Thirty Days of FOREX Trading E-Book

Raghee Horner

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

Seitenzahl: 321

Veröffentlichungsjahr: 2006

Beschreibung

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 desire--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 you--through Horner's firsthand examples--how to enter the forex market with confidence and exit with profits.

Leseprobe

Contents

Title

Copyright

Acknowledgments

Introduction

The Thirty Days of Trading

Day 1: Tuesday, January 31st

Day 2: Wednesday, February 1st

Day 3: Thursday, February 2nd

Day 4: Friday, February 3rd

Day 5: Monday, February 6th

Day 6: Tuesday, February 7th

Day 7: Wednesday, February 8th

Day 8: Thursday, February 9th

Day 9: Friday, February 10th

Day 10: Sunday, February 12th

Day 11: Monday, February 13th

Day 12: Tuesday, February 14th

Day 13: Wednesday, February 15th

Day 14: Thursday, February 16th

Day 15: Friday, February 17th

Day 16: Monday, February 20th

Day 17: Tuesday, February 21st

Day 18: Wednesday, February 22nd

Day 19: Thursday, February 23rd

Day 20: Friday, February 24th

Day 21: Monday, February 27th

Day 22: Tuesday, February 28th

Day 23: Wednesday, March 1st

Day 24: Thursday, March 2nd

Day 25: Friday, March 3rd

Day 26: Sunday, March 5th

Day 27: Monday, March 6th

Day 28: Tuesday, March 7th

Day 29: Wednesday, March 8th

Day 30: Thursday, March 9th

Conclusion

Conversation with Raghee Horner

About the CD-ROM

Index

Download CD/DVD content

Founded in 1807, John Wiley & Sons is the oldest independent publishing company in the United States. With offices in North America, Europe, Australia, and Asia, Wiley is globally committed to developing and marketing print and electronic products and services for our customers’ professional and personal knowledge and understanding.

The Wiley Trading series features books by traders who have survived the market’s ever changing temperament and have prospered—some by reinventing systems, others by getting back to basics. Whether a novice trader, professional, or somewhere in-between, these books will provide the advice and strategies needed to prosper today and well into the future.

For a list of available titles, visit our web site at www.WileyFinance.com.

Copyright © 2006 by Superior Management LLC, d/b/a In Touch Marketing, and Raghee Horner. All rights reserved.

Published by John Wiley & Sons, Inc., Hoboken, New Jersey.

Published simultaneously in Canada.

eSignal charts used with permission of eSignal, www.esignal.com.

No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, [phone], fax [phone], or on the Web at www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, [phone], fax [phone], or online at http://www.wiley.com/go/permissions.

Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose. No warranty may be created or extended by sales representatives or written sales materials. The advice and strategies contained herein may not be suitable for your situation. You should consult with a professional where appropriate. Neither the publisher nor author shall be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential, or other damages.

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Library of Congress Cataloging-in-Publication Data:

Horner, Raghee.

Thirty days of forex trading : trades, tactics, and techniques / Raghee Horner.

p. cm.

Includes index.

ISBN-13 978-0-471-93441-7 (cloth/cd-rom)

ISBN-10 0-471-93441-0 (cloth/cd-rom)

1. Foreign exchange market. 2. Foreign exchange futures. 3. Speculation. I. Title.

HG3851.H674 2006

332.4′50973—dc22 2006014052

Acknowledgments

There are people who are set on this earth to make all things they touch better than they found them. Some of us can walk the earth all our lives and not find a single one of these special people. I have been lucky enough to have found one, and she’s my sister Nila. Nila, you’re the best person I know.

I love adventure, and I know life, like trading, can be risky. But loving someone is the biggest and most rewarding risk of all. To my best friend Herbie, I love you more than yesterday and will love you more tomorrow.

I want to be the person you think I can become, Ma.

Special thanks:

To my unsung hero, Chris Kyrza, as brilliant as he is an all-around good guy. You always humor me when I ask, “Chris, can we do this with the charts?” And somehow, no matter how impossible it may seem, you figure it out, buddy!

To my friends at eSignal, Raphel Finelli and Marisa Arnold . . . and that Quotrek that I can’t seem to get enough of. I love brainstorming with you, Raphel! I’m always smarter after one of our chats. (I need to call you soon!) And it’s great to have you back, Marisa!

To my good friend Robert Ruiz, the never-tiring supporter of “The Raghee Way” . . . my ambassador of verisimilitude.

To my friends at Gain Capital, Todd Gordon, Samantha Roady, Elissa Fulop, and Glenn Stevens. Did I mention I am the founder of the Todd Gordon Fan Club?

To Jayanthi Gopalakrishnan and Stocks & Commodities magazine.

To Tim Bourquin and the Forex Trading Expo.

To the Body for Life team and champs. Thanks, Porter, Marc, Jerry, and Gregg.

To Jeff Gibby at Metastock.

To Derek Gehl and the staff at the Internet Marketing Center.

To my friends over at one of the coolest sites on the Internet, Forex TV. Hey, Julie, Sara, and Jason—we’ve got to go out again when I get to New York City!

And to my “trading partner” of nine years, my puppy dog, Shana. I miss your fuzzy little face.

Raghee Horner

INTRODUCTION

The Mechanics of Trading

NO ONE IS BORN KNOWING HOW TO TRADE

Thanks for joining me for these next 30 days. You and I are going to be sitting down together and examining foreign exchange (forex) setups on a number of time frames. In the trading day chapters themselves I assume that you know a little about charting and execution and also the way I analyze the markets; however, if you need a refresher on trend lines, support, resistance, and so on, I do have free video available at my Raghee.com web site. So the first part of this book is what I endearingly have called “the brain dump.” Here I discuss all the ideas that you will see carried through into the trading days: the trades, tactics, and techniques. I also have to mention that while you are reading this and whenever you may decide to put this information to use, use it as is. Don’t add or subtract anything from it. I haven’t left anything out; there is no secret indicator I have kept from you. Just use the tools and rules I explain and try not to change them, if for no other reason than before you can make something better, you first must have a foundation. You can’t change something for the better unless you already know it. Please play and win by the rules before you go about changing the rules.

This entire book is part instruction, part trading journal. The main focus is on forex, but I want to get across one message if nothing else: I trade all markets with these tools. I trade momentum and swing setups the same way regardless of whether that setup is on forex, futures, or the stock market.

The time frames may differ as well as the “hot zones” that move the particular market. In the end, though, it’s the same “Three Classic Tools to a Three-Step Setup,” and that doesn’t change. Recently I was interviewed for an article about my trading approach. I spent a good 20 minutes explaining to the author that I was a chartist and that meant that I relied on price and not on fundamental data or news. I thought I got my point across well until I read what was printed in the article.