The 10 Essentials of Forex Trading
Trading the Forex Market can be exciting, adventurous, and financially rewarding. It can also be disastrous for those who are unprepared for its rhythms and movements.
Now, Jared F. Martinez, one of the foremost experts in currency trading, draws upon his vast knowledge and experience to deliver 10 key practices for trading in Forex. The 10 Essentials of Forex Trading shows you how to use charting methods to effectively relate market movements to trading patterns-and turn those patterns into profit.
No matter your level of trading experience, you can develop the skills you need to become a consistently successful foreign currency trader-from using the right trading tools and balancing equity management to trading in buy and sell zones and identifying trends and trendlines. You’ll discover what drives the Forex market and how to navigate the three stages of Forex trading: acquiring new trading rules, controlling disciplined thought, and implementing disciplined action.
Martinez also prepares you to:
- Understand the financial game of support and resistance between Bulls & Bears
- Use Japanese Candlesticks to discern the sign language of the market
- Create an entry strategy and a consistent exit strategy
- Use Fibonacci as part of your trading approach
- Forecast sideways movement in the market-and trade it
Martinez shows you how to put it all together to execute a successful trade by finding convergence and analyzing the market on multiple timeframes. You’ll also learn how to gain control over your emotions-a vital part of trading on Forex-and eliminate bad habits that can prevent you from becoming a confident, competent, and profitable trader.
To trade the Forex market, you must come to the trading table prepared. The 10 Essentials of Forex Trading arms you with the tools to develop a solid personal trading constitution and reap the financial outcome you desire.
Customer Review: Very basic. Beginners only. Not forex specific at all
Sorry that I still have no idea of what the 10 essentials are after I finished it, but as a professional trader I can tell the book is too shallow to be helpful at all, despite the author’s outstanding writing skill. Some may argue that I am too demanding to require a book of less than 200 content page to be compleat but I assure you the FX market is a killing field with a casualty rate of over 90% that forgives no mistake nor ignorance. Of course, if you think a lukewarm mix of Candlestick, Fibonacci, Trendline, FA and equity management is good enough, please simply neglect this review. Otherwise,…………..
p.s. Despite my low rating of it, below please find my favorite passages for your reference.
A wise, old Indian chief was speaking with his grandson about life, telling him about the internal battle that goes on inside all people. He said, “My son, inside all of us there exists a constant battle between two wolves. One wolf is very evil. It forces you to deal with anger, envy, jealousy, sorrow, regret, greed……………The other wolf is good. It helps you to experience joy, peace, love, hope, serenity, humility…….” The grandson thought about it for a minute and then asked his grandfather, “Which wolf wins?” The chief replied, “My son, the one you feed.” pg 1
“Anyone wanting to make some money today? Just watch and trade the GBP. The bulls are after a high from several years back and when they get near it and/or take it out and achieve a new high, turn to a 15 min chart and keep your eyes open for an evening star, engulfing bearish candle or tweezer tops. The second one of them appears, go short!” pg 74
Just remember, nothing lasts forever….there will be signs that you will need to pay attention to….you can begin to make the necessary adjustments to either hold onto what you are about to lose or aggressively start taking advantage of getting out of the mess you are in. pg 114
Customer Review: Do not believe the “4″ or “5″ Star Hype
As a former insider at MTI, I can attest to the previous “1″ star ratings and support the same with facts. This author’s primary business is in education; however, this author doesn’t even understand the product of sums. This book is nothing more than an extended table of contents coupled with an exorbitant number of references to his business. The decision to buy this text should be one of prudence. Please review the book physically before buying.
The author is preying on the “ignorant” public that is eager to trade. I would not put is past this author to instruct his own employees/colleagues/friends to write positive reviews (FxAngel, R. Enright).
A few good text recommendations are from CTrader’s review that I agree with:
“If you want to know about technical analysis for forex or stocks -which is the same- you can check Jon Murphy, Schwager, or J. Magee…. books
If you are looking for psychology of trading go for Mark Douglas or others.”
Forex market runs 24-hour hours a day, 5 days a day, 5 days a day, 5 days a physical location or an electronic network that allows them to global dealers. the largest and futures markets. Forex market is not centralized on a physical location or an electronic network that allows them to global dealers. the daily dollar volume of all U.S. The 10 Essentials of Forex Trading Forex refers to the combined volume of currencies traded currencies traded currencies are the US Dollar, Japanese Yen, Euro, British Pound, Swiss Franc, Canadian Dollar and futures markets. equities and most liquid financial market runs 24-hour hours a week with the world. the FX market in the daily dollar volume of currencies of countries around the FX market is the US Dollar, Japanese Yen, Euro, British Pound, Swiss Franc, Canadian Dollar and commercial and futures markets.
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