Forex Trading Making Pip By Pip
57 pages
English

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57 pages
English

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Description

Expert and amateur investors can both benefit from the Forex trading strategy. Having access to 24 hour information and trading schedules gives investors knowledge and insight to make trades throughout the day. The site offers loads of information and links for further research. Foreign currencies have long been a hot trading platform for serious investors and now their strategies are available to everyone. A free trial account allows traders to experiment while learning new trading techniques without taking any unnecessary risk.

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Publié par
Date de parution 23 juillet 2014
Nombre de lectures 11
EAN13 9781634281706
Langue English
Poids de l'ouvrage 1 Mo

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Table of Contents
Forex Trading
Chapter 1- What Is Forex Trading And How Does Forex Trading Work?
Chapter 2- What Is The Proper Mindset To Have Before You Begin Forex Trading?
Chapter 3- Explain the Day Trading Strategy Known as Trend Following
Chapter 4- Explain the Day Trading Strategy Known as Contrarian Investing
Chapter 5- Explain the Day Trading Strategy Known as Range Trading
Chapter 6- Explain the Day Trading Strategy Known as Scalping
Chapter 7- Explain the Day Trading Strategy Known as Rebate Trading
Chapter 8- Explain the Day Trading Strategy Known as News Playing
Chapter 9- Explain the Day Trading Strategy Known as Price Action
Chapter 10- Explain the Day Trading Strategy Known as Artificial Intelligence
Forex Trading Made Easy For Beginners: Software, Strategies and Signals
Chapter 1- A History of Forex
Chapter 2- Forex Trading Systems
Chapter 3- Forex Trading Platform
Chapter 4- Forex Trading Strategies
Chapter 5- Forex Signals
Chapter 6- What To Trade in Forex
Chapter 7- More about Automated Forex Trading
Pip By Pip: Forex Trading Strategies for the Winning Trader
Chapter 1- Forex Trading- An Introduction
Chapter 2- Forex Robots
Chapter 3- Online Forex Trading Tips
Chapter 4- What are Forex Charts?
Chapter 5- Forex Trading Signals
Chapter 6- Day Trading-Forex
Chapter 7- Why Do Forex Trading at Home
Forex Trading: A Guide To Day Trading Essential Tips
Simple Strategies To Earn Pips Per Day
 
By: David Gray
 
Chapter 1- What Is Forex Trading And How Does Forex Trading Work?

