Although I do need to mention it is not for the total novice but more so those who have a more intermediate knowledge on the subject, however I believe it an a must read for all serious traders. Definitely no fluff here, this is real getting down to business and rolling the sleeves up material. Jeff’s trading techniques are a gold mine as long as they are adhered to. An arsenal of trading strategies which could well serve as the cornerstone of any serious trader. With good reviews already to back it up the title of the book clinched the deal for me. I for one am glad I did : )
5 Stars thorough and specific
I enjoyed reading the book and the author seems to be very sincere about trying his best to help any would-be currency trader. I haven’t yet tried his systems, but I’m convinced if you follow his advice faithfully you can make some money.
Survive and Prosper in the Great Depression of 2009 2012 A Step By Step Guide to Amassing a Fortune Trading Foreign Currencies
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 Good bargain
I am on ongoing search for good FX books and I got to admit that Mr. Glenellis guide stands out.
It provides glimpse of what really is important when trading: plan, system and discipline. Although the author spares us technicalities of FX and the usual stuff in FX introductory books (history of FX, detailed FX markets structure etc.), he provides the base that an inspiring FX trader can use for building his success.
I fully recommend it to beginners and intermediate FX traders.
1 Star Amateurish, Untested and Risky
I bought the online version of this guy’s book last year, and joined his so-called “Trade Call List”. I paid $97 for this and all it ended up doing for me was make me lose $300 trading currencies.
His strategies are absurd and his suggestions are amateurish at best. Not only will you NOT get rich following what’s written down in this book, but you will most likely lose every penny you spend trying to implement his advice.
The strategies range from being vague and complicated and highly-discretionary, to being outright wrong and having no chance of ever working. The impression I got after more research was that he borrows bits and pieces of tactics from different places, information that has been around for a long time and puts them together as “his” strategy, without ever giving the complete picture. He always leaves out some important information that makes long-term success elusive.
As an example, the strategy involving the GBP/JPY breakout. This doesn’t appear to work in the long term. If you trade it the way he suggests, trading every single breakout every single night, you might make some gains, but you will more likely end up giving back all or most of these gains, especially if you use a 1:1 reward-to-risk ratio.
I say this because this is what happened to me. This is how I lost $300 trading currencies. The only way this might work is if you use a 2:1 reward-risk ratio, using 100 pips as your profit target, and 50 pips as your stoploss, and move your stoploss to breakeven after you gained 50 pips. If the market was willing to give you that on a consistent basis, this strategy might work.
But, even then, you have to be prepared for some severe drawdown months, especially in the summer(low-volume) months from June to August. The months I tried it in were July and August of last year, and I just kept having loss after loss after loss. The few wins I had were not enough to make up for the losses, and I ended up blowing through my entire account.
Another way it might work is if you were somehow able to predict how far your winners would go, and then “let these winners run”, as the saying goes.
Jeff said nothing about the risky summer months in advance. He only mentioned it after the fact, to subscribers of his “trade call” list. He also said nothing about the risk of drawdowns.
I have since read that it is better not to trade breakouts alone, in and of themselves. You should only trade breakouts which have a bias to them, bias meaning a pre-existing trend, and this trend should be of a certain strength. Not all trends are created equal. Not only that, but the channel that you are trading the breakout from has to be a certain size and a certain shape- the smaller and more narrow it is the better.
He says nothing about this in his book. I had to discover it on my own, after losing $300 following his advice.
After being on his list for awhile, I have discovered that he tries out different strategies in a haphazard fashion, all of which are highly untested, and all of which seem to lose money in the long-term. I haven’t made a dime following any of his recommendations.
The only good thing I can say is that I have gotten a few good ideas here and there from his book and list, ideas which were only mildly interesting and only somewhat helpful.
As far as making a million dollars in four years following his advice, it hasn’t happened to me and I doubt it will happen to you. This is what’s known as “hype”. My advice would be to take his book with a huge grain of salt.
At the very least, practice the strategies on a demo account for at least 3 months, before committing real money to them. Be certain that you ended the 3 months in profit. And, even then, be sure not to over-leverage yourself. From my experience I would suggest that you prepare for the worst-case scenario, and make sure that worst-case scenario would only wipe out a quarter(one-fourth) of your account. Even less than a quarter would be preferable.
The worst-case scenario, in my opinion, is losing 4 times in a row, 4 consecutive losses. You should make sure that losing 4 times in a row will only wipe out a quarter(one-fourth) of your total account balance. If you then lose again on the fifth try, reduce your trading size to one-half of what it was. Then try 10 more times. If you lose 10 more times in a row, stop trading for the month. Either try a new strategy or wait until another month and try again.
I think the following items are worth looking at:
The London Rush System.
My advice with this is to trade the first one that breaks out, when more than one is giving a signal. Use a 100-pip profit target and a 50-pip stoploss. Move your stoploss to breakeven when you’ve gained 50 pips. Make sure to use the included MT4 indicators and template. Also, I would stay away from a currency whose spread is more than 15 pips. I’ve been making a consistent 400 pips a month with this so far. MIG is the best MT4 broker to use with this because they carry all of the GBP-crosses, and they let you use their MT4 demo for free.
Forex Deal Butler
This one is really expensive, but it seems to be really good for daytrading. However, I have not yet tested it myself.
