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    Tested Forex Strategies
    Tested Forex Strategies
    Tested Forex Strategies
    Ebook51 pages31 minutes

    Tested Forex Strategies

    By Wayne Walker

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    About this ebook

    Learn the techniques that professional and successful traders use. These concepts have been tested and backed by clients from his classes.


    Bonus Content: Forex News Trading Strategies, Delta Concepts, and Other Insider Tactics.


    •Click the buy button to begin the journey toward greater profits!

    LanguageEnglish
    PublisherPublishdrive
    Release dateMar 19, 2017
    ISBN9781386392293
    Tested Forex Strategies
    Author

    Wayne Walker

    Wayne is known for the success that his students and readers of his books have. He is a trader trainer, coach and entrepreneur in demand. From his base in Copenhagen, this demand has led to trader training & speaking engagements in the United States, China, Jamaica, Norway, United Kingdom, Sweden, etc. Prior to Europe, he was based in New York City. His books are used to teach some of the world's brightest for ex. at Copenhagen Business School & Nanjing University. He is also a guest columnist to several financial magazines, for example CryptoCoin.news and in Spanish at Estrategias de Inversión. He has held several positions in investment banking including: Regional Manager for teams of Investment Advisors servicing North America & Middle East Regions (based in Denmark and London), Training Consultant to financial institutions. He also headed the Trader Training program at a leading investment bank. 

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      Book preview

      Tested Forex Strategies - Wayne Walker

      situation.  

      Introduction

      Instead of spending thousands of dollars, or reading 300 page books, you can learn the realistic essentials of trading in dramatically less time. This is not watered down with short cuts. The guide contains the techniques that professional and successful traders use. These concepts have been tested and backed by client testimonials from my seminars.

      My firm awards a trading diploma based on these techniques that has been adopted by several universities.

      What is Forex?

      In this chapter we will examine the foreign exchange market, the participants, what makes the market move, and why you should want to trade it. 

      So what is Forex (Foreign Exchange) or FX as many people call it? , it is the world’s most liquid market. The average daily turnover is over 3 trillion US Dollars. This is a huge number, but to put it in perspective, one day of FX is roughly 2 to 3 months of trading volume on the New York Stock Exchange. This is powerful, it means a lot of liquidity and that a lot of people are involved in it.

      It is OTC traded, meaning over the counter with no central exchange, in contrast to the equity or commodity markets where there are central exchanges that buyers and sellers meet. With FX, it is just you and your broker/dealer.

      It is open for 24/5 trading, from Sydney 5 AM on Mondays to New York 5 PM on Fridays. Plenty of time, allowing for round the clock trading.

      Centers and Participants

      Who are the people that are involved in this FX phenomenon?

      First we will take a look at the FX centers. The main centers of FX are the UK, US, and Japan. They are responsible for the bulk of the trading.  Australia, Singapore and Switzerland are also important players in the market, but the main players remain US, UK and Japan.

      Banks and Financial Institutions

      It is primarily major banks and financial institutions, they account for roughly 50% of the transactions. They trade electronically amongst themselves.

      The central banks are also involved and their role is to intervene in an attempt to influence the value of their currencies.

      Let us take a closer look at this. Maybe the most famous of central banks, the Federal Reserve Board, they and also the Bank of Japan, are at times known to be active participants in the market in an attempt to influence the strength or weakness of their currencies. A FX trader must be aware of the roles that they play.

      Additional Participants

      There are now FX hedge funds, years ago if you mentioned FX hedge funds most people would not know what you were talking about, because they did not exist. There are funds that trade either one particular currency or regional currencies,

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