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Forex Made Easy : 6 Ways to Trade the Dollar - James Dicks

Forex Made Easy

6 Ways to Trade the Dollar

Hardcover Published: 1st May 2004
ISBN: 9780071438940
Number Of Pages: 256

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The first plain-English introduction to foreign currency exchange trading--one of today's hottest profit opportunities

The foreign currency market is the largest financial market in the world, and foreign exchange trading is quickly becoming one of today's most high-profile, potentially lucrative markets. One problem is that books on the topic are complex, technically dense, and difficult for Forex novices to grasp.

"FOREX Made Easy" is the first book to approach the topic in a detailed yet accessible style, gradually and deliberately moving from simple to complex in easy and natural language. Author James Dicks--founder of the popular trading software 4X Made Easy--draws upon his trading knowledge to give readers only the information they need, from setting up a workstation to trading electronically.

This Forex guidebook provides traders with: An easy-to-follow, six-step process for FOREX trading Methods for gaining an advantage using technical analysis Dozens of examples to illustrate key points

Prefacep. xiii
Acknowledgmentsp. xv
What Is the FOREX?p. 1
Introductionp. 1
FOREX Definedp. 12
A Brief History of the FOREXp. 13
Free-Floating FOREX Marketp. 13
Major FOREX Participantsp. 14
More FOREXp. 15
Currency Pairsp. 15
Recommended Currency Pairsp. 16
Why Trade the FOREXp. 19
Volume in the FOREXp. 19
Analyzing the FOREXp. 23
How Profits Are Madep. 23
The FOREX as a Two-Way Marketp. 25
Forecasting the Marketp. 29
Fundamental Analysisp. 29
Technical Analysisp. 32
Fundamental versus Technical Analysisp. 33
Currency Optionsp. 35
Currency Options Introductionp. 35
Options Pricingp. 36
Advantages of Trading Optionsp. 37
European and American Optionsp. 37
Exotic Optionsp. 38
Lock in Profitsp. 40
Accelerate Your Profitsp. 41
Creating a Workstation for Tradingp. 43
Workstation Locationp. 43
Trading Computer and Accessoriesp. 44
Internet Connectionp. 45
Trading Software Programsp. 45
Continuing Educationp. 48
Fundamentals of Tradingp. 51
Introduction to Trading Theoryp. 52
Trends Definedp. 53
Trend Cyclesp. 53
High-Probability Tradingp. 55
Sideways, Nontrend Strategy: Wait for Strong Trendsp. 55
Uptrend Trading Strategy: But at Dip Bottomsp. 55
Downtrend Trading Strategy: Sell at Rally Topsp. 58
Symmetrical Trianglep. 58
Ascending Triangle: A Bullish Continuation Patternp. 63
Descending Trianglep. 65
The Falling Broadening Formationp. 67
Support Breakdown or Resistance Breakoutp. 67
The Double Bottomp. 68
Head and Shoulders (Crown)p. 70
Economic Fundamentalsp. 73
Introductionp. 73
Economic Indicatorsp. 74
Inflation Indicatorsp. 76
Employment Indicatorsp. 78
Consumer Spending Indicatorsp. 78
Leading Indicatorsp. 79
Introduction to Technical Analysisp. 81
Technical Analysis Definedp. 81
Technical Analysis Assumptionsp. 82
Bar and Candlestick Chartsp. 83
Technical Analysis Termsp. 86
Market Patterns: Uptrends, Downtrends, and Sideways Trendsp. 87
Support and Resistancep. 95
Moving Averagesp. 95
Advanced Trading Charts and Indicatorsp. 103
Tools for Technical Analysisp. 104
Bollinger Bandsp. 104
Directional Movement Index (DMI)p. 107
Stochastic Indicatorp. 107
Moving Averages (Simple, Weighted, and Exponential)p. 110
Moving Average Convergence/Divergence (MAC/D)p. 116
Momentump. 119
Relative Strength Index (RSI)p. 119
Rate of Change (ROC)p. 122
Volumep. 122
Fibonacci Numerical Sequences and Elliot Wavesp. 125
Introductionp. 125
Fibonacci Rectangles and Shell Spiralsp. 127
Fibonacci Retracementsp. 128
Fibonacci Extensionsp. 128
Fibonacci Timep. 129
Fibonacci Circlesp. 130
Elliot Wavesp. 135
Money Management Principlesp. 139
Trade with Sufficient Capitalp. 140
Exercise Disciplinep. 140
Be Patient and Persistentp. 141
Employ Risk-to-Reward Ratiosp. 141
Follow Trading Rulesp. 143
Accept Lossesp. 144
Always, Always Use Stopsp. 144
When In Doubt, Stay Outp. 145
Never Overleverage Your Accountp. 145
Make Realistic Goals That Can Be Achieved within Reasonp. 146
Always Trade with Money You Can Afford to Losep. 147
Protecting Your Profitsp. 147
Keep a Trading Logp. 147
Six Steps to Successp. 149
Identify Current Long- and Short-Term Trends and Which Trend to Tradep. 149
Check News and Market Announcementsp. 150
Identify Support and Resistance Levelsp. 151
Use Studies and Indicators for Entryp. 151
Buy at Dip B
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780071438940
ISBN-10: 0071438947
Series: Personal Finance & Investment
Audience: General
Format: Hardcover
Language: English
Number Of Pages: 256
Published: 1st May 2004
Publisher: McGraw-Hill Education - Europe
Country of Publication: US
Dimensions (cm): 23.7 x 16.1  x 2.2
Weight (kg): 0.49
Edition Number: 1