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While most books on trading deal with general concepts and shy away from specifics, Forex Patterns and Probabilities provides you with real-world strategies and a rare sense of clarity about the specific mechanics of currency trading. Leading trading educator Ed Ponsi will explain the driving forces in the currency markets and will provide strategies to enter, exit, and manage successful trades. Dozens of chart examples and explanations will guide you each step of the way and allow the reader to look over the shoulder of a professional trader hard at work at his craft.
This book provides traders with step-by-step methodologies that are based on real market tendencies. The strategies in this book are presented clearly and in detail, so that anyone who wishes to can learn how to trade like a professional. It is written in a style that is easy to understand, so that the reader can quickly learn and use the techniques provided. more info
{ 25 comments… read them below or add one }
Could be better
Rating:2 out of 5 stars
Ed Ponsi said at the begining of his book that he had read dozens of trading books and each had a kernel of truth surrounded by filler. He also said that if he wrote a book, it wouldn’t be like that. Unfortunately he goofed. He wrote a book exactly like that. There are a few steller nuggets of wisdom, but they aren’t worth the price of the book.
Currency Trading for Dummies is a far superior introduction to forex than Ed Ponsi’s book. Ed Ponsi focuses on technical analysis (just barely) while the dummy book actually introduces you to both fundamental and technical analysys as well as money management. A much better start at becoming what Ed Ponsi calls a “triple threat trader”.
Plus the dummy book has suggested reading at the end for further study, while Ed Ponsi only mentions one other book in the middle of one chapter. Suggested reading, bibliographies, and end notes are very important indicators on how serious the author is about his or her subject.
Ed Ponsi sounds like a nice guy, and a knowledgable guy at that. I think that is why there are so many positive reviews. But Ed Ponsi’s book just doesn’t cut the mustard.
Worth every penny
Rating:5 out of 5 stars
Gives you a unique perspective of trading. Large parts of it can apply generally to all trading. Clearly explains the difference between trading Forex and other instruments such as stocks. Couldn’t put it down once I started reading.
An Absolutely No Nonsense Forex Book!!!
Rating:5 out of 5 stars
Many Forex books fall short, deliver little, and they address currency trading in a general manner. Well, this book is different from the rest. It is very well written. The quality and clarity of the information contained in this book is quite remarkable. There is no fluff in it. It contains clearly presented strategies (trade set-ups) you can use to trade right away. This Forex book is outstanding – no hype, no nonsense in it. Thank you Ed.
Best Forex Book On The Market!
Rating:5 out of 5 stars
I have read nearly every fx book printed over the past five years and without question, Forex Patterns and Probabilities is miles beyond the rest. The book features clear descriptions of strategies with exact entry and exit points, not the general stuff found in most books. The book is not a sales pitch for a chat room or for trading software, just good trading strategies and useful information. You’ll find that it’s not only useful, it is entertaining and funny as well, a well written good read. There are more good strategies in this book than in all the other fx books combined, so if you are serious about making money in fx this is the one book you have to read.
Making Money in Your Underwear
Rating:4 out of 5 stars
This book came highly recommended here on Amazon. I have already recommended it to my brother who is also an investor (he’s in stocks). He has wanted to learn Forex but didn’t know where to start. This book takes a dry subject and makes it easy to understand. I wish I had read this book prior to my first few trades and I might have saved some money. Since reading Forex: Patterns and Probabilities, I have made huge gains in my success. In the book, Ed Ponsi states you should be happy with a 6 to 12% gain each month (which is lot more than you will get almost anywhere else legally), but this month has been exceptional (May). I really lucked out. However, I am content to step back and continue to make 10-12% a month (not a year,… a month) on my money. Its a no brainer and well worth the $50 or so for the book. I use it for reference regularly.
A Must Read, Best Trading Book Out There
Rating:5 out of 5 stars
This book is a must read. I have read all of the other reviews on here but none of them really convey the tremendous quality and help that Ed Ponsi’s book provides. I have finally become a successful professional trader, and I have to say that this book helped me more than anything else. Ed Ponsi gives strategies that make sense and very clear instructions for using them. All of the doubt has been removed from my trading, thanks to the objective rules based systems like the FXED Trend, which is my favorite. Not only that but the book is filled with little distinctions that may seem minor on the surface, but can mean the difference between defeat and success.
