Forex Patterns and Probabilities: Trading Strategies for Trending and Range-Boun

Description: FREE SHIPPING UK WIDE Forex Patterns and Probabilities by Ed Ponsi While most books on trading deal with general concepts and shy away from specifics, Forex Patterns and Probabilities provides you with real-world strategies and a rare sense of clarity about the specific mechanics of currency trading. FORMAT Hardcover LANGUAGE English CONDITION Brand New Publisher Description While most books on trading deal with general concepts and shy away from specifics, Forex Patterns and Probabilities provides you with real-world strategies and a rare sense of clarity about the specific mechanics of currency trading. Leading trading educator Ed Ponsi will explain the driving forces in the currency markets and will provide strategies to enter, exit, and manage successful trades. Dozens of chart examples and explanations will guide you each step of the way and allow the reader to "look over the shoulder" of a professional trader hard at work at his craft. This book provides traders with step-by-step methodologies that are based on real market tendencies. The strategies in this book are presented clearly and in detail, so that anyone who wishes to can learn how to trade like a professional. It is written in a style that is easy to understand, so that the reader can quickly learn and use the techniques provided. Back Cover Praise for FOREX PATTERNS & PROBABILITIES "Ed has the experience, he has the knowledge, and he has the ability to wrap it all up into one of the most useful and insightful books on trading that Ive read. Youre going to be a better trader with the help of this book." --Rob Booker, independent currency trader, and author of Adventures of a Currency Trader "This book is a must-read for any equities trader who is trying to learn the ins and outs of the forex markets. Ed has the rare gift among traders and educators to take complex trading theories and break them down into interesting and easy-to-digest trading concepts. I have personally had the benefit of studying live with Ed, and I found this book a great review of my live courses with him and now use it as my main forex reference book in my trading library. Ed you truly are the rock star of the FX markets. Well done!" --Michael J. Di Gioia, cofounder, the Results-Driven Financial Network " Forex Patterns and Probabilities is one of the best practical forex trading books I have read, and I have read a good many forex books! Ed thoroughly teaches those areas that cause most difficulty for new traders, from economic fundamentals to technical trading to the psychological aspects that are so important but ignored by so many new to trading. Peppered throughout with anecdotes from the trading and non-trading world, Eds easygoing, homespun style gets his message across very effectively. This work is destined to become essential reading for both new and established traders." --George Hallmey, Director, "Ed Ponsi is a complete teacher! Forex Patterns and Probabilities covers it all for forex and trading in general. This book will teach you the foundations, the tactics, the pitfalls, and the real world of forex. As Director of Education for the Online Trading Academy, I understand the importance of education and trading knowledge. . . Forex Patterns and Probabilities, while focused on forex, allows the reader to see the nuances of trading in general--fundamental, technical, psychological, plan management, and a strong, healthy dose of risk management and discipline." --Mike McMahon, Director of Education, Online Trading Academy Flap In recent years, traders have turned to the foreign exchange market expecting to capture substantial profits. While the high availability of leverage within this arena can improve your chances of making money, ultimately the success of your endeavors depends upon how well you understand and operate within this market. Nobody knows this better than author Ed Ponsi. As a professional trader and leading educator of traders, Ponsi has developed a proven approach to trading todays forex market, and now, with Forex Patterns and Probabilities, he wants to share it with you. While most books on trading deal with general concepts and shy away from specifics, Forex Patterns and Probabilities provides you with real-world strategies and a rare sense of clarity about the specific mechanics of currency trading that will allow you to take advantage of both trending and range-bound markets. Written in a straightforward and accessible style, Forex Patterns and Probabilities will help you make the most of your time in this market. Youll be introduced to a variety of elements that are essential to forex trading success and discover the best ways to enter, exit, and manage trades. Dozens of chart examples and explanations will guide you each step of the way and allow you to "look over the shoulder" of a professional trader hard at work at his craft. Divided into four