17 Proven Currency Trading Strategies, + Website: How to by Mario Singh

By Mario Singh

A accomplished consultant to foreign currency trading for person investors

Countless money-making possibilities abound within the foreign currency (Forex) industry on a daily basis, yet how does an novice investor make the most of those possibilities to earn excessive returns? This ebook via CNBC-featured currency professional Mario Singh offers a accomplished way to this question.

Following the 1st part that explains in undeniable English—what is foreign currency trading, how cash is made within the currency "game," the six significant gamers concerned, and the significance of understanding one's dealer Profile—the moment part specializes in particular and sensible suggestions which includes:

  • A "Trader Profile try" to assist the reader get a transparent photograph of his usual buying and selling variety and which of 5 buying and selling profiles he belongs to (Scalper, Day dealer, Swing dealer, place dealer or Mechanical Trader)
  • 17 confirmed buying and selling recommendations (between 2 to five concepts for every dealer profile) for the reader to right away begin profiting from the currency market
  • Descriptions of an array of real-world buying and selling situations, with how to tackle them
  • A part that exhibits the reader how one can custom-tailor a buying and selling approach designed for his sensibilities and possibility tolerance
  • Forex hedging thoughts for finance execs at multinational corporations

Short on thought and lengthy on useful insights and step by step tips, 17 confirmed foreign exchange Strategies—How to learn within the foreign money Market may help anyone—from novices to execs, and everybody in between—to grasp the foreign money industry and be continuously profitable.

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Extra info for 17 Proven Currency Trading Strategies, + Website: How to Profit in the Forex Market

Example text

Shadows can be long or short. 21 shows a bullish candlestick on the 30-minute (M30) time frame for the EUR/USD currency pair. 3340. 3365. 3322. 22 shows a bearish candlestick on the 4-hour (H4) time frame for the USD/JPY currency pair. 78. 02. 87. In summary, reading candlesticks can give us an idea of which group— buyers or sellers—was in control at any point of time. indd 36 06/12/12 2:23 PM How Money Is Made in the Game 37 MARKET STRUCTURE Now that we understand how to read the candlesticks, let’s turn to market structure.

The bid price is the price at which the trader selects to sell. It is also the price at which the broker is willing to buy. The ask price is the price at which the trader selects to buy. It is also the price at which the broker is willing to sell. The difference between the bid price and the ask price is known as the spread. The spread is the transaction fee that the broker charges for executing a trade. 3091. 3091. We can also infer that the spread is 2 pips. This means that the broker FXPRIMUS charges a transaction fee of 2 pips for every trade that is executed on its platform.

These are: 1. Standard lot 2. Mini lot 3. Micro lot 4. Nano lot A standard lot is defined as 100,000 units of the base currency. S. dollars. A mini lot is defined as 10,000 units of the base currency. S. dollars. A micro lot is defined as 1,000 units of the base currency. S. dollars with Swiss francs. A nano lot is defined as 100 units of the base currency. S. dollars with Canadian dollars. 1. 0001 × 100,000 = USD 10 Mini Lot If you trade mini lots instead, the value of 1 pip will decrease by a factor of 10.

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