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Forex Made Easy

6 Ways to Trade the Dollar. Illustrations. Sprache: Englisch.
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How Investors of Every Size Can Profit From Today's Largest Trading Market

Newly-developed online trading tools and tactics have helped individual investors smash the barriers between Main Street and Wall Street. Nowhere is this more evident... weiterlesen
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Produktdetails

Titel: Forex Made Easy
Autor/en: James Dicks

ISBN: 0071438947
EAN: 9780071438940
6 Ways to Trade the Dollar.
Illustrations.
Sprache: Englisch.
McGraw-Hill Education - Europe

5. April 2004 - gebunden - 256 Seiten

Beschreibung

How Investors of Every Size Can Profit From Today's Largest Trading Market

Newly-developed online trading tools and tactics have helped individual investors smash the barriers between Main Street and Wall Street. Nowhere is this more evident than in the foreign currency market, or FOREX. Recent rule changes have opened this phenomenally lucrative market--formerly reserved for banks, corporations, and high net worth individuals--to independent investors, many of whom start with as little as $300! FOREX Made Easy is the first no-nonsense, step-by-step introduction to making the FOREX an integral part of your overall trading program. Pulling back the curtain to reveal how simple and straightforward FOREX trading actually can be, this results-based manual takes you through an easy-to-follow, six-step process to:

Use unheard-of 100:1 leverage to make the most of your limited trading capital
Practice market-proven techniques guaranteed to minimize your risk exposure
Trade the FOREX market online, 24 hours a day, six days a week
FOREX trading has quickly become one of the investing world's hottest opportunities, for all traders and investors, regardless of their size or strategy. Discover how to make it work for you, in renowned FOREX trading pioneer James Dicks' commonsense yet revolutionary FOREX Made Easy .

"In this book I have put together what I feel to be a very investor-friendly understanding of the FOREX market and how to trade it. This is for the everyday investor, looking for an alternative to the stock market for better portfolio diversification."

--James Dicks

From the Introduction

The foreign currency market is the largest and most liquid trading market in the world, with $1.5 trillion or more traded every day. And in our increasingly barrier-free global financial markets, online traders and investors armed with inexpensive point-and-click trading systems, along with a new attitude that markets should be open to all traders, all the time, have made it among the most accessible!

Problem is, the majority of books written on FOREX trading have been needlessly complex and technically dense, written for institutional investors making billion dollar-plus trades. FOREX Made Easy changes all that, telling you everything you need to know minus the unnecessary detail and tactics. The first book to provide you with only the information you need, to allow you to get a feel for the market and determine how to fit FOREX trading into your long-term investing program, this straight-talking guidebook reveals:

What the FOREX is, and how and why it has become the major player in today's financial markets
Clear instructions for setting up a trading station, opening an account, and placing your first order
6 Steps to FOREX Success --Concise, effective rules for successful trading
Fundamental analysis and the FOREX-- Economic indicators, inflationary indicators, and more
Technical analysis and the FOREX --From basic charts and patterns to Fibonacci, Elliot Wave, and more
Money management principles to ensure that you trade with your head instead of your heart
Business and tax strategies for squeezing every financial advantage from your FOREX trading practices
FOREX Made Easy gives you much more than just facts and numbers. This first-of-its-kind book provides you with the tools and techniques you need to stand toe-to-toe with the world's most powerful traders and institutions, using FOREX trading like they have for years to both offset your market risks and augment your profits. Simple, uncomplicated, and filled with examples of individual traders using their smaller size to tremendous advantage in the institution-dominated FOREX, it will open your eyes to an opportunity that is unique, unprecedented, and bound to become a staple for tr

