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Book Review

Cover of Kathleen Brooks on Forex by Kathleen Brooks This concise and well written beginner-level guide to foreign exchange is something different, with the author?s approach established at the outset to be the fusion of fundamental and technical analysis. So often diametrically opposed to each other, these techniques are frequently used together by many successful traders, but this does not seem to be written about very often. Authors tend to advocate the use of one or the other method. However, Brooks is correct in arguing they are complementary techniques.

The first two parts of the book discuss fundamental and then technical analysis. For each, the main news, data, indicators and techniques that the author uses in her trading are provided ? including labour market surveys, inflation data, GDP, moving averages and Ichimoku clouds.

In Part C, real trading examples are provided to show how fundamental and technical analysis are employed together. Part D then shows how the author develops and engages trading strategy using effective risk management techniques.

As you would expect from a book with the author?s name in the title, this is a look at one FX trader?s personal approach to the market. It is an illustration of one person?s way of doing things ? it does not claim to be definitive, or state that you must do things this way, which is to its credit, as there is no single correct method for trading. However, it is by learning how other successful traders are operating ? and incorporating some aspects of what they do into our trading ? that we can improve our approach.

The two greatest assets of this book are its concise length ? it is accessible and clear ? and that it shows how someone from a background outside of economics can still learn how to trade foreign exchange. It is highly recommended as a foundation for beginning forex traders. It also provides food for thought for those who have been trading for a while.

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