Forex on Five Hours a Week: How to Make Money Trading on Your Own Time
Praise for Forex On Five Hours A Week\ "The style allows Raghee Horner to tackle the thorniest concept for beginning traders to understand from the outset—shorting. The explanation is one that is the best I've read in many a book, all because she is conversing with you within the pages."\ —KIARA ASHANTI, ACTIVE TRADER MAGAZINE\ "Just who is Raghee Horner? That's easy. If you are a forex trader, Raghee Horner is a young woman who can change your life. She can turn your losses into profits. She...
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Trading the forex market has become one of the most popular forms of trading, mainly because of its twenty-four-hour access and the fact that there is always a bull market available in this arena—a concept that is rather attractive today. But what if you don't want to become a full-time trader? What if you just want to spend some time trading because you already have a job you like? Or what if you're just looking to make a few extra dollars every month trading on the side? That's where Forex on Five Hours a Week comes in. With this book, author Raghee Horner—a top forex trader and trusted teacher of trading systems—distills her forex strategies into the most streamlined systems possible, and shows those with little time to dedicate to the market everything they need to know to capture consistent profits. By sharing her extensive experience in classic charting techniques, price action, and market psychology, Horner enables traders and investors of any skill level to quickly capitalize on, and make money from, the forex market. Page by page, she lays out a blueprint for fitting forex trading into your current schedule and skillfully addresses how to analyze the market, use visual and objective tools, and formulize a successful trading plan. Along the way, Horner also covers many other essential elements of this discipline, including focusing on the right indicators and set-ups, working across multiple time frames and pairs, and understanding the role of individual financial centers. Successful trading shouldn't be defined by time, but more importantly, by results. With Forex on Five Hours a Week as your guide, you'll learn how to execute successful forex trades without spending every waking hour in front of a computer screen.
Preface viiAcknowledgments xiChapter 1 Making Money in Up and Down Markets 1Fill in the Blanks 2A Bull Is on the Loose! 3Shorting 4Chapter 2 Full-Time Trading=Full-Time Job 9Employee Mindset 11Confessions of a Chart Junkie 12Analyzing the Market 14Identify the Trend 16Time Frames 16Chapter 3 The Wave 19Sinking, Soaring, or Sideways? 23Market Cycles 23A Wish 28Market Memory 28Trade with Price 31Chapter 4 Objectivity 33Indicators 34Order Entry 35Stop Loss 36Risk Management 38Trendlines, Support, and Resistance 41Static and Dynamics Lines 41Chapter 5 The Magic of Lazy Days Lines 43Fibonacci Analysis 44Lazy Days Lines at Work 45Using Lazy Days Lines 46The Wave in Action 48Real-Life Lazy Days Lines 54Comprehension + Confirmation = Confidence 55Chapter 6 The Only Entries You Need 57Momentum Trading 58Swing Trading 63Short Cycle Set-Ups 68Inside the Range 71Chapter 7 Around the World 73Who's Awake? 74Financial Centers You Need to Know 75Prime Time! 76Pip Movement 81A Day with the EUR/USD 82Time Out! 85Choosing Your Trading Time 95Chapter 8 Market Pulse 97U.S. Dollar Index and USD/CAD 104U.S. Dollar Index and AUD/USD 110Chapter 9 Trading Psychology 117Stay in Balance 119The Role of Experience 120Trading for Real 123The Psychology of Market Cycles 125The Psychology of News 125The Psychology of Time 127The Psychology of Numbers, Entries, and Exits 128Chapter 10 Psychological Numbers 131Using the Herd 133The 200 SMA 13352-Week Highs and Lows 135Chapter 11 Trading Edge 137The Right Side of the Chart 145ConsumerConfidence 146Risk Appetite 148Sell the News 148Chapter 12 Is My Broker Friend or Fee? 153The 2 Percent Question 155Stop Loss Placement 156Triage 158Trading Truths 158Chapter 13 Embracing Automation 163Charting Tools 166Profit Targets 166Fifteen-Minute Set-Ups 170Chapter 14 Raghee Recommends 179Final Thoughts 183Index 187
