Attacking Currency Trends
How to Anticipate and Trade Big Moves in the Forex Market
Published on 9. February 2011
304 pages
978-1-118-02349-5 (ISBN)
Description
The guide for reading long-term trends in the foreign currencymarket
To thrive in the marketplace traders must anticipate, enter, andstay with trends in the foreign exchange market.
In this much-needed guide top forex, expert Greg Michalowskiclearly explains the attributes of successful traders, and showshow traders can set themselves up for success by drafting anexplicit mission statement and game plan. The book also containsthe tools and techniques traders need to read the markets andidentify when a market is in a trend. Michalowski shows traders howto enter an emerging trend, how to manage the position, and how toexit the position most effectively.
* Includes the technical tools needed to invest in the foreignexchange market: moving averages, trendlines, and Fibonaccilevels
* Shows how to identify a trend and stick with the trend throughits duration
* Written by Greg Michalowski who was cited by SmartMoneymagazine as a "go to" source for making money moves
With this book, Michalowski offers an important resource foridentifying and riding out long-term trends in the volatile foreigncurrency.
To thrive in the marketplace traders must anticipate, enter, andstay with trends in the foreign exchange market.
In this much-needed guide top forex, expert Greg Michalowskiclearly explains the attributes of successful traders, and showshow traders can set themselves up for success by drafting anexplicit mission statement and game plan. The book also containsthe tools and techniques traders need to read the markets andidentify when a market is in a trend. Michalowski shows traders howto enter an emerging trend, how to manage the position, and how toexit the position most effectively.
* Includes the technical tools needed to invest in the foreignexchange market: moving averages, trendlines, and Fibonaccilevels
* Shows how to identify a trend and stick with the trend throughits duration
* Written by Greg Michalowski who was cited by SmartMoneymagazine as a "go to" source for making money moves
With this book, Michalowski offers an important resource foridentifying and riding out long-term trends in the volatile foreigncurrency.
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G. Michalowski
Attacking Currency Trends - How to Anticipate and Trade Big Moves in the Forex Market
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04/2011
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Person
Greg Michalowski is the chief currency and trading analyst for FXDD. Prior to joining FXDD, he was an assistant vice president and trader in the treasury / funding area with Citibank in New York, a vice president and interest rate derivatives trader at Citibank in London, and a vice president and trader in the banks funding department at Credit Suisse First Boston. Michalowski maintains a daily market commentary and currency analysis website at fxdd.com.His market comments are quoted in the financial pressby Bloomberg.com, Reuters, and the Wall Street Journal,and he has written for various print and online trading publications, including eForex, Equities magazine,forexstreet.com, stocktwits.com, and forexfactory.com.His twitter site, twitter.com/gregmikefx, was one of thirteen cited by SmartMoney magazine as a "go to" source for making money moves.
Content
Acknowledgments.
Introduction.
Part I: The Foundation for Success.
Chapter 1: Stereotyping the Retail Forex Trader.
They Think Trading Forex Is Easy.
They Have Too Much Fear.
They Lose Money.
They Are Too Fundamental (Not Technical Enough).
They Don't Know Enough about Key Fundamental Requirements.
They Fail to Anticipate Trends.
Don't Be Like the Rest...Change!
Chapter 2: The Six Attributes of a Successful Trader.
What Are You Good at Doing?
There Will Always be Peaks and Valleys.
Skill or Aptitude.
Practice, Practice, Practice.
Know Your Risk.
Create and Execute a Plan.
Control Your Fear.
Be Greedy Enough.
A Foundation for Success.
Chapter 3: The Mission Statement.
A Team of One.
A Two-Part Mission Statement.
Finding Trades that Satisfy Your Mission Statement.
The Importance of Staying on Trend.
Chapter 4: What's Your Game Plan?
Every Mission Statement Needs a Game Plan.
Trade the Trends.
Keep Fear to a Minimum.
Never Underestimate a Strong Foundation.
Chapter 5: Rules for Attacking the Trend.
Rule #1: Keep It Simple (but Stay Positive).
Rule #2: Have a Reason to Place a Trade.
Rule #3: Be Picky About Your Tools.
Rule #4: The "If...Should" Rule.
Rule #5: Look Ahead, but Not Too Far Ahead.
Rules Rule.
Chapter 6: The Trader's Toolbox.
Rules for the Tools.
How to Use Fundamental Analysis.
