Greg Michalowski

Attacking Currency Trends

How to Anticipate and Trade Big Moves in the Forex Market

• Gebundenes Buch

Produktbeschreibung

The guide for reading long-term trends in the foreign currency market To thrive in the marketplace traders must anticipate, enter, and stay with trends in the foreign exchange market. In this much-needed guide top forex, expert Greg Michalowski clearly explains the attributes of successful traders, and shows how traders can set themselves up for success by drafting an explicit mission statement and game plan. The book also contains the tools and techniques traders need to read the markets and identify when a market is in a trend. Michalowski shows traders how to enter an emerging trend, how to manage the position, and how to exit the position most effectively. * Includes the technical tools needed to invest in the foreign exchange market: moving averages, trendlines, and Fibonacci levels * Shows how to identify a trend and stick with the trend through its duration * Written by Greg Michalowski who was cited by SmartMoney magazine as a "go to" source for making money moves With this book, Michalowski offers an important resource for identifying and riding out long-term trends in the volatile foreign currency.

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Making money while limiting risk is something every good trader strives to do. But in order to achieve this goal you need a firm understanding of financial markets, as well as the tools that will allow you to effectively apply sound trading strategies in them.
Nobody understands this better than author Greg Michalowski-a market veteran who has spent the last ten years with retail forex brokerage company FXDD-and now, with Attacking Currency Trends, he shares his experience in this field with you. Following a step-by-step approach and progressing in a logical manner, this practical guide will help swing trading results in your favor by showing you how to better anticipate and attack the trend in currencies.
Divided into two comprehensive parts, this reliable resource opens with a detailed discussion of how to build a solid foundation for your currency trading. Here, you'll become familiar with the attributes of all successful traders and discover the essential characteristics of retail currency traders. Along the way, you'll also be introduced to specific elements that will allow you to excel in attacking forex trends-namely a mission statement, a game plan, and rules.
After explaining how to develop a solid foundation, the book transitions into the technical tools and strategies used to anticipate and manage forex trends, define risk, and control fear. You'll gain valuable insights into three main charting tools-moving averages, trend lines and remembered lines, and Fibonacci retracements-and learn why successful currency traders look at short-, intermediate-, and long-term time periods equally and trade using all three. Relevant examples are also included, highlighting how trading does not always have to be complicated.
Success in currency trading, as in any business, is based on building the right foundation and using the proper tools. Combining his years of trading experience with his knowledge of retail traders and the nuances of the currency market, Greg Michalowski has created an accessible trading guide that will help you minimize risk, keep fear in check, and capture consistent profits in today's dynamic currency market. Praise for ATTACKING CURRENCY TRENDS
"Greg has put together a comprehensive road map for traders, constructing a sound,logical trading methodology from start to finish. This book succeeds in getting the reader to think and act like a professional currency trader. Trading is a serious business and requires serious planning-and that's exactly what you'll get with Attacking Currency Trends."-Ed Ponsi, Author of Forex Patterns and Probabilities
"Although Greg admits having a true risk phobia, it's evident he possesses the skills not only to capitalize in the currency market, but to transmit his original and yet simple trading approach. A myriad of illustrated examples and clues throughout the text support his educational forte. A market profile explanation right at the start of a forex book is indeed an excellent conceptual backbone readers will appreciate."-Francesc Riverola, CEO and Founder, FXstreet.com
"Attacking Currency Trends provides a simple and logical approach to trading forex that will help any trader make better decisions about when and how to trade. Greg's rules for trading forex trends will be especially helpful to traders looking for a disciplined approachto this massive market. Armed with this information, rookie and veteran traders alike will have the confidence needed to profit from opportunities found on -and off-their charts."-Tim Bourquin, TraderInterviews.com
"Greg Michalowski's Attacking Currency Trends not only provides in-depth coverage of how to anticipate and attack trends in the battle to successfully trade currencies, Greg also empowers traders to be proactive and protect themselves by having a trading game plan with guidelines. This is a must-read for retail traders new to FX and those looking to develop further as successful market players."-Julie Sinha, broadcaster, ForexTV
"I love the down-to-earth simplicity of this book. Attacking Currency Trends puts the truth of effective trading into a format that is executable and understandable. This book will instantly become a must-have reference work for the retail trader."-Scott Cisco, co-founder and President, EuodooTrading.com
"Greg has pulled from his vast experience in currency markets and crafted a book that will lead the retail trader from understanding to successful action. He provides a rich set of tools here and clearly organizes and communicates them. Very nicely done."-Dr. Phil Pearlman, Executive Editor, StockTwits The guide for reading long-term trends in the foreign currency market
To thrive in the marketplace traders must anticipate, enter, and stay with trends in the foreign exchange market.
In this much-needed guide top forex, expert Greg Michalowski clearly explains the attributes of successful traders, and shows how traders can set themselves up for success by drafting an explicit mission statement and game plan. The book also contains the tools and techniques traders need to read the markets and identify when a market is in a trend. Michalowski shows traders how to enter an emerging trend, how to manage the position, and how to exit the position most effectively.
Includes the technical tools needed to invest in the foreign exchange market: moving averages, trendlines, and Fibonacci levels
Shows how to identify a trend and stick with the trend through its duration
Written by Greg Michalowski who was cited by SmartMoney magazine as a "go to" source for making money moves
With this book, Michalowski offers an important resource for identifying and riding out long-term trends in the volatile foreign currency.

