Forex Made Easy : 6 Ways to Trade the Dollar

Review by Michael Bird for Forex Made Easy : 6 Ways to Trade the Dollar
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When a book is described as being a guide to make something easy or understandable and then turns out to be a sales pitch it uncovers a basic truth, you can’t trust the author.

There is a web site (OANDA) that will allow you to open a practice FX trading account for free that will stay open indefinitely, the site has plenty of information on how FX trading works, how margins work and how the various indicators for technical trading work (on the trading platform you can use many different types of analysis for free). There is also a board to post questions, etc., with other traders or those interested in trading, in other words, you can learn most of the information presented here for free from more unbiased sources.

I bring all this up because there is no reason to buy this book unless you want a sales pitch, which in general, I have no problem with IF it’s being given by someone that lets me know upfront that that is what I’m getting AND they are buying me lunch. When I have to PAY to get sold, I’m twice the loser.

Not all information is this book is bad, however, if you want a book that explains technical analysis, go buy one, why buy a book on making FX “easy” filled with chapters with basic explanations of candle stick charts (and tons of filler charts) and the like? No reason I can think of, my only guess is that the author figured that anyone that read this that wasn’t informed or well read on the topic would be impressed, go to his web site and buy his product. In other words, what is disguised as a “how-to” guide is really a “how-to-make-the-author-money” guide. You’d think if the guy’s ability in the market was so good he wouldn’t need to resort to this low level (bottom feeding) type selling.

One of the reasons presented to buy this book (on the inside flap and in the beginning chapters) is to learn how to diversify your portfolio, which of course is generally seen as a good thing, so an appeal to the average investor is made. The problem with this is simply that the average investor probably isn’t paying nearly enough attention to their current assets and then they are asked to buy into this FX system, which, at a minimum would require many hours of work and research. The dilemma is obvious, unless one is planning on becoming a day trader, you can’t work a normal job and spent hours in study in all the various markets, there isn’t enough time. Ironically, after telling investors to be diversified, the author explains that to really be able to trade FX you should really only work in a couple pairs or so, because, after all, there is simply too much information to follow multiple markets.

So there it is in a nutshell, the author wants you to be diversified BUT he tries to sell you his system to become an expert in a very narrow and specialized field. Good luck.

Review by Scott Shubert for Forex Made Easy : 6 Ways to Trade the Dollar
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It is because I am an entrepreneur and a capitalist that I got into Forex trading. Therefore I must admire and respect those who achieve monumental success such as James Dicks. And I actually enjoy reading a book or e-book that is a good sales letter for another product. People who resent such things would do well to go through T.Harv Eker’s Millionaire Mind training and other such wealth consciousness training. However, I think most people in the Forex world now realize that Forex Made Easy is a software that produces green arrows for a buy signal and red arrows for a sell signal. The programming behind the software, I am told, is based on a simple signal that is taught in at least a similar form in many introductory trading courses. Following the signal requires users to remain ignorant of all the other factors that could eliminate most of the losses. Many people who started out with Forex Made Easy have told me that they did not start learning to trade until they went on to other sources of training. I believe that Forex Made Easy may not have ever had their customer’s best interest nor their success as a motivating factor when creating the company. They have made a huge amount of money with late night TV commercials and high pressure “free introductory seminars”.

And now that their reputation is well known to be less than honorable the company has reincarnated as Premiere Trading with a new round of late night TV commercials. I am not saying that Premiere Trading is connected with Forex Made Easy. But apparently James Dicks is the leader of both companies. Of course, there is nothing wrong with advertising on late night TV. I am just a little concerned about the integrity of these organizations. The real profit in this industry is in finding a continuous stream of new customers and connecting them with an Introducing Broker and watching them lose their accounts in the first 6 months. Consequently, it is hard to find sources of help in the Forex world that are committed to the long term success of their clients. The industry is driven by the unregulated Forex brokers and most of the training and information that is available is geared toward what makes the most money for the brokers.