Forex Patterns and Probabilities - Ed Ponsi

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Auteur(s) : Ed Ponsi

Editeur : John Wiley & Sons

Langue : Anglais

Parution : 01/07/2007

Format : Moyen, de 350g à 1kg

Nombre de pages : 272

Expédition : 551

Dimensions : 23.5 x 15.7 x 1.9

ISBN : 0470097299

Résumé :
While most books on trading deal with general concepts and shy away from specifics, Forex Patterns and Probabilities provides you with real-world strategies and a rare sense of clarity about the specific mechanics of currency trading. Leading trading educator Ed Ponsi will explain the driving forces in the currency markets and will provide strategies to enter, exit, and manage successful trades. Dozens of chart examples and explanations will guide you each step of the way and allow the reader to look over the shoulder of a professional trader hard at work at his craft.

This book provides traders with step-by-step methodologies that are based on real market tendencies. The strategies in this book are presented clearly and in detail, so that anyone who wishes to can learn how to trade like a professional. It is written in a style that is easy to understand, so that the reader can quickly learn and use the techniques provided.

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Biographie:

ED PONSI is the President of FXEducator.com and is the former chief trading instructor for Forex Capital Markets. He is an experienced professional trader and money manager who has advised hedge funds, institutional traders, and individuals of all levels of skill and experience. Ponsi is featured on the FXEducator.com DVD series, Forex Trading with Ed Ponsi. He is a dynamic public speaker who has appeared on numerous television and radio programs, and is a frequent guest lecturer at trading conventions and seminars around the world.

For more information, please visit www.edponsi.com and www.fxeducator.com....

Sommaire:

Preface xv

Acknowledgments xvii

About the Author xix

Part I The World's Most Dynamic Trading Market 1

Chapter 1 Getting Started in Forex 3

From Stocks to Forex 4

Getting to Wall Street 4

Welcome to the Jungle 5

Football and Forex 5

Stock Market Headaches 6

Welcome to Forex 9

A New Beginning 10

Chapter 2 All About Forex 11

The Canadian Dollar and the U.S. Dollar 11

The Euro and the U.S. Dollar 12

Trading Terminology 13

An Easy Way to Understand the Exchange Rate 23

Chapter 3 Questions and Answers 25

Why Does the Big Money Trade Forex? 25

Why Is Forex Suddenly So Popular? 26

How Do Traders Make Money in the Forex Market? 26

Why Do Currencies Trade in Pairs? 27

How Can I Trade Two Currencies at One Time? 28

How Is 24-Hour-per-Day Trading Possible? 28

How Is the Trading Day Structured? 29

Greenwich Mean Time 30

Chapter 4 Technical Analysis and the Forex Market 33

The Theory behind Technical Analysis 33

Statistical Survey 34

Fear of the Unknown 34

Trading Patterns and Technical Indicators 35

The Psychology behind the Market 36

Moving Beyond Technical Analysis 38

Trends 39

Proper Order 39

Fibonacci Techniques 41

Chapter 5 Things You Need to Know Before Trading Forex 43

The Triple Threat Trader 43

Gaining Experience 44

Which Pair to Trade? 45

Commodity Currencies 46

Don't Limit Yourself 47

Trading and Karma 49

Schadenfreude 50

Part II Trading Strategies for Trending Markets 51

Chapter 6 Understanding Trends and Tendencies 53

Trading Conditions 53

The Importance of Maintaining Objectivity 55

Begin with a Tendency 57

Putting the Trend to Work 59

Self-Fulfilling Prophecy 59

Take Me to the River 60

How to Determine If the Market is Trending 61

Chapter 7 The Anatomy of a Trend 63

Why Trends Form 63

Don't Fight the Trend 66

Chapter 8 Forex Multiple Time Frame Strategy 69

Why Does It Work? 70

Combining Fibonacci and Trend 71

Overbought Does Not Equal Sell 73

Picking Tops and Bottoms 75

The Entry Signal 76

Placing the Stop 76

Getting Out 77

Welcome to the Real World 79

Tweaking the Exits 79

Executing the Plan 81

Second-Guessing 82

Bringing It Home 83

The Devil's Advocate 83

When to Stay Out 84

Reloading the Trade 85

Fantasy versus Reality 87

Phantom Signal 89

Temporary Success and Failure 89

The Stop Run 91

Chapter 9 The FX-Ed Trend Technique 99

Trends Are Self-Sustaining 99

Difference of Opinion 100

Big Money at Work 100

The Common Denominator 100

Long or Short 101

Identifying the Trend 103

Filtering the Trend 104

The Catalyst 107

Placing the Stop 107

Volatility Stop 108

Comparing Apples to Apples 109

ATR Calculation 110

The Entry 110

The Stop 112

The Trade 112

Don't Fish for Minnows 117

Back to the Trade 118

Denouement 120

The News versus the Trend 120

Appearances Can Be Deceiving 121

More Than One Chance 124

Partial Exit Exercise 125

Discretionary and Strategic Exits 126

Faulty Wiring 126

Partial Exit Technique 127

Reloading 128

Important Points to Consider 129

Final Thoughts 130

Part III Nontrending Trading Techniques 131

Cha...