The Sensible Guide to Forex GBV

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Read This First xix,Currency Risk Every Investor s Dilemma xix. Currency Risk and How to Fight It xx,The Solution xx. Some Background xxi,Why Any Trader or Investor Needs This Book xxii. What This Book Offers xxiv,Why Listen to You Cliff xxv. Visit thesensibleguidetoforex com for Additional,Online Content xxviii.
Acknowledgments xxxi,CHAPTER 1 Three Must Know Forex Facts 1. Fact 1 Everyone Needs Forex Diversification Even if You. Don t Trade Actively 2,You re Exposed Cover Your Assets 2. Even Long Term Buy and Hold Investors Need Forex Diversification 3. Fact 2 Potential for Better Risk Adjusted Returns 4. Forex Markets Often Provide Advanced Warnings of Changes in. Other Markets 4,Forex Needn t Be Any Riskier Than Other Markets 4. No Uptick Rule Just as Easy to Profit in a Falling Market as in. a Rising One 5,Low Correlation to Other Financial Markets 7. The Most Flexible Hours 7,Forex Markets Offer the Best Liquidity 8.
Viii CONTENTS, No Centralized Exchange with Specialists Holding Monopoly Power to. Regulate Prices 9,Less Slippage 9,The Best Risk Reward Potential 9. The Lowest Startup and Trading Costs 10,Fact 3 You Can Do This 11. How Can I Compete against the Pros and Big Institutions 11. How David Beats Goliath More on What This Book Will and Won t Do 12. What s the Catch 14,Most Traders Fail within Their First Two Years 14. CHAPTER 2 Forex Basics 17,Basics of Currencies and Currency Pairs 17.
Trade Only the Most Liquid Currencies 18,The Major Currencies 18. Risk versus Safe Haven Currencies Definition and Ranking 19. Currencies Trade in Pairs and Why That Matters 20, Price Movements Are Always Relative to Another Currency 20. It s Just as Easy to Profit in Bear Markets as in Bull Markets 21. How to Read a Forex Pair Price Quote 22,Summary of Currency Pair Basics 24. Why It s Just as Easy to Profit from Falling Prices 25. Size Matters Types of Currency Pairs 29,The Major Currency Pairs The Most Liquid 29. More on Risk and Safe Haven Currencies 29, The Signs of the Crosses Divine Revelations about Currency Strength 30.
Walk on the Wild Side The Exotics 32,Pips The Universal Currency of Currencies 32. Calculating Pip Values 33, Three Ways to Limit Risk Lot Size Usually the Easiest 33. Leverage and Margin Their Relationship and Impact on Risk 35. Leverage Greater Risk and Reward 35,Permitted Leverage Varies with Place and Time 35. How Margin Lot Size and Leverage Interact 36,The Importance of Adequate Capital 36. Margin Calls Your account s Circuit Breaker 37,Order Types 38.
Exit Orders Ways to Close a Position 42,The Three Facets of Risk and Risk Control 44. Example 44,Contents Ix, The Core Four The Most Important Skills for Success 45. Trader Psychology 46,Risk and Money Management RAMM 48. Technical and Fundamental Analysis 48,CHAPTER 3 Technical Analysis TA Basics 49. Candle Chart Basics 50,Candle Anatomy and Meaning 50.
Relationship between Body Wick and Its Significance 52. Support and Resistance S R Basics 54,Candle Chart Time Frames Length Matters 59. Different Time Frames Different Trading Techniques and Styles 59. Different Time Frames Different Trends 60, Identifying Support and Resistance S R to Buy Low Sell. High or Vice Versa 62, Definitions of S R Are Reversed for Long and Short Positions 63. The General Rule for Identifying Low Risk,High Yield Trades 64. Finding S R Is Key to Identifying and Executing Low Risk High Yield. Good Risk Management Requires Good TA 66,Think of S R as Zones or Areas 66.
So Stick to Trading Longer Time Frames They re Safer 67. Reasons to Consider Using Multiple Entry and Exit Points 68. Once Broken Resistance Becomes Support and Vice Versa 68. Don t OD on TA 69, Why Specialize in a Few Currency Pairs and Time Frames 69. What Determines Whether a Currency Is a Risk or a Safe Haven 70. CHAPTER 4 Technical Analysis Types of Support,and Resistance S R 73. Price Levels 74,For Lowest Risk Enter Near Strong Support 75. What Makes Some S R Points Stronger Than Others 76. Longer Time Frames Offer More Reliable S R Indicators 77. Check Shorter Time Frames to Detect Interim S R Levels 77. Trends and Trend Lines 80,Trends Vary with Time Frame 80. Defining Trends and Constructing Trend Lines 80,X CONTENTS.
