Forex Trading Book Bundle: Forex Trading Success, #5

Welcome To The Forex Trading Book Bundle

Book #1 – FOREX TRADING TIPS - contains carefully selected, time-tested, real-world Forex trading tips/rules/guidelines gathered from numerous successful traders from all over the world. One of the most effective ways to become successful in any endeavor is to model yourself after those who are already successful.

The tips/rules/guidelines in Forex Trading Tips will not only help to get you on the right path to successful Forex trading, but help to keep you on the right path.

These useful tips are arranged based on a variety of Forex trading topics for your quick and easy reference.

Book #2 – FOREX TRADING FOR BEGINNERS - An incredible opportunity to profit in the Forex market awaits you. If you've never traded Forex before or have traded Forex unsuccessfully, then Forex Trading for Beginners is for you. Whether your goal is to trade Forex as a hobby, trading part-time for extra income, or trading for a living you will find useful information to help you reach your Forex trading goals.

Book #3 – FOREX TRADING STRATEGIES - Learn To Trade Successfully With Price Action Forex Trading Strategies. A proven Forex trading strategy allows a trader to stay focused and profit in the market. Every successful trader uses trading strategies and you should too. Price action trading strategies are some of the simplest and most effective ways to trade Forex. In "Forex Trading Strategies" you will learn a number of simple methods for trading price action. These strategies are clearly illustrated with the use of over 50 full-color Forex trading charts.

Book #4 – TECHNICAL ANALYSIS - Learn The Power of Using Simple Technical Analysis Techniques. Although the phrase technical analysis may sound complex it really doesn’t have to be. Technical analysis is a market analysis technique used by successful individual traders and financial institutions the world over to analyze markets to find opportunities to profit.

Here are just a few of the things you will learn in Technical Analysis:

Learn The Basics of Technical Analysis - Learn what technical analysis is as well as the basics of technical analysis. See examples of how technical analysis is used to create simple trading strategies.

Money Management - Learn the basics of one of the most underutilized, most powerful of all trading concepts, money management. Learn how money management can grow your account size larger and faster all without increasing your level of risk.

Trading Strategy Evaluation - One of the most important things you will learn in this book is how to evaluate the performance of a trading strategy. This skill is essential whether you intend to build your own strategy or buy a commercially-available strategy. Learning a few simple strategy evaluation techniques can save you a lot of time, money, and grief.

Table Of Contents

Forex Trading Book Bundle

Welcome To The Forex Trading Book Bundle

Table Of Contents

Forex Trading Tips

Introduction

Getting Started

Learn Forex Trading

Forex Trading Plan

Forex Trading Strategies

Forex Brokers

Forex Technical Analysis

Forex Charts

Forex Price Action Trading

Forex Indicators

Forex Demo Accounts

Forex Robots

Forex Reviews

Forex Day Trading

Managed Forex Accounts

Forex Trading Basics

Risk Control

Trading Discipline

Forex Myths

Conclusion

Your Free Gift

Forex Trading For Beginners

Why I Wrote This Book

Why You Should Read This Book

Introduction

What Is Forex?

Why Trade Forex?

How Do We Make or Lose Money Trading Forex?

How To Trade Forex

Technical Analysis Basics

Forex Price Charts

Forex Indicators

Introduction To Forex Trading Systems

Risk Control

Recap

Conclusion

Forex Trading Strategies

Why I Wrote This Book

Why You Should Read This Book

Introduction

Forex Charts

Inside Bar Trading

Channel Breakout Trading

Support and Resistance Trading

Channel Breakout & Support and Resistance Trading

TrendLine Trading

Candlestick Trading

Price Action Price Patterns

Fibonacci Trading

Price Action Combination Trading

Recap

Conclusion

Technical Analysis

Why I Wrote This Book

Why You Should Read This Book

Introduction

What Is Technical Analysis?

The Basics of Trading Strategies

Trading Strategy Optimization

Trading Strategy Optimization – Forward Testing

Money Management Basics

Performance Metric Basics

Recap and Conclusion

Copyright and Disclaimer

Forex Trading Tips

Top Tips For Successful Forex Trading

Cedric Telstine

Copyright © 2014 Cedric Telstine

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Introduction

Successful Forex traders don’t become successful by accident. They follow a tested and proven set of rules which help them trade effectively.

This book contains many time-tested Forex trading tips/rules/guidelines gathered from numerous successful traders from all over the world. One of the most effective ways to become successful in any endeavor is to model yourself after those who are already successful.

