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Making Money in Forex, Trade Like a Pro Without Giving Up Your Day Job




By RYAN O’KEEFE
John Wiley & Sons, Inc.


By author : You should understand that I am a trader, not an analyst. This book contains my experience and methodologies as a trader interested in two things: reducing risk and making money. I don’t care about market correlations, the Big Mac Index, or speculating about whether a central banker is going to shave his mustache off. I do not spend my time analyzing the market to death; I’m a trader and making money is all I care about. 

Do not expect a detailed analysis of each currency pair or the effect crude oil may have on the Canadian dollar. I will not discuss traditional technical patterns, Elliot Wave theory, or Gartley patterns (whatever the heck they are). These topics have been discussed ad nauseum by other authors and I see no reason to cover them again.I don’t use them in my trading, so why should I include them in this book? I am only interested in identifying support or resistance, where price is now, where is it headed, and how can I profit regardless of the cost of tea in China. Throughout this book I refer to the theme of bargain hunting. Many traders tend to lose their shrewd business sense when it comes to trading.


 The same trader who wouldn’t pay a penny too much for a car will pay full price for a trade. These traders chase breakouts, sell resistance, and buy support. I want to reset your thinking and remind you that trading is no different from any other market. Demanding the best deal out of every trade lowers your risk and increases your profits. No trade is worth taking unless you are able to dictate your terms to the market. Throughout the chapters on bargain hunting you’ll learn the principles and methodologies I follow to be the cheapest trader I can possibly be. It’s a badge I wear proudly.

Content :
CHAPTER 1 Exploring the Currency Market
Forex Roots 
Forex Participants 
Forex versus 
Exchange Markets 
Trade Mechanics 
Order Types 
Margin and Leverage 
Earning Interest S
electing a Currency 
Dealer 

CHAPTER 2 
Principles of a Bargain Hunter

Understanding Supply and Demand 
Trading Price Action 

CHAPTER 4 Managing Risk
Always Use a Stop Order 
Beware of Overtrading 
Reducing Your Transaction Costs 
Stop Thinking about Losses in Pips 
Managing Risk through Position Size 
Manage Risk Consistently 
Be Conservative with Trailing Stops 
Is Losing 70 Percent of Your Trades Bad? 
Know When to Take a Break 

CHAPTER 5 Managing Profit
Common Profit Management Techniques That Increase Volatility 
Identifying Profit Targets 
Identifying Profit Targets with Fibonacci Ratios
Using Trailing Stops 
Automating Profit with Limit Orders 

CHAPTER 6 Bargain Hunting Along
the Edge
Determining Trends 
Identifying a Bargain Day 
Locating a Support and Resistance Zone
Managing Risk 
Managing Profit

Example Trades 

CHAPTER 7 Bargain Hunting with Price Action
Identifying a Bargain Day with Price Action 
Managing Risk 
Managing Profit Example Trades 

CHAPTER 8 Bargain Hunting with the
Commodities Channel Index
The Traditional CCI Trade 
The Bargain Hunter’s CCI Trade 
CHAPTER 9 Bargain Hunting with
Fundamental Data
Why Trade News? What News Is Worth Trading? 
Which Currency Pair Should You Trade 
Understanding Market Reactions 
Trading a Fundamental Event Closing Bell 

CHAPTER 10 Achieving Consistency: Simple
Steps Every Trader Can Take
Stop Searching for the Forex Holy Grail 
Fix Yourself First 
Are You Really Going to Earn 100 Percent a Month? 
Consider Long-Term Trading
Specialize 
Develop a Written Trading Plan 
Keep a Trading Journal
Demo Trade Properly 





Laksh from India (  )sent us this ebook.

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