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Forex Product Reviews
How to Find the Right Forex Trading Software
It can be an expensive exercise to buy the right Forex trading software that will best suit your own particular needs. Therefore it can be in your interests to first avail yourself of a free evaluation application. A free software program will help you to make sure that what you are buying will, in fact, [...]
Leo Trader Pro Review – Neural Network Robot – Is It A Scam Or Real?
Running this site for as long as I have (we’ve been around since 2003), I’ve seen and reviewed a lot of Forex books, expert advisors, platforms, and brokers. When I took a look at Leo Trader Pro, however, for the first time in a long time I saw something new and unexpected. Look, I’ll be [...]
News & Market Conditions
Forex Indicators – Using Bollinger Bands
Forex Indicators – Using Bollinger Bands One of the most commonly used indicators in the Forex market is the Bollinger Band. Bollinger bands are a tool that you can find on the popular Metatrader platform and they can help you determine the volatility of the market. Here are the basics of Bollinger bands and how [...]
How To Preserve Mental Capital
Everyone has heard the industry statistic that nearly 95% of traders lose money and quit trading before every realizing consistent gains in their trading account. What we do not hear so often is why. Why do most trader fail and quit trading? Is it because they actually run out of money? Typically, traders do not [...]
Reports And Predictions About The FOREX Market in 2011
The forex trading is also not without certain risks and problems. You need to understand the small nuances of this trading so that you can manage to earn profits as well as make a niche out of this business. The returns you get may also help you in the process of consolidating your debt and [...]
Natural Disasters – Casting a Shadow Over the Currency Markets
There has rarely been a time when there have been so many distressing images on the television, live as they are happening. The earthquake that hit Christchurch in New Zealand recently was a case in point, but it has now been eclipsed to some extent by what has occurred in Japan. A massive 8.9 earthquake [...]
Books & Forex Training Materials
Technical Analysis 3 for the Professional Forex Trader 2010
Learn the Technical Indication secrets the Forex pros use! Part 3
Technical Analysis offers many insights into how the Forex market works. You will benefit greatly from a good foundation in each type of insight and, perhaps, a specialty in one or two. This course is designed to teach you classic Technical Analysis and form a rock solid decision support program, the foundation for everyone when it comes to trading. In this continuing series of Technical Analysis the focus shifts to the mathematical derivatives of a price and volume over time. In this course, you will learn how to truly understand and use Indicators for what they were designed for.
In Part 3, You will learn to use Technical Indicators for the trading of Forex. We will explore their proper use and evaluation and dispel many of the bad beliefs many have been given by the “guru’s”. We look at a variety of Oscillators (MACD, RSI, Stochastics) and Momentum Indicators (CCI, ROC), as well as a Volatility indication, such as Average True Range (ATR) and Bollinger Bands. We show you which are the right combo’s as opposed to having your screen loaded with squiggly. We discuss in depth the true nature of the Indicators – how they work, why they work or do not, when to use them and when to lose them. There is plenty of use in Technical Indications, but too many do not “really” use them correctly. Come on – get on the right side of the trade. All of this is done in a clear, simple and concise manner to improve your FX trade entries and exits. Mike Mc Mahon will take you through the steps to creating high probability trades, using Chart Analysis, Technical Indication with Trend lines, Support & Resistance in combination so you have a clear picture of price, time, volume and the market expectations.
The Technical Analysis 3 is part of the “Professional Forex Trader Library”-entire Forex education in one package!
High Probability Trading Strategies: Entry to Exit Tactics for the Forex, Futures, and Stock Markets (Wiley Trading)
In High Probability Trading Strategies, author and well-known trading educator Robert Miner skillfully outlines every aspect of a practical trading plan–from entry to exit–that he has developed over the course of his distinguished twenty-plus-year career. The result is a complete approach to trading that will allow you to trade confidently in a variety of markets and time frames. Written with the serious trader in mind, this reliable resource details a proven approach to analyzing market behavior, identifying profitable trade setups, and executing and managing trades–from entry to exit.
Note: CD-ROM/DVD and other supplementary materials are not included as part of eBook file.
