Description
Essentials of Foreign Exchange Trading provides readers with real, practical information on how to trade the foreign exchange market effectively. It begins by covering introductory information on the forex market, including basic trading mechanics and the benefits of forex trading, and then goes on to describe specific currency trading methods and skills in step-by-step detail. This includes highly practical information on technical and fundamental analysis, risk and money management, and powerful forex trading strategies. These strategies have proven extremely effective in helping traders play the forex game to win.
Author’s Introduction:
Needless to say, those early days taught me a good lesson. Most humans are not instinctively good at trading. For the vast majority of us, guts and instinct left unchecked invariably lead to catastrophic losses at some point in time, usually sooner rather than later. On attaining this realization, I began a tireless quest to become a profitable forex trader. My efforts consisted of a prolonged, single -minded endeavor to absorb forex -specific analytical methodologies, highly touted currency trading strategies, and sound money management techniques. My search for the “ holy grail ” of foreign exchange trading had begun in earnest.
Over time, I realized that this holy grail of forex, in the traditional sense, was not only elusive but most likely nonexistent. I came to the conclusion that although a bunch of chart indicators all flashing the same signal at the same exact time to enter into a currency trade is a very nice thing to see, it probably would not by itself be able to feed a typical family on a consistent basis. The true holy grail, I eventually found, is a combination of good analytical and trading technique, great risk/money management, and phenomenal discipline. Without these vital components, consistent profitability in forex trading would be diffi cult to achieve.
This is where the book you are holding comes in. It is not meant to be an exhaustive tome that covers every detailed aspect of the foreign exchange world. Rather, this book is meant to serve as a practical guide to help you develop some of the most important tools and attributes necessary for approaching forex trading in an intelligent and well-prepared manner. Essentials of Foreign Exchange Trading is the kind of book that I wish I had read during the earlier years of my forex trading career.
But even now, after many years of trading this market and analyzing foreign exchange price movements for countless traders around the globe on behalf of FX Solutions, I occasionally find myself neglecting some of the essential concepts of good forex trading. Therefore, I have included all of these key concepts within the pages of this book — writing them down in this manner has helped me to refocus on what is truly important in one’s quest for profi tability in this market. In short, this book is highly relevant for all who strive to increase their probability of achieving success in forex trading.
Contents:
- Introduction to Foreign Exchange Trading
- Basic Foreign Exchange Trading Mechanics
- Technical Analysis—Tools for Trading Foreign Exchange
- Fundamental Analysis—What Drives the Foreign Exchange Markets
- Foreign Exchange Trading Methods and Strategies
- Important Elements of Successful Foreign Exchange Trading
