Forex Essentials in 15 Trades The Global-View.com Guide to Successful Currency Trading
by Bland, John; Meisler, Jay M.; Archer, Michael D.Edition: 1st
Format: Hardcover
Pub. Date: 2009-03-09
Publisher(s): Wiley
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Summary
Traders are constantly learning their craft. Those who do not share information, discuss tactics and review prior trades are doomed for failure. Global-View.com knows this. It is the leading destination for Forex traders looking to learn and discuss trading. With over 33,000 registered users from 125 countries, Global-View.com exposes its users to an incredible base of knowledge.In this book, the authors dissect each of 15 chosen trades, using the material to expose some of the best (and worst) practices of a Forex trader. The book weaves a plethora of Global-View.com information into the detailed dissection. Each description will include how the trade was selected and why it was made, as well as money management and psychological aspects of the trade. Entertaining anecdotal stories are interspersed throughout each trade story.
Author Biography
John M. Bland is cofounder of Global-View.com. Prior to this, he was a bank forex consultant, fund manager, and independent trader.
Jay M. Meisler is cofounder of Global-View.com. Prior to this, he was an interbank dealer, fund manager, and independent trader.
Michael D. Archer has been involved in the futures and FOREX markets for three decades as a trader, writer, money manager, and systems developer.
Table of Contents
| Preface | |
| How This Book Is Organized | |
| Beyond the Book: The GVI Forums | |
| Ready to Go | |
| Introduction | |
| Origins of Global-View | |
| The Goals of Global-View | |
| Why an Open FOREX Forum? | |
| Forum Rules of Behavior | |
| How to Use the Forums | |
| GVI Professional: A Special Forum | |
| Additional Trader Support | |
| As You Go Forward | |
| The Basics of FOREX | |
| An Introduction to FOREX | |
| FOREX First Steps: What is it? | |
| Why Trade FOREX? | |
| FOREX Terms | |
| FOREX Calculations | |
| Market Conventions | |
| Quoting Conventions | |
| Elements of a Trade Plan | |
| Summary | |
| The Importance of Money Management | |
| CFTC Warning | |
| Key to Success as a Trader: Preserve Your Capital | |
| What Is Leverage? | |
| Example of a Hypothetical Trade | |
| Money Management Rules | |
| Use Stop Losses | |
| How Much to Risk on a Trade | |
| Ready to Trade? | |
| Summary | |
| Technical Trading | |
| What is Technical Analysis? | |
| The Technical Analysis Landscape | |
| Summary | |
| Fundamentals for FOREX Trading | |
| What is Fundamental Analysis? | |
| All Price Moves are not Created Equal | |
| Interest Rates | |
| Typical Fundamental Market Frameworks | |
| Trading in a Crisis Economy | |
| Summary | |
| Trading the News | |
| Caveat Emptor (Let the Buyer Beware) | |
| Market Orders | |
| Trading the News - Complex and Risky Do Your Homework | |
| Popular Releases for News Traders | |
| Summary | |
| Trader Profiles Good Traders, Bad Traders | |
| What Is Your Trader Profile? | |
| Good Trader versus Bad Trader | |
| Summary | |
| Selecting a FOREX Broker | |
| Broker-Dealer Due Diligence | |
| The First Decision: Market-Maker or Electronic Communications Network (ECN?Broker-Dealer Spotlight | |
| Third-Party Services | |
| After the Demo Account | |
| Summary | |
| 15 Trades and Their Stories | |
| Heuristic-Based Trading | |
| The Snowflake Trading Heuristic | |
| A KIS (Keep It Simple) System | |
| Summary | |
| Trade #1: A Symphony of Numbers Money Management | |
| The Six Components of Money Management | |
| The Campaign Trading Method | |
| Analyzing the Trade | |
| Summary | |
| Trade #2: Know When to Hold Them...Money Management | |
| The Bounce | |
| Analyzing the Trade | |
| Summary | |
| Trade #3: Scaling the Wall Money Management | |
| The Dagger | |
| Analyzing the Trade | |
| Market Thickness | |
| Summary | |
| Trade #4: The Trend is Your Friend Money Management | |
| Trend Components | |
| The Matrix | |
| How Do You Determine the Major Trend? | |
| Market Environments | |
| Analyzing the Trade | |
| Summary | |
| Trade #5: Don't be a Flatlander Money Management | |
| The Three Chart System | |
| The Importance of Perspective | |
| Analyzing the Trade | |
| Summary | |
| Trade #6: Sit on Your Hands Psychology | |
| Trading Versus Holding | |
| Analyzing the Trades | |
| Summary | |
| Table of Contents provided by Publisher. All Rights Reserved. |
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