Beat the Forex Dealer: An insider’s look into trading today’s foreign exchange market (Wiley Trading)
The foreign-exchange market is often referred to as the Slaughterhouse where novice traders go to get ‘chopped up’. It is one of egos and money, where millions of dollars are won and lost every day and phones are routinely thrown across hectic trading desks. This palpable excitement has led to the explosion of the retail FX market, which has unfortunately spawned a new breed of authors and gurus more than happy to provide misleading and often downright fraudulent information by promising traders riches while making forex trading ‘easy’.
Well I’ll let you in on a little secret: there is nothing easy about trading currencies. If you don’t believe me then stop by Warren Buffet’s office and ask him how he could lose $850m betting on the dollar or ask George Soros why his short yen bets cost him $600m not once but twice in 1994. What’s wrong with these guys, don’t they read FX books?
In reality, the average client’s trading approach combined with the unscrupulous practices of some brokers make spot FX trading more akin to the games found on the Vegas strip than to anything seen on Wall St. The FX market is littered with the remains of day traders and genius ‘systems,’ and to survive in the long-run traders have to realize that they are playing a game where the cards are clearly stacked against them.
Have you ever had your stop hit at a price that turned out to be the low/high for the day? Bad luck perhaps? Maybe. What if it happens more than once? Do you ever feel like the market is out to get you? Well guess what, in this Zero Sum game it absolutely is.
Covering the day-to-day mechanics of the FX market and the unsavoury dealings going on, Beat the Forex Dealer offers traders the market-proven trading techniques needed to side-step dealer traps and develop winning trading methods. Learn from an industry insider the truth behind dirty dealer practices including: stop-hunting, price shading, trading against clients and ‘no dealing desk’ realities.
Detailing the dealer-inspired trading techniques developed by MIGFX Inc, consistently ranked among the world’s leading currency trading firms, the book helps turn average traders into winning traders; and in a market with a 90% loss rate winning traders are in fact quite rare! More than just a simple manual, Beat the Forex Dealer brings to life the excitement of the FX market by delivering insights into some of the greatest trading triumphs and highlighting legendary disasters; all written in an easy to read style.
Make no mistake about it there is a lot of money to be made in currency trading, you just have to know where to look. Sidestepping simple dealer traps is one way of improving your daily p&l, but it is surely not the only one. Successful trading comes down to taking care of the details, which means skipping the theoretical stuff and providing only up-to-date, real-life examples while sharing the FX trading tips that have proved so profitable over the years. By stripping away the theory and getting down to the core of trading, you too will find yourself on the way to beating the forex dealer!
Attacking Currency Trends: How to Anticipate and Trade Big Moves in the Forex Market (Wiley Trading)
The guide for reading long-term trends in the foreign currency market
To thrive in the marketplace traders must anticipate, enter, and stay with trends in the foreign exchange market.
In this much-needed guide top forex, expert Greg Michalowski clearly explains the attributes of successful traders, and shows how traders can set themselves up for success by drafting an explicit mission statement and game plan. The book also contains the tools and techniques traders need to read the markets and identify when a market is in a trend. Michalowski shows traders how to enter an emerging trend, how to manage the position, and how to exit the position most effectively.
- Includes the technical tools needed to invest in the foreign exchange market: moving averages, trendlines, and Fibonacci levels
- Shows how to identify a trend and stick with the trend through its duration
- Written by Greg Michalowski who was cited by SmartMoney magazine as a “go to” source for making money moves
With this book, Michalowski offers an important resource for identifying and riding out long-term trends in the volatile foreign currency.
The Forex Trading Course: A Self-Study Guide To Becoming a Successful Currency Trader (Wiley Trading)
A pioneer in currency trading shares his vast knowledge
The Forex Trading Course is a practical, hands-on guide to mastering currency trading. This book is designed to build an aspiring trader’s knowledge base in a step-by-step manner-with each major section followed by a thorough question-and-answer section to ensure mastery of the material. Written in a straightforward and accessible style, The Forex Trading Course outlines a practical way to integrate fundamental and technical analysis to identify high probability patterns and trades; and reveals how to develop a trading plan and appropriate strategies for different size trading accounts; how to control emotions and use emotional intelligence to improve trading performance; and much more. Filled with in-depth insight and practical advice, The Forex Trading Course will prepare readers for the realities of currency trading, and help them evolve and achieve success in this dynamic market.
Abe Cofnas (Orlando, FL) has been the forex trading columnist for Futures magazine since 2001. He formed Learn4x.com-one of the first Web-based interactive training sites devoted to forex trading in 2001 as well.
