How to Make a Living Trading Foreign Exchange explains all the basics that a novice needs to know to get going in Forex Market. At the same time, experienced traders will find the systems and methods, particularly my enhancements of classic methods, to be of significant value. Every trader will find the sections on the psychology of trading and risk management will sharply enhance their profitability.
Chapter 1 outlines the basic information you need to get started in trading forex. Perhaps you’ve traded stocks or mutual funds or even futures. Chapter 2 is where we really start the methods of making money in the forex market. This chapter introduces trend analysis. This technique is similar to what have been called 123s. Chapter 3 is all about channel breakouts. This classic technique has been around since the 1960s. It’s been around that long because it is that profitable. Chapter 4 is about the Conqueror system.The Conqueror is a technique that has a very hard time entering the market. It wants all the conditions to be perfect before entering a trade but jumps out of the position at the slightest intimation of weakness in the trade.
Chapter 5 introduces how to use stochastics profitably. It seems like everybody uses stochastics; they are perhaps the most popular indicator in chart services. Yet everyone is using them wrong. Chapter 6 introduces the multiunit tactic. This technique uses multiple contract positions to give you more flexibility in your exits. This technique has a lot of positive psychological benefits while also giving a kick to your profits. Chapter 7 drills down on this important subject and gives you clear instructions on how to control the risk in your account to ensure that you will be a profitable trader. Chapter 8, shows a new technique called the Slingshot as well as the mini-Slingshot.
Chapter 9 looks at the biggest block against making money in the markets: you. It is your psychology. You are the biggest problem. Intellectual skills are trivial. Chapter 10 shows how they all fit together into a coordinated program for profits. Each technique has a different purpose from the other techniques.
- The Basics of Foreign Exchange Trading
- Trend Analysis
- Channel Breakouts
- The Conqueror
- Pattern Recognition
- Risk Management
- The Psychology of Successful Trading
- Putting It All Together
How to Make a Living Trading Foreign Exchange By Courtney Smith pdf