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17 Proven Currency Trading Strategies

17 Proven Currency Trading Strategies

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How to Profit in the Forex Market

MARIO SINGH


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Book Details
 Price
 3.00
 Pages
 444 p
 File Size 
 9,668 KB
 File Type
 PDF format
 ISBN
 978–1–118–38551–7 (Cloth)
 978–1–118–38553–1 (ePDF)
 978–1–118–38554–8 (Mobi)
 978–1–118–38552–4 (ePub)
 Copyright©   
 2013 by John Wiley & Sons
 Singapore Pte. Ltd.

About the Author
MARIO SINGH is a widely sought after forex trader and educator who has been
featured many times on CNBC. Using the trading methodologies he now teaches, Mario
went from cleaner to successful trader within just three years. Today, Mario has trained
over 20,000 people, including institutional traders from ICBC (China’s largest
commercial bank), on how to profit consistently from forex trading. Besides having
written numerous articles for FX Street, Smart Investor, and Your Trading Edge, Mario
writes the weekly forex column at one of Singapore’s national newspapers, My Paper.
His weekly articles are posted on his blog, www.mariosingh.com.
He can be contacted at info@mariosingh.com

Preface
You can’t afford to ignore forex anymore.
This is an urgent message I carry everywhere I go. It really doesn’t matter who we are
or what stage in life we’re at. You could be in school and you can’t seem to figure out
the rules of global finance. You could be holding down a job but you desire to make a
decent second income in your spare time.

You could already be involved in the financial markets as a retail trader or investor,
but with low yields and depressed growth all around the world, you are searching for an
asset class that offers unparalleled returns. You might even be a fund manager who
holds an international portfolio in different asset classes, such as equities, bonds, and commodities.

However, with central banks lowering rates and injecting record amounts of liquidity
into the financial system, you realize the importance of protecting your entire portfolio
against currency risks.

Finally, you might be someone running a multinational company. You could be based
in one country, but your offices span across many countries all around the world.
Expenses for salaries, infrastructure, machinery, and supplies are paid out in different
currencies every single month. As the business gets larger, you can’t turn a blind eye to
the currency fluctuations, which have a significant impact to the company’s bottom line
every month.

If you find yourself in any one of these categories, this book is for you. The sooner we
all understand the forex “game,” the better it is going to be for us. Forex is a game for
three reasons. First, playing it must be fun. Second, we play it with an intention to win.
Finally, it has rules. If you break the rules, the rules will break you.

Table of Contents
Preface
Acknowledgments
Part One: Forex Is a Game
Chapter 1: How to Play the Game
The Forex Game
Forex and the Seven Majors
Leverage
Summary
Chapter 2: How Money Is Made in the Game
Buy Low, Sell High
Three Points in Every Trade
Bid/Ask Spread
What Causes the Price of Currencies to Fluctuate?
Fraction Theory
Reading the Charts
Market Structure
Summary
Chapter 3: The Six Major Players
Central Banks
Commercial and Investment Banks
Multinational Corporations
Institutional Traders
Retail Forex Brokers
Retail Traders
Summary
Chapter 4: Why You Must Play the Game
Top 17 Reasons to Trade Forex
Summary
Chapter 5: Play It Your Way: Understanding Your Profile
The Experiment
Five Categories of Forex Traders
Your Perfect Strategy
Summary
Part Two: Strategies to Win the Game
FXPRIMUS 100% Bonus Trading Credit
Chapter 6: Strategies for Scalpers
Strategy 1: Rapid-Fire Strategy
Strategy 2: Piranha Strategy
Chapter 7: Strategies for Day Traders
Strategy 3: Fade the Break
Strategy 4: Trade the Break
Trading the News
Strategy 5: Gawk the Talk
Strategy 6: Balk the Talk
Chapter 8: Strategies for Swing Traders
Strategy 7: Trend Rider
Strategy 8: Trend Bouncer
Strategy 9: Fifth Element
Strategy 10: Power Ranger
Strategy 11: The Pendulum
Chapter 9: Strategies for Position Traders
Strategy 12: Swap and Fly
Strategy 13: Commodity Correlation (Part 1)
Strategy 13: Commodity Correlation (Part 2)
Strategy 14: Siamese Twins
Chapter 10: Strategies for Mechanical Traders
Strategy 15: Guppy Burst
Strategy 16: English Breakfast Tea
Strategy 17: Good Morning Asia
Chapter 11: Conclusion
Bibliography
About the Author
About the Website
FXPRIMUS 100% Bonus Trading Credit
Index


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HOW IT ALL BEGAN
I had a painful start to forex trading because I broke a cardinal rule. Allow me to share
my story with you. I’ll be the first to admit that I’m not a smart guy. I don’t have a
finance degree or an economics degree.
I studied chemical engineering in school but graduated with third-class honors,
dashing my mother’s hopes of my becoming a top chief executive for a Fortune 500
company. After graduation, I proceeded to apply for a job at petroleum giant Shell, but I
haven’t heard from them yet.
Sometimes I console myself by thinking that my resume lost its way in the mail. I
didn’t have much materially then, but what I had was the burning desire to achieve
success in life. It was this desire to succeed that led me to my first experience with forex trading.

Six years ago, I was with a friend in a local coffee shop when he suddenly flipped
open his laptop to reveal a screen full of charts. Through the charts and jumping
numbers on the screