You are previewing The Forex Trading Course: A Self-Study Guide to Becoming a Successful Currency Trader, 2nd Edition.
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The Forex Trading Course: A Self-Study Guide to Becoming a Successful Currency Trader, 2nd Edition

Book Description


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.

    Table of Contents

    1. Title Page
    2. Copyright
    3. Preface
    4. About the Author
    5. Part I: What Drives the Forex Market?
      1. Chapter 1: The Fundamentals of Forex
        1. Why Fundamentals Are Important
        2. The Main Ingredient: Interest Rates and Interest Rate Expectations
        3. The Role of Housing Data in Forex Price Movements
        4. Housing Data as a Leading Indicator
        5. Housing Sentiment Indicators
        6. Also Watch Housing Equity Sector Stocks
        7. Housing Data and Global Currencies
        8. Summary
      2. Chapter 2: The Role of Inflation, Reflation, and Deflation
        1. Detecting Expected Inflation
        2. Inflation Measures in the United States
        3. Deflation: Euro and Yen Watch
      3. Chapter 3: Exploiting Information about Economic Growth
        1. Importance of Job Data
        2. The Role of Crude Oil and Petrodollars
        3. The Oil Shale Revolution
        4. Economic Growth
        5. Word Frequency as a Predictor of Recession
      4. Chapter 4: The China Factor
        1. China Revalues Yuan: A Turning Point?
        2. Importance of Chinese Dollar Reserves
      5. Chapter 5: The Commodities Connection: Gold, Copper, Commodity Index, Equities, and Forex
        1. Gold
        2. Copper
        3. Equities and Forex
        4. Currency ETF
      6. Chapter 6: How Business Confidence and Consumer Sentiment Affect the Market
      7. Chapter 7: Fundamental Personalities of Currencies
        1. Tracking Currency Trading Relationship: Who Is in the Trading Partnerships?
        2. Characteristics of Different Currencies
        3. The World Economy—The Macro View and Forex Trading
      8. Chapter 8: The Personality and Performance of the US Dollar
        1. Structure of the USDX
        2. US Foreign Debt and Who Buys US Assets
      9. Chapter 9: Conducting Your Own Fundamental Analysis
        1. Detecting Market Emotions: Sentiment Analysis
        2. Balance of Fears
        3. Direct Emotional Search Terms
        4. Developing a Sentiment-Based Outlook
        5. Sentiment Outlook Checklist
    6. Part II: Timing the Trade with Technical Analysis
      1. Chapter 10: Mapping Price Action
        1. Projecting Horizontal Support and Resistance Points
        2. Trend Lines
        3. Confirming and Detecting Trend Changes: Three-Line Break Charts
        4. Spotting Micro Changes in Trend Sentiment: Renko Charts
      2. Chapter 11: Finding Significant Support and Resistance
        1. Fibonacci Levels of Support and Resistance
        2. Which Time Intervals Should We Choose?
        3. The Music of Forex
        4. Fibonacci Tones
        5. Pivot Point Support and Resistance
        6. Psychological Support and Resistance
        7. New Sources for Expected Sentiment Support and Sentiment Resistance
        8. Price and Time in Forex
      3. Chapter 12: Volatility in Forex and Its Dimensions
        1. 14 Key Technical Indicators
        2. Volume Indicators: A Key Missing Element in Spot Forex
        3. Trend-Related Indicators
        4. Moving Average Crossovers
        5. Moving Average Rainbows—Multiple Moving Averages
        6. Momentum Indicators and Oscillators
        7. Relative Strength Indicator (RSI)
        8. The Stochastic Group of Indicators
        9. Volatility/Resistance and Support Indicators
        10. Optimizing Your Use of Indicators
        11. Turning a Trading Idea into a Trading System
        12. Using Trading Signals
        13. Conclusion
      4. Chapter 13: Chart Formations and Price Patterns You Should Know
        1. Emotional Contagion and Patterns for Trading Forex
        2. Surprise, Greed, and Exhaustion
        3. Frustration in the Charts
        4. Stability: The Channel Pattern
        5. Time as a Tool of Analysis: Multiple Time Frames
        6. Summary
      5. Chapter 14: Trading Styles and Strategies
        1. Bounce Trader
        2. Intraday Trader
        3. Trend Trader
        4. Scalper
        5. Set-and-Forget Trader
        6. Carry Trader: Coming Back
        7. The Sudden-Event Trader
        8. News Trader
        9. Summary
      6. Chapter 15: Stops, Limits, and Tactics for Risk Control
        1. Strategies for Stop Losses and Profit Limits—Essential Components of Risk Control
        2. Trailing Stops
        3. Profit Limits
        4. Sentiment Stops and Sentiment Limits
        5. Multilot Trading
        6. Summary
    7. Part III: Putting It Together
      1. Chapter 16: Transitioning to Real Trading
        1. When Simulation Can Work
        2. When Simulation Doesn't Work
        3. How to Use a Simulated Account
        4. Preparing to Trade
        5. Summary
      2. Chapter 17: Strategies and Challenges for Different Account Sizes
        1. Level 1: The $5000 First-100-Trade Challenge
        2. Level 2: The $10,000 First-50-Trade Challenge
        3. Level 3: The $25,000 First-50-Trade Challenge
        4. Level 4: The $50,000 75-Trade Challenge
        5. Level 5: The $100,000 Trading Challenge
        6. Summary
      3. Chapter 18: Paths to Success in Forex Trading
        1. Factors in Choosing a Firm
        2. Gauging Performance: Know Thyself
        3. Measuring Emotional Intelligence
        4. Learning though Competition
        5. Conclusion
      4. Chapter 19: Test Your Forex IQ
      5. Chapter 20: Trading Bitcoin
        1. What Is Bitcoin?
        2. Acquiring Bitcoin
        3. Challenges, Strategies, and Tactics for Trading Bitcoin
        4. Strategies and Tactics for Trading Bitcoin
        5. Getting Starting in Bitcoin
        6. Getting Bitcoin
        7. Buying from an Exchange
        8. Mining Bitcoin
      6. Index
    8. End User License Agreement