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This book provides traders with step–by–step methodologies that are based on real market tendencies. The strategies in this book are presented clearly and in detail, so that anyone who wishes to can learn how to trade like a professional. It is written in a style that is easy to understand, so that the reader can quickly learn and use the techniques provided.
In recent years, traders have turned to the foreign exchange market expecting to capture substantial profits. While the high availability of leverage within this arena can improve your chances of making money, ultimately the success of your endeavors depends upon how well you understand and operate within this market. Nobody knows this better than author Ed Ponsi. As a professional trader and leading educator of traders, Ponsi has developed a proven approach to trading today′s forex market, and now, with Forex Patterns and Probabilities, he wants to share it with you.
While most books on trading deal with general concepts and shy away from specifics, Forex Patterns and Probabilities provides you with real–world strategies and a rare sense of clarity about the specific mechanics of currency trading that will allow you to take advantage of both trending and range–bound markets.
Written in a straightforward and accessible style, Forex Patterns and Probabilities will help you make the most of your time in this market. You′ll be introduced to a variety of elements that are essential to forex trading success and discover the best ways to enter, exit, and manage trades. Dozens of chart examples and explanations will guide you each step of the way and allow you to "look over the shoulder" of a professional trader hard at work at his craft.
Divided into four comprehensive parts, this detailed guide:
Explains the playing field of the forex market, using powerful metaphors that relate trading scenarios to situations in everyday life
Outlines several specific trading strategiesincluding the FX–Ed Trend Techniquedesigned for trending markets
Delves into a variety of non–trending trading techniquesfrom the volatility–based Squeeze Play to the hedge fundinspired Interest Rate Edgewhich are all based on unique market tendencies
Offers an insider′s view on how to emulate the behavioral patterns of successful professional tradersand how to escape the mindset of the amateur
And much more
Today′s forex market contains some of the most profitable trading opportunities in the world. With the practical strategies and trading methodologies found in Forex Patterns and Probabilities you can uncover these opportunities and achieve long–term financial success along the way.
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Most Helpful Customer Reviews
16 of 17 people found the following review helpful:
5.0 out of 5 stars
Brilliant book for forex.,
By Dr. Pedro L. Moran-Raschio "pedroluis" (Newport Pagnell, Milton Keynes, UK) - See all my reviews (REAL NAME)
This review is from: Forex Patterns and Probabilities: Trading Strategies for Trending and Range-bound Markets (Wiley Trading) (Hardcover)
A first class book for forex, explain the importance of limits and stop losses how to calculate them and strategies with forex. One of my 4 pearls in my bookshelf for forex (see my other reviews), with this book as a base and the other 3 I managed to start succesfully as a forex trader. I reccomend this book to anybody before willing to risk in forex.
3 of 3 people found the following review helpful:
4.0 out of 5 stars
Very useful,
By Joachim O. (London, England) - See all my reviews
This review is from: Forex Patterns and Probabilities: Trading Strategies for Trending and Range-Bound Markets (Wiley Trading) (Kindle Edition)
Certainly one of the most useful books for that subject. You have to read it with the right mindset though. The author stresses to accept losses but at the same time, all the examples he present result in impressive gains which should underline how great his strategies are. He always places stops but of course they are never hit. The last chapters regarding the right attitude and understanding of the fx playing field are great and right, but he forgets to mention, that in order to "expand your playing field" as he calls it, you would need deep pockets.
Bottom line: I can easily recommend this book to everyone who wants to grasp an understanding of trading techniques.
2 of 2 people found the following review helpful:
5.0 out of 5 stars
Worth reading,
By
This review is from: Forex Patterns and Probabilities: Trading Strategies for Trending and Range-bound Markets (Wiley Trading) (Hardcover)
Mr Ponsi tells of his own experiance which makes a unifying story that is easy to read and follow. He explains key terms and points that he thinks the reader needs to know in order to become a successful Forex trader and stay the course. He also gives some simple but effective strategies. The reasoning behind the strategies often comes down to understanding the human element. He explains what other paticipants in the market are trying to achieve and how this creates trading opportunities. Reading this book is like asking an experienced, no-nonsense trader for guidance and being told some worthwhile background and being given some usable strategies.
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