Forex Patterns and Probabilities: Trading Strategies for Trending and Range-Bound Markets (Google eBook)

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John Wiley & Sons, Dec 29, 2010 - Business & Economics - 272 pages
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While most books on trading deal with general concepts and shy away from specifics, Forex Patterns and Probabilities provides you with real-world strategies and a rare sense of clarity about the specific mechanics of currency trading. Leading trading educator Ed Ponsi will explain the driving forces in the currency markets and will provide strategies to enter, exit, and manage successful trades. Dozens of chart examples and explanations will guide you each step of the way and allow the reader to "look over the shoulder" of a professional trader hard at work at his craft.

This book provides traders with step-by-step methodologies that are based on real market tendencies. The strategies in this book are presented clearly and in detail, so that anyone who wishes to can learn how to trade like a professional. It is written in a style that is easy to understand, so that the reader can quickly learn and use the techniques provided.

  

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Contents

FROM STOCKS TO FOREX
GETTING TO WALL STREET
FOOTBALL AND FOREX
WELCOME TO FOREX
A NEW BEGINNING
THE CANADIAN DOLLAR AND THE US DOLLAR
THE EURO AND THE US DOLLAR
TRADING TERMINOLOGY
DENOUEMENT
8-50
THE NEWS VERSUS THE TREND
8-51
APPEARANCES CAN BE DECEIVING
8-52
MORE THAN ONE CHANCE
8-54
PARTIAL EXIT EXERCISE
8-55
DISCRETIONARY AND STRATEGIC EXITS
8-56
PARTIAL EXIT TECHNIQUE
8-57
RELOADING
8-58

AN EASY WAY TO UNDERSTAND THE EXCHANGE RATE
WHY DOES THE BIG MONEY TRADE FOREX?
HOW DO TRADERS MAKE MONEY IN THE FOREX MARKET?
HOW CAN I TRADE TWO CURRENCIES AT ONE TIME?
GREENWICH MEAN TIME
THE THEORY BEHIND TECHNICAL ANALYSIS
FEAR OF THE UNKNOWN
THE PSYCHOLOGY BEHIND THE MARKET
MOVING BEYOND TECHNICAL ANALYSIS
TRENDS
FIBONACCI TECHNIQUES
THE TRIPLE THREAT TRADER
GAINING EXPERIENCE
COMMODITY CURRENCIES
DONT LIMIT YOURSELF
TRADING AND KARMA
TRADING CONDITIONS
iii
THE IMPORTANCE OF MAINTAINING OBJECTIVITY
v
BEGIN WITH A TENDENCY
vi
PUTTING THE TREND TO WORK
viii
HOW TO DETERMINE IF THE MARKET IS TRENDING
ix
WHY TRENDS FORM
xi
DONT FIGHT THE TREND
xiii
WHY DOES IT WORK?
8-2
COMBINING FIBONACCI AND TREND
8-4
OVERBOUGHT DOES NOT EQUAL SELL
8-5
PICKING TOPS AND BOTTOMS
8-7
PLACING THE STOP
8-8
WELCOME TO THE REAL WORLD
8-10
EXECUTING THE PLAN
8-14
SECONDGUESSING
8-15
THE DEVILS ADVOCATE
8-16
WHEN TO STAY OUT
8-17
RELOADING THE TRADE
8-18
FANTASY VERSUS REALITY
8-22
PHANTOM SIGNAL
8-23
TEMPORARY SUCCESS AND FAILURE
8-24
THE STOP RUN
8-25
TRENDS ARE SELFSUSTAINING
8-32
BIG MONEY AT WORK
8-33
LONG OR SHORT
8-34
IDENTIFYING THE TREND
8-35
FILTERING THE TREND
8-36
THE CATALYST
8-39
COMPARING APPLES TO APPLES
8-41
THE ENTRY
8-42
THE STOP
8-43
DONT FISH FOR MINNOWS
8-48
BACK TO THE TRADE
8-49
FINAL THOUGHTS
8-59
THE PRICE IS THE KEY
10-2
WHY SUPPORT BECOMES RESISTANCE
10-5
PRICE ACTION
10-7
DONT STAND IN FRONT OF A FREIGHT TRAIN
10-8
ASCENDING AND DESCENDING TRIANGLES
10-12
TREND FILTER
10-13
TIMEOFDAY FILTER
10-14
SUMMARY
12-2
PENNANTS
12-3
FLAGS
12-10
FILTERING ENTRIES
12-13
SUMMARY
12-16
THE CYCLE OF VOLATILITY
12-17
VOLATILITY BREAKOUT STRATEGY
13-6
WHY ROUND NUMBERS CAPTURE OUR ATTENTION
13-11
ROUND NUMBERS AND FOREX
13-12
THE FIRST BOUNCE IS THE BEST BOUNCE
13-13
THE STRATEGY IN ACTION
13-15
THINK LIKE THE BIG BOYS
13-22
HERES HOW IT WORKS
13-23
WHATS THE BIG DEAL?
13-24
US DOLLARJAPANESE YEN
13-25
LONGTERM PLAY
13-26
LOOKING AHEAD
13-27
FADING FALSE BREAKOUTS
13-28
SETTING THE PARAMETERS
13-29
SIMPLE BUT EFFECTIVE
13-31
KEEP YOUR EYES ON THE ROAD
13-34
PROPER GOAL SETTING
13-35
BREAKING DOWN YOUR GOALS
13-36
WHAT HAPPENS WHEN I REACH MY GOAL?
13-37
EVENING THE ODDS
13-39
MAKE THE PLAYING FIELD BIGGER
13-40
LETS DO THE MATH
13-41
WHY DOESNT EVERYONE DO IT?
13-42
WHAT WE CAN LEARN FROM THE SMART MONEY
13-43
PANIC AT THE BEACH
13-44
THE ENDLESS TOURNAMENT
13-45
SARCASM ALERT
13-47
KNOW WHEN TO RETREAT
13-48
BEWARE THE BACK TESTER
13-49
INDIVIDUALS VERSUS INSTITUTIONS
13-51
THE DIFFERENCE BETWEEN AMATEURS AND PROFESSIONALS
13-52
A GOOD TRADE IS NOT THE SAME THING AS A WINNING TRADE
13-53
TAKE RESPONSIBILITY FOR YOUR ACTIONS
13-54
IN CLOSING
13-55
Copyright

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About the author (2010)

Ed Ponsi is the President of FXEducator.com and is the former chief trading instructor for Forex Capital Markets. He is an experienced professional trader and money manager who has advised hedge funds, institutional traders, and individuals of all levels of skill and experience. Ponsi is featured on the FXEducator.com DVD series, Forex Trading with Ed Ponsi. He is a dynamic public speaker who has appeared on numerous television and radio programs, and is a frequent guest lecturer at trading conventions and seminars around the world.

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