comprehensive parts, this detailed guide: Explains the playing field of the forex market, using powerful metaphors that relate trading scenarios to situations in everyday life Outlines several specific trading strategies—including the FX-Ed Trend Technique—designed for trending markets Delves into a variety of non-trending trading techniques—from the volatility-based Squeeze Play to the hedge fund–inspired Interest Rate Edge—which are all based on unique market tendencies Offers an insiders view on how to emulate the behavioral patterns of successful professional traders—and how to escape the mindset of the amateur And much more Todays forex market contains some of the most profitable trading opportunities in the world. With the practical strategies and trading methodologies found in Forex Patterns and Probabilities you can uncover these opportunities and achieve long-term financial success along the way. Author Biography ED PONSI is the President of FXEducator.com and is the former chief trading instructor for Forex Capital Markets. He is an experienced professional trader and money manager who has advised hedge funds, institutional traders, and individuals of all levels of skill and experience. Ponsi is featured on the FXEducator.com DVD series, Forex Trading with Ed Ponsi. He is a dynamic public speaker who has appeared on numerous television and radio programs, and is a frequent guest lecturer at trading conventions and seminars around the world. For more information, please visit and . Table of Contents Preface xv Acknowledgments xvii About the Author xix Part I The Worlds Most Dynamic Trading Market 1 Chapter 1 Getting Started in Forex 3 From Stocks to Forex 4 Getting to Wall Street 4 Welcome to the Jungle 5 Football and Forex 5 Stock Market Headaches 6 Welcome to Forex 9 A New Beginning 10 Chapter 2 All About Forex 11 The Canadian Dollar and the U.S. Dollar 11 The Euro and the U.S. Dollar 12 Trading Terminology 13 An Easy Way to Understand the Exchange Rate 23 Chapter 3 Questions and Answers 25 Why Does the Big Money Trade Forex? 25 Why Is Forex Suddenly So Popular? 26 How Do Traders Make Money in the Forex Market? 26 Why Do Currencies Trade in Pairs? 27 How Can I Trade Two Currencies at One Time? 28 How Is 24-Hour-per-Day Trading Possible? 28 How Is the Trading Day Structured? 29 Greenwich Mean Time 30 Chapter 4 Technical Analysis and the Forex Market 33 The Theory behind Technical Analysis 33 Statistical Survey 34 Fear of the Unknown 34 Trading Patterns and Technical Indicators 35 The Psychology behind the Market 36 Moving Beyond Technical Analysis 38 Trends 39 Proper Order 39 Fibonacci Techniques 41 Chapter 5 Things You Need to Know Before Trading Forex 43 The "Triple Threat" Trader 43 Gaining Experience 44 Which Pair to Trade? 45 Commodity Currencies 46 Dont Limit Yourself 47 Trading and Karma 49 Schadenfreude 50 Part II Trading Strategies for Trending Markets 51 Chapter 6 Understanding Trends and Tendencies 53 Trading Conditions 53 The Importance of Maintaining Objectivity 55 Begin with a Tendency 57 Putting the Trend to Work 59 Self-Fulfilling Prophecy 59 Take Me to the River 60 How to Determine If the Market is Trending 61 Chapter 7 The Anatomy of a Trend 63 Why Trends Form 63 Dont Fight the Trend 66 Chapter 8 Forex Multiple Time Frame Strategy 69 Why Does It Work? 70 Combining Fibonacci and Trend 71 Overbought Does Not Equal "Sell" 73 Picking Tops and Bottoms 75 The Entry Signal 76 Placing the Stop 76 Getting Out 77 Welcome to the Real World 79 Tweaking the Exits 79 Executing the Plan 81 Second-Guessing 82 Bringing It Home 83 The Devils Advocate 83 When to Stay Out 84 Reloading the Trade 85 Fantasy versus Reality 87 Phantom Signal 89 Temporary Success and Failure 89 The Stop Run 91 Chapter 9 The FX-Ed Trend Technique 99 Trends Are Self-Sustaining 99 Difference of Opinion 100 Big Money at Work 100 The Common Denominator 100 Long or Short 101 Identifying the Trend 103 Filtering the Trend 104 The Catalyst 107 Placing the Stop 107 Volatility Stop 108 Comparing Apples to Apples 109 ATR Calculation 110 The Entry 110 The Stop 112 The Trade 112 Dont Fish for Minnows 117 Back to the Trade 118 Denouement 120 The News versus the Trend 120 Appearances Can Be Deceiving 121 More Than One Chance 124 Partial Exit Exercise 125 Discretionary and Strategic Exits 126 Faulty Wiring 126 Partial Exit Technique 127 Reloading 128 Important Points to Consider 129 Final Thoughts 130 Part III Nontrending Trading Techniques 131 Chapter 10 The Ultimate Indicator 133 The Price Is the Key 133 Why Support Becomes Resistance 137 The Pleasure Principle and Trading 137 Price Action 139 Dont Stand in Front of a Freight Train 140 Chapter 11 Keys to Intraday Breakouts 145 Ascending and Descending Triangles 145 Trend Filter 147 Time-of-Day Filter 148 Summary 152 Chapter 12 Flags and Pennants 153 Pennants 154 Flags 162 Filtering Entries 164 Summary 168 Chapter 13 The Squeeze Play 169 The Cycle of Volatility 169 Perception Moves the Market 170 