The first question that comes to my mind is:
Is it just another book of technical analisis?
-This is a book about Forex
This is something very important. In fact the forex market is different from the stocks and the commodities. There are some specifics. It is 24 h market. And I think that all the stuff written about the stock market does not apply authomatically in the Forex market.
There are some volatility patterns that are typical about the Forex markets and those matters are not adressed in the technical analysis books written about the stock market. For example the increase of volatility in the beginning of the European and London cession are typical for the Forex market. If you read a book about the stock market and you are not awared about that you would learn this market knowledge on the hard way.
It is very important to know that there are not many good technical books written specifically about Forex.
-The patterns are explained in a very interesting way
This is something very important. The author brings his own experience about the pattern trading. This is very valuable and he shares his proprietary way of managing pattern trading.
This is the most important thing in the book. The author prepares different strategies based on specific patterns. In those strategies he prepares a Trading plan. Every technical analyse sheet is linked with a concrete trading plan.
The bad thing if I compare it with a traditionnal book abouk patterns The Encyclopedia of Chart Patterns by Thomas N. Bulkowski there is not any evaluation of the success for every different strategy.
In fact I cannot vblame the author because everything is very dynamic in the market however, the author does not offer a methodology for backtesting of every single strategy on the current market conditions.
-There is a big public thread based on the information from the book Beat the Odds in Forex Trading
That is an important question because we are submerged by information about technical analysis. Everybody knows: Head and Shoulders, Triangles, Pennants etc.
One of the most important things is that his author I. R. Toshchakov also known as igrok has a thread in the forex factory forum. There are discussed a lot of things about his book. And this is very important because I think that the public discussions are part of the value of the book.
You can find the thread on this link: Igrok Method. Q's & A's. Comments, thoughts and ideas
http://www.forexfactory.com/showthread.php?t=21887
Today this thread has 468 pages and is very popular and it is very active.
Some ideas
I really like the intellectual approach of the author of the book Beat the Odds in Forex Trading: How to Identify and Profit from High Percentage Market Patterns.
It is very important to back test every strategy on the current hystory. Do not trade blindly. Do not take anything for granted. Test everything.
It is a good idea to use this book together with artificial technical analys patterns software.
The pattern recognition software is a good choise. Here you have a statistical evaluation of every pattern. That is a very good complement.
http://www.ibfx.com/Tools/PRS
Read the book and do not hesitate to join the technical analysis communities.
As far as I know the autor has a private community.However I do not know him personnaly so I cannot give any credentials
http://www.igrokforex.com/index.php?page=chif
ibfx provides so much free stuff,no wonder they are loosing money
ОтговорИзтриванеBeat the Odds in Forex Trading: How to Identify and Profit from High Percentage Market Patterns is indeed a good technical analysis book written for Forex. That really matters because the Forex market is specific with the patterns with the volatility that really need to be taken into account.
ОтговорИзтриванеThat is not just a theory, the historical analyses with the Autochartist software are revealing that there is a drop in the performance of the break- outs from patterns during low volatile hours of the day.