Forex for small speculators.
This book explores the application of intermarket analysis to the foreign exchange market, the world’s largest and most widely traded financial market. Intermarket analysis helps traders identify and anticipate changes in trend direction and prices due to influences of other related markets as financial markets have become interconnected and interdependent in today’s global economy.
These markets include forex futures and options as well as major cash forex pairs, which are affected not only by other currencies, but by related markets such as the S&P Index, gold, crude oil, and interest rates. As the world economy of the 21st century continues to grow and as new advances in information technologies continue to be introduced, financial markets will become even more globalized and sophisticated than they are today, increasing the central role that the forex markets play in the global economy.
Foreign currency exchangeâ€””Forex”â€”is today’s #1 new investment opportunity. Revolutions in technology, regulation, and globalization have made Forex trading accessible to every active investor. Only one thing has been missing: An objective, clear “user’s guide” to Forex trading. Now it’s hereâ€”and it’s in your hands.
Simply and clearly, Forex Revolution reveals everything you need to know to trade Forex hands-onâ€”from fundamental and technical trading strategies to the unyielding discipline that’s essential to success.
In this book, Peter Rosenstreich brings together insider techniques from all over the industry: Traders, banks, Forex firms, even the National Futures Association. You’ll find expert guidance on everything from handling 24/7 markets to profiting from the emergence of China.
Unlike other books, Forex Revolution doesn’t require you to subscribe to costly services or purchase expensive tools. Whether you’re an individual investor or a money manager new to Forex, this book gives you all you need: Facts, techniques, resources andâ€”above allâ€”the insider’s edge.
The foreign currency market is the largest financial market in the world, and foreign exchange trading is quickly becoming one of today’s most high-profile, potentially lucrative markets. One problem is that books on the topic are complex, technically dense, and difficult for Forex novices to grasp.
FOREX Made Easy is the first book to approach the topic in a detailed yet accessible style, gradually and deliberately moving from simple to complex in easy and natural language. Author James Dicks–founder of the popular trading software 4X Made Easy–draws upon his trading knowledge to give readers only the information they need, from setting up a workstation to trading electronically.
Profiting with Forex introduces investors to all the advantages of the global foreign exchange market and shows them how to capitalize on it. Readers will learn why forex is the perfect supplement to stock and bond investing; why it is unrivaled in terms of protection, profit potential, and ease of use; and how it can generate profits, whether the other markets are up of down.
Add certainty and systematization into Forex trading with this practical approach. Author and industry professional Igor Toshchakov shows how recurring market patterns–which can be recognized on a simple bar chart–can be successfully used to trade the Forex market. Written for traders at every level, this valuable resource discusses the challenges of developing a trading method, while revealing the Toshchakov’s approach to the market–both from a philosophical and tactical point of view. You’ll discover specific trading strategies based on recognizable market patterns, get detailed information on entry and exit points, profit targets, stop losses, risk evaluation, and much more.
Whether you’re a full-time trader looking to make a living or a part-time trader looking to make some extra money, the foreign exchange (forex) market has what you desireâ€”the potential to make sizeable profits and 24/7 accessibility.
But to make it in today’s forex market, you need more than a firm understanding of the tools and techniques of this discipline. You need the guidance of someone who has participated, and prevailed, in this type of fast-paced environment.
Raghee Horner has successfully traded in the forex market for over a decade, and now, in Thirty Days of Forex Trading, she shares her experiences in this field by chronicling one full month of trading real money. First, Horner introduces you to the tools of the forex trade, and then she moves on to show you exactly what she does, day after day, to find potentially profitable opportunities in the forex market.
Part instructional guide, part trading journal, Thirty Days of Forex Trading will show youâ€”through Horner’s firsthand examplesâ€”how to enter the forex market with confidence and exit with profits.
Take an in-depth, how-to look at Forex trading using the methods, analysis, and insights of a renowned trader, Raghee Horner.
As the fate of the dollar against foreign currency generates both anxiety and opportunities, currency trading has been drawing much interest and a growing following among traders in the United States. The Forex market is particularly attractive because it trades with no gaps and has unlimited guaranteed stop-losses. The liquidity of the Forex market and worldwide participation makes for more reliable and longer lasting trends as well.
