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Forex Trading for Maximum Profit

Thu, Apr 19 2007, 11:01 GMT
by FXstreet.com Team

FXstreet.com

About the Author

Raghee is an experienced trader with over fifteen years in the markets. She is the co-Founder and Lead Trader of EZ2 Trade Software and has taught her brand of technical analysis and charting strategies to students all over the world. As an international author, Raghee has taught currencies, futures and equities trading for over a decade.

With an emphasis on charting and price action, Raghee continues to teach the tools and strategies that encourage self-directed traders to pursue the study of technical analysis and market psychology. Allowing experience of actual trades to inspire her strategies, Raghee has maximized the tools of eSignal to develop automated charting tools for active traders and investors.

She has been interviewed by radio commentators as well as offered education and analysis on her own radio program. Raghee is a sought-after speaker who has conducted seminars throughout the US, Canada, Caribbean, and Asia. She is also is frequently invited to teach and offer analysis about the FOREX market.

Raghee has written more than 100 articles on investing, active trading, and market psychology. She has also advised money managers and hedge funds. Her chart analysis and commentary have appeared on TradingMarkets, JAGNotes, StockCharts.com, and FXStreet. She has also been a regular on the MoneyWatch Radio Network.

You may see Raghee's Live Sessions schedule or visit her Blog: Chartology.

Book Synopsis

Reader off this book will read it for one simple reason: You want to trade Forex successfully, which is to say you want to be a profitable Forex trader. I'm not going to lose sight of this fact. nIn fact, I can tell you why I chose to take on the painstaking effort of writing my book.

About four years ago, more than a few of my students wanted to trade Forex and I did not have a book or course to recommend to them. I did visit many bookstores in an effort to find even one book that I felt provided would-be Forex traders a methodology they could follow. My search yielded no results. Let me tell you what I did find. I found books that discussed the history of the Forex, books that discussed the interbank relationship, books that discussed the pairs and fundamentals of the Forex market, and finally books that discussed all the patterns and indicators you could use in the Forex market. I call the last type of book "glossary" books because that's all that they are: A collection of definitions and descriptions with no step-by-step methodology. [ More information ]

Chapter 1: Trading ForeX

"You may be asking yourself, "Why haven’t I heard of this market before now?" If this trading market is relatively new to you, don’t feel like you are alone. Let’s explore what every trader or investor needs to know about Forex. The foreign exchange or “Forex” (also called the spot market) is the largest market on the planet. This is an irrefutable fact. Its average $1.5 trillion to $2 trillion traded per day is almost 100 times that of the $25 billion of the NYSE. And while we will be discussing this in depth later, remember, size has its advantages. The Forex market may seem like a new market to those of us in the United States but in actuality this market has been around for many years. There are two developments that brought Forex trading to life and to the United States. First was the decision that led to the free-floating market we trade today. The catalyst was President Richard M. Nixon’s decision to abandon the gold standard in 1973 (...)"

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Published on  Thu, Apr 19 2007, 13:12 GMT