Making Money in Forex: Trade Like a Pro Without Giving Up Your Day Job
Praise for Making Money in Forex\ "This book is truly superior and brimming with new strategies on supply and demand trading. If you have a 9-to-5 and are interested in trading forex, this book is a must-read. Ryan takes what for most is a complicated and hard-to-learn subject and breaks it down to its simplest form. Supply and demand is what moves prices, and anyone serious about making it in forex trading should read this undeniably compelling and terrifically rewarding book. It is an easy...
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"There must be options for someone who is stuck in a staff meeting when the market is roaring."—From the PrefaceAuthor Ryan O'Keefe is a private spot currency trader who has studied, traded, and written about the foreign exchange (Forex) market since his introduction to it at age seventeen. Although he has been around the currency markets his entire adult life, O'Keefe is not your typical "Wall Street" type. He learned to trade around the demands of his career and family, and developed a long-term trading style that resonates with retail currency traders who are trying to do the same.Now, with Making Money in Forex, O'Keefe explains his own personal journey to becoming a trader and shows you how to follow a similar path.Page by page, O'Keefe describes his approach to trading and reveals his "bargain hunting" trading style, which is designed to capitalize on market trends. Throughout the book, he pays a great deal of attention to trading psychology, learning to read price instead of indicators, and emphasizes that aspiring traders must find a strategy they are comfortable with and can implement with confidence.Written in a straightforward and accessible style, this reliable resource:? Addresses how you can successfully trade around the demands of your job and personal lifestyle can be used to reduce risk and maximize profits? Reveals how O'Keefe's bargain-hunting style can be used to reduce risk and maximize profits? Discusses how common trade-management techniques may impact overall performance? Provides insights into structuring trading to minimize stress? And much moreEngaging and informative, Making Money in Forex utilizes a conservative approach to trading that will help you build your skills over time and capture consistent profits without sitting in front of a computer screen all day.
Preface. Why Not Trade for a Living? Trading for Returns. Why this Book? Acknowledgments. Chapter 1: Exploring the Currency Market. What is Forex? Forex Roots. Forex Participants. Forex versus Exchange Markets. Trade Mechanics. Order Types. Margin and Leverage. Earning Interest. Selecting a Currency Dealer. Closing Bell. Chapter 2: Principles of a Bargain Hunter. Live Your Life. Learn to Read Price Action. Never Pay Full Price. Manage Your Risk. Manage Your Profit. Closing Bell. Chapter 3: Reading Price Action. Understanding Supply and Demand. Identifying Support and Resistance. Trading Price Action. Closing Bell. Chapter 4: Managing Risk. Always Use a Stop Order. Beware of Overtrading. Reducing Your Transaction Costs. Stop Thinking About Losses in Pips. Managing Risk Through Position Size. Manage Risk Consistently. Be Conservative with Trailing Stops. Is Losing 70 Percent of Your Trades Bad? Know When to Take a Break. Closing Bell. Chapter 5: Managing Profit. Common Profit Management Techniques that Increase Volatility. Identifying Profit Targets. Identifying Profit Targets with Fibonacci Ratios. Using Trailing Stops. Automating Profit with Limit Orders. Closing Bell. Chapter 6: Bargain Hunting Along the Edge. Determining Trend. Identifying a Bargain Day. Locating a Support and Resistance Zone. Managing Risk. Managing Profit. Example Trades. Closing Bell. Chapter 7: Bargain Hunting with Price Action. Identifying a Bargain Day with Price Action. Managing Risk. Managing Profit. Example Trades. Closing Bell. Chapter 8: Bargain Hunting with the Commodities Channel Index. The Traditional CCI Trade. The Bargain Hunter's CCI Trade. Managing Risk. Managing Profit. Example Trades. Closing Bell. Chapter 9: Bargain Hunting with Fundamental Data. Why Trade News? What News is Worth Trading? Which Currency Pair Should You Trade? Understanding Market Reactions. Trading a Fundamental Event. Closing Bell. Chapter 10: Achieving Consistency: Simple Steps Every Trader Can Take. Stop Searching for the Holy Grail. Fix Yourself First. Are You Really Going to Earn 100 Percent a Month? Consider Long Term Trading. Specialize. Develop a Written Trading Plan. Keep a Trading Journal. Demo Trade Properly. Closing Bell. Afterword: The Final Closing Bell. About the Author. Index.
