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    Trading Currencies
    Trading Currencies
    Trading Currencies
    Ebook70 pages1 hour

    Trading Currencies

    By Andrew Fincher

    ()

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    About this ebook

    A lot of people are searching for opportunities to make money on their own without being dependent on a boss or being limited by their monthly salary. Trading is one of the ways. Trading currencies might be the best way!

    Unfortunately for most, they come to the market led only by positive emotions and some mediocre strategies without any real discipline and stamina to succeed.
    People need to learn to understand market and various conditions it may be in and how one can trade those. They should also learn when not to trade at all. Pro traders adhere to this rule very strictly.

    In this Ebook you will learn how to identify specific market conditions and trade according to them. You will find out when you need to use specific technical indicators and when to avoid them. In the last chapter you will study how to trade support and resistance in combination with candle patterns.

    LanguageEnglish
    PublisherAndrew Fincher
    Release dateOct 11, 2015
    ISBN9781310970191
    Trading Currencies

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      Book preview

      Trading Currencies - Andrew Fincher

      Trading Currencies: Taking a Step Further in Your Trading Career

      Table of Contents

      Introduction

      Understanding Market Conditions

      Various Market Cycles and How to Use Them to Make Money

      Follow the Leader: Choosing the Best Currency Pairs and Leaving Laggards Behind

      Trading with Indicators: What to Use and When

      Price Action Trading, Candle Patterns and Support/Resistance

      Conclusion

      Check out My Other Books

      Introduction

      A lot of people are searching for opportunities to make money on their own without being dependent on a boss or being limited by their monthly salary. Trading is one of the ways. Trading currencies might be the best way!

      Unfortunately for most, they come to the market led only by positive emotions and some mediocre strategies without any real discipline and stamina to succeed.

      People need to learn to understand market and various conditions it may be in and how one can trade those. They should also learn when not to trade at all. Pro traders adhere to this rule very strictly.

      In this Ebook you will learn how to identify specific market conditions and trade according to them. You will find out when you need to use specific technical indicators and when to avoid them. In the last chapter you will study how to trade support and resistance in combination with candle patterns.

      Wish you good time and efficient learning!

      Chapter 1

      Understanding Market Conditions

      One of the essential things that any trader who wants to become a pro has to know is that market conditions change. You may see some pair rising for a week, then jumping up and down at the same level for another week, then fall for a few days, after that rise for three days and then get choppy again. These things show the dynamics of currency market and any other financial market. If you try to trade currencies based only trend trading conditions where currencies keep on rising or falling you will probably have nice profits when markets are trending, but lose most of it when they stop and start ranging or jumping up and down (getting choppy).

      Flexibility is the character feature that will help you to spot market changes, adapt and make cash under any market conditions. Some traders wait only for trend and they miss a lot of opportunities that are there in a range. Some market experts will tell you that you should not trade currencies that are choppy. It is also not the true. I mean if you understand what happens and you know where to enter and exit your trades when currencies are choppy you can trade and make a lot of money. Why should you skip opportunities if you know how to use them? You don’t have to.

      In this chapter I want to go through different market conditions and see what you can expect to happen with currencies when they undergo them and also how one can take advantage of that and make profit trading in any market state. However, before you can learn how to use a specific strategy you need to learn to identify what you see in front of your eyes and only then how to use that to make money.

      Let us look through each market state and see how you can use that state to make profits. The first market state is a trending market.

      Trending market

      Trending market is a state of a currency pair when it has a clear direction: up or down. An uptrend is identified by higher highs and higher lows and a downtrend is identified by lower highs

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