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9780470874387

Attacking Currency Trends : How to Anticipate and Trade Big Moves in the Forex Market

by
  • ISBN13:

    9780470874387

  • ISBN10:

    0470874384

  • Edition: 1st
  • Format: Hardcover
  • Copyright: 2011-03-29
  • Publisher: Wiley
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Supplemental Materials

What is included with this book?

Summary

The guide for reading long-term trends in the foreign currency market To thrive in the marketplace traders must anticipate, enter, and stay with trends in the foreign exchange market. In this much-needed guide top forex, expert Greg Michalowski clearly explains the attributes of successful traders, and shows how traders can set themselves up for success by drafting an explicit mission statement and game plan. The book also contains the tools and techniques traders need to read the markets and identify when a market is in a trend. Michalowski shows traders how to enter an emerging trend, how to manage the position, and how to exit the position most effectively. Includes the technical tools needed to invest in the foreign exchange market: moving averages, trendlines, and Fibonacci levels Shows how to identify a trend and stick with the trend through its duration Written by Greg Michalowski who was cited by SmartMoney magazine as a "go to" source for making money moves With this book, Michalowski offers an important resource for identifying and riding out long-term trends in the volatile foreign currency.

Author Biography

Greg Michalowski is the chief currency and trading analyst for FXDD. Prior to joining FXDD, he was an assistant vice president and trader in the treasury / funding area with Citibank in New York, a vice president and interest rate derivatives trader at Citibank in London, and a vice president and trader in the banks funding department at Credit Suisse First Boston. Michalowski maintains a daily market commentary and currency analysis website at fxdd.com.His market comments are quoted in the financial pressby Bloomberg.com, Reuters, and the Wall Street Journal,and he has written for various print and online trading publications, including eForex, Equities magazine,forexstreet.com, stocktwits.com, and forexfactory.com.His twitter site, twitter.com/gregmikefx, was one of thirteen cited by SmartMoney magazine as a "go to" source for making money moves.

Table of Contents

Acknowledgmentsp. xi
Introductionp. 1
The Foundation for Successp. 19
Stereotyping the Retail Currency Traderp. 21
They Think Trading Currencies Is Easyp. 22
They Have Too Much Fearp. 27
They Lose Moneyp. 29
They Are Too Fundamental (Not Technical Enough)p. 31
They Don't Know Enough about Key Fundamental Requirementsp. 34
They Fail to Anticipate Trendsp. 45
Don't Be Like the Rest...Change!p. 46
The Six Attributes of a Successful Currency Traderp. 47
What Are You Good at Doing?p. 47
There Will Always Be Peaks and Valleysp. 49
Skill or Aptitudep. 49
Practice, Practice, Practicep. 52
Know Your Riskp. 54
Create and Execute a Planp. 58
Control Your Fearp. 61
Be Greedy Enoughp. 63
A Foundation for Successp. 66
The Mission Statementp. 67
A Team of Onep. 68
A Two-Part Mission Statementp. 70
Finding Trades That Satisfy Your Mission Statementp. 76
The Importance of Staying on Trendp. 80
What's Your Game Plan?p. 85
Every Mission Statement Needs a Game Planp. 86
Trade the Trendsp. 86
Keep Fear to a Minimump. 91
Never Underestimate a Strong Foundationp. 97
Rules for Attacking the Trendp. 99
Keep It Simple (but Stay Positive)p. 100
Have a Reason to Place a Tradep. 105
Be Picky about Your Toolsp. 107
The "If...Should" Rulep. 115
Look Ahead, but Not Too Far Aheadp. 117
Rules Rulep. 120
The Trader's Toolboxp. 121
Rules for the Toolsp. 122
How to Use Fundamental Analysisp. 122
The One Thing We Can Agree On: Pricep. 125
The Toolsp. 131
If I Had a Hammerp. 146
Tools and Strategiesp. 147
Moving Averagesp. 149
What Is a Moving Average?p. 150
How to Use Moving Averagesp. 151
Time Frames for Analysisp. 156
Anticipating a Trendp. 164
Managing a Trendp. 167
Managing Profitsp. 169
Trade Setupsp. 171
The Push That Gets the Market Goingp. 177
Trend Lines and Remembered Linesp. 179
Bullish Trend Linesp. 180
Bearish Trend Linesp. 183
Channels: Highways to Ride the Trendp. 186
Flags and Pennantsp. 190
Finding the Golden Ticketp. 192
Remembered Linesp. 197
Simple but Effectivep. 204
Fibonacci Retracements: The Hybrid Toolp. 205
Introduction to Fibonaccip. 206
Placing Retracements on a Chartp. 210
Using Fibonacci Retracementsp. 214
Trading Shorter-Term Correctionsp. 227
Using the Tools to Your Best Advantagep. 231
Preparing for the Tradep. 233
First Things Firstp. 234
Analyzing the Chartsp. 236
A Composite View of the Cluesp. 249
"Is It a Boy or a Girl, Doc?"p. 251
Executing the Game Planp. 253
The Kickoff: The Entry Tradep. 254
Managing the Tradep. 256
Finding Clues in the Consolidation Phasep. 264
A Borderline: Always a Low-Risk, Unambiguous Levelp. 266
Another Trend Reentryp. 267
The Key Role of Borderlines in Hourly and Daily Chartsp. 271
Attack the Currency Trendp. 275
About the Authorp. 277
Indexp. 279
Table of Contents provided by Ingram. All Rights Reserved.

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