The One Thing We Can Agree On: Price.
The Tools.
If I Had a Hammer.
Part II: Tools and Strategies.
Chapter 7: Moving Averages.
What is a Moving Average?
How to Use Moving Averages.
Time Frames for Analysis.
Anticipating a Trend.
Managing a Trend.
Managing Profits.
Trade Set-ups.
The Push that Gets the Market Going.
Chapter 8: Trendlines and Remembered Lines.
Bullish Trendlines.
Bearish Trendlines.
Channels: Highways to Ride the Trend.
Flags and Pennants.
Finding the Golden Ticket.
Remembered Lines.
Simple but Effective.
Chapter 9: Fibonacci Retracements: The Hybrid Tool.
Introduction to Fibonacci.
Placing Retracements on a Chart.
Using Fibonacci Retracements.
Trading Shorter Term Corrections.
Using the Tools to Your Best Advantage.
Chapter 10: Preparing for the Trade.
First Things First.
Analyzing the Charts.
A Composite View of the Clues.
"Is it a Boy or a Girl, Doc?".
Chapter 11: Executing the Plan.
The Kickoff: The Entry Trade.
Managing the Trade.
Finding Clues in the Consolidation Phase.
A Borderline: Always a Low Risk, Unambiguous Level.
Another Trend Re-entry.
The Key Role of Borderlines in Hourly and Daily Charts.
Attack the Currency Trend.
About the Author.
Index.
Introduction.
Part I: The Foundation for Success.
Chapter 1: Stereotyping the Retail Forex Trader.
They Think Trading Forex Is Easy.
They Have Too Much Fear.
They Lose Money.
They Are Too Fundamental (Not Technical Enough).
They Don't Know Enough about Key Fundamental Requirements.
They Fail to Anticipate Trends.
Don't Be Like the Rest...Change!
Chapter 2: The Six Attributes of a Successful Trader.
What Are You Good at Doing?
There Will Always be Peaks and Valleys.
Skill or Aptitude.
Practice, Practice, Practice.
Know Your Risk.
Create and Execute a Plan.
Control Your Fear.
Be Greedy Enough.
A Foundation for Success.
Chapter 3: The Mission Statement.
A Team of One.
A Two-Part Mission Statement.
Finding Trades that Satisfy Your Mission Statement.
The Importance of Staying on Trend.
Chapter 4: What's Your Game Plan?
Every Mission Statement Needs a Game Plan.
Trade the Trends.
Keep Fear to a Minimum.
Never Underestimate a Strong Foundation.
Chapter 5: Rules for Attacking the Trend.
Rule #1: Keep It Simple (but Stay Positive).
Rule #2: Have a Reason to Place a Trade.
Rule #3: Be Picky About Your Tools.
Rule #4: The "If...Should" Rule.
Rule #5: Look Ahead, but Not Too Far Ahead.
Rules Rule.
Chapter 6: The Trader's Toolbox.
Rules for the Tools.
How to Use Fundamental Analysis.
The One Thing We Can Agree On: Price.
The Tools.
If I Had a Hammer.
Part II: Tools and Strategies.
Chapter 7: Moving Averages.
What is a Moving Average?
How to Use Moving Averages.
Time Frames for Analysis.
Anticipating a Trend.
Managing a Trend.
Managing Profits.
Trade Set-ups.
The Push that Gets the Market Going.
Chapter 8: Trendlines and Remembered Lines.
Bullish Trendlines.
Bearish Trendlines.
Channels: Highways to Ride the Trend.
Flags and Pennants.
Finding the Golden Ticket.
Remembered Lines.
Simple but Effective.
Chapter 9: Fibonacci Retracements: The Hybrid Tool.
Introduction to Fibonacci.
Placing Retracements on a Chart.
Using Fibonacci Retracements.
Trading Shorter Term Corrections.
Using the Tools to Your Best Advantage.
Chapter 10: Preparing for the Trade.
First Things First.
Analyzing the Charts.
A Composite View of the Clues.
"Is it a Boy or a Girl, Doc?".
Chapter 11: Executing the Plan.
The Kickoff: The Entry Trade.
Managing the Trade.
Finding Clues in the Consolidation Phase.
A Borderline: Always a Low Risk, Unambiguous Level.
Another Trend Re-entry.
The Key Role of Borderlines in Hourly and Daily Charts.
Attack the Currency Trend.
About the Author.
Index.