Making Money in Forex: Trade Like a Pro Without Giving Up Your Day Job (Wiley Trading)
A practical guide to trading around the commitments of career and family
Making Money in Forex will help aspiring traders successfully enter this field while maintaining a job. With this book, author Ryan O’Keefe explains his own personal journey to becoming a trader and shows you how to follow a similar path.
O’Keefe describes his approach to trading and reveals his bargain hunting trading style, which is designed to capitalize on market trends. Throughout the book, O’Keefe pays a great deal of attention to trading psychology, learning to read price instead of indicators, and emphasizes that aspiring traders must find a strategy they are comfortable with and can implement with confidence.
- Addresses how you can successfully trade around the demands of your job and personal life
- Reveals the author’s “bargain hunting” style which can be used to reduce risk and maximize profit
- Discusses how common trade management techniques may impact overall performance
- Provides insights into structuring trading to minimize stress
Written in a straightforward and accessible style, Making Money in Forex utilizes a conservative approach to trading that will help you build your trading competency over time.
Foreign Exchange: A Practical Guide to the FX Markets (Wiley Finance)
Praise for Foreign Exchange
“Tim Weithers starts by telling the reader that foreign exchange is not difficult, just confusing, but Foreign Exchange: A Practical Guide to the FX Markets proves that money is much more exciting than anything it buys. This useful book is a whirlwind tour of the world’s largest market, and the tour guide is an expert storyteller, inserting numerous fascinating insights and quirky facts throughout the book.”
-John R. Taylor, Chairman, CEO and CIO, FX Concepts
“The book reflects the author’s doctorate from the University of Chicago, several years’ experience as an economics professor, and, most recently, a very successful decade as an executive at a huge international bank. These fundamental ingredients are seasoned with bits of wisdom and experience. What results is a very tasty intellectual stew.”
-Professor Jack Clark Francis, PhD, Professor of Economics and Finance, Bernard Baruch College
“In this book, Tim Weithers clearly explains a very complicated subject. Foreign Exchange is full of jargon and conventions that make it very hard for non-professionals to gain a good understanding. Weither’s book is a must for any student or professional who wants to learn the secrets of FX.”
-Niels O. Nygaard, Director of Financial Mathematics, The University of Chicago
“An excellent text for students and practitioners who want to become acquainted with the arcane world of the foreign exchange market.”
-David DeRosa, PhD, founder, DeRosa Research and Trading, Inc., and Adjunct Professor of Finance, Yale School of Management
“Tim Weithers provides a superb introduction to the arcana of foreign exchange markets. While primarily intended for practitioners, the book would be a valuable introduction for students with some knowledge of economics. The text is exceptionally clear with numeric examples and exercises that reinforce concepts. Frequent references are made to the economic theory behind the trading practices.”
-John F. O’Connell, Professor of Economics, College of the Holy Cross
Central Bank Intervention in Forex Market: An Indian Experience
The floating of the Indian rupee has seen a notable increase in the size and scale of intervention, with a marked increase in the purchases of dollars by the Reserve Bank of India (RBI). The switch to a floating exchange rate has been accompanied by an increase in volatility in most countries. But unlike the international experience, the volatility in India was not so marked. This once again points to the RBI?s intervention to manage volatility. So it has been seen that the RBI reacts to exchange rate volatility with the objective of stabilizing the nominal exchange rate and also corrects misalignment in the real exchange rates. Whereas it is not clear in theory how effective is foreign exchange intervention in controlling exchange rate volatility, the empirical results are mostly positive. In Indian context, not only the studies on central bank intervention are few but also the results are inconclusive in nature. To fill the gap, the study empirically examines how RBI intervention helps in reducing volatility, impacting the level of exchange rate and correcting misalignment of the exchange rate.
Foreign Exchange in Practice: The New Environment
Foreign Exchange in Practice, now in its 3rd edition, is the single reference to the foreign exchange market any financial practitioner needs to have. It explains the concepts involved in foreign exchange and their application to real-life situations. The book was originally developed as a textbook for the Citibank Bourse Course, an intensive course available to clients and staff of Citibank to improve their mastery of these complex markets. The course has been taught in 50 countries since 1975. This new edition includes the Euro amongst its currencies, expansion of material on interest rate concepts, exotic options and value at risk.
