Turning losing Forex trades into winners PDF- Proven Techniques to Reverse Your Losses will not attempt to alter your trading style or trading system, but I will help you understand how to get out of a trade that is not working for you and how to recover from many losing situations.
Author: Gerald E. Greene
Download link: At the end of the post
If you use technical analysis, you are likely—or will be likely—to use candle charts. This is because candles can be used in any time frame and in any market, and they allow traders to spot turns before potentially large moves. As the one who revealed this charting method to the Western world, it is gratifying to see its popularity. However, with the candle charts’ universal availability and widespread use, there comes a downside—most traders are using them incorrectly. That is the reason my firm has such a strong focus on education (www.candlecharts.com/free education).
One of the most dangerous and common misuses of candles is trying to use them as a stand-alone trading vehicle. This is wrong. Candles are a tool, not a trading system. This is why I also show how to combine candles with Western technical tools and to always incorporate risk/reward analysis.
Equally important is money management—that is, proper trade size. For example, what is the proper trade size to enter a position? How do you scale into or out of a trade? How do you adjust trade size for your risk tolerance level? These are important questions, but they are beyond the scope of my expertise. That is why I am pleased to strongly recommend this excellent book.
Based on working with some of the top institutional traders, I can tell you that many of the most successful ones have had more losses than gains. How did they accomplish this? The answer is by the judicious use of stops and proper trade size. So if you are picking up this book, congratulations: You have taken the first steps in following in the footsteps of such successful traders.
There is a Japanese Samurai saying, “He whose ranks are united in purpose will be victorious.” By merging the timing advantages of candles with the discipline of proven money management as revealed in A Trader’s Money Management System, you will become a more confident and successful trader. As an extra bonus, you will have less stress!
Steve Nison, president of Candlecharts.com
Author of Japanese Candlestick Charting Techniques
Contents- Turning losing Forex trades into winners PDF
CHAPTER 1 Trading Systems
CHAPTER 2 Trend Lines & Trend Walls
CHAPTER 3 Convergence & Divergence
CHAPTER 4 The Bad Trade
CHAPTER 5 Bad Trade Recovery
CHAPTER 6 Loss Recovery with MACD
CHAPTER 7 Loss Recovery with Stochastics
CHAPTER 8 Loss Recovery with Moving Averages
CHAPTER 9 Loss Recovery with Fibonacci Ranges
CHAPTER 10 Loss Recovery with Trend Lines
Conclusion: Loss Recovery in Practice
Appendix: Ten Pips per Day
About the Author
About the author
Gerald E. Greene has worked primarily as a software engineer and consultant for most of his 40-year career. In 2001 he was intro- duced to Donald Snellgrove, who at that time was forming Concorde Forex Group, Inc. for the purpose of providing education services to Forex traders worldwide. As a senior vice president for CFG, he developed the proprietary charting software that is used by CFG traders. He has also been heavily involved in supporting all aspects of the CFG educational programs.
He posts his Forex market opinions on the Internet three times each day at www.cfgtrading.com for Concorde Forex Group traders worldwide. He can be reached via email at email@example.com.
Download ebook Turning losing Forex trades into winners PDF
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