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    Forex Trading: Uncut: High Probability Forex Trading Tactics and Scalping Strategies for Improving the Odds in the Largest, Most Unpredictable Financial Market
    Forex Trading: Uncut: High Probability Forex Trading Tactics and Scalping Strategies for Improving the Odds in the Largest, Most Unpredictable Financial Market
    Forex Trading: Uncut: High Probability Forex Trading Tactics and Scalping Strategies for Improving the Odds in the Largest, Most Unpredictable Financial Market
    Ebook91 pages1 hour

    Forex Trading: Uncut: High Probability Forex Trading Tactics and Scalping Strategies for Improving the Odds in the Largest, Most Unpredictable Financial Market

    By Donjo T. Franklin MBA

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    About this ebook

    FOREX is the largest financial market in the world with daily
    trading volume that can surpass 4 trillion dollars a day. This is perhaps
    the single largest factor for why many try to tackle this widely untapped
    means of investing. The countless opportunities are too great to ignore,
    which lead the majority to try this exciting market only to be left tasting
    their own defeat. Many of these aspiring traders jump into this market
    without a plan and usually fall subject to the psychological failures of
    trading: fear and greed.


    In this book you are expected to learn the following:


    &nbsp&nbsp The ends and outs of trading the Forex and how to succeed

    &nbsp&nbsp How professional traders overcome fear and greed utilizing a

    &nbsp&nbsp&nbsp trading plan that focuses on probability and calculated risk

    &nbsp&nbsp Specific scalping strategies that focus on precise entry and

    &nbsp&nbsp&nbsp flexible exit points

    &nbsp&nbsp The importance of predefined risk to reward ratios

    &nbsp&nbsp And much more........


    Trading the Forex can be extremely exciting and profitable but it
    requires a trading plan that balances risk and reward. Trading the Forex
    without a plan is like sky diving with a defective parachute, chances of
    survival are slim. This book will help uncover highly probable trading
    methodologies and tactic for creating an edge in trading the Forex.
    LanguageEnglish
    PublisherAuthorHouse
    Release dateNov 7, 2010
    ISBN9781452092249
    Forex Trading: Uncut: High Probability Forex Trading Tactics and Scalping Strategies for Improving the Odds in the Largest, Most Unpredictable Financial Market
    Author

    Donjo T. Franklin MBA

    A native of Canton, MI, Donjo Franklin completed the Bachelors of Economics Degree (2005) on an academic scholarship and later the Masters of Business Administration in Finance (2010). He is currently working on the Doctorate Degree in Finance. Donjo holds the professional designations Series 3 Commodity Futures License and the newly created Series 34 Retail Off-Exchange Forex License. Donjo conceptualized Franklin Global Capital, (an extension of an idea that had sprouted in college.) FGC congealed as an official firm in 2008-2009 when the company became a National Futures Association member and gained its CTA registration, with Donjo as NFA Associate Member, a Registered Associated Person (AP) and Approved Trading Principal of the firm. Donjo has been actively trading Forex since 2003. Over the years, he has developed algorithms for exploiting statistical relationships between currencies, exploring interconnections and phenomena outside of what were current mathematical concepts related to pair trading. From these explorations, Donjo developed the Franklin Volatility Index (FDX), an indicator designed to measure statistical relationships between positive and negative correlated currency pairs. For more General Information, Please Visit: www.FranklinGlobalCapital.com

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      Book preview

      Forex Trading - Donjo T. Franklin MBA

      AuthorHouse™ LLC

      1663 Liberty Drive

      Bloomington, IN 47403

      www.authorhouse.com

      Phone: 1-800-839-8640

      © 2010, 2014 Donjo T. Franklin, MBA. All rights reserved.

      No part of this book may be reproduced, stored in a retrieval system, or transmitted by any means without the written permission of the author.

      Published by AuthorHouse 06/26/2014

      ISBN: 978-1-4520-9222-5 (sc)

      ISBN: 978-1-4520-9223-2 (hc)

      ISBN: 978-1-4520-9224-9 (e)

      Library of Congress Control Number: 2010916646

      Certain stock imagery © Thinkstock.

