Free Forex MQL Training

Review:

This book is a very good source for having a good understanding of fundamentals behind the Forex market. If you would like to know more about what causes currency pricing then this is a very good start. I am personally a great of fan of chapters 2 "Central Banks", and 5 "Fundamental Analysis". They give you a better idea about policy makers, economic indicators of every important country in the world of forex. There are also good hints about forex brokers and dealers in chapter 3 "The Forex Market".

Other than what explained above this book is not that useful. Here are some problems that I found with the book.

Lack of Information about Technical Analysis
Chapter 6 "Technical Analysis" is very brief. It shows some hints about this important aspect of trading without going into details. The chapter does not include a single image. When it refers to chart formations or different chart types it does not show you samples. Thus you need to guess what those charts and formations look like! There are only 10 pages assigned to this chapter.

Calculations Mistakes and More
The book explains (pages 172 and 173) that calculating profit and loss in Forex is extremely easy, yet it offers an example with errors in calculations. It shows a GBP/USD trade with 1 standard lot that gains 6 pips and the profit is $4.12. I honestly don't know how the author has made such an obvious mistake. For your information the correct answer is $60.00.

On the other hand the way it quotes currency pairs is weird. For example it quotes GBP/USD as USD/GBP or USD/JPY as JPY/USD which is not common among forex traders. It seems that the author has not traded forex even once.

Long Appendices and References
More than 90 pages of the book are dedicated to references. While some of them are useful you can easily find them online. They could probably limit the references to 40 pages or even less and yet keep their potential usefulness.

Misleading Title
Unfortunately the title of the book is misleading. It reads "The Complete Guide to Currency Trading & Investing" but it is far away from being complete. It is not even a reliable guide to currency trading (because of the miscalculations and missing information in technical analysis section).

Conclusion

If you are looking for a book that explains fundamentals of currency trading then this book is for you. The majority of the book is dedicated to fundamentals. You can certainly find useful information about most traded currencies such as US Dollar, Great British Pound, Euro, Australian Dollar, Japanese Yen, Canadian Dollar, Swiss Frank, and New Zealand Dollar. You will also find useful information about central banks behind these currencies and how they control their economy and the value of their currency.

About two third of the book is dedicated to fundamental analysis or basics of forex but the rest of the book can be easily ignored.

Recommended Books!