This book is not telling you how can you win, it is telling you why you CANNOT win.
Actually, it is possible for retail traders to win in forex market, if they have sophisticated skills and connections like the hedge fund guys. But 99.9% of them don't. Trading is like betting in casino, sure maybe 1000 people there is 1 winner, who is an extremely sophisticated professional poker. But can an average person learn to be the winner?
This book reveals how retail traders are in a very disadvantaged position, and why good basis of technical analysis, macroeconomic analysis, trading strategies, risk management, any tools you can think of, are unlikely to help you succeed in the forex market. The tools would be explained why they are inadequate, since they do not give you an edge. And you must have an edge to beat the market.
This book also shows the recent years of the development of forex market. For example, why the market become more efficient and some of the trading methods do not work anymore. Why both short term and long term trading do not work. Why setting a sensible stop loss is so difficult. etc.
Unlike many "trading experts" who sell you dreams, who tell you can trade for living with your pajamas. There are tons of books that teach you "simple winning strategies", and received 5 stars reviews. There so many naive people! I would show you the real odds for a trader to earn consistent profit with some industry statistical data.
At the end of the book, I would discuss trading in a personal finance perspective and life perspective. Alternatives for normal people like us to accumulate wealth would also be discussed. So after you finish this book, you can decide, if it is worth to stay with trading, or find other alternatives.
This book is mainly about forex market, but its principle can apply in most financial market. This book not useful for sophisticated traders who gain consistent return of many years. But if you are not these people, you should get this book.
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