      The DealBook® 360 screen captures in this book are used with permission from GFT. GFT and Donjo T. Franklin (Franklin Global Capital LLC) are separate and independent companies. GFT’s DealBook® 360 trading software is offered as a free service to GFT’s customers. However, GFT is not responsible for the information provided in this manuscript; this responsibility lies solely with Donjo T. Franklin (Franklin Global Capital LLC). Forex trading presents a substantial risk of loss with or without the use of GFT’s DealBook® 360 trading software.

      Because of the dynamic nature of the Internet, any Web addresses or links contained in this book may have changed since publication and may no longer be valid. The views expressed in this work are solely those of the author and do not necessarily reflect the views of the publisher, and the publisher hereby disclaims any responsibility for them.

      Table of Contents

      A Note to the Reader

      Introduction

      About Me

      Chapter 1: Getting Started

      Time

      The Right Perspective

      Expendable Capital

      Patience

      A Plan

      Demo Accounts

      The Lingo

      Chapter 2: The Psychology of Forex

      Remember the Definition of Investment

      Quitting While You’re Behind

      Quitting While You’re Ahead

      Playing With Real Money

      The Market Has No Feelings

      Overcoming Frustration

      Enjoy This Adventure

      Chapter 3: The Game Plan

      The Plan

      Chapter 4: Attacking With Discipline

      Taking Profits and Putting in Stops

      Keeping Track and Adapting

      Setting Goals and Sticking to Them

      Playing the Odds

      Force Yourself to be Patient

      Respect Leverage

      Chapter 5: Changing With the Game

      Identifying New Opportunities

      Consistency Is Adaptability

      Chapter 6: Thinking Long-Term

      Where Do You See Yourself in Five Years?

      Do the Math

      Be Rigid While Learning to be Flexible

      Donjo is a single parent to his son. He credits his parents for their unconditional love and recognition of his gift at an early age. Donjo also appreciates his younger sister for her admiration and support. Thank you for always believing in me.

      A Note to the Reader

      If you’ve picked up this book then I assume you have an interest in trading currencies on the foreign exchange market (Forex) and that you have at least a basic understanding of what the market is and how it works. This book is designed for people who are ready to begin trading on demo accounts in preparation for trading with real money. This book is too short to encompass a complete Forex education, including the basics and terminology, and so will not spend much time discussing beginner-level material.

      That’s not to say that I don’t want you reading this book if you’re a beginner in Forex. Understand, however, that the strategies and market conditions discussed in the book are discussed at a level more appropriate to people who have already studied the Forex market to some extent and who are looking for specific strategies rather than general knowledge. There are plenty of Web sites and books already available for the curious, beginner trader and I encourage you to explore them prior to reading this book.

      Introduction

      As the executive chairman and CEO of Franklin Global Capital, it’s my job to understand the Forex and to apply proven strategies for staying profitable. Toward that end, I have used my extensive experience in currency trading to build a game plan that is conservative and methodical and that has proven successful over time. My methodologies will make you a lot of money if you stay disciplined and consistent in following the strategies in this book, but this book is not geared toward overnight riches.

      In building my strategies and tactics over the years, I’ve learned quite a few valuable lessons about the unique nature of Forex. It is a dynamic market that draws people from all over the world and it will humble you quickly if you do not treat it with respect. It has the potential to make you rich, and quickly at that, but it can take your money just as quickly if you are careless.

      Because of the dynamic potential in Forex, and the possibility of earning a great deal of money very quickly, many people enter the market without proper care. The results are predictable: lost money and a false belief that no one can win in Forex. You can win in Forex, despite what flameouts might say about the market, but my experience has taught me to treat the market less as a lottery and more as a career that requires lifelong learning and discipline.

      In this book, I will share with you the tools for trading currency that are crucial to avoiding the beginner’s pitfalls. Some of these tools are related directly to the process of trading itself, but much of this book is dedicated to one truth about Forex in particular: Psychology plays a huge role in a trader’s ability to perform well. In fact, I would say that the single greatest challenge to succeeding in the market is steeling yourself to make decisions that are rational and detached—not an easy thing when your own money is at stake.

      Risking your own money in a market that moves very quickly is thrilling. There are tremendous highs as you watch your pips accumulate on a dynamite trade, and there are jarring lows as you watch a trade collapse after having forgotten to put a stop in place to staunch the bleeding. How these highs and lows affect you will be the difference between staying the course with my game plan and losing your cool.

      Throughout the chapters of this book you will learn

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