Volatility Breakout Strategy 176 Chapter 14 The Round Trip 181 Why Round Numbers Capture Our Attention 181 Why Round Numbers Are Effective 182 Round Numbers and Forex 182 The First Bounce Is the Best Bounce 183 Using the Moving Average 184 The Strategy in Action 186 Chapter 15 The Interest Rate Edge 193 Think Like the Big Boys 193 Interest Rate Differentials 194 Heres How It Works 194 Changing Differentials 195 Whats the Big Deal? 196 Collecting Interest 196 U.S. Dollar/Japanese Yen 197 Long-Term Play 198 Looking Ahead 199 Chapter 16 The Boomerang 201 Fading False Breakouts 201 The Strategy 202 Setting the Parameters 202 Entering the Trade 203 Simple but Effective 205 Part IV Take Control of Your Trading Destiny 207 Chapter 17 How to Achieve Spectacular Gains 209 Keep Your Eyes on the Road 210 Proper Goal Setting 210 Breaking Down Your Goals 212 Consistency Is the Key 213 What Happens When I Reach My Goal? 214 Chapter 18 The Forex Playing Field 215 Evening the Odds 215 The House Has the Edge 216 Make the Playing Field Bigger 216 But the Other Trading Instructor Said 217 Lets Do the Math 217 Changing the Equation 218 Why Doesnt Everyone Do It? 219 Huge Gains with Minimal Effort! 220 What We Can Learn from the "Smart Money" 221 Now Get Out There and Win 221 Chapter 19 Trading Lessons from Life 223 Panic at the Beach 223 The Endless Tournament 224 Summary 225 Chapter 20 What You Dont Know Can Hurt You 227 Sarcasm Alert! 228 Know When to Retreat 228 The "95 Percent Winners Strategy" 229 Beware the Back Tester 230 Hypothetically Speaking 230 Chapter 21 A Tale of Two Traders 233 Individuals versus Institutions 233 The Difference Between Amateurs and Professionals 234 Chapter 22 Some Final Thoughts 237 A Good Trade Is Not the Same Thing as a Winning Trade 237 Proper Execution Is Critical 238 Take Responsibility for Your Actions 238 Keep It Simple 239 Physical versus Mental 239 In Closing 240 Glossary 241 Index 247 Long Description Praise for FOREX PATTERNS & PROBABILITIES "Ed has the experience, he has the knowledge, and he has the ability to wrap it all up into one of the most useful and insightful books on trading that Ive read. Youre going to be a better trader with the help of this book." --Rob Booker, independent currency trader, and author of Adventures of a Currency Trader "This book is a must-read for any equities trader who is trying to learn the ins and outs of the forex markets. Ed has the rare gift among traders and educators to take complex trading theories and break them down into interesting and easy-to-digest trading concepts. I have personally had the benefit of studying live with Ed, and I found this book a great review of my live courses with him and now use it as my main forex reference book in my trading library. Ed you truly are the rock star of the FX markets. Well done!" --Michael J. Di Gioia, cofounder, the Results-Driven Financial Network " Forex Patterns and Probabilities is one of the best practical forex trading books I have read, and I have read a good many forex books! Ed thoroughly teaches those areas that cause most difficulty for new traders, from economic fundamentals to technical trading to the psychological aspects that are so important but ignored by so many new to trading. Peppered throughout with anecdotes from the trading and non-trading world, Eds easygoing, homespun style gets his message across very effectively. This work is destined to become essential reading for both new and established traders." --George Hallmey, Director, "Ed Ponsi is a complete teacher! Forex Patterns and Probabilities covers it all for forex and trading in general. This book will teach you the foundations, the tactics, the pitfalls, and the real world of forex. As Director of Education for the Online Trading Academy, I understand the importance of education and trading knowledge. . . Forex Patterns and Probabilities, while focused on forex, allows the reader to see the nuances of trading in general--fundamental, technical, psychological, plan management, and a strong, healthy dose of risk management and discipline." --Mike McMahon, Director of Education, Online Trading Academy Details ISBN0470097299 Author Ed Ponsi Short Title FOREX PATTERNS & PROBABILITIES Series Wiley Trading Language English ISBN-10 0470097299 ISBN-13 9780470097298 Media Book Format Hardcover Series Number 00 Year 2007 Birth 1961 Edition 1st Subtitle Trading Strategies for Trending and Range-Bound Markets DOI 10.1604/9780470097298 UK Release Date 2007-08-07 NZ Release Date 2007-08-07 US Release Date 2007-08-07 Pages 272 Publisher John Wiley & Sons Inc Publication Date 2007-08-07 Imprint John Wiley & Sons Inc Place of Publication New York Country of Publication United States DEWEY 332.64 Illustrations Screen captures: 171 B&W, 0 Color; Tables: 1 B&W, 0 Color Audience Professional & Vocational AU Release Date 2017-10-26 We've got this At The Nile, if you're looking for it, we've got it. 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