The Forex Trading Course E-Book

Abe Cofnas

• Herausgeber: John Wiley & Sons
• Kategorie: Fachliteratur
• Serie: Wiley Trading Series
• Sprache: Englisch

Seitenzahl: 321

Veröffentlichungsjahr: 2015

Beschreibung

EXPERT, DEPENDABLE FOREX COACHING--UPDATED TO KEEP YOU AHEAD IN AN EVOLVING MARKET The Forex Trading Course is the systematic guide aspiring traders need to enter the market with the confidence and skills necessary to generate wealth. Masterfully written so both basic and complex concepts are readily accessible, this all-inclusive training tool outlines a practical course of action to develop strategies integrating fundamental and technical analysis. It also demonstrates how to identify high-probability patterns and trades, adjust your trading plan for different account sizes, use emotional intelligence to improve trading performance, and much more. This second edition is fully revised to address: * Changes brought about by quantitative easing and central bank intervention--including greater spikes and disruptions in the forex and the influence of global growth and inflation on the market * Using binary options with forex trades to make accurate predictions on direction, targets, and stops * Social media trading and how to navigate herding behavior and swarming patterns * The latest insights and trends in cryptocurrencies such as Bitcoin Complete with practice assignments to reinforce the material and a supplemental website to enhance your knowledge, The Forex Trading Course, Second Edition unlocks your optimal potential for profitable currency trading.

Leseprobe

Table of Contents

Title Page

Copyright

Preface

About the Author

Part I: What Drives the Forex Market?

Chapter 1: The Fundamentals of Forex

Why Fundamentals Are Important

The Main Ingredient: Interest Rates and Interest Rate Expectations

The Role of Housing Data in Forex Price Movements

Housing Data as a Leading Indicator

Housing Sentiment Indicators

Also Watch Housing Equity Sector Stocks

Housing Data and Global Currencies

Summary

Chapter 2: The Role of Inflation, Reflation, and Deflation

Detecting Expected Inflation

Inflation Measures in the United States

Deflation: Euro and Yen Watch

Chapter 3: Exploiting Information about Economic Growth

Importance of Job Data

The Role of Crude Oil and Petrodollars

The Oil Shale Revolution

Economic Growth

Word Frequency as a Predictor of Recession

Chapter 4: The China Factor

China Revalues Yuan: A Turning Point?

Importance of Chinese Dollar Reserves

Chapter 5: The Commodities Connection: Gold, Copper, Commodity Index, Equities, and Forex

Gold

Copper

Equities and Forex

Currency ETF

Chapter 6: How Business Confidence and Consumer Sentiment Affect the Market

Chapter 7: Fundamental Personalities of Currencies

Tracking Currency Trading Relationship: Who Is in the Trading Partnerships?

Characteristics of Different Currencies

The World Economy—The Macro View and Forex Trading

Chapter 8: The Personality and Performance of the US Dollar

Structure of the USDX

US Foreign Debt and Who Buys US Assets

Chapter 9: Conducting Your Own Fundamental Analysis

Detecting Market Emotions: Sentiment Analysis

Balance of Fears

Direct Emotional Search Terms

Developing a Sentiment-Based Outlook

Sentiment Outlook Checklist

Part II: Timing the Trade with Technical Analysis

Chapter 10: Mapping Price Action

Projecting Horizontal Support and Resistance Points

Trend Lines

Confirming and Detecting Trend Changes: Three-Line Break Charts

Spotting Micro Changes in Trend Sentiment: Renko Charts

Chapter 11: Finding Significant Support and Resistance

Fibonacci Levels of Support and Resistance

Which Time Intervals Should We Choose?

The Music of Forex

Fibonacci Tones

Pivot Point Support and Resistance

Psychological Support and Resistance

New Sources for Expected Sentiment Support and Sentiment Resistance

Price and Time in Forex

Chapter 12: Volatility in Forex and Its Dimensions

14 Key Technical Indicators

Volume Indicators: A Key Missing Element in Spot Forex

Trend-Related Indicators

Moving Average Crossovers

Moving Average Rainbows—Multiple Moving Averages

Momentum Indicators and Oscillators

Relative Strength Indicator (RSI)

The Stochastic Group of Indicators

Volatility/Resistance and Support Indicators

Optimizing Your Use of Indicators

Turning a Trading Idea into a Trading System

Using Trading Signals

Conclusion

Chapter 13: Chart Formations and Price Patterns You Should Know

Emotional Contagion and Patterns for Trading Forex

Surprise, Greed, and Exhaustion

Frustration in the Charts

Stability: The Channel Pattern

Time as a Tool of Analysis: Multiple Time Frames

Summary

Chapter 14: Trading Styles and Strategies

Bounce Trader

Intraday Trader

Trend Trader

Scalper

Set-and-Forget Trader

Carry Trader: Coming Back

The Sudden-Event Trader

News Trader

Summary

Chapter 15: Stops, Limits, and Tactics for Risk Control

Strategies for Stop Losses and Profit Limits—Essential Components of Risk Control

Trailing Stops

Profit Limits

Sentiment Stops and Sentiment Limits

Multilot Trading

Summary

Part III: Putting It Together

Chapter 16: Transitioning to Real Trading

When Simulation Can Work

When Simulation Doesn't Work

How to Use a Simulated Account

Preparing to Trade

Summary

Chapter 17: Strategies and Challenges for Different Account Sizes

Level 1: The $5000 First-100-Trade Challenge

Level 2: The $10,000 First-50-Trade Challenge

Level 3: The $25,000 First-50-Trade Challenge

Level 4: The $50,000 75-Trade Challenge

Level 5: The $100,000 Trading Challenge

Summary

Chapter 18: Paths to Success in Forex Trading

Factors in Choosing a Firm