Forex Currency Trading Online - How to Make Money Trading Forex

ForeX Trading for Maximum Profit: The Best Kept Secret Off Wall Street

2006-04-02T15:30:00.000-07:00

ForeX Trading for Maximum Profit: The Best Kept Secret Off Wall Street
An in-depth how-to look at Forex trading using the methods, analysis, and insights of a renowned trader, Raghee Horner As the fate of the dollar against foreign currency generates both anxiety and opportunities, currency trading has been drawing much interest and a growing following among traders in the United States. The Forex market is particularly attractive for investors because it trades with no gaps and has unlimited guaranteed stop-losses. The liquidity of the Forex market and worldwide participation makes for more reliable and longer lasting trends as well. Raghee Horner has become legendary not only as a top Forex trader but as a master teacher of trading systems and techniques. Drawing on her winning tools and methods, including classic charting techniques, this book enables a trader or investor of any skill level to understand how the Forex operates and lays out a blueprint for getting starting in this little-understood but high-potential trading vehicle. Raghee Horner (Pompano Beach, FL) is an accomplished trader with more than fifteen years in the markets. She is the cofounder and lead trader of the EZ2 Trade Institute and an educator teaching her style of technical analysis and charting strategies to students all over the world. Raghee has written more than 100 articles on investing, has been a regular on the MoneyWatch Radio Network, is featured at eSignal's "Trading with the Masters," and is a regular contributor to Trader's magazine. Her chart analysis and commentary have appeared on TradingMarkets, JAGNotes, StockCharts.com, and FXStreet. She is also a sought-after speaker who has conducted seminars throughout the U.S., Canada, Caribbean, and Asia.

Customer Review: I was looking for a trading approach and found it here

I googled forex and found plenty of generic information on the market, history, major players, chart patterns but nothing specific. I needed to know when to trade because I was told that even though this market trades 24 hours there are better times to trade. Also needed a trading approach. I am not new to trading. I have traded stock successfully for years. I tried applying what I had been doing in stocks and it didn't quite translate the way I had hoped it would. A friend recommend this book to me and I bought it second hand for a good price. The tools the author uses are not diffcult to learn and the Wave that she uses are now on all my charts. Traders that are looking for a fundamentalist's approach to trading economic data nad news will be disspointed. I like the way the author used Fibonacci Levels and psychological numbers to manage the trade. This book made forex approachable and gives me a place to start. If you need generic info on the market, google "forex" and you will have plenty of information. When you are ready to trade, give this book a read.

Customer Review: Simple vs. simplistic

Different traders have different styles. Some want a zillion confirming indicators before placing a trade, some prefer playing with indicators to trading, and some indulge in the fantasy of finding the "holy grail" system.

Personally, I've never found anything that beats good ole support and resistance, trendlines, and entering the "zone" by watching candlesticks form and candlestick formations. I pay my bills with Forex, and I trade against the indicators only slightly less often than I trade with them. I often forget to look at them at all because I'm focused on what is happening with the ... PRICE!

The problem with indicators is they tell you what has happened but they make you believe they can tell you what WILL happen. There is a world of difference between looking at a historical chart and watching one develop in real time. If you don't believe me, just place a default slow stochastic on a chart and watch the crosses develop. You'll lose a heap of money in no time at all. Then knock yourself out tweaking it according to any number of holy grail systems. You'll lose another heap of money.

Raghee's system is no different. It looks great on historical charts, but often fails to predict the future in real time.

Actually, it is fairly easy to predict where prices will go in general - assuming no strong support or resistance and no big news, they will usually continue merrily on in the direction they are going. Consequently, it's easy to get into a trade.

Getting out is the trick. And that trick is about experience, psychology, and money management more than prediction.

IMO, the truely reliable tools for trading Forex are simple -- S&R, trend, candle formation, PRICE PRICE PRICE. The systems based on indicators -- Raghee's included -- are simplistic, which is quite different from simple.

Kids, there ain't no free lunch. That's the bottom line.

Trading for a Living: Psychology, Trading Tactics, Money Management

2006-04-01T15:31:00.000-08:00

Trading for a Living: Psychology, Trading Tactics, Money Management
Trading for a Living Successful trading is based on three M’s: Mind, Method, and Money. Trading for a Living helps you master all of those three areas:

How to become a cool, calm, and collected trader
How to profit from reading the behavior of the market crowd
How to use a computer to find good trades
How to develop a powerful trading system
How to find the trades with the best odds of success
How to find entry and exit points, set stops, and take profits

Trading for a Living helps you discipline your Mind, shows you the Methods for trading the markets, and shows you how to manage Money in your trading accounts so that no string of losses can kick you out of the game. To help you profit even more from the ideas in Trading for a Living, look for the companion volume—Study Guide for Trading for a Living. It asks over 200 multiple-choice questions, with answers and 11 rating scales for sharpening your trading skills. For example: Question Markets rise when

there are more buyers than sellers
buyers are more aggressive than sellers
sellers are afraid and demand a premium
more shares or contracts are bought than sold

I and II
II and III
II and IV
III and IV

Answer B. II and III. Every change in price reflects what happens in the battle between bulls and bears. Markets rise when bulls feel more strongly than bears. They rally when buyers are confident and sellers demand a premium for participating in the game that is going against them. There is a buyer and a seller behind every transaction. The number of stocks or futures bought and sold is equal by definition.

Customer Review: This book Changed the way I trade

After suffering a loss due to 'Unreasonable Exuberance' in 1997, I was about to quit market. I borrowed this book from library and from the very first page I felt as if Mr. Elder had written my trading biography. This book was a retrospect on my trading psychology/habit and realized my wrong approach to market. I read this book couple of time so that I fully register Mr. Elder's teaching and started trading again. It has been 9 years, I read this book, once every year just to make sure I do not deviate from my trading discipline. Every trader once in his trading life must read this book.

Customer Review: One of the most useful books to get your ready for trading

Trading is a very special business. The environment traders are working in is filled with confusing or even directly conflicting information, greed and aggression. It is a very stressful place and a lot of smart and rational people lose money because they are just not ready psychologically.

This books does a great job preparing you psychologically. First, it explains you what groups of people are involved and what their intentions are. Second, it describes what traders feel, how they should manage their emotions and stay rational and what they should try to avoid. This part is really great. The author is right on and you can skip years of painful mistakes if you follow his advices. Finally, the author reviews some trading strategies. This infomation is useful, but most of them are well described in other sources, so this is not the strongest point of this book.

Overall, it's one the best books about the psychological aspects of trading and it's highly highly recommended.

2006-03-17T08:34:00.000-08:00

Welcome