Raghee Horner, legendary not only as a top Forex trader but as a master teacher of trading systems and techniques, draws on her winning tools and methods, including classic charting techniques, in this book. She’ll enable you, regardless of your skill level as a trader or investor, to understand how the Forex operates and lays out a blueprint for getting starting in this little-understood but high-potential trading vehicle.
I have to admit that I'm an avid reader of just about any "legitimate" forex content that I can get my hands on. If a new forex book is published, I'm one of the first to read it. I know some people think that one book is good enough but I just enjoy reading.
I ordered Raghee Horner's new book "Thirty Days of Forex Trading: Trades, Tactics, and Techniques" from buy.com last week and received the book yesterday. I've always enjoyed Raghee's commentary, webinars, and also her previous book, "Forex Trading for Maximum Profit." Here's a partial description of the book on Amazon:
…she shares her experiences in this field by chronicling one full month
of trading real money. First, Horner introduces you to the tools of the
forex trade, and then she moves on to show you exactly what she does,
day after day, to find potentially profitable opportunities in the
The introduction of the book is a Raghee brain dump of her trading methodology. She talks about her main indicator, the Wave, support & resistance, fibonacci numbers, the MACD, and pivot points. She also gives a general overview of the forex market and also how to execute trades using a particular platform. My problem with this chapter is that I feel she is trying to endorse certain products in a way similar to James Dicks' in his book "Forex Made Easy." I don't know if Dicks' is a scam artist but I've heard he is a bit shady. Raghee attempts to push an introducing broker where she probably gets a cut of the spread. This just turns me off so I just skipped over this crap.
The remaining 30 chapters of the book are a rough trading journal broken up into 30 days. Let me get into the good first.
I thought that I knew everything there was to know about how Raghee traded but reading through her trade journal produced some additional information I had never heard from her before. One such thing was how she traded during the news or hot zones as she calls them. If she gets a setup opportunity before an important news release, she doesn't ignore it. She will take the trade and then use a 60-second stop once the news is released. She does this by getting rid of any stop orders she may have and then she waits for the 60 seconds to expire after the news release. She still mentally keeps the stop in her head and if after the 60 seconds, the price is below her stop in a long trade or above her stop in a short trade, she will exit the trade. She does this to clear out the emotion typically exhibited during the first minute after an important news release. If after the 60 seconds have expired and her stops were not hit, she will once again set a stop order at the levels she had them at before the news release.
Raghee really likes the use of fibonacci retracement or extension for her profit targets. A rule she uses in conjunction with figuring her profit targets is the 10-12 pip rule which says that if a certain support/resistance level is within 10-12 pips of her entry, she will ignore this level and use the next level. So if you entered long at 1.3012 and the .618 fibonacci level is at 1.3019, this level is not used as a profit target because it is only within 7 pips of her entry. She will use the next level, the .786 fibonacci as her 1st profit target.
What didn't I like about the book? There were a couple of things, one of those being that I feel like she didn't really address money management in her journal. She does mention it in the introduction but never mentions whether a trade had proper risk/reward for entry. The charts were also pretty hard to follow because many times they weren't on the same page that referenced them. They were also in black and white. I don't know much about publishing but for $85.00, you would think that all or some would be in color. (I didn't pay $85 which was retail, I paid about $50) If they weren't going to color the charts in print, they really should have included a picture of every chart on the CD that comes with the book. I thought including the color charts on CD would be common sense but obviously not. The CD just contains some videos similar to what you will find in her webinars.
While I found her explanations for trade entry, stop and limit placement satisfactory, I found that she didn't mention the end result of most of her trades. Only if a trade opened and closed on the same trading day did she sometimes mention it. I was constantly asking myself, "What happened to the trade she made yesterday." This may have been by design but I just felt like her trades could have been much more organized. She could have numbered each trade and at the least, included the results of each and every trade on the CD or in an appendix.
With the good comes the bad and I don't want to give everyone the impression that I didn't enjoy this book. I read it in under a day so I must have enjoyed it! I just felt like it could have been much more organized. I don't regret buying it because I did learn some important lessons from it, hopefully lessons that I can use in the future.
If I had to give this book a rating from 1 (worst) to 10 (best), I would give it a 6.
If you're interested in reading more about the book or buying it, go to Amazon.
Rob Booker recommends some trading books by addressing the following points:
- How to pick books that will help you?
- How many strategies do you need?
- The 10 best books on trading and how they can help you now
You can check it out on FXStreet's Live Transcripts,