Attacking Currency Trends. How to Anticipate and Trade Big Moves in the Forex Market. Wiley Trading

  • ID: 2241012
  • Book
  • 304 Pages
  • John Wiley and Sons Ltd
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ATTACKING CURRENCY TRENDS

Making money while limiting risk is something every good trader strives to do. But in order to achieve this goal you need a firm understanding of financial markets, as well as the tools that will allow you to effectively apply sound trading strategies in them.

Nobody understands this better than author Greg Michalowski a market veteran who has spent the last ten years with retail forex brokerage company FXDD and now, with Attacking Currency Trends, he shares his experience in this field with you. Following a step–by–step approach and progressing in a logical manner, this practical guide will help swing trading results in your favor by showing you how to better anticipate and attack the trend in currencies.

Divided into two comprehensive parts, this reliable resource opens with a detailed discussion of how to build a solid foundation for your currency trading. Here, you′ll become familiar with the attributes of all successful traders and discover the essential characteristics of retail currency traders. Along the way, you′ll also be introduced to specific elements that will allow you to excel in attacking forex trends namely a mission statement, a game plan, and rules.

After explaining how to develop a solid foundation, the book transitions into the technical tools and strategies used to anticipate and manage forex trends, define risk, and control fear. You′ll gain valuable insights into three main charting tools moving averages, trend lines and remembered lines, and Fibonacci retracements and learn why successful currency traders look at short–, intermediate–, and long–term time periods equally and trade using all three. Relevant examples are also included, highlighting how trading does not always have to be complicated.

Success in currency trading, as in any business, is based on building the right foundation and using the proper tools. Combining his years of trading experience with his knowledge of retail traders and the nuances of the currency market, Greg Michalowski has created an accessible trading guide that will help you minimize risk, keep fear in check, and capture consistent profits in today′s dynamic currency market.

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Acknowledgments.

Introduction.

Part I: The Foundation for Success.

Chapter 1: Stereotyping the Retail Forex Trader.

They Think Trading Forex Is Easy.

They Have Too Much Fear.

They Lose Money.

They Are Too Fundamental (Not Technical Enough).

They Don′t Know Enough about Key Fundamental Requirements.

They Fail to Anticipate Trends.

Don′t Be Like the Rest...Change!

Chapter 2: The Six Attributes of a Successful Trader.

What Are You Good at Doing?

There Will Always be Peaks and Valleys.

Skill or Aptitude.

Practice, Practice, Practice.

Know Your Risk.

Create and Execute a Plan.

Control Your Fear.

Be Greedy Enough.

A Foundation for Success.

Chapter 3: The Mission Statement.

A Team of One.

A Two–Part Mission Statement.

Finding Trades that Satisfy Your Mission Statement.

The Importance of Staying on Trend.

Chapter 4: What′s Your Game Plan?

Every Mission Statement Needs a Game Plan.

Trade the Trends.

Keep Fear to a Minimum.

Never Underestimate a Strong Foundation.

Chapter 5: Rules for Attacking the Trend.

Rule #1: Keep It Simple (but Stay Positive).

Rule #2: Have a Reason to Place a Trade.

Rule #3: Be Picky About Your Tools.

Rule #4: The If Should Rule.

Rule #5: Look Ahead, but Not Too Far Ahead.

Rules Rule.

Chapter 6: The Trader s Toolbox.

Rules for the Tools.

How to Use Fundamental Analysis.

The One Thing We Can Agree On: Price.

The Tools.

If I Had a Hammer.

Part II: Tools and Strategies.

Chapter 7: Moving Averages.

What is a Moving Average?

How to Use Moving Averages.

Time Frames for Analysis.

Anticipating a Trend.

Managing a Trend.

Managing Profits.

Trade Set–ups.

The Push that Gets the Market Going.

Chapter 8: Trendlines and Remembered Lines.

Bullish Trendlines.

Bearish Trendlines.

Channels: Highways to Ride the Trend.

Flags and Pennants.

Finding the Golden Ticket.

Remembered Lines.

Simple but Effective.

Chapter 9: Fibonacci Retracements: The Hybrid Tool.

Introduction to Fibonacci.

Placing Retracements on a Chart.

Using Fibonacci Retracements.

Trading Shorter Term Corrections.

Using the Tools to Your Best Advantage.

Chapter 10: Preparing for the Trade.

First Things First.

Analyzing the Charts.

A Composite View of the Clues.

Is it a Boy or a Girl, Doc? .

Chapter 11: Executing the Plan.

The Kickoff: The Entry Trade.

Managing the Trade.

Finding Clues in the Consolidation Phase.

A Borderline: Always a Low Risk, Unambiguous Level.

Another Trend Re–entry.

The Key Role of Borderlines in Hourly and Daily Charts.

Attack the Currency Trend.

About the Author.

Index.

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Greg Michalowski
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