Inhaltsverzeichnis

Preface xiii
Acknowledgments xv
1 What Is the FOREX? 1
Introduction 1
FOREX Defined 12
A Brief History of the FOREX 13
Free-Floating FOREX Market 13
Major FOREX Participants 14
2 More FOREX 15
Currency Pairs 15
Recommended Currency Pairs 16
Why Trade the FOREX 19
Volume in the FOREX 19
Analyzing the FOREX 23
How Profits Are Made 23
The FOREX as a Two-Way Market 25
3 Forecasting the Market 29
Fundamental Analysis 29
Technical Analysis 32
Fundamental versus Technical Analysis 33
4 Currency Options 35
Currency Options Introduction 35
Options Pricing 36
Advantages of Trading Options 37
European and American Options 37
Exotic Options 38
Lock in Profits 40
Accelerate Your Profits 41
5 Creating a Workstation for Trading 43
Workstation Location 43
Trading Computer and Accessories 44
Internet Connection 45
Trading Software Programs 45 Continuing Education 48
6 Fundamentals of Trading 51
Introduction to Trading Theory 52
Trends Defined 53
Trend Cycles 53
High-Probability Trading 55
Sideways, Nontrend Strategy: Wait for Strong Trends 55
Uptrend Trading Strategy: But at Dip Bottoms 55
Downtrend Trading Strategy: Sell at Rally Tops 58
Symmetrical Triangle 58
Ascending Triangle: A Bullish Continuation Pattern 63
Descending Triangle 65
The Falling Broadening Formation 67
Support Breakdown or Resistance Breakout 67
The Double Bottom 68
Head and Shoulders (Crown) 70
7 Economic Fundamentals 73
Introduction 73
Economic Indicators 74
Inflation Indicators 76
Employment Indicators 78
Consumer Spending Indicators 78
Leading Indicators 79
8 Introduction to Technical Analysis 81
Technical Analysis Defined 81
Technical Analysis Assumptions 82
Bar and Candlestick Charts 83
Technical Analysis Terms 86
Market Patterns: Uptrends, Downtrends,and Sideways Trends 87
Support and Resistance 95
Moving Averages 95
9 Advanced Trading Charts and Indicators 103
Tools for Technical Analysis 104
Bollinger Bands 104
Directional Movement Index (DMI) 107
Stochastic Indicator 107
Moving Averages (Simple, Weighted, and Exponential) 110
Moving Average Convergence/Divergence (MAC/D) 116
Momentum 119
Relative Strength Index (RSI) 119
Rate of Change (ROC) 122
Volume 122
10 Fibonacci Numerical Sequences and Elliot Waves 125
Introduction 125
Fibonacci Rectangles and Shell Spirals 127
Fibonacci Retracements 128
Fibonacci Extensions 128
Fibonacci Time 129
Fibonacci Circles 130
Elliot Waves 135
11 Money Management Principles 139
Trade with Sufficient Capital 140
Exercise Discipline 140
Be Patient and Persistent 141
Employ Risk-to-Reward Ratios 141
Follow Trading Rules 143
Accept Losses 144
Always, Always Use Stops 144
When In Doubt, Stay Out 145
Never Overleverage Your Account 145
Make Realistic Goals That Can Be Achieved within Reason 146
Always Trade with Money You Can Afford to Lose 147
Protecting Your Profits 147
Keep a Trading Log 147
12 Six Steps to Success 149
Identify Current Long- and Short-Term Trendsand Which Trend to Trade 149
Check News and Market Announcements 150
Identify Support and Resistance Levels 151
Use Studies and Indicators for Entry 151
Buy at Dip Bottoms (Uptrends) or Sell on RallyTops (Downtrends) 151
Use Proper Money Management 152
13 Getting Started with a Trading Station 155
Access the PremiereTrade Web Site 156
Install and Run the Dealing Software 156
Open a Demo Trading Account 156
Dealing Rates Window 157
Open Positions Window 159
Accounts Window 161
Multiple-Accounts Window 163
Orders Window 163
Placing a Market Order 164
Placing a Stop/Limit on an Open Position 167
Change Price on a Stop/Limit (Open Position) 168
Delete Stop/Limit (Open Position) 168
Close an Open Position 169
Placing an Entry Order 170
Change an Entry Order 171
Canceling an Entry Order 173
Reports 173
Customizing the Trading Screen 173
Trading Station Options 175
14 Corporations in the FOREX 179
Introduction 179
Forward Transactions 180
Examples of Strategi

Portrait

McGraw-Hill authors represent the leading experts in their fields and are dedicated to improving the lives, careers, and interests of readers worldwide

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