Product Description

Many traders go around searching for that one perfect trading strategy that works all the time in the global FOREX (foreign exchange/currency) market. Frequently, they will complain that a strategy doesn't work. Few people understand that successful trading of the FOREX market entails the application of the right strategy for the right market condition. Learn how you can select high-probability trades with good entries and exits. "The 7 Winning Strategies For Trading Forex" covers: Why people should be paying attention to the FOREX market, which is the world's largest and most liquid financial market; How understanding the structure of this market can be beneficial to the independent trader; How to overcome the odds of success; and seven winning strategies for trading FOREX. Grace Cheng highlights seven trading strategies, each of which is to be applied in a unique way and is designed for differing market conditions. She shows how traders can use the various market conditions to their advantage by tailoring the strategy to suit each one. This revealing book also sheds light on how the FOREX market works, how you can incorporate sentiment analysis into your trading, and how trading in the direction of institutional activity can give you a competitive edge in the trading arena. This invaluable book is ideal for new and current traders wanting to improve their trading performance. Filled to the brim with practical advice, this book is a must-read for traders who want to know exactly how they can make money in the FOREX market.

Product Details

• Amazon Sales Rank: #68350 in Books
• Published on: 2007-06-25
• Original language: English
• Number of items: 1
• Binding: Hardcover
• 260 pages

About the Author
Grace Cheng is a seasoned full-time Forex trader who is well-versed in technical, fundamental and sentiment analysis, which she utilizes in her trading. Grace is also the creator of the PowerFX Trading Course (www.gracecheng.com) which is designed for both new and intermediate traders. Grace has mentored hundreds of independent traders through her PowerFX Course. She occasionally writes for trading and investment magazines such as Technical Analysis of Stocks & Commodities, The Trader's Journal, Smart Investor, as well as for online financial portals like Investopedia. She has also been featured in newspapers, magazines, newsletters and on TV for her trading expertise. Visit her popular forex blog/website www.gracecheng.com.

Customer Reviews

Basic but usefull
About a third or more of this book explains how the forex market works and not how to trade the forex market. The author talks about pip gain and simple calcualtions. She also explains simple things like long/short orders. It goes on from interbank market to currency volatility and liquidity. Breif discussion of money managment. A lot of empty pages. The author explains how she had to cancell lunch because of a trade. The book goes on about self discipline and emotions, which is very important but only if you are a new trader. I think this book really lacks material.

I mean if you are a new trader then this book is a must. However, if you are already trading and looking to improve your skills and gain more insight into technical analysis tools; then this is not for you. Even the strategies are quite simple.

It has the following strategies:

Breakout fading - Using resistance and support levels
Breakout trading - Using bollinger and triangle formations.
News Trading Strategy - No comment
Carry trade - Trading in favour of Intrest rate return.

There is a very breif explanation of MACD, RSI and Stochastics.

This is not a book that will teach you a new and different trading style. It will rather introduce you to the concept of a trading strategy and pave the way for further reading. All you need is a very basic knowledge to understand eveything that she is talking about. You just need to know about candlesticks before reading this book.

Did not expect it to be that good....
Well, if you a new trader like me, has no or very little idea about market, technical and fundamental analysis then this book has some really good learning techniques. The good thing I like about this book is that it is to the point, and only has 7 techniques, using simple yet powerful technical analysis tools ...

I have read many other books and highly recommend buying currieries for dummies - a must book that every new trader should have.

I would say that you must read it before getting into LIVE trading.

Very general book
This is very general book with several general strategies how to trade, but definitely not enough to be a good trader. I can recommend another one "Forex Patterns and Probabilities" which is way better.