Produktdetails

• Wiley Trading Series
• Verlag: Wiley & Sons
• Artikelnr. des Verlages: 14587438000
• 1. Auflage
• Seitenzahl: 304
• Erscheinungstermin: 29. März 2011
• Englisch
• Abmessung: 235mm x 157mm x 21mm
• Gewicht: 495g
• ISBN-13: 9780470874387
• ISBN-10: 0470874384
• Artikelnr.: 32309380

Autorenporträt

Greg Michalowski is the chief currency and trading analyst for FXDD. Prior to joining FXDD, he was an assistant vice president and trader in the treasury / funding area with Citibank in New York, a vice president and interest rate derivatives trader at Citibank in London, and a vice president and trader in the banks funding department at Credit Suisse First Boston. Michalowski maintains a daily market commentary and currency analysis website at fxdd.com.His market comments are quoted in the financial pressby Bloomberg.com, Reuters, and the Wall Street Journal,and he has written for various print and online trading publications, including eForex, Equities magazine,forexstreet.com, stocktwits.com, and forexfactory.com.His twitter site, twitter.com/gregmikefx, was one of thirteen cited by SmartMoney magazine as a "go to" source for making money moves.

Inhaltsangabe

Acknowledgments. Introduction. Part I: The Foundation for Success. Chapter
1: Stereotyping the Retail Forex Trader. They Think Trading Forex Is Easy.
They Have Too Much Fear. They Lose Money. They Are Too Fundamental (Not
Technical Enough). They Don't Know Enough about Key Fundamental
Requirements. They Fail to Anticipate Trends. Don't Be Like the
Rest...Change! Chapter 2: The Six Attributes of a Successful Trader. What
Are You Good at Doing? There Will Always be Peaks and Valleys. Skill or
Aptitude. Practice, Practice, Practice. Know Your Risk. Create and Execute
a Plan. Control Your Fear. Be Greedy Enough. A Foundation for Success.
Chapter 3: The Mission Statement. A Team of One. A Two-Part Mission
Statement. Finding Trades that Satisfy Your Mission Statement. The
Importance of Staying on Trend. Chapter 4: What's Your Game Plan? Every
Mission Statement Needs a Game Plan. Trade the Trends. Keep Fear to a
Minimum. Never Underestimate a Strong Foundation. Chapter 5: Rules for
Attacking the Trend. Rule #1: Keep It Simple (but Stay Positive). Rule #2:
Have a Reason to Place a Trade. Rule #3: Be Picky About Your Tools. Rule
#4: The "If...Should" Rule. Rule #5: Look Ahead, but Not Too Far Ahead.
Rules Rule. Chapter 6: The Trader's Toolbox. Rules for the Tools. How to
Use Fundamental Analysis. The One Thing We Can Agree On: Price. The Tools.
If I Had a Hammer. Part II: Tools and Strategies. Chapter 7: Moving
Averages. What is a Moving Average? How to Use Moving Averages. Time Frames
for Analysis. Anticipating a Trend. Managing a Trend. Managing Profits.
Trade Set-ups. The Push that Gets the Market Going. Chapter 8: Trendlines
and Remembered Lines. Bullish Trendlines. Bearish Trendlines. Channels:
Highways to Ride the Trend. Flags and Pennants. Finding the Golden Ticket.
Remembered Lines. Simple but Effective. Chapter 9: Fibonacci Retracements:
The Hybrid Tool. Introduction to Fibonacci. Placing Retracements on a
Chart. Using Fibonacci Retracements. Trading Shorter Term Corrections.
Using the Tools to Your Best Advantage. Chapter 10: Preparing for the
Trade. First Things First. Analyzing the Charts. A Composite View of the
Clues. "Is it a Boy or a Girl, Doc?". Chapter 11: Executing the Plan. The
Kickoff: The Entry Trade. Managing the Trade. Finding Clues in the
Consolidation Phase. A Borderline: Always a Low Risk, Unambiguous Level.
Another Trend Re-entry. The Key Role of Borderlines in Hourly and Daily
Charts. Attack the Currency Trend. About the Author. Index.