Just read the book. They have slightly different definitions than the traditional patterns and that’s why they have different names.

Thanks for your input!

the best section in this book is how to draw the support and resistance areas using line chart.

but i didn’t like the new name of the price action patterns (Kangaroo tail -> pin bar)

i recommend all the traders to read this book.

Thanks for the feedback Jake. Cool, whatever works…I say 🙂

Hugh

I think we may have read the same Amazon reviews. I have to admit though, what really made me pull the trigger on this book was the likability I found in Walter in his videos (as well as TTL #7 here on this site). It’s true what they say: Don’t judge a book by a bad review on Amazon…or something like that.

No worries. I agree with reluctancy to pay for such tools (or at least at the price they’re asking). It’s the reason I haven’t purchased the bundle of FT2+FST. I have one of those spreadsheet templates for trade logging/calculations prepared by someone else, and I agree it’s sufficient. But I may be sold on the concept of a dedicated trade logging program if it really is more intuitive and automated. As they say, it’s a database and not just a spreadsheet. I LIKE to think I’d appreciate the difference.

Cheers to good trading,
Jake

Hey Jake, glad to hear it. Yeah, this is one of the few books that really gives people a grounded and well-rounded Forex trading education. I read a really harsh review of the book on Amazon about they are just self promoters, blah, blah blah. But if people actually took the time to study a chart and even just look at generic price action principles, they would see that price action is a legitimate strategy.

Thanks for the suggestion on reviewing FST! However, I’m not a big believer in paying for logging or calculator tools. First because they are like trading systems, they need to be customized to the trader. Second because it’s not hard to put together a spreadsheet for logging or for calculations.

Forex Tester is certainly a must have though.

I appreciate the thoughtful comments and I hope your trading is going well.

Cheers,
Hugh

On a side note, this book renewed my interest in Forex Tester. After a Google search for that, I was even more intrigued by a sister product of it called Forex Smart Tools, which is apparently one hell of a product (trade log and calculator) by the same folks. It’d be great to have you review it! It costs for a license, but there might be some trial/lease arrangement to be made.