Dimensions
163 x 234 x 23mm
All of the information needed to side-step dealer traps and learn the trading techniques of one of the world's leading currency trading firms. More than just a simple manual, Beat the forex Dealer brings to life the excitement of the FX market by delivering insights into some of the greatest trading triumphs and highlighting legendary disasters; all written in an easy to read style.
The FX market is referred to as the Slaughterhouse where traders routinely get 'chopped up', it is one of egos and money where millions of dollars are won and lost every day and phones are routinely thrown across hectic trading desks. This palpable excitement has led to often misleading and downright fraudulent information where traders are promised riches by authors promising to make forex 'easy'.
Well I'll let you in on a little secret: there is nothing easy about trading currencies: if you don't believe me then stop by Warren Buffet's office and ask him how he could lose $850m betting on the dollar and ask George Soros why his short yet bets lost him $600m not once but twice in 1994.
Have you ever had your stop/hit at a price which turns out to be the low/high for the day? Bad luck perhaps? Maybe. What if it happens more than once? Do you ever feel like the market is out to get you? Well guess what, in this Zero Sum game it absolutely is.
Make no mistake about it there is a lot of money to be made in currency trading, you just have to know where to look. Sidestepping simple dealer traps is one way of improving your daily p&l, but it is surely not the only one. Successful trading comes down to taking care of the details, and for me the only way to do this is to provide, up-to-date, real-life examples, and sharing the FX trading tips that have proved so profitable over the years. In the end it's my hope that by stripping away the theory and getting down to the core of trading, you too will find yourself on the way to beating the forex dealer!
The purpose of this book is twofold. First, by explaining the day-to-day mechanics of the FX market and pointing out some of the more unsavory dealings going on in the retail side, I hope to make evident for the reader the risks and rewards involved in currency trading. The second is to turn average traders into winning traders. 'Average' traders are losing traders, winning traders are in fact quite rare. But by highlighting some market proven trading tricks, I hope to give traders an initial 'leg-up'.
