Has anyone read Laurentiu Damir's books

Would you like a synopsis of the pa book?? Cheers James

I did a summary of his strategy too for myself to better understand. No need synopsis. If I may ask some specifics according to his strategy: [U]How do you identify when price is ranging and trending? [/U][U]When do you know when the last HH-HL or LH-LL appears?[/U] Could you send me some picture? (recent trade better).

Thanx

Yeah, I read the 50pips a day.I like his strategies; they are reasonably practical: but I guess he is more of an inspirational speaker than a forex trader. Trade the momentum and price action are also credited to him. Quite a forex icon.

What do you mean by that? Do you think he’s a successful trader?

Any one feel free to share Laurentiu Damir books… thanks in Advanced :51:

Buy it. It’s like 4$.

i can buy this book …but i have no paypal or mastercard … i live in bangladesh … and paypal doesn’t Accept our application …

ebook on amazon have you tried?

If he is a successful Forex Trader, by that I mean, does he make lots of money in Forex, why is he selling ebooks on Amazon for $0.99 each. His 50 pips books is short from impressive, he uses a 200 SMA to confirm the direction of the trend and some Fibonacci retracements and also he suggests to look at a higher time frame like a 4Hr. and then trade in a smaller one like the 1Hr., I guess he discovered the Holly Grail with this approach.

So you don’t think it’s worthwhile?

Resurrecting an old thread that is relevant to my current interests.

I don’t think gman was saying the 50 Pips a Day system is not worthwhile. Rather, I think he was snarkily commenting that the system outlined in the e-book was nothing new, and successful traders have been using those components for some time.

A much more important comment, IMO, is that the [I]free[/I] e-book 50 Pips a Day, was little more than an advertisement for his [I]other[/I] e-books, all of which cost money. A [I]very small[/I] amount of money, true, but then again they’re small e-books [I](most of them 20-40 pages each).[/I]

Basically 50 Pips a Day talks about combining momentum, support & resistance, and price action together to identify profitable trades. He then gives you links back to Amazon to get his e-books on momentum [I](1 e-book)[/I], support & resistance [I](1 e-book)[/I], and price action [I](4 e-books and 2 physical books).[/I]

Now that may turn some people off, but even though English is clearly not the author’s first language, I find he explained his system quite well. I also find it highly [I]interesting[/I], in a [I]“That’s just simple enough to be easily understood, easily replicated, and quite likely to succeed”[/I] sort of way. While I think [I]“50 pips a day”[/I] is probably a bit of an overstatement of the system’s likely results, [I]“30 pips, a couple of times a week”[/I] looks like it wouldn’t be out of the question.

You can get the author’s whole library on your Kindle for around $40. That’s less than I’ve paid for a single book, hell, that’s less than I’ve paid for [I]lunch[/I] at my favorite BBQ place. And the seed book, 50 Pips a Day, is [I]free[/I].

So I totally recommend getting the free e-book 50 Pips a Day. It’s free, and it’s short enough [I](60 pages)[/I] you can read the whole thing over a lunch of beer and BBQ brisket [I](ask me how I know that, lol).[/I] If you read it and don’t like it, well, you had beer & brisket for lunch, and that makes any day a good day. If you [I]do[/I] like it, then the follow up e-books are $5-$8 each.

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Have you looked at his book called ‘Price Action Breakdown’? Some great material in there discussing fair value and value shifts.

His work is all about taking away the Retail Trader mentality and getting the reader to think more from a Smart Money perspective.

Whilst English is not his first language, it’s a heck of a lot better than my Romanian and he explains thing very well, without repeating or padding out with unnecessary BS :blush:

I’ve been trading a real account for around 12 months now and have had a 70% strike rate over the last 3 months, which has been helped greatly by Mr Damir’s material opening my eyes to the real forces behind the currency markets and looking for the footprints of the smart money.

Hope this helps?

Batts

Thanks for the reply. I’m just getting my feet wet in FOREX. My biggest issue is that I have a very old school learning style. I can read e-books for fun, but when I’m reading for content I need a dead tree version, and most of his books aren’t available in paper unless you buy the PDF and print it yourself.

I will be getting his two paperback price action books off of Amazon, though.

I know what you mean… at least the battery won’t die on a paperback either :blush:

Both his books are good reads and definitely get you thinking about what drives the fx markets (and how to spot the drivers). They can be a little bit heavy at points and I have to read certain bits maybe 4 or 5 times but definitely worth it in my opinion.

Getting your feet wet is all part of the fun though. My initial tip would be to focus on pip gains as opposed to money gains in the beginning. Try different ideas and find out what works for you, whether it’s double tops, trending markets with fib retracements or value zones & tails (you’ll see what I mean when the books arrive) :wink:

Happy trading my friend :+1:

That’s good advice not just for starting traders, but for experienced traders too. If you can consistently make pips, AND practice good money management, then the money will flow. How much is just details.

[quote=“DJB4TTS, post:22, topic:57982”]
Try different ideas and find out what works for you, whether it’s… [/quote]

At this stage of my education I find myself reading various set-ups (3 Ducks, London Open, High Five, etc.) and I ask myself:

  • Do I understand why this set-up might be profitable?
  • What market conditions are required for this set-up to work?
  • Under what market conditions would this set-up absolutely NOT work?
  • What time frame is the set-up designed to work in (Swing, Day, Scalp)?
  • How much time would this set-up require me to set aside to monitor the trade?
  • Can I research & execute this trade in the time I have set aside each day to trade (7:00-8:30 AM EST)?

I find I’m learning a lot by discovering my many set-ups DON’T fit my personality and trading style. But I’m also gleaning useful tools to fine tune the one set-up I’ve found so far that DOES fit my personality, trading style, and life style.

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His recent book Price Action Breakdown was a game changer for me. You need to have a decent understanding of trading first but it will simplify the concept of trading and completely demistify a chart when you look at it. The way its written can be hard to follow at times so read it twice and sit in front of a screen with tradingview open and follow the prompts.

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Yeah. I owe My trading success to him. The Price Action Breakdown book was a turning point for me. I like his other books but I think his work on the Price Action Breakdown is the best

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I have been trading on and off for years. I am just starting to apply the ideas with money, but so far, the context that it provides to larger market movement seems very helpful

It contains a lot of resourceful information. But like any strategy, one must follow it to the T.