Your cart is currently empty!
The Omicron Forex Trading Manual
Bill from Colorado
5.0 out of 5 stars Hard headed number crunching
Reviewed in the United States on October 7, 2012
The author of this book started his career as an engineer and went on to specialize in data mining and quantitative analysis as a Business Analyst, working for a number of global corporations. Along the way he was trading electronically, initially with equities and later in Foreign Exchange currency pairs.
I suppose it was only a matter of time, although it was obviously facilitated by the rise of automated systems for historical analysis of trading, before he married the skills he had acquired as a Business Analyst with his trading. By the evidence of this book another talent he possesses is the ability to get his ideas across through his writing.
One thing that comes out very clearly from all of McKenna’s work (he also publishes a blog at […] ) is that there is no room for preconceptions in Forex (or any other) trading. The most elegant sounding theory as to how currency pairs SHOULD behave can be completely annihilated by a proper analysis of the data. The only way to success is through being able to “think in probabilities”, and basing that thinking on a totally clinical assessment of the analysis is of crucial importance.
Everything else emanates from this truth: how to cut losses and let profits run (not WHY this should happen but the practical, down to earth means by which it can be achieved without having to personally monitor every second that a trade exists); how to deal with key dates in the economic calendar; how to optimise parameters for a trading strategy; and so on.
Buy “The Omicron Forex Trading Manual”. You’ll be glad you did.
Amazon reviewer
5.0 out of 5 stars Clarity in trading
Reviewed in the United States on September 24, 2012
This is an insightful updating of the works of Mark Douglas (“The Disciplined Trader”, “Trading in the Zone”) and Dr. Alexander Elder (“Come into my Trading Room”, “Trading for a Living”). In fact all these books are mentioned sometimes in the text and also in the reading list at the back as are many others. Douglas and Elder never dealt with Forex or automated (algorithmic) trading. This book deals with both and both topics are also greatly helped in the book it would seem by the author’s extensive experience and technical training. At the same time it is very readable by anyone with even the smallest numerical ability.
5.0 out of 5 stars A good Forex book and well written
Reviewed in the United States on October 18, 2012
It’s good to be able to give a positive review to a technical book on the grounds that it’s a good read. The Omicron Forex Trading Manual, happily, falls into this category. I have read many, many other books on trading which, although they might even have contained some good advice, were composed completely of turgid prose.
Not this one.
Mr. McKenna has fended off the temptation to regale his readers with irrelevancies, which means he can concentrate on the matter in hand. The result is a work that will inform while, at the same time, ensure that you remain interested and fully engaged. The advice given is realistic and valuable.
I look forward to further works on the topic of computerised trading and analysis from this author, who seems to fill a space that is not occupied by many – that of a numerate, technical individual who can write well, and so get his ideas across effectively to his readers.