Beat the odds in Forex trading : how to identify and profit from high percentage market patterns
Beat the odds in Forex trading : how to identify and profit from high percentage market patterns
"Beat the Odds in Forex Trading provides traders with tremendous value by disseminating the trading methods and philosophy of one of the most remarkable Forex success stories since Soros." --Alexander De Khtyar, President, Forex International Investments, Inc. Add certainty and systematization into Forex trading with this practical approach. Author and industry professional Igor Toshchakov shows how recurring market patterns--which can be recognized on a simple bar chart--can be successfully used to trade the Forex market. Written for traders at every level, this valuable resource discusses the challenges of developing a trading method, while revealing the Toshchakov's approach to the market--both from a philosophical and tactical point of view. You'll discover specific trading strategies based on recognizable market patterns, get detailed information on entry and exit points, profit targets, stop losses, risk evaluation, and much more.
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Longtime Forex traders know they will never achieve certainty of profit. The best they can hope for is to trade uncertainty for a proven system and a reliable combination of recurring patterns.
Hardcover: 224 pages Publisher: Wiley (July 28, 2006) Language: English ISBN-10: 0471933317 ISBN-13: 978-0471933311 Product Dimensions: 9.1 x 6.3 x 0.9 inches Subjects Foreign exchange market. Foreign exchange futures. Speculation. Responsibility: Igor Toshchakov. Language: English Description: viii, 216 p. : ill. ; 24 cm. Notes: Includes index. |
Contents: Recommendations to novice traders -- How to get started -- Establishing a trading account -- Choosing the right dealer -- Developing a trading method -- Psychological challenges of speculative trading -- Discretionary versus mechanical trading systems -- Technical and fundamental analysis -- The Igrok method -- Philosophy of the Igrok method -- Evaluating probabilities using technical analysis -- Basic trading strategies and techniques -- Choosing a currency pair to trade -- Money management rules and techniques -- Market behavior and trader discipline -- Short-term and intraday trading strategies using the Igrok method -- Principles of the intraday trading plan -- Entering the market -- Exiting the market -- The importance of timing -- Trading strategy during the central bank intervention -- Templates for short-term and intraday trading -- Average daily trading range templates -- Technical formation templates -- Trendlines, support, and resistance templates -- A sample trade.