Courtney Smith – How to Make a Living Trading Foreign Exchange

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Description

Courtney Smith – How to Make a Living Trading Foreign Exchange

ISBN: 978-0-470-44229-6

208 pages

January 2010

 

Description

Solid Forex methods for capturing earnings in as we speak’s unstable markets

How to Make a Living Trading Foreign Exchange places the world of Forex at your fingertips. Author Courtney Smith begins with an introduction to the Forex market-what it’s and the way it works. He then delves into six moneymaking methods for buying and selling Forex, together with his distinctive Rejection Rule that doubles the revenue of fundamental channel breakout techniques. In addition to two particular strategies for exiting positions at essential ranges, Smith additionally discusses highly effective danger administration methods and profitable buying and selling psychology methods that can hold you one step forward of the sport.

Reveals the secrets and techniques of the Forex market and the way to create a lifetime of earnings buying and selling it

Offers recommendation on maximizing earnings in the course of the unstable swings which have more and more develop into the norm

Other titles by Smith:Option Strategies, Third Edition, Seasonal Charts For Futures Traders, Commodity Spreads, andProfits Through Seasonal Trading

Make extra from as we speak’s Forex market with How to Make a Living Trading Foreign Exchange.

Table of Contents

Preface.

Chapter 1 The Basics of Foreign Exchange Trading.

Sell a Yard of Cable.

Don’t Want To Trade!

Transaction Costs.

It Never Stops.

My Biggest Losing Trade.

The Bottom Line.

Chapter 2 Trend Analysis.

What Is a Trend?

How to Profitably Trade Bull and Bear Markets.

How to Trade the Trend.

Megaphones and Pennants.

Average Directional Index.

The Bishop.

The Bottom Line.

Chapter 3 Channel Breakouts.

The Beginnings of Channel Breakouts.

What Is A Channel Breakout?

Better Channel Breakouts.

The Pros and Cons of Channel Breakouts.

The Bishop.

ADX Filter.

The Principle of Instant Gratification.

Rejection Rule.

The Last Bar Technique.

Tactics.

Taking Profits.

The Bottom Line.

Chapter 4 The Conqueror.

The Beginnings of the Conqueror.

What is True Range?

Enhancing the Conquistidor.

Adjusting the Stop.

The Bottom Line.

Chapter 5 Stochastics.

What Are Stochastics?

How to Use Stochastics as an Overbought and Oversold Indicator.

Trading Signals from Crossovers.

Profitability of Stochastics.

Warnings.

The Best Way to Make Money Using Stochastics.

Go with the Trend.

How I Use Stochastics.

Interview with George Lane.

The Bottom Line.

Chapter 6 Pattern Recognition.

Inside Days.

Double Whammy.

Multi-Unit Tactic.

Reversal Days.

Riding the Rejection Rule.

The Bottom Line.

Chapter 7 Risk Management.

Stopping Bad Risk Management.

How to Make Sure We Are Never Wiped Out.

Good Risk Management: Fixed Fractional.

How Many Contracts Should I Put On?

Highly Correlated Positions.

Kelly Formula.

Trade Your Equity Curve.

Take a Time Out.

Turning Poor Systems into Good Systems.

How Big of a Position Should I Take?

The Bottom Line: Diversify Through Time.

Chapter 8 Slingshot.

The Importance of Minimizing Losses.

Beware of Taking Profits Too Early.

Psychological Profits.

Confirmations.

Maximum Excursion Analysis.

Using the Slingshot for Profits.

The Mini-Slingshot.

The Bottom Line.

Chapter 9 The Psychology of Successful Trading.

Why Do You Trade?

The Pressures of Trading.

Why Do You Lose?

Addressing a Lack of Knowledge.

Addressing a Lack of Capital.

Addressing a Lack of Self-Discipline.

An Example of Overcoming the Bizarre Twists and Turns of the Mind.

Treat Trading as Education.

Stress-Free Trading.

Be the Casino.

Developing Your Trading Plan.

Filling Out the Plan.

The Importance of a Postmortem.

The Bottom Line.

Chapter 10 Putting It All Together.

Diversifying To Reduce Risk.

Use a Mental Checklist.

How to Trade Only One Method.

The Bottom Line.

Epilogue: Key Insights for Maximizing Your Trading Profits.

Appendix : Suggested Reading.

Acknowledgments.

About the Author.

Index.

Author Information

Courtney D. Smith is Chairman of the Investment Mentoring Institute, a company devoted to constructing nice buyers. He can also be President and CIO of Courtney Smith & Co., Inc., which manages cash for establishments, household places of work, and high-net-worth people. Mr. Smith is the proprietor and Editor in Chief of Commodity Trading Consumer Research (CTCR)—the premier monitoring service for the futures business—and creator of six books, together with Option Strategies (Wiley). He has made greater than 1,000 TV appearances on reveals similar to Wall Street Journal Report, Moneyline, and different packages on CNBC, Fox News, Bloomberg, and CNN.

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