Download e-book for kindle: Beat the Odds in Forex Trading: How to Identify and Profit by Igor R. Toshchakov

By Igor R. Toshchakov

ISBN-10: 0471933317

ISBN-13: 9780471933311

''Beat the chances in foreign money Trading presents investors with large price via disseminating the buying and selling tools and philosophy of 1 of the main amazing currency good fortune tales seeing that Soros.'' --Alexander De Khtyar, President, currency overseas Investments, Inc.

Add sure bet and systematization into foreign currency trading with this functional process. writer and specialist Igor Toshchakov indicates how habitual industry patterns--which may be well-known on an easy bar chart--can be effectively used to exchange the foreign money industry. Written for investors at each point, this necessary source discusses the demanding situations of constructing a buying and selling approach, whereas revealing the Toshchakov's method of the market--both from a philosophical and tactical perspective. you will find particular buying and selling ideas in response to recognizable marketplace styles, get precise details on access and go out issues, revenue ambitions, cease losses, threat assessment, and masses extra.

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Extra resources for Beat the Odds in Forex Trading: How to Identify and Profit from High Percentage Market Patterns

Sample text

It is clear that such a system can be profitable only if the average profit per one trade surpasses the average loss. Then, traders can be successful, not because of the dependable and effective system generating true trading signals, but mainly because of their money management skills and technique. THEORIES OF TECHNICAL ANALYSIS Technical analysis theories named after their authors (for example Fibonacci and Dow retracement theories, the Elliott Wave Theory, and the Gunn analytical method) are not useful for the trader.

Reputable dealers now offer their customers the opportunity to trade contracts as small as $10,000. This is good for beginners, who today can make real trades without risking too much money while learning the business. However, along with positive changes there also were two negative ones: First, the same competition among dealers that improved quality of their services overall led to the situation that now almost every dealer Choosing the Right Dealer 23 could be considered a bucket shop. Today the dealers routinely trade against their customers, especially those individuals with smaller trading capital.

The system structure must be simple and consist of logical and understandable ready-to-use elements and units. It has to generate specific price signals for the trader to open or close positions at the levels chosen some time in advance. It must leave some room for a trader’s creativity and allow the trader to choose certain tactical options in specific cases, so he would not consider himself to be a dependent tool in his own trading system. It has to have some degree of flexibility to let a trader modernize and adjust the system in accordance with periodically changing market conditions, without violating the main principles and elements of the system’s structure.

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Beat the Odds in Forex Trading: How to Identify and Profit from High Percentage Market Patterns by Igor R. Toshchakov

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