Attacking Currency Trends: How to Anticipate and Trade Big Moves in the Forex Market

Book description

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.

Table of contents

  1. Cover
  2. Series
  3. Title Page
  4. Copyright
  5. Dedication
  6. Acknowledgments
  7. Introduction
    1. MY JOURNEY
    2. THE MARKET PROFILE APPROACH
    3. IT'S A PROCESS
    4. THE JOURNEY AHEAD
  8. Part I: The Foundation for Success
    1. Chapter 1: Stereotyping the Retail Currency Trader
      1. THEY THINK TRADING CURRENCIES IS EASY
      2. THEY HAVE TOO MUCH FEAR
      3. THEY LOSE MONEY
      4. THEY ARE TOO FUNDAMENTAL (NOT TECHNICAL ENOUGH)
      5. THEY DON'T KNOW ENOUGH ABOUT KEY FUNDAMENTAL REQUIREMENTS
      6. THEY FAIL TO ANTICIPATE TRENDS
      7. DON'T BE LIKE THE REST … CHANGE!
    2. Chapter 2: The Six Attributes of a Successful Currency Trader
      1. WHAT ARE YOU GOOD AT DOING?
      2. THERE WILL ALWAYS BE PEAKS AND VALLEYS
      3. 1. SKILL OR APTITUDE
      4. 2. PRACTICE, PRACTICE, PRACTICE
      5. 3. KNOW YOUR RISK
      6. 4. CREATE AND EXECUTE A PLAN
      7. 5. CONTROL YOUR FEAR
      8. 6. BE GREEDY ENOUGH
      9. A FOUNDATION FOR SUCCESS
    3. Chapter 3: The Mission Statement
      1. A TEAM OF ONE
      2. A TWO-PART MISSION STATEMENT
      3. FINDING TRADES THAT SATISFY YOUR MISSION STATEMENT
      4. THE IMPORTANCE OF STAYING ON TREND
    4. Chapter 4: What's Your Game Plan?
      1. EVERY MISSION STATEMENT NEEDS A GAME PLAN
      2. TRADE THE TRENDS
      3. KEEP FEAR TO A MINIMUM
      4. NEVER UNDERESTIMATE A STRONG FOUNDATION
    5. Chapter 5: Rules for Attacking the Trend
      1. RULE 1: KEEP IT SIMPLE (BUT STAY POSITIVE)
      2. RULE 2: HAVE A REASON TO PLACE A TRADE
      3. RULE 3: BE PICKY ABOUT YOUR TOOLS
      4. RULE 4: THE “IF . . . SHOULD” RULE
      5. RULE 5: LOOK AHEAD, BUT NOT TOO FAR AHEAD
      6. RULES RULE
    6. Chapter 6: The Trader's Toolbox
      1. RULES FOR THE TOOLS
      2. HOW TO USE FUNDAMENTAL ANALYSIS
      3. THE ONE THING WE CAN AGREE ON: PRICE
      4. THE TOOLS
      5. IF I HAD A HAMMER
  9. Part II: Tools and Strategies
    1. Chapter 7: Moving Averages
      1. WHAT IS A MOVING AVERAGE?
      2. HOW TO USE MOVING AVERAGES
      3. TIME FRAMES FOR ANALYSIS
      4. ANTICIPATING A TREND
      5. MANAGING A TREND
      6. MANAGING PROFITS
      7. TRADE SETUPS
      8. THE PUSH THAT GETS THE MARKET GOING
    2. Chapter 8: Trend Lines and Remembered Lines
      1. BULLISH TREND LINES
      2. BEARISH TREND LINES
      3. CHANNELS: HIGHWAYS TO RIDE THE TREND
      4. FLAGS AND PENNANTS
      5. FINDING THE GOLDEN TICKET
      6. REMEMBERED LINES
      7. SIMPLE BUT EFFECTIVE
    3. Chapter 9: Fibonacci Retracements: The Hybrid Tool
      1. INTRODUCTION TO FIBONACCI
      2. PLACING RETRACEMENTS ON A CHART
      3. USING FIBONACCI RETRACEMENTS
      4. TRADING SHORTER-TERM CORRECTIONS
      5. USING THE TOOLS TO YOUR BEST ADVANTAGE
    4. Chapter 10: Preparing for the Trade
      1. FIRST THINGS FIRST
      2. ANALYZING THE CHARTS
      3. A COMPOSITE VIEW OF THE CLUES
      4. “IS IT A BOY OR A GIRL, DOC?”
    5. Chapter 11: Executing the Game Plan
      1. THE KICKOFF: THE ENTRY TRADE
      2. MANAGING THE TRADE
      3. FINDING CLUES IN THE CONSOLIDATION PHASE
      4. A BORDERLINE: ALWAYS A LOW-RISK, UNAMBIGUOUS LEVEL
      5. ANOTHER TREND REENTRY
      6. THE KEY ROLE OF BORDERLINES IN HOURLY AND DAILY CHARTS
      7. ATTACK THE CURRENCY TREND
  10. About the Author
  11. Index

Product information

  • Title: Attacking Currency Trends: How to Anticipate and Trade Big Moves in the Forex Market
  • Author(s): Greg Michalowski
  • Release date: March 2011
  • Publisher(s): Wiley
  • ISBN: 9780470874387