Solomon FX
They have tons of strategies which are apparently well-tested.
You can find these items by looking them up on Google or Clickbank.
4 Stars A good Manual with simple strategies
Good Morning
This book could be a good starting point for people aiming to trade in the forex markets and are looking for advise from some one who claims to be a full time trader. It is explained in a very simplistic manner and straight to the point in most of the cases. It covers 5 strategies and in only one of them shows the results during a month in a half of trading such strategy. Other than his results, It is the psicology behind trading during such period that is very important, because back testing a system can be a little complicated from the mathematical point of view and trying to get objetive conclusions it is too. But it is easy to follow back testing because there is no strees at all involved during loosing periods, nor the real life to deal with, while trading that we the “normal and functional” human beings have to live trough. So the author share with the lector such moments and give us good thougts to continue trading.
Also he talks about turning $1000 usd into $1,000,000 usd in less than 32 months with good money management. I think this aproach is partially the correct one for traders, because aims to create equity rather than creating monthly or daily cash flow from a very skinny account, which most traders had tried once at least once (me included). If you focus first to protect your account and make it grow enough then you will probably enjoy the benefits of becoming a full time trader. But this is a bussines and because of that you should not take money from it during the first years until the bussines has grown enough to pay you back.
What I dissagree a little bit is his money management rules for his plan, because only consider winning trades, which as he said there are three things that may happen while in a position and two of them are good and one is bad. One can win, the other may break even and the third may loose, but with intelligent money management you could avoid loosing your entire equity in your account. As Warren Buffet says: “If you want to finish in first place in a race, first make sure you finish the race”
None of its methods suits for me and not because they are bad at all, but I took part of one that is trading break out range for the GBB / GPY and adapted for the GBP / USD for break out during Australia and Asia Session, because fits better my biological clock here in America, and in back testing (the easy part) seems to give nice profits with a steady manner (200 to 300 pips per month), but as Glenellis says in this book. “No one wins all the time…. Not even me…”
If you are curious and want to know about this system, don’t hesitate to send me an email to:[...] I will be glad to show it, so feed back can make it better.
Best regards
Alejandro Reyes Buitron
5 Stars An absolute must
After so far reading a handful of books on the subject this has to be the `icing on the cake’. Although I do need to mention it is not for the total novice but more so those who have a more intermediate knowledge on the subject, however I believe it an a must read for all serious traders. Definitely no fluff here, this is real getting down to business and rolling the sleeves up material. Jeff’s trading techniques are a gold mine as long as they are adhered to. An arsenal of trading strategies which could well serve as the cornerstone of any serious trader. With good reviews already to back it up the title of the book clinched the deal for me. I for one am glad I did : )
5 Stars thorough and specific
I enjoyed reading the book and the author seems to be very sincere about trying his best to help any would-be currency trader. I haven’t yet tried his systems, but I’m convinced if you follow his advice faithfully you can make some money.
Think and Grow Rich
Napoleon Hill was one of the earliest producers of the modern genre of personal-success literature. His most famous work, Think and Grow Rich, is one of the best-selling books of all time. Hill called his success teachings “”The Philosophy of Achievement”" and he considered freedom, democracy, capitalism, and harmony to be important contributing elements. For without these, Hill demonstrated throughout his writings, personal beliefs are not possible
Men At Work
It’s up to a pair of trash-hauling heroes to clean up the city in this action-comedy starring real-life brothers Charlie Sheen and Emilio Estevez. Garbage men James (Estevez) and Carl (Sheen) dream of opening a surf shop, but often land in hot water due to their practical jokes. When they discover the body of a murdered politician on their route, they attempt to sniff out the killer themselves a bad idea that rapidly ensnares them in a toxic waste scandal. Soon, they’re thrown headlong into a manic escapade involving a deranged veteran, an attractive campaign manager, a kidnapped pizza deliveryman and a greedy polluter who wants them hauledoff to a landfill for good!
User Ratings and Reviews
5 Stars MEN AT WORK
FUNNY MOVIE, SAW IT A FEW YEARS AGO FOR THE FIRST TIME AND WHEN I GOT THE DVD TO WATCH AGAIN, FOUND IT JUST AS MUCH FUN
5 Stars The Martin Sheen Boy’s
These two work so well together every movie they are in together is a great movie look at the young guns movies great actors.
5 Stars Waht do you get??
What do you get when you have two real life brothers that play brothers who are garbage men, who are under the authority of a deranged war veteran, a sexy advertiser, two uptight cops, a toxic waste tycoon, an innocent pizza boy, two b-rated killers and a dead politician? A heck of a movie that will make you laugh! You just have to see it.
5 Stars OMG, This is HYSTERICAL
We had never seen this movie, but my kids were telling us how funny it is. We watched it and were doubled over half the movie!! Of course now my kids have the movie to watch. It really is hysterical, and we are glad that we got it. As soon as we get it back from them, we will have to see it again.
5 Stars Men at work
Great movie. A true comedy done right, I would recommend this movie to any fan of the Late 80’s early 90’s. Very Very Funny.
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Survive and Prosper in the Great Depression of 2009 2012 A Step By Step Guide to Amassing a Fortune Trading Foreign CurrenciesSurvive and Prosper in the Great Depression of 2009 2012 A Step By Step Guide to Amassing a Fortune Trading Foreign Currencies ...