Just as important as the great trading techniques are the explanations why they make so much sense. This book cuts through the nonsense, and if you understand what Ed is saying then you realize that much of the other stuff that is out there is pretty useless. Maybe obsolete is a better word, now that this book is out there the bar has been raised and hopefully the quality of other books in this genre will pick up the pace. Read this book!
This is the Best book about how to trade forex
Rating:4 out of 5 stars
I just review this quick and simple, it’s a great book about forex, covers everything and have a solid technical on how to trade forex , how to entry, exit and even trailing profit, solid money management and psikology too, it seems Ed knows exactly what he is doing.
Book didn’t really help me at all.
Rating:3 out of 5 stars
I applied the authors strategies and I lost money. I went back to my old ways and made money. If your way is not broken then why try something else?
Way overpriced for what you get
Rating:3 out of 5 stars
The information in Ed’s book is actually fairly good. However, I learned most of it – often in better detail and made clearer – on freely available websites. I did pick up a few additional ideas, which is always beneficial. If he had charged $30 for this book, it still would have been overpriced, but at least reasonable. But, at $50+ you are NOT getting what you pay for. For the price, you should be getting a lot of new information in ways you never considered. This is just a series of low-level discussions with a lot of graphs. He also sells videos for $300 (which I’ve not seen), but I bet they aren’t anything better than you get for free elsewhere.
Conclusion: Save your cash for your trading and do a quick Google search on forex and take advantage of all the free information.
Simply excellent
Rating:5 out of 5 stars
I read many trading related books over the last 5 years and I mean to absolutely score this book with 5 stars. It’s simply excellent! The author uses a very simple and familiar explanation scheme to descibe some simple yet effective strategies to profit in the forex market in practically any time frame. He also explains the underlying psychological factors which cause certain patterns to develop, creating the so called “tendencies” that, once understood, may be fully exploited to cash in some good profits. I really like Ed Ponsi because he wants to make you understand that great targets can be achieved through simple and linear reasoning and through hard work (which trading should be supposed to be), leaving too complex strategies to other market actors. Reading this book you will realize that Ed ponsi is a real genius in his total genuinity and simplicity.
Book for beginner
Rating:2 out of 5 stars
Book providing an overview of the forex market and some simple strategies. A book for beginners. If you have read other similar books, give this one a skip.
Outstanding Forex Trading Book
Rating:5 out of 5 stars
I would give this book ten stars if I could. This book is the single most helpful tool that a forex trader can have, period. I have spend thousands on courses, wasted hours in chat rooms, and read most of the books out there on Forex trading. For some reason, none of the other educators and authors out there can lay out a specific trading plan, yet that is exactly what author Ed Ponsi offers. After reading this book, I finally have a plan and some great strategies, and I understand how to trade – and I can also see that some of the people I was “learning” from haven’t got a clue! This is not only the best book on forex, it is the best trading book I have ever read, period!
Outstanding book on the subject.
Rating:5 out of 5 stars
FOREX trading, like all trading, is no cake-walk, as any experienced trader well knows! As any serious student soon finds out! Success only comes with serious study, practice and perseverance. In the business of FOREX trading that means; taking courses (more than two or three), burning up a truckload of the “demo” accounts and reading a number books on the subject of FOREX trading, as well as trading in general, including the classics; Livermore, LeFevre, Malkiel, etc.
Ed Ponsi’s book may well become one of the gospels on trading! It should be required reading by anyone just starting, or wanting to improve his or her skills at FOREX trading.
Read FOREX Patterns and Probabilities by Ed Ponsi and then go back and read it again! Study this book, if you’re serious about FOREX trading.
His very clear writing and easy to understand examples should make this book a classic among practical trading books. The beginner as well as the advanced student or experienced trader will benefit from reading “FOREX Patterns and Probabilites”, by Ed Ponsi. Thanks.
Patterns and Probabilities
Rating:4 out of 5 stars
Ed Ponsi’s explanation of trading strategies for trending and range bound markets is a well written publication. Although one would not expect him to demonstrate everything that is needed to be known on this subject what he does cover is certainly drawn from his past experience and as such extremely informative. Bottom line is though if you are new to forex it is a must read especially since the potential pitfalls of the trade are definitely well highlighted.
Great Forex Book
Rating:5 out of 5 stars
If you really seriously want to trade Forex you must read this book first. I like the way ED trade. I know he really make big money with all the strategies. The best thing you can learn how to enter, exit and stop on the right place. ED give the real view as a forex trader. All what he write is true because I’m the forex trader and from this book I learn what I did wrong and what I did right!
Excellent Entry Point for a New Trader
Rating:5 out of 5 stars
This book is packed with lots of information for a new trader like me. I wish this was the first book I bought about forex trading.
forex patterns and probabilities
Rating:5 out of 5 stars
I found this book very useful. It was what I wanted & needed to know. i have purchased many books but this book explains things that a trader should know in easy to understang form
Great beginner book
Rating:5 out of 5 stars
I am new to Forex. Ed Ponsi has made this an easy to understand topic and also made it easy to start trading. My first trade (in a practice account) netted $3500 dollars while risking $7000. Truly an easy to read book that let’s you look over the shoulder of a professional trader. I have never reviewed a book but felt compelled after reading this one.
great book
Rating:4 out of 5 stars
great book but i think it’s a little too expensive. it’s a big help to anyone wanting to better their trading skills.
Absolutely Brilliant!!
Rating:5 out of 5 stars
What a great book on trading, by far the best I’ve read on Forex (and I’ve read most of them). The book begins with an overview of Forex, but doesn’t get bogged down in minutiae – instead, the author lays out the groundwork and explains what he calls the “playing field” of Forex. Then, he shifts into high gear, blasting out one fully developed strategy after another. Entire chapters are devoted to individual strategies for ways to trade trending markets, and there is no filler or wasted time. Once he has taught us several strategies to take advantage of trending markets, then he teaches tactics for those times when the market is not trending – including my personal favorite, “The Boomerang”, which is designed to fade moves at certain times of day. It’s all incredibly clean and logical, and practical – this is stuff you can actually use! This book is absolutely brilliant and deserving of all the praise it receives.
Essential Forex Reading
Rating:5 out of 5 stars
Echoing many other reviews for Ed Ponsi’s well-written and informative work, Forex Patterns & Probabilities is essential reading for anyone interested in the foreign exchange market. As he states in the first chapter, Ponsi’s goal was to cut through the filler that plagues most Forex books and provide readers with proven, clearly defined strategies that work. Not only does he succeed in this, but he presents the material in such a way that anyone can understand and learn from. For example, anyone who is familiar with the history of trading should be familiar with the successes of trend followers such as John W. Henry and Ed Seykota, but while most books preach the “trend is your friend” mantra, few show where to enter in a trend and how to place stops and targets like this one. It helps you to think like the “big money”, the banks and hedge funds that make up the “10%” of winning forex traders.
Having read many other books on currency trading, I was pleased he did not waste much ink on the “Basics of Forex”. There are plenty of other books and websites that give one all the generic stats and definitions. As someone who is familiar with the market, I wanted to go beyond the basics and learn actual strategies of a proven winner. I was not disappointed, and actually made back the cost of the book yesterday using features of his trend following techniques. It is by no means a “Holy Grail”, but I believe I will receive a great return on my investment in this book.
Forex Patterns & Probabilities
Rating:4 out of 5 stars
Excellent book which everyone who is new to forex trading should read and backtest strategies discussed by the author.
Excellent, Serious Work on Forex Trading
Rating:5 out of 5 stars
The author is spot on with his observations of market tendencies and his methods to exploit those tendencies. This is an excellent strategy book with workable techniques, I actually modified two of the strategies and made them even better. Ed Ponsi’s book put me on to something I hadn’t considered with the FXEd strategy, I’ve also applied this to other markets and time frames and it can really make a difference in your P&L statement. This is the type of stuff professional traders actually use, it doesn’t usually make its way down to the retail level. Excellent.
Clearly written and it truly teaches!
Rating:5 out of 5 stars
I have been following Ed Ponsi for a while and the book has really helped me put the methods into practice. The book is well written and a pretty quick read.
The trading plans make it easier to create a discipline to follow. Although I must still battle my occasional desire to input some of my emotional guesses into a trade, which rarely work. Like Ed points out in the book you are not going to win every trade, you may even have a string of losses, but with risk management your losses are small and easier to absorb. Subsequently, the winners do run very well and absorb those nagging little losses. That has been my biggest improvement is the risk management!!! It has allowed me to win, by placing trades confidently and no sweating every little move. CONFIDENT and CLEAR THINKING!
Jose H, South Florida
BJ, New York
Rating:5 out of 5 stars
If you are new in forex trading and want to learn trading then this book will put you on right track and direction. i have been strugling in forex trading for more than a year and after reading this book i could correct many mistakes and cut losses. reducing losses is another way is increasing profit. Good Luck.