The Forex trading industry is rapidly gaining headway as many hobbyist investors and professional investors alike are lured in by the breakneck speed and instant results. While the underlying mechanism of Forex trading is somewhat simple, in practice the market is very complex. It is important to understand Forex trading before you get involved, as it is a market that moves quickly. A poor investor can lose everything in a matter of minutes, not days like in the stock market.
To understand Forex trading, consider the fact that you've probably already engaged in a Forex trade on your own without realizing it. Forex stands for "foreign exchange," and it's what occurs any time money in one denomination is traded to another denomination. Let's discuss the most common scenario for a Forex trade. Consider that you're travelling to another country for a vacation, and you find out that currently one US Dollar (USD) is worth two of the Other Country's Dollars (OCD). So you then trade 1,000 USD for 2,000 OCD. You spend two months in the other country and, somehow, you still have 2,000 OCD when you're heading back (maybe you did well in some gambling). At this point, it's very unlikely you'll get 1,000 USD back. That's because currency rates fluctuate constantly. It's possible you'll find out your 2,000 OCD is now worth 1,500 USD, and it's also possible you'll find out your 2,000 OCD is now worth 500 USD. This opportunity for gain and loss is the basis of the Forex market.
Of course, Forex traders don't go to the bank and physically change money; they use brokers that allow them to trade units of money through the internet. These brokers often allow transactions as low as a single unit of currency. Trades occur through these brokers near instantly, and the changes in the market can be continuously tracked and graphed online.
Those that know the stock market may feel that they have an edge in Forex trading, but Forex trading is actually significantly different from traditional stock trading. For one, most Forex trades are short term trades, and long term positions are incredibly rare. The Forex market is also slightly different because there are very few currencies that are actively traded, and most traders focus on a set of two or three specific pairs, such as EUR USD or GBP USD. This is far different from researching and selecting from a high volume of stocks. The Forex market is also a 24 hour market that rarely closes, meaning that trading goes on continuously.
Forex trading can be considered more accessible to the hobbyist investor because the system itself is relatively simple, and because it's easy to start trading Forex with a small initial investment. That doesn't mean that the market strategies are simple, however, just that the actual trading platforms and the philosophy behind the market are easier to understand. As in all high risk investments, more investors will lose money than will gain a profit.
Automated Forex trading is a subcategory of Forex trading that has gained a lot of criticism. With this type of trading, the trader uses a computer program that automatically trades for them. The computer decides when to initiate these trades based on historical data, and some of these programs have shown remarkable results. However, most people will already have realized the big problem: historical data cannot predict future market results. This means that some programs will perform remarkably well for a few months and then suddenly tank.
There are many online Forex trading seminars and tutorials to teach anyone the basics of Forex trading. Research and consistency is critical to succeeding in the Forex industry, so many Forex brokers offer demo accounts where new traders can practice with fake dollars. This can be a great way to practice new strategies and learn about the way the market works. Other Forex experts offer trading signals, which are alerts that tell you what trades to place and when. These signals can be valuable, if you have enough of a foundation of knowledge to understand them.
When considering entering into Forex, you should test many brokers and many Forex trading platforms. It's critical to get a broker that features low spreads, because these spreads can actually make or break trades in many strategies. It's also important to get a broker that offers an intuitive trading platform, because your trading platform will become your most valuable tool and best friend. A clunky or unresponsive trading platform can lead to death, especially for those with strategies that involve very fast trades.
Forex is a unique and fascinating market, but it is not a money making or get rich quick scheme. It is a huge, international market that needs to be respected and understood before it can yield any positive results.
Chapter 2- What Is The Proper Mindset To Have Before You Begin Forex Trading?
Before you begin your journey, it is of utmost importance to do a complete and accurate self-appraisal aimed to provide you, the trader, with a chance to create the proper mindset for long-term success in the Forex market. Doing so provides a strong foundation for future trading success. The proper mindset is often as unique as each individual trader, but don’t worry, you will develop your own mindset, and set of quality traits, as your trading career progresses. But, there are common themes and requirements that each successful trader shares. A desire for knowledge, risk management, patience, and courage are four examples of these themes.
Embrace Knowledge and Learning
Before you begin Forex trading, you must embrace the idea of learning from your mistakes. Every trader makes mistakes and you will, too. One of the differences between successful traders and unsuccessful traders is the ability to learn from their mistakes (and successes!) and to use those lessons in future trades.
Did you take an early exit from your trade when the technicals were clearly telling you to let your profits ride? Did you get greedy and try to take a few extra pips of profit before your exit? Write these situations down. Learn from them. The lessons you teach yourself, especially as you’re just beginning your Forex journey, will last you throughout your career. And don’t just stop with what you teach yourself! Learn from others as well. Read books. Read Forex blogs and follow the markets. Taken together, a strong base of knowledge resources is the key to becoming a knowledgeable, and successful, trader.
Managing Risk
Risk management is priority #1 when it comes to Forex trading. A trader must know what he or she stands to lose on each trade in terms of invested capital per trade and in terms of percentage of total portfolio value at risk. Without a true understanding of how a trade fits into an overall portfolio, the trader is unable to make an informed decision when the time comes to either lock in a gain or to take a loss. An understanding of how a position fits into a particular portfolio is often a key factor in these important decisions.
Asset allocation is essential to successfully managing risk. Oftentimes, as beginners in the Forex market, we are tempted to focus on one or two trades and place a significant portion of our portfolio at risk on each of these trades. At first, you may get lucky and take a few profitable trades using this method. However, over the long-run, there is virtually no chance of sustained success using this strategy. When you hear news coming out of Europe or the United States, instead of asking yourself “How much can I make trading the EUR/USD pair,” ask yourself “How much of my portfolio can I put at risk trading this EUR/USD opportunity?” Forex trading is more than placing buy and sell orders on currency pairs. It is an act of portfolio management. The cash sitting on the sidelines is just as important to your strategy and portfolio as the capital at risk on any given trade.
Patience
As a beginner, it is easy to become overwhelmed by the breadth and d

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