Beat The Odds In Forex Trading-How to Identify and Profit from High Percentage Market Patterns (Wiley Trading)

Beat The Odds In Forex Trading

Beat The Odds In Forex Trading
2006 - 225 Pages - PDF - 6.48 MB

Product Description
"Beat the Odds in Forex Trading provides traders with tremendous value by disseminating the trading methods and philosophy of one of the most remarkable Forex success stories since Soros."
--Alexander De Khtyar, President, Forex International Investments, Inc.

Add certainty and systematization into Forex trading with this practical approach. Author and industry professional Igor Toshchakov shows how recurring market patterns--which can be recognized on a simple bar chart--can be successfully used to trade the Forex market. Written for traders at every level, this valuable resource discusses the challenges of developing a trading method, while revealing the Toshchakov's approach to the market--both from a philosophical and tactical point of view. You'll discover specific trading strategies based on recognizable market patterns, get detailed information on entry and exit points, profit targets, stop losses, risk evaluation, and much more.

From the Inside Flap
Longtime Forex traders know they will never achieve certainty of profit. The best they can hope for is to trade uncertainty for a proven system and a reliable combination of recurring patterns.

Beat the Odds in Forex Trading shows you how to replace fickle predictive formulas with tangible market chart patterns to dramatically augment your Forex trading results. In this book, skilled currencies trader and trainer Igor Toshchakov (L. A. Igrok) details his Igrok Discrete-Systematic Method, the straightforward and accurate system that allows you to enter and exit the market according to clear-cut mechanical rules instead of vague hunches and emotional guesswork.

With the Igrok Method, you use measurable statistical signals to estimate the probability that a market will move in a given direction at a given moment. Beat the Odds in Forex Trading walks you step-by-step through this proven powerful method so you can:

• Set aside fundamental considerations that underpin Forex fluctuations to focus on strategies to profit from those fluctuations
• Eliminate the necessity of making market predictions by replacing them with a strict systematic approach in an otherwise discrete trading environment
• Identify statistically significant trends and chart those trends to estimate directional probability of the next market movement
• Detect signs of a false trend line break that, in reality, could be confirmation of an ongoing trend continuation
• Choose currency pairs based primarily on their liquidity, activity, and average amplitude of fluctuations
• Select money management principles based on situations, trade systems, and current market conditions
• Understand, and profit from, the observed behavior of banks and other financial institutions that drive Forex price movements

Filled with in-depth insight and expert advice, Beat the Odds in Forex Trading details odds-enhancing trading strategies for entering and exiting the market using the Igrok Method; reviews strategies for recognizing and counteracting central bank interventions that can either destroy or greatly enhance a currency trading account; and provides templates for short-term and intraday trading.

Overthinking can harm even the most experienced trader. Beat the Odds in Forex Trading shows you instead how to read the currency markets and react—in ways shown over time to increase your odds of success. It replaces excessive formulas and theoretical calculations with proven methods and techniques, resulting in a trading guide that will greatly strengthen your trading approach, from both a philosophical and tactical point of view.

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