Most Forex books are 90% background fluff and basic encyclopedia knowledge found for free online and about 10% strategy of only theoretical value. In other words, most books are scams with ~20 reviews presumably written by the author and his friends. This book is 90% specific practical guidlines and only about 10% on the basics or Forex. The Volume-Price Analysis Couling explains, (VPA), is working for me consistently - since I bought the book I'm profting about 1% of my account value per day on 2-3 trades a day. I'm shooting for 10 pips a day profit and keeping my risk limited to 1% of my account, and Couling's VPA is working beautifully for me.... doing 1-2 trades in the day of EUR/USD and 1-2 trades at night with USD/JPY. I'm scalping off the one minute charts, using hourly and daily charts to set the stage. I'm playing it very conservatively because I've been disappointed with several other strategies, but I can tell you that the more indicators you are using and the more clutter on your charts, the less likely you will succeed, IMO. Price and volume tell it all. In some sense Couling's emphasis on volume is a rehash of classic tape reading from the 1930s and she reminds me of how Nick Darvas simplified a practical strategy, but the essential contribution here is applying these stock trading compasses to Forex. Many Forex traders have too much "knowledge" and will be more profitable using volume alone instead of bands, oscillators, signals, macd, moving averages, etc. This is a quality book.
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Volume price analysis makes sense to me, and her (and others') assertions that the market is controlled by insiders whose moves can be seen by analyzing volume is the best explanation I've seen yet for why price action forms certain consistent patterns. My previous concept of technical analysis was that specific price patterns form when there are enough people who believe it will, simply a self-fulfilling prophecy, and I could never quite accept that as a reliable way to make money. Now I understand how volume affects candle formation, and how insider action is reflected in volume, and it's all logical. I can trade on that with confidence, which is the biggest thing I've gotten from these two books.
This book is specifically written with beginners in mind but by the time you're done reading it, you might feel like an expert. At just 82 pages, it's a pretty quick read but as the title suggests, the goal is to get you from Point A to Point B quickly so you can become an options trader. Think of it as the Cliff Notes guide to options, hitting all the key highlights that can help fuel your success.
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When it comes to currency trading you will note that the currency pair is always followed by a number. Let’s take an example from above, USD/JPY 108. In our case, the base currency is USD and is always equal to 1. Therefore, we have this proportion of 1 USD/JPY 108. This example shows that 1 USD and 108 JPY are equivalent. On the other hand, if we use JPY as the base currency according to the forex convention it will look like this JPY/USD 0.0092. Bear in mind not to swap two currencies and their values. Even though they at first glance seem different, dividing 1 with 0.0092 we will have 108 as the result, which means that the mathematical relation shouldn’t change.
Pretty much everything you need to know before you decide to make your first trade. 90% of forex traders rush into making trades and as a result lose a lot of money (a lot!) Instead we recommend understanding everything from the ground up, what can go wrong, what the market usually does and how violent the movements can be between 2 currency pairs. This is a must read before making your first forex trade.
The foreign exchange (FOREX) market is a financial market in which participants, such as international banks, companies or private investors, can both invest in and speculate on exchange rates. This market is considered one of the largest financial markets in the world in terms of trading volume. Indeed, the just-in-time price prediction for a currency pair exchange rate (e.g. EUR/USD) provides ... [Show full abstract]View full-text
In the previous paragraph, we have mentioned the term leverage. It is important to say, that people join the Forex market because it provides them with higher leverage, which is different from other financial instruments. This means that you can borrow a higher amount of money from your broker for your investments. Furthermore, borrowing the money from your broker and higher investments will provide you with the bigger potential to make a profit, because you will earn a precise percentage of your investment.
A whole lot of traders only use micro and mini lots. The thing is, large accounts are using Standard lots as these can bring the most profit. If we use the dollar example from above, it would mean that 1 pip equals $10. If there is a 20 pip movement you would have an equivalent of $200. This shows great potential for both profits, and, unfortunately, losses. Like we already mentioned, Standard lots are only for larger accounts, and you would need to have a larger capital to be able to invest in these.