Types of Trend Lines 81,Single Uptrend or Downtrend Lines 82. Channels Better Than Single Trend Lines 83,Moving Averages MAs 87. Fibonacci Retracements Fibs These Fibs Don t Lie 93. Applying Fibs to Your Charts 94,Fibs within Fibs 96. Bollinger Bands BBs Use as S R in Range Bound Markets 98. Support Resistance S R for Flat or Gently Sloping Trends. The Bollinger Bounce 99, Bollinger Bands Don t Provide Meaningful S R with Strong Trends 100. Introduction to Japanese Candle Chart Patterns 101. More Key Points about Japanese Candle Patterns 107. Context and Timing Matter 107,Introduction to Western Chart Patterns 108.
Classic Western Reversal Patterns 108, Beware False Breakouts Shake Outs and Other Fake Outs 111. Other Reversal Patterns to Know 112,Classic Western Continuation Patterns 11 3. We Repeat False Breakouts Happen 11 5,Other Continuation Patterns 116. Patterns That Can Be Continuation or Reversal 116,The Underlying Logic of Chart Patterns 116. The More S R Indicators the Better 119, Multiple Mutually Reinforcing S R Indicators An Example 119.
CHAPTER 3 Trader Psychology and Risk and,Money Management RAMill 123. RAMM Preserving Capital Is Your Top Priority 124,The Inner Game Trader Psychology Basics 125. Lesson 1 Seek Trading Styles and Methods That Fit You 126. Lesson 2 Basics of the Trader s Mindset Minimizing and Accepting Risk 128. Lesson 3 Dealing with Losing and Winning Streaks 129. Why Trade Longer Time Frames 130,Seek Safer Trading Styles 1 30. As with Driving Speed Kills 131,A More Level Playing Field 1 32. More and Better Information Means Better Trade Decisions 134. Trends Are More Reliable in Longer Time Frames 134. Ideal Trends For Long Term Investors 1 36,Contents xi.
Other Technical Indicators Are Better in Longer Time Frames 1 37. Publicly Available Fundamental Data and Analysis Matters in. Longer Time Frames 137,Lower Trading Costs 138,Start Out with Longer Duration Trades 138. Content Quality The Sign of a Quality Broker 139,The Essence of Good RAMM 140. The Three Pillars of RAMM 141,Account Size and Affordable Loss per Trade 142. Setting Stop Losses Basic Technique and Psychology 142. Where to Set Stop Losses Two Criteria 142, More Capital Allows Wider Stop Losses and a Wider Choice of Low Risk. Trade Opportunities 143,Balancing Risk versus the Need to Win 144.
Method 1 Recent Range 145,Method 2 Average True Range ATR 145. So How Much Capital Is Enough 146,Leverage and Margin 147. Position Sizing 147,Avoid Having Too Many Open Positions 148. Entries Near Strong Support Exits Near,Strong Resistance 148. Entries 148, Exits Use Trailing Stops to Protect and Maximize Gains 149.
Entries and Exits Single versus Multiple 149,Risk Reward Ratios RRRs 150. Example How 1 3 RRRs Make Winners Out of Losers 1 50. Example How 1 2 Risk Reward Ratios Make Winners Out of Losers 1 52. Applying 1 3 RRR An Example 1 54, Acceptable RRR Can Vary with Market Conditions 1 55. More on Stop Loss Orders An Example of Using ATR to Gauge Volatility. and Place a Fixed or Trailing Stop Loss Order 1 56. If You Fail to Plan You Plan to Fail 1 58,What s Your Rationale for Taking This Trade 1 58. No 1 Plan Every Trade and Record It in a Journal 160. Sample Trade Rationale as Recorded in Journal 162,No 2 Your Overall Business Plan 165. What Conditions Do You Need for Success 166,Safety in Numbers Build a Team 166.
Xli CONTENTS,CHAPTER 6 Essentials of Fundamental Analysis 169. Using Fundamental Analysis FA and Technical Analysis. TA Together 1 71,An Overview of FA Main Fundamental Drivers of. Forex Trends 175,Overall Risk Appetite 1 76,Short Term Interest Rates 183. Macroeconomic Data and Indicators 189, Example EURUSD Uptrend Reverses in Late 2009 as Data Show Europe. Slows U S Grows 189,Geopolitics 193,Capital and Trade Flows 193.
Merger and Acquisition M A Activity 194, Short Term Illiquidity A Lack of Buyers and Sellers 195. Government and Central Bank Special Interventions in Times of Crisis 196. News Trading Day Trading Based on Short Term,Fundamentals 197. What News Traders Watch 197, FA Basics Easy to Understand and Hard to Apply 199. Therefore Get Thee to an Analyst 200,Combining FA and TA An Example 200. CHAPTER 7 Pulling It All Together with,Trade Examples 205.
Identifying and Executing Low Risk High Potential,Yield Trades 205. Begin Your Search On Longer Time Frame Charts Then Zoom In 205. Consider the Fundamental Context 206,initial Screening on Longer Time Frame Charts 206. Second Screening 208,Third Screening to Monitor Trade Progress 209. Types of Trades 210,Trade Example 1 A Swing Trade 211. Initial Screening 211,Second Screening 21 3,RRR Evaluation 214.
Conclusion We Take the Trade 216,Trade Postmortem What Happened 217. Contents xiii,Trade Example 2 A Breakout Trade 218. First Screening 218,Second Screening 220,RRR Evaluation 221. Conclusion Know When to Walk Away 222,Trade Postmortem Was I Right 223. More Key Trader Psychology Distinguishing between Good. Trades and Winning Trades 224,CHAPTER 8 Technical Analysis Basic.
Momentum Indicators 227,Double Bollinger Bands DBBS Use as. Momentum Indicators 229,DBB Basics 231, The Four Rules for Using Double Bollinger Bands 232. Combine DBBs with a Leading Indicator 236,DBBs Conclusion and Summary 237. Moving Average Crossovers 237,Price Crosses Over or Under a Moving Average 238. The More Indicators in Our Favor the Better 239,How Many Indicators Should You Use 240.
But RAMM Is Key 240,Moving Averages Cross Each Other 241. Examples of Simple Trading Systems Using MA Crossovers 242. Welcome to Back Testing 244,Oscillators 244,How They re Used to Generate Buy Sell Signals 246. When to Use Oscillators 248,Other Oscillators to Consider 248. Designer Genes 249, Moving Average Layering Indicates Trend Strength 249. The Stronger the Trend the Clearer the MA Layering 249. CHAPTER 9 Technical Analysis Future Study 255,Catch a Wave Timing or Cycle Indicators 255.
Meet the Fibonaccis 256,And the Ganns 256, Catch the Most Popular Wave Elliott Wave Theory and More 256. XlV CONTENTS,Combining Technical Indicators Which Ones and. How Many 257,Your Tool Kit Needs a Gang of Four 258. Apply Indicators to Each Time Frame When Screening Trades 259. Back Testing Learning from the Past 260,Back Testing Software Play It Again Sam 260. A Manual Back Testing Example 261,Back Testing Is a Tool Not a Solution 265.
Intermarket Analysis Reading Intermarket Correlations. and Diyergences 265,Background 266, Currencies versus Equities The S P 500 as Forex Indicator 267. Risk Currencies versus Safe Haven Currencies 268,Why These Relationships Matter 268. They Give You a Fast Big Picture 269, Divergences from Normal Correlations Can Be Significant 269. The USD versus Equities 271, The USD and Stocks Correlation but Not Causation 272. Currencies versus Currencies How They Correlate 273. Warning The U S Dollar Index Isn t a Substitute for Studying Charts 275. Currencies versus Commodities 277,Cold as a Barometer of the USD or EUR 277.
Other Currency versus Commodity Correlations 282, Thinking Like a Pro One Step Beyond Technical Analysis 284. Mind Games 284,Learn to Think Like These Pros 285, CHAPTER 10 Alternatives to Traditional Methods 287. Auto Trading Systems Welcome to the Machine 287,Currency Funds Forex ETFs ETNs and More 289. Managed Accounts Should You Seek Professional Help 291. CHAPTER 11 Newer Smarter Methods 295, Follow the Leaders Forex Social Networks and Trading 295. What Are Forex Social Networks 296,What Is Social Trading 297.
How It Works The Highest Form of Flattery 297,Risks of Social Trading 298. Rewards of Social Trading 305,Contents XV,The Growth of Social Trading 307. How eToro and Currensee Compare 307,Great Tool but Requires Skill to Use 311. An Auspicious Start 312, Do Your Homework Before You Decide Which to Use 312. Consider Market Conditions in Choosing Strategy and Risk Tolerance 313. Binary Options Trading Made Easier 316,Background 318.
How They Work 319,Pros and Cons 320,CHAPTER 12 Forex for Income The Smartest. Oxymoron 323, Ride Long Term Forex Trends for Lower Risk Higher Income 324. Why Income Investors Neglect Currency Diversification 325. Long Term Trends for Long Term Investors 327, Case Study Canada 2000 2011 Applying Forex Trends to. Equities Investing 328, The USD versus the CAD Guess Which Has No Debt GDP Problem 328. Equities Canada Is Not Japan 329,Be Aware of Tax Withholdings and Credits 332.
For Further Investigation Online Resources 332,The Carry Trade Using Direct Forex Trades as an. Income Vehicle 333, Differences between Forex Carry Trade and Traditional Long Term. Buy and Hold Instruments 334,The Key to Carry Trading 336. The Sensible Guide to Forex Sfafer Smarter Ways to Survive The Four Rules for Using Double Bollinger Bands 232 Combine DBBs with a Leading Indicator 236

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