For the first time here at Made to Trade, we are featuring a review of a book. From time to time we will either review a product or book here which is related to trading and spread betting. The world of trading is a washed with resources that promise you insight into how to make money from financial markets. Here we hope to cut the truth from the bullshit and help you pick the resources that will be beneficial to your trading efforts.
Today the featured book Spread Betting the Forex Markets: An expert guide to spread betting the foreign exchange markets by David Jones. The book is written by David Jones who is in fact not a trader but rather a technical analyst who rose to prominence in the world of Forex. While a few may be put off by the fact the book is not written by someone who traded but rather an analyst, I feel this represents no problem. In fact being analyst probably gives you a broader base and better written skills which are key in writing a book. Also not to forget that analysts are the ones providing traders with information in order to make informed decisions.
David Jones should be commended for his efforts in writing the book. The book represents a very good introduction into both Spread Betting and its use in trading Forex. The book is clearly and concisely written so that anyone could pick it up and garner significant knowledge of the subject matter. It is in this area where the book really excels and makes it an excellent buy for those looking to learn more about the subject matter.
The book includes great information on how intraday positions are rolled over and how the costs associated with this can affect the profitability of your position. Also Davids advise to use simple momentum indicators to indicate where a Forex position is headed, is invaluable.
Though I said the fact that David Jones is analyst rather than trader didn’t take away from the book. The one point where this fact is evident and that is in the sections which deal with trading strategies. It’s not that these sections are bad but rather that they only offer up basic strategies and don’t offer some more of the complex strategies. Though this book seems to be pitched at quite an introductory level so this doesn’t present too much of a problem.
I would highly advise the purchase of this book to people who wish to garner more information on Spread betting, in particular to how you can use it make money from the Forex markets. I would overall give the book a high 4 out of 5.
