Beat the Forex Dealer

The foreign-exchange market is often referred to as theSlaughterhouse where novice traders go to get 'chopped up'. It isone of egos and money, where millions of dollars are won and lostevery day and phones are routinely thrown across hectic tradingdesks. This palpable excitement has led to the explosion of theretail FX market, which has unfortunately spawned a new breed ofauthors and gurus more than happy to provide misleading and oftendownright fraudulent information by promising traders riches whilemaking forex trading 'easy'. Well I'll let you in on a little secret: there is nothing easyabout trading currencies. If you don't believe me then stop byWarren Buffet's office and ask him how he could lose $850m bettingon the dollar or ask George Soros why his short yen bets cost him$600m not once but twice in 1994. What's wrong with these guys,don't they read FX books? In reality, the average client's trading approach combined with theunscrupulous practices of some brokers make spot FX trading moreakin to the games found on the Vegas strip than to anything seen onWall St. The FX market is littered with the remains of day tradersand genius 'systems,' and to survive in the long-run traders haveto realize that they are playing a game where the cards are clearlystacked against them. Have you ever had your stop hit at a price that turned out to bethe low/high for the day? Bad luck perhaps? Maybe. What if ithappens more than once? Do you ever feel like the market is out toget you? Well guess what, in this Zero Sum game it absolutelyis. Covering the day-to-day mechanics of the FX market and theunsavoury dealings going on, Beat the Forex Dealer offers tradersthe market-proven trading techniques needed to side-step dealertraps and develop winning trading methods. Learn from an industryinsider the truth behind dirty dealer practices including:stop-hunting, price shading, trading against clients and 'nodealing desk' realities. Detailing the dealer-inspired trading techniques developed by MIGFXInc, consistently ranked among the world's leading currency tradingfirms, the book helps turn average traders into winning traders;and in a market with a 90% loss rate winning traders are in factquite rare! More than just a simple manual, Beat the Forex Dealerbrings to life the excitement of the FX market by deliveringinsights into some of the greatest trading triumphs andhighlighting legendary disasters; all written in an easy to readstyle. Make no mistake about it there is a lot of money to be made incurrency trading, you just have to know where to look. Sidesteppingsimple dealer traps is one way of improving your daily p&l, butit is surely not the only one. Successful trading comes down totaking care of the details, which means skipping the theoreticalstuff and providing only up-to-date, real-life examples whilesharing the FX trading tips that have proved so profitable over theyears. By stripping away the theory and getting down to the core oftrading, you too will find yourself on the way to beating the forexdealer!