You are previewing 7 Winning Strategies For Trading Forex: Real and actionable techniques for profiting from the currency markets.
O'Reilly logo
7 Winning Strategies For Trading Forex: Real and actionable techniques for profiting from the currency markets

Book Description

Many traders go around searching for that one perfect trading strategy that works all the time in the global FOREX (foreign exchange/currency) market. Frequently, they will complain that a strategy doesn't work. Few people understand that successful trading of the FOREX market entails the application of the right strategy for the right market condition. 7 Winning Strategies For Trading Forex covers: - Why people should be paying attention to the FOREX market, which is the world's largest and most liquid financial market - How understanding the structure of this market can be beneficial to the independent trader - How to overcome the odds and become a successful trader - How you can select high-probability trades with good entries and exits. Grace Cheng highlights seven trading strategies, each of which is to be applied in a unique way and is designed for differing market conditions. She shows how traders can use the various market conditions to their advantage by tailoring the strategy to suit each one. This revealing book also sheds light on how the FOREX market works, how you can incorporate sentiment analysis into your trading, and how trading in the direction of institutional activity can give you a competitive edge in the trading arena. This invaluable book is ideal for new and current traders wanting to improve their trading performance. Filled with practical advice, this book is a must-read for traders who want to know exactly how they can make money in the FOREX market.

Table of Contents

  1. Cover
  2. Publishing details
  3. About The Author
  4. Preface
    1. Who this book is for
    2. About this book
    3. How this book is structured
    4. Risk disclosure
    5. Further information
  5. Introduction
    1. 2: Spot Forex Market Structure
      1. Market Players
      2. How the OTC Structure Affects Self-Directed Traders
      3. Summary
    2. 3: How To Overcome The Odds Of Trading Forex
      1. Mind
      2. Money
      3. Method
      4. Summary
    3. 4. The Ten Rules For Forex Trading
    1. 5: Strategy 1 – Market Sentiment
      1. What Is Market Sentiment?
      2. What Factors Influence Market Sentiment?
      3. Ways of Measuring Market Sentiment
      4. Summary
    2. 6: Strategy 2 – Trend Riding
      1. Time Frames of Trends
      2. Trend Directions
      3. Stages of a Trend
      4. Using Currency Price Charts
      5. Measuring trend strength
      6. Technical Execution Of The Strategy
      7. Summary
    3. 7: Strategy 3 – Breakout Fading
      1. The Crowd Likes to Trade Breakouts
      2. Why Most Breakouts Fail
      3. Tricks of Institutional Dealers and Traders
      4. Lack of fresh blood
      5. Identifying The Opportunities
      6. Chart patterns
      7. Best market condition to fade breakouts
      8. Summary
    4. 8: Strategy 4 – Breakout Trading
      1. Types of Breakouts
      2. Measuring Reversal Breakouts
      3. Using momentum indicators
      4. Identifying the Opportunities
      5. Chart patterns
      6. Filtering False Breakouts
      7. Summary
    5. 9: Strategy 5 – Decreased Volatility Breakout
      1. The Volatility Rollercoaster
      2. Ways of Measuring Volatility
      3. Triangles
      4. Technical execution of the strategy
      5. Further strategy enhancement
      6. Summary
    6. 10: Strategy 6 – Carry Trade
      1. What Is A Carry Trade?
      2. More Money Will Follow The Money
      3. Factors Supportive Of Carry Trades
      4. Risks Involved In Carry Trade
      5. Points of Entry
      6. Summary
    7. 11: Strategy 7 – News Straddling
      1. The Importance of News
      2. Market’s Reaction to News
      3. Identifying the Opportunities
      4. Note the schedule of news releases
      5. Which currency pair to trade for this strategy?
      6. Technical considerations
      7. Summary
  8. Appendices
    1. Currency Codes