Forex Patterns and Probabilities: Trading Strategies for Trending and Range-Bound Markets

If you have some experience trading, this book will be immensely helpful. I found more than a few good trading tactics in here. Sometimes we notice patterns on our own, and it’s good to have someone with experience like this confirm it.I believe study is the key to success in any endeavor. This book is easy to read and you will be amazed at the insight you will gain as to the internal workings of the forex markets. The author presents a variety of workable trading methods, I think it is important to decide on what method makes the most sense to your trading style. I would recommend the purchase of this book to any serious person who has decided to “pull the trigger” and start a future in trading.

This is an excellent book. All strategies are well delineated. Enough detail is provided. I was taking a long distance forex class which did not help. However, this book explained the strateges very well and I was making between 100 to 200 pips a month. The multiple time frame trading strategy and Fx-Ed technique are especially suited to my lifestyle. Excellent book highly recommended.

A book written by someone like Ed Ponsi, might be expected to bring more advanced and high-end techniques or know-how. A piece of writing which cannot be blamed for anything in particular, but the impression is: the book is telling me really nothing innovative or new. This is my book #6 on FX trading purchased recently from Sacred Traders, definitely the weakest one. Pick something else, instead.

It is important to disclose to the readers of this review that I have little experience trading Forex. I traded options and stocks successfully and profitably for several years, however trading Forex remained a mystery to me. What peaked my interest in trading Forex is the level of success some of my friends had doing it. As one of my trader friends explained, with stocks you have thousands of choices to weed through but with Forex choices are limited, which allows the trader a more thorough analysis of trade opportunities.
I picked up this book to learn the basics of Forex, and found it useful in that it covers the information in clearly defined separate sections. The first section covers the basic language of Forex trading in a manner relatable to trading stocks or options. Another section of the book lists the main trading strategies employed in Forex , in a similar manner that some option books list the available option trading strategies. This approach was very helpful to me in that it is similar to the way I learned to trade options. A third section of the book focuses on condition based strategies that are often used by hedge funds to trade unique market conditions. The last section focuses on psychology , but it was unique in that it concentrated on emulating successful traders rather than loss control, that many stock trading psychology books concentrate on.
One important fact about this book is that it contains a lot of charts, which to me is a positive, especially since the author uses these charts to explain implementable ideas that the reader can use. The author is also able to explain a complex highly technical subject in a reader friendly manner which is also positive.

Does what it’s supposed to.

Ed Ponsi was my forex instructor for a summer 2015 class with Online Trading Academy. He was an enjoyable classroom teacher, and only on the last day of class did he modestly mention in passing that he had written a book on forex strategies. It was not until a few months later, frustrated with stop losses in my demo account, that I bought his book and began to implement suggested strategies. What Ed didn’t tell our class is that he is a master chartist who frequently appears on CNBC, Mad Money, and other investment shows. His book has taught me how to use the ADX and EMAs to identify genuine trends; Fibonacci retracements to enter trending price moves and set targets/stops/exits (alone worth the price of the book); flags and pennants to set and enter trades; as well as many other strategies. He offers a nifty scalping strategy for the EURUSD (between close of the US market and open of the Asian market) that potentially can yield frequent profits, although lately that currency pair has been so range-bound that his suggested targets and stops need to be modified. In short, his book has turned my trading around, resulting in daily profitability and at least 30% fewer stop losses. Several older reviews complain about his conservatism and the fact that many of these strategies may not be new. In my mind, using tested strategies in a responsible way is precisely the main selling point of the book for the beginning trader. Successful trading is first about preventing losses and containing risk, and only second about making money. Profitability follows good risk management, and Ed understands this equation perfectly. His book can give any open-minded trader better understanding of risk and the technical tools and mindset to achieve profitability in forex trading.

Ponsi keeps it simple. That’s what I needed. Just keep it simple and nip your losses quickly. Sure, everyone says that, but Ponsi says it in a different way. And he’s a very profitable trader so what he says should be listened to.

Not sure if works