Beat the Odds in Forex Trading How to Identify and Profit from High Percentage Market Patterns

by Toshchakov, Igor R.

• ISBN13: 9780471933311
• ISBN10: 0471933317
• Edition: 1st
• Format: Hardcover
• Copyright: 2006-07-28
• Publisher: Wiley

Summary

"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.

Author Biography

IGOR TOSHCHAKOV (L. A. IGROK) is a trader, money manager, and founder of the online trading school at www.igrokforex.com and investment advisory firm Igrok Trading International. This school has taught hundreds of traders since it opened in 2000 and offers numerous online courses. Toshchakov currently manages several portfolios for various entities, and Igrok Trading International is the exclusive advisory firm for "Mina Capital" Fund of Funds in "C" and "D" share classes.

Table of Contents

Introduction	vii
PART I Recommendations to Novice Traders	1	(24)
CHAPTER 1 How to Get Started	3	(4)
CHAPTER 2 Establishing a Trading Account	7	(8)
CHAPTER 3 Choosing the Right Dealer	15	(10)
PART II Developing a Trading Method	25	(26)
CHAPTER 4 Psychological Challenges of Speculative Trading	27	(6)
CHAPTER 5 Discretionary versus Mechanical Trading Systems	33	(4)
CHAPTER 6 Technical and Fundamental Analysis	37	(14)
PART III The Igrok Method	51	(60)
CHAPTER 7 Philosophy of the Igrok Method	33	(26)
CHAPTER 8 Evaluating Probabilities Using Technical Analysis	59	(18)
CHAPTER 9 Basic Trading Strategies and Techniques	77	(16)
CHAPTER 10 Choosing a Currency Pair to Trade	93	(4)
CHAPTER 11 Money Management Rules and Techniques	97	(6)
CHAPTER 12 Market Behavior and Trader Discipline	103	(8)
PART IV Short-Term and Intraday Trading Strategies Using the Igrok Method	111	(34)
CHAPTER 13 Principles of the Intraday Trading Plan	113	(4)
CHAPTER 14 Entering the Market	117	(8)
CHAPTER 15 Exiting the Market	125	(8)
CHAPTER 16 The Importance of liming	133	(8)
CHAPTER 17 Trading Strategy During the Central Bank Intervention	141	(4)
PART V Templates for Short-Term and Intraday Trading	145	(66)
CHAPTER 18 Average Daily Trading Range Templates	147	(12)
CHAPTER 19 Technical Formation Templates	159	(32)
CHAPTER 20 Trendlines, Support, and Resistance Templates	191	(16)
CHAPTER 21 A Sample 'trade	207	(4)
Index	211