By Ed Ponsi
Whereas so much books on buying and selling care for basic suggestions and shrink back from specifics, currency styles and percentages provide you with real-world suggestions and a unprecedented experience of readability concerning the particular mechanics of foreign exchange. major buying and selling educator Ed Ponsi will clarify the using forces within the foreign money markets and should supply options to go into, go out, and deal with profitable trades. Dozens of chart examples and causes will consultant you every step of how and make allowance the reader to ''look over the shoulder'' of a pro dealer tough at paintings at his craft.
This ebook presents investors with step by step methodologies which are in keeping with genuine industry trends. The options during this e-book are provided in actual fact and intimately, in order that an individual who needs to can easy methods to alternate like a certified. it's written in a method that's effortless to appreciate, in order that the reader can quick research and use the recommendations supplied.
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Additional info for Forex Patterns and Probabilities: Trading Strategies for Trending and Range-Bound Markets
Why does technical analysis work so well in the forex market? Technical analysis is simply the analysis of past price movements to help predict future price movements. In many cases, a trader using technical analysis is simply looking for the repetition of past occurrences. This chapter explains how traders use this technique to optimal effectiveness in the currency markets. THE THEORY BEHIND TECHNICAL ANALYSIS Long-term movements in the currency market generally correlate with economic cycles.
When we trade forex, we are not trading companies, but entire economies. The fundamentals of an individual country’s economy change much more slowly than the fundamentals of an individual company. If the stock of an individual company is weak, there are a variety of actions that can be taken. For example, we can replace the CEO, restructure the company, add new members to the board of directors, and so on, and turn the company around quickly. Turning around the fortunes of an entire country is a much more complicated and time-consuming process.
Or it could mean that I’m opening a short trade; in other words, I’m selling a currency pair today in order to profit from an expected drop in the exchange rate. However, if you ask that same question of me and I answer, “I’m going short,” there can be no confusion as to my meaning. If I’m selling short, I am definitely going to make money if the exchange rate falls, and I’m definitely going to lose money if the exchange rate rises. There can be no doubt about it. Suppose you ask me what I am planning to do today, and I tell you that I plan to buy.
Forex Patterns and Probabilities: Trading Strategies for Trending and Range-Bound Markets by Ed Ponsi