Trading Forex for Beginners – The Basics
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Trading Forex: Jim’s FOREX books are consistently ranked BEST SELLERS on Amazon and there is a very good reason for this. At no extra cost (or on-costs) Jim shares with his readers:
Trading Forex custom indicators for the MT4 MetaTrader platform, as a download at the end of the book. AND anyone who has received these indicators will also receive the MT5 version of his files when they have been programmed.
An invitation to join his Facebook Group which has new as well as experienced Forex Traders contributing.
Daily interaction in his Facebook Group
He calls his trades live, shares his results AND records a weekly trade analysis video.
His contact details if you require further clarification.
While Divergence may sound a little technical and intimidating, Jim assures you that it is easy to understand when you know what you are looking for. Some even consider Divergence to be a leading indicator. Basically, it is the difference between what the actual price on the chart is doing and what an Oscillator type indicator is doing. This book will use the same principles as his MT4 High Probability Forex Trading Method, but it is a stand-alone book and concentrates more on trading with Divergence. Jim has no affiliation with any links included in the book and there are no up-sells or ongoing costs for this method, his custom indicators, template etc. Also worthy of mention is that this Method can be used with any other financial instrument that your MT4 platform offers.
Here is an outline of what is included:
1. A downloadable package which includes Jim’s personal custom indicators:
QMP Filter 1.01.ex4
P4L PeriodCon 509.ex4
MACD Platinum Book.tpl
Forex Multiple Trade Calculator.xlsx
2. 50+ images to explain Forex Trading using divergence (access to download/print)
3. A video with instructions on how to load the template and indicators to your MT4 platform.
4. The Table of Contents outline includes:
What Is Divergence?
Setting Up The Charts
The Basic Concept Of This Trading Method
Trading With Divergence
Some Observations About Divergence
Various Examples Of Divergence
Entering A Trade After Divergence Has Been Identified
Trade Examples On The GBP/JPY 4hr Chart
The Smart Way To Trade This
Stop Loss Placement
Trade Re-Entry Technique
Trend Losing Steam And Time To Take Action
Divergence Formed On The Wrong Side Of The MACD Platinum Zero Level
High Risk Money Management Technique
What people are saying:
This book is very informative and presents a nice trading strategy that is easy to understand. The author also supplies a link to the indicators he uses which can be downloaded for free. One of the best Forex books I have read! – Dave C
I would definitely recommend this book. There are many indicators and all kinds of trading strategies. However, getting to know about trading with divergence will give a big heads up whats coming next. – Erdene-amgalan
Top notch! This book, like all other previous Jim’s book I read, is simply great. Very simple to read with plenty of trade examples. With some basic trading notion this book is certainly a great help. It’s good to have it in my own library. I would certainly suggest it. – Valerio M
Trading Forex article:
Keep The Profits Rolling In The Forex Market With These Tips
Some moves you make in life are inevitably going to be better than others. That’s why they say you win some and you lose some. The goal is to win far more than you lose, and reading this article and soaking up the forex tips below will ensure that you win more trades than you lose when playing the market.
The best forex traders maintain a constant calm when they trade. Seeing profits tempts a trader in to undue enthusiasm, but the experienced trader resists these urges. Being swayed by emotional energy leads a trader into making ill-considered trades that neglect his or her risk. A good deal can turn sour all too quickly when an over-enthusiastic trader leaps into it without looking first.
If you end up with a big loss, get out for a while. Take a break. Many FOREX traders lose sight of their trading plans when hit with a big loss. They end up trying to “�get revenge’ on the market by working exclusively with the same currency – that was used at the time of the loss – to try to recover.
When you first start trading forex consider opening a “cent” account or something similar so you can trade in very small amounts. This allows you to practice trading on the real market without risking much per trade. You can try different strategies and learn how trading works in the real market.
Study the Forex markets before buying positions. Many people see trading Forex as a get rich quick scheme, but like any activity you’ve got to study a little before getting heavily involved. You’ll find the markets much kinder to your account when you learn a bit first about the markets themselves.
If you are a beginner, look for a broker that offers a practice account. These accounts allow you to invest small sums of money and provide tutorials. You should progress quickly with a good beginner’s account, and not lose too much money. A practice account also allows you to test a broker.
In order to learn good trading Forex strategies in the foreign exchange market it is very important to master a currency pair. Read on news about those countries and take note on how their currency acts. Jumping between different currencies could be a recipe for disaster and this could be avoided by this strategy.
If you are having a hard time with forex charts because they can be so complex, you should at first rely on analysis from brokers that you trust. Compare their analysis with the chart and try to understand their perception and judgment. You should be able to read charts by yourself once you understand how brokers do it.
Choose the right time frame that works for you when trading. Some people like to take their time when they are choosing their move while others are fast past and don’t like to wait around to make their move. By choosing to take it slow you have enough time to analyze and make the right decision.
Trading Forex has advantages over stocks. To be successful on the stock market you need to choose from 8,000 companies while in forex trading there are four major currency pairs to consider. Forex has a 24 hour market, brokers are open for 24 hours and you have the ability to trade for 24 hours so you can even set your own timeframe to work.
As you read, the more you can improve your winning percentage, the better you’re going to do in the market. The idea behind reading these tips should be to get you ready to make the right moves in the market. Applying what you learned throughout this article will put you in a great position.
- File Size: 7198 KB
- Print Length: 84 pages
- Publication Date: December 20, 2016
- Sold by: Amazon Digital Services LLC
- Language: English
- ASIN: B01NALFY75
- Text-to-Speech: Enabled
- X-Ray: Enabled
- Word Wise: Enabled
- Lending: Enabled
- Screen Reader: Supported
- Enhanced Typesetting: Enabled