The Fx bootcamp guide to strategic and tactical forex trading

The Fx bootcamp guide to strategic and tactical forex trading PDF will take care of the rest. It will teach you how the market works and how to trade it. By reading the market first and then making logical entry and exit decisions based on your thoughtful analysis in advance, you reduce the risk of making a poor trade. You simply set a trap for price. If price falls into your trap, you trade your plan. If it does not, you set another trap and wait. In other words, take the high ground and wait for your adversary to come to you. Do not fight on a level playing field.

2022 update: We’re sorry, this book is currently not available! (DMCA)

Category: Forex

Author: Wayne McDonell

Language: English

Download link: At the end of the post

WHAT IS NOT IN THIS BOOK

Fluff! I assume that you know what a pip is and that forex volume is over $2,000,000,000,000 per day. I’m not going to convince you to trade forex. You should be at or near that conclusion now all on your own.
This book will take care of the rest. It will teach you how the market works and how to trade it.

Introduction

Sun Tzu teaches that there are four stages of planning for victory:
1. Gather intelligence.
2. Formulate strategy.
3. Execute plan.
4. Exit plan.
Creating a trade plan will:
• Help you control your emotions.
• Help you implement your analysis.
By reading the market first and then making logical entry and exit decisions based on your thoughtful analysis in advance, you reduce the risk of making a poor trade. You simply set a trap for price. If price falls into your trap, you trade your plan. If it does not, you set another trap and wait. In other words, take the high ground and wait for your adversary to come to you. Do not fight on a level playing field.

Your strategic planning will give you a tactical advantage and you are more likely to be victorious. You are not guaranteed success, but the odds are much more favorable and less risky. By creating a plan in advance and waiting to execute it, you remove a lot of emotion from your trading. You are no longer reacting to the market, you are simply executing your plan. In fact, you will be spending more time waiting for your trade setups than trading. Inevitably, this is less stressful.

Removing emotion will help you avoid stupid trades based on greed and fear. By relying on logical plans, your trading becomes repeatable. By trading when the market is behaving in predictable ways (this is what your plan really is—your prediction of future price action based on past results), you are removing stress. Stress is a form of risk, and you need to manage it if you are going to succeed on a long-term basis. Imagine trying to trade forex the next 30 years when every time you pull the trigger you start to sweat bullets. Trading like this, you will eventually have an emotional breakdown. Reduce stress!

Planning your trades and trading your plans will reduce a lot of risk—and stress—in your trading career. In addition, conservative, repeatable trade plans will also increase:
• Control
• Consistency
• Confidence
By virtue of the repeatability of your trade planning, you will control your emotions and bring consistency to your trading. Once you are able to trade profitably on a consistent basis, your confidence will skyrocket.
In my experience working with forex traders from more than 50 countries around the globe, I know that confident traders are much more likely to trade their plans.

When traders consistently plan their trades in advance and are confident enough to pull the trigger when they are supposed to, they have a sense of control. It may be an illusion, as the forex markets are chaotic, but think about it
this way: Who do you think the 10 percent of the traders making 100 percent of the money are?
a. The consistent and confident traders with a sense of control because they plan their trading in advance.
b. The traders who pull the trigger based on gut feeling and who react to the market.

Contents- The Fx bootcamp guide to strategic and tactical forex trading PDF

Preface
Introduction

PART ONE – Basic Training
CHAPTER 1 – Lagging Indicators
CHAPTER 2 – Leading Indicators

PART TWO – Strategic Analysis
CHAPTER 3 – How to Gather Market Intelligence to Formulate a Trading Strategy
CHAPTER 4 – The Carry Trade
CHAPTER 5 – Forex and the Fed
CHAPTER 6 – Commodity Correlations
CHAPTER 7 – Greenback Guru: Why You Should Specialize in Trading U.S. Dollars

PART THREE – Rules of Engagement
CHAPTER 8 – Market Analysis
CHAPTER 9 – Fundamental Analysis
CHAPTER 10 – Technical Analysis
CHAPTER 11 – Risk Analysis

PART FOUR – Tactical Planning
CHAPTER 12 – Candlestick Patterns
CHAPTER 13 – Range Trading
CHAPTER 14 – Trading the News

PART FIVE – Psychological Warfare
CHAPTER 15 – How to Cope with Pre-and Post-Trading Stress Disorders
CHAPTER 16 – Trade Journals Elements of a Good Trade Journal
CHAPTER 17 – Target Practice
CHAPTER 18 – Three-Year Plan
CHAPTER 19 – Closing Notes
Index

About the author

Wayne McDonell is the Chief Currency Coach of FX Bootcamp (www.fxbootcamp.com), a live Forex training organization. He is a professional Forex trader, a member of the National Futures Association, and a registered Commodities Trading Advisor. Respected in the Forex industry as a successful trainer, McDonell is a regular speaker at major investing conferences and expos in Asia, Europe, and America. His videos are syndicated around the world on outlets including Forex Television, FXstreet.com, MoneyShow.com, and MSN. His live trading Webinars have attracted up to 1,000 traders each. McDonell has written “how-to” articles for investing magazines, such as Your Trading Edge and the FOREX Journal magazine. He has also received notoriety in the National Post, TechWeek, Interactive Week, and Inc. magazine to name a few

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2022 update: We’re sorry, this book is currently not available! (DMCA)

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