Inside you will find tips/rules/guidelines ranging from tips on getting started in Forex trading to tips on such important topics as Forex trading strategies, Forex price action trading, and much, much more.

The tips/rules/guidelines will not only help to get you on the right path to successful Forex trading, but help to keep you on the right path.

These useful tips are arranged based on a variety of Forex trading topics for your quick and easy reference.

Getting Started

Do Not Take Forex Trading Advice from People Who Do Not Trade – Forex is one of those topics where everyone seems to have an opinion. Quite naturally, some of those opinions are much more valuable than others. The advice that will steer you in the right direction will come from those who have and are trading Forex successfully.

Understand Why You Want to Trade Forex – One of the first things you want to do is to understand the underlying reasons that you want to trade Forex. While, to make money, is the obvious reason you may have your own personal reasons in addition to this most popular one. Whatever your reasons, make sure they align with your actions. In other words, if your underlying reason for trading is the excitement rather than profit, the excitement may be the only thing you get from trading.

Have Realistic Expectations – When you are just starting out you see advertisements for tons of Forex trading products that make absolutely ridiculous claims. Believe it or not there've even been products that claimed to produce 100% winning trades. Don't believe the hype. Such claims are nonsense and are to be ignored. Remember, that the most successful traders in the world don't have 100% winning trades and that includes those who are billionaires.

Think Long-Term – Start off on the right path by thinking of your Forex trading as a marathon rather than as a sprint. Many beginning traders are in a huge rush to get rich quickly and this is a huge mistake. Thinking long-term can help you avoid being in an unnecessary rush and taking risky trading shortcuts.

Learn Forex Trading

Learn to Trade Forex – While it might seem obvious that you need to learn to trade Forex before you trade Forex, many newcomers dive in without the proper Forex training.

Take a Forex Trading Course – Taking a solid Forex trading course can help you to get started on the right path. A good basic Forex trading course will be one which answers the following questions (this list of questions is by no means all inclusive):

- What is Forex?

- What is Forex trading?

- How is profit made in Forex trading?

- What risks are involved in Forex trading and how are those risks controlled?

- What are Forex symbols and Forex quotes?

Select the Forex Training That Is Right for Your Experience Level – While it may be tempting to jump ahead to more advanced training, it is suggested that you, crawl before you walk. You can start off with an introductory course that teaches the basics of Forex trading. When you gain more experience and feel comfortable with Forex basics you can then move on to the next level of training.

Use A Forex Demo Account To Help You Learn – A Forex demo account is a great way to learn Forex trading. With a demo account, you can actually see how your trading ideas perform in real time. This type of learn by doing experience is invaluable.

Forex Trading Plan

Always Have a Forex Trading Plan – It is important in any business to have a business plan and Forex trading is certainly no different. Your Forex trading plan is your roadmap to Forex trading success.

A Trading Plan Doesn’t Have to Be Complicated – The word, plan is a turn-off to many people because it sounds like there is effort involved. While it is true that there is effort involved that doesn’t mean that creating a trading plan has to be tedious. Here’s a quick and easy way to create your preliminary trading plan:

Let’s imagine that you have a friend that wants you to invest money with him to trade Forex. Think of what questions you would ask your friend so that you would have a good idea of how he planned to invest your money. Here are some sample questions to get you started:

How much money will I need?

Which currency pairs will you be trading?

What Forex trading strategies will you use to trade?

Why will you be using those particular Forex trading strategies?

Have your Forex trading strategies been tested?

What are the results of your testing?

What is the risk involved?

How will you control the risk?

What is our expected rate of return?

What expenses will we have? Equipment, software, services, etc.

What is your objective?

… Etc.

OK, you get the idea. Now, ask yourself these very same questions. The answers to these questions can form the basis of a very basic Forex trading plan.

Forex Trading Strategies

Always Trade Using Forex Trading Strategies – The most successful Forex traders in the world, both individuals and institutions, use Forex trading strategies. A Forex trading strategy is essentially a set of rules designed to trade Forex profitably. Your Forex trading strategies are an integral part of your Forex trading plan.

Learn How to Evaluate Forex Trading Strategies – Learning how to evaluate Forex trading strategies is an important skill to develop. Quite naturally, this is of great importance when you are developing your own strategies.

It is also necessary to know how to evaluate trading strategies if you decide to buy a commercially available Forex trading system. Why? Because it is important to evaluate the performance of the system prior to making the purchase. It simply would not make sense to purchase a trading system whose performance you were not sure of.

Good Forex Trading Strategies Don't Have To Be Complex – Contrary to popular belief good trading strategies don't have to be complex to be extremely effective. In fact, some of the simplest strategies, also happen to be some of the most robust. With that said, don't be put off by a strategy’s simplicity, but focus on its performance instead.

Always Thoroughly Test Your Strategy before Using It in Live Trading – While it seems completely logical to test your strategy prior to trading with real money, you'd probably be surprised at how many people simply dive in. If you hear a little voice in your head that says, I'll just start trading now with real money and see how it goes, simply ignore it.

After you have tested your strategy on historical data and are satisfied with its performance you can then trade the system using a Forex demo account. Once you're satisfied with how your strategy performs in a demo account, you can then begin trading in a real money account.

Develop Your Own Trading Strategy – Your objective is to learn Forex trading in order to learn how to develop your own trading strategy. Why? Because trading strategies are not necessarily created as one size fits all.

You want a trading strategy that is suited to your particular wants and needs. The reason is that while there are many profitable trading strategies available, they may not all be suitable for you. For instance, there are some very profitable trading strategies that can yield huge returns, but the risks involved may not be suitable for you. This is important because this may make this type of strategy difficult for you to trade. If a strategy is difficult for you to trade you may not stick with it in the long run… and you don’t want that.

You can develop your own trading strategy as you learn more about Forex trading. Some have taken strategies that they have discovered through Forex courses or other training and adapted them to suit their particular needs.

By developing a trading strategy that is well suited to you, you can increase your probability of long-term trading success.

Forex Brokers

All Other Things Considered Find a Broker with the Lowest Transaction Costs – Forex brokers make their money on the spread. It makes sense to find the broker with the lowest possible spreads.

Open a Demo Account so That You Can Test the Broker’s Trading Platform – When you open a demo account, you have an opportunity to see how the brokers trading platform (the software you will use to trade) works in real-time.

Check to See If There Are Any Miscellaneous Fees – You can typically find out about any miscellaneous fees by going to the broker's website. It is important to know any and all fees that may be associated with trading with a particular broker as these will affect your bottom line.

Research the Broker's Level of Customer Service – Checking out your broker’s customer service can be as easy as going to their website and locating their contact information. From there send them a simple email requesting some general information and see how quickly they get back with you. Also, feel free to contact them via telephone with any questions you might have.

Check with the Commodity Futures Trading Commission (CFTC) – Go to the CFTC's website at http://www.cftc.gov. Here you can find out if a broker is meeting the minimum capital requirements as well as if there are any complaints against them.

Look for an Alternate Order Placement Method – Most all Forex trading is done using Forex trading platforms. Keep in mind that the platform will send your orders as long as you have an Internet connection. On the off chance it your Internet connection goes down, it's always a good idea to have an alternate method of placing or checking on orders. Make certain that you can reach your broker, by phone to place, check in, or modify your trading orders.

Forex Technical Analysis

Learn Forex Technical Analysis – Technical analysis has become a widely used method to analyze the Forex markets. Technical analysis makes use of the price, time, and volume data of a currency pair. Technical analysts essentially believe that all things affecting the price of the currency pair are reflected in the price of the currency pair.

Before you begin to use technical analysis, it is essential that you learn technical analysis beforehand. Why? Because by studying technical analysis you will learn how to determine how and when to enter and exit trades. Ultimately the goal of your technical analysis will be to develop a well thought out and effective Forex trading strategy.

Forex Technical Analysis Isn’t As Complicated As It Sounds - Although the phrase, technical analysis may sound as if it's a complicated form of analysis that is not necessarily true. Simple technical analysis techniques can be quite effective. With that said, it really isn't necessary to overcomplicate things. Even Albert Einstein said, Make everything as simple as possible, but not simpler.

The next three sections will cover technical analysis using Forex charts, Forex price action, as well as Forex indicators.

Forex Charts

The First Step in Technical Analysis Is Observation – One of the easiest ways to get started in Forex technical analysis is by using Forex charts. A Forex chart is constructed using a currency pair’s price and time data. The price of the currency pair is plotted on the y-axis (vertical) whereas the time is plotted on the x-axis (horizontal) as shown in our chart above.

Quick Chart Overview: The particular chart we are looking at above is