Forex Conquered: High Probability Systems and Strategies for Active Traders » (With CD-Rom)

John L. Person, CTA, is President of Nationalfutures.com, a professional advisory service, and President of J&B Capital Management. In 1998, he developed his own proprietary trading system and began publishing the Bottom-Line Financial and Futures Newsletter, a weekly commodity publication that incorporates fundamental developments as well as technical analysis that includes the data from his trading system, using pivot points combined with candlesticks. Person has appeared regularly on CNBC and is widely quoted by Reuters and MarketWatch from Dow Jones. He has also written many articles for major investment magazines, and is the author of A Complete Guide to Technical Trading Tactics and Candlestick and Pivot Point Trading Triggers (both published by Wiley).

If you intend on successfully trading in today's foreign exchange market, you need to be familiar with the strategies and systems that can help you capture consistent profits and effectively manage risk. Nobody knows this better than author John Person. With almost thirty years of experience in the trading business—as a broker, trader, and teacher of traders—Person understands what it takes to make it in this fast-paced environment, and with Forex Conquered, he wants to show you how.

Whether you're a position trader, swing trader, or day trader, Forex Conquered can show you how to successfully navigate this dynamic market by using proven technical analysis techniques. Filled with in-depth insight, expert advice, and detailed examples, this book presents you with a comprehensive set of trading tools and reliable trading tactics that can be applied to everyday forex trading. And through discussions of different issues associated with trading the currency market, it also provides you with the knowledge needed to properly enter a position; identify a trade setup, trigger, or entry execution order; effectively place stops; and exit a trade without hesitation.

Written with the serious trader in mind, Forex Conquered:

• Examines what it takes to develop a trading system, how to evaluate it from a hypothetical standpoint, and apply it in real-world forex trading situations
• Covers the fundamentals of candlestick charting and explains how to utilize them
• Highlights the benefits that leading price indicators like Fibonacci price corrections, extensions, and projections analysis have to offer
• Introduces Elliott wave theory and illustrates how to apply this method in the forex market
• Outlines three effective trading systems based on pivot points—the stochastics system, the MACD histogram system, and the pivot point moving average system—that can be immediately implemented in your forex trading endeavors
• Explores essential trade and risk management issues

In addition to the valuable information found throughout these pages, this book's companion CD contains a Fibonacci calculator as well as a pivot point calculator, which can assist you in developing a trading plan without having to purchase extra software. Best of all, these calculators may give you an edge in determining longer-term price objectives, such as quarterly or annual price outlooks, which most software cannot do. The CD also includes six separate tutorials totaling more than 40 minutes of one-on-one instruction.

You can achieve success in today's foreign exchange market, and Forex Conquered can show you how. This practical guide will help you make the most informed trading decisions possible and show you how to profit from one of the largest financial markets in the world.

Preface     ix
Acknowledgments     xi
Disclaimer     xii
The Business of Trading Money     1
Pivot Point Analysis, Filtering Methods, and Moving Averages     65
Candlestick Charting     107
Traditional Chart Patterns     133
Indicators and Oscillators: Stochastics and MACD     151
Fibonacci Combined with Pivot Points     169
Elliott Wave Theory     181
Trading Systems: Combining Pivots with Indicators     199
Selecting Your Trading Window Frames     225
Risk and Trade Management: Stop Selection, Scaling Out, and Setting Profit Targets     233
Game Psychology: Techniques to Master Your Emotions     249
Postscript     257
Glossary     258
About the CD-ROM     275
Index     279