Marilyn McDonald : Forex Simplified

xi Preface xiii Introduction 1 Chapter One: Why Choose Forex? 7 Chapter Two: What You Need to Know About Forex Trading 7 Swap – What Is It and Why Does it Matter? 8 Be Aware of Fraudulent Schemes 13 Chapter Three: The Majors 13 The U.S. Dollar 15 The Euro 16 The Japanese Yen 17 The Swiss Franc 19 Chapter Four: Fundamen- tal vs Technical Analysis 20 Fundamental Analysis 24 Technical Analysis: A Beginners Guide Table of Contents 33 Chapter Five: Making or Breaking News 36 So, You Want to Trade the News 37 What Exactly Happens To The Market? 38 The Players 40 So, You Still Want To Trade The News? 42 Now, More News! 43 The Final Headline 45 Chapter Six: Automated Trading 46 What is Automated Trading? 46 Why Use Automated Trading? 48 How To Write an Expert Advisor 49 How To Test the Expert Advisor 51 Chapter Seven: Mentally Preparing to Trade 53 Be Sure to Check Your Emo- tions at the Door 54 What About Using a Managed Account? 56 Final Warning, Forex is Not for Everyone 59 Chapter Eight: Make Your Plan 60 Elements to Consider 60 Essentials of a Trading Plan 62 How Much Should You Trade? 64 What Are The Most Active Times To Trade? 64 What Pairs Should You Trade? 66 How Do I Choose Take-Profit and Stop-Losses? 68 How Far Back Do You Look? 69 What Time Frames Should You be Looking At? 69 What Should My Daily Goal Be In Profit or Losses? 70 Being Out of the Market Can Be a Good Move 71 How Long Should You Use a Demo Account Before You Go Live? 72 How is a Demo Different Than a Live Account? 72 Check the Crosses and Relative Pairs 76 Getting Stopped Out on a Chart 77 Trading Like a Girl 79 Conclusion 81 Appendix A: Common Indicators Defined 81 Bollinger Bands 82 Standard Deviation 83 Moving Average Convergence/ Divergence (MACD) 83 Parabolic SAR 84 Double Exponential Moving Average (DEMA) 85 Triple Exponential Moving Average (TEMA) 85 Momentum 86 Commodity Channel Index 87 Relative Strength Index (RSI) 88 Stochastic Oscillator 89 Fibonacci Line Studies 91 Appendix B: Finding Pat- terns in Your Charts 95 Appendix C: More About News: The Business Cycle 97 Candlestick Patterns 109 Appendix D: More News to Trade 109 The Business Cycle 108 Gross Domestic Product GDP 109 Indices of Leading, Lagging and Coincident Indicators 111 The Employment Situation 112 Industrial Production and Capacity Utilization 114 Institute for Supply Manage- ment Indices 115 Manufacturers’ Shipments, Inventories, and Orders 116 Manufacturing and Trade Inventories and Sales 117 New Residential Construction 117 The Conference Board’s Consumer Confidence and University of Michigan Consumer Sentiment Indices 118 Advance Monthly Sales for Retail Trade and Food Services 119 Personal Income and Outlays 120 Consumer and Producer Price Indices 123 Glossary 131 About the Author

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