Learn how to think like Soros and make a killing in global markets With the advent of reliable, relatively inexpensive electronic trading systems, global trading, once the exclusive domain of specialists such as George Soros, is now open to the masses. In this book, Barbara Rockefeller tells the average trader everything he or she needs to know to access the global markets and profit from them. Clearly and simply, Rockefeller explains the nuts and bolts of global trading. She examines the importance of futures trading, stock indices, currencies, and other information necessary to be successful. She describes various costing schemes, how to keep and maintain accurate records, and how to deal with a host of common problems encountered in the global markets. And she explains how to understand and use various key indices and types of knowledge required to analyze and successfully trade foreign markets, such as macroeconomics and political analysis. Barbara Rockefeller (Stamford, CT) is the founder of Rockefeller Treasury Services, an independent research firm specializing in foreign exchange forecasting and currency management. She is also a columnist for worldlyinvestor.com
The book contains some interesting insights into the world of professional trading by an experienced financial professional with solid credentials in the area of foreign exchange and hedging. She advocates and supports with good logic, active investment strategies as compared to passive, value-oriented, or buy-and-hold methods. In addition, she points to greater opportunities in foreign markets vs. the heavily "picked-over" US markets. Her rationale: "inefficiencies galore."
Active traders who build skill at identifying market inefficiencies have the odds on their side. Further, she asserts "everything works" in terms of technical analysis: not everything all the time, but judiciously applied any of the classic techniques described in the book offer an edge over purely discretionary decision-making. Don't laugh. If you read Jack Schwager's "Market Wizards" series of interviews with top traders, you'll see a wide variety of trading strategies that work when applied consistently by a pro. I find Rockefeller's analysis unique and encouraging against the masses of so-called experts online touting their pricey systems.
One quibble: the author references many books throughout the text yet fails to provide a reference/bibliography section, leaving the reader to paw through pages to find the names of authors and titles of books. Even so, I have ordered several of those she referenced.
It has been two decades since the publication of this book, yet it has value for any serious trader. I am glad I read it and likely will refer to parts of it in the future.