The FX Bootcamp Guide to Strategic and Tactical Forex Trading

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  • Edition: 1st
  • Format: Hardcover
  • Copyright: 2008-09-22
  • Publisher: Wiley
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A straightforward guide to trading today's dynamic Forex marketWritten by Wayne McDonell, the Chief Currency Coach at FX Bootcamp, this book shows readers how to successfully trade the Forex market on their own. FX Bootcamp's Guide to Strategic and Tactical Forex Trading skillfully explains how to combine popular technical indicators to formulate a comprehensive market strategy. Readers will then learn how to focus on using this information to create a tactical trading plan--one that will help them pull the trigger to get in and out of a trade. Along the way, McDonell takes the time to discuss the various challenges a Forex trader faces, such as greed, fear, loss, and isolation. As a Forex trader and educator of traders, Wayne McDonell knows what it takes to make it in the competitive world of Forex. And with FX Bootcamp's Guide to Strategic and Tactical Forex Trading he shows readers how.

Author Biography

WAYNE McDONELL is the Chief Currency Coach of FX Bootcamp (www.fxbootcamp.com), a live Forex training organization. He is a professional Forex trader, a member of the National Futures Association, and a registered Commodities Trading Advisor. Respected in the Forex industry as a successful trainer, McDonell is a regular speaker at major investing conferences and expos in Asia, Europe, and America. His videos are syndicated around the world on outlets including Forex Television, FXstreet.com, MoneyShow.com, and MSN. His live trading Webinars have attracted up to 1,000 traders each. McDonell has written "how-to" articles for investing magazines, such as Your Trading Edge and the FOREX Journal magazine. He has also received notoriety in the National Post, TechWeek, Interactive Week, and Inc. magazine to name a few.

Table of Contents

Prefacep. xi
Introductionp. 1
Which Do You Do?p. 2
Basic Trainingp. 5
Lagging Indicatorsp. 7
Moving Averagesp. 7
Moving Average Convergence Divergence (MACD)p. 9
Bollinger Bandsp. 14
Standard Deviationp. 19
Summaryp. 19
Leading Indicatorsp. 21
Price Support and Resistancep. 21
Fibonacci Retracementsp. 24
Fibonacci Extensionsp. 29
Summaryp. 33
Part One Summaryp. 34
Strategic Analysisp. 37
How to Gather Market Intelligence to Formulate a Trading Strategyp. 39
Spy Plane Viewp. 39
Inflation Sensationp. 40
Central Bankingp. 42
Inflation Targetingp. 42
Cost of Moneyp. 42
Money Magnetsp. 43
Interested in Valuationp. 44
Foreign Exchangep. 45
Demanding Consequencesp. 45
House of Cardsp. 46
Not Interestedp. 46
Summaryp. 49
The Carry Tradep. 51
Free Housep. 53
Scary Carryp. 54
Power Yenp. 55
Summaryp. 56
Forex and the Fedp. 57
Forex Economicsp. 57
The Federal Reserve Systemp. 69
Summaryp. 73
Commodity Correlationsp. 75
Commodity Correlation: Oilp. 75
Commodity Correlation: Goldp. 77
Commodity Correlation: Equitiesp. 78
Trading Commoditiesp. 81
Summaryp. 81
Greenback Guru: Why You Should Specialize in Trading U.S. Dollarsp. 83
What's Your USD Bias?p. 84
Currency Correlation Coefficientp. 85
Trading Currency Correlationp. 86
Trading a Basket of Currenciesp. 88
Petrodollarsp. 89
Yet another Reasonp. 90
Summaryp. 90
Part Two Summaryp. 91
Rules of Engagementp. 93
What's the Time?p. 94
Market Analysisp. 95
Speed of the Marketp. 95
Momentum of Pricep. 101
Summaryp. 104
Fundamental Analysisp. 105
Economic Announcementsp. 105
Global Money Flowp. 106
Interest Rates and Currency Valuesp. 106
Market Biasp. 107
Announcement Calendarp. 108
Summaryp. 110
Technical Analysisp. 111
Self-Fulfilling Prophecyp. 111
Range Analysisp. 112
Trend Analysisp. 121
Pivot Analysisp. 126
Summaryp. 132
Risk Analysisp. 133
Fear of Lossp. 133
Fear of Profitp. 134
Limitsp. 134
FX Bootcamper Credop. 135
Limits for Lossp. 136
Limits for Profitp. 138
More Tactics for Trade Entry and Exitsp. 139
Your Mind's Eyep. 140
Do Nothingp. 141
Do You Have the Guts?p. 142
Second Chances in Forexp. 143
Summaryp. 145
Part Three: Summaryp. 146
Tactical Planningp. 149
Candlestick Patternsp. 151
Reversal Patternsp. 152
Reverse and Continuation Patternsp. 158
Trending Onlyp. 161
Summaryp. 162
Range Tradingp. 163
Get in the Ringp. 163
Floors and Ceilingsp. 164
Over and Outp. 165
Summaryp. 169
Trading the Newsp. 171
Conservative News Tradesp. 174
Summaryp. 182
Part Four Summaryp. 183
Psychological Warfarep. 185
How to Cope with Pre-and Post-Trading Stress Disordersp. 187
Going Mentalp. 188
Common Threadp. 189
Understand Yourself, Understand Your Tradesp. 191
Summaryp. 193
Trade Journalsp. 195
3X the 4Xp. 201
Summaryp. 202
Target Practicep. 203
Summaryp. 205
Three-Year Planp. 213
FX Business Plannerp. 213
Risk Managementp. 216
Summaryp. 222
Part Five Summaryp. 223
Closing Notesp. 225
The Genesis of FX Bootcampp. 225
Lead by Examplep. 227
Additional Supportp. 228
Indexp. 231
Table of Contents provided by Ingram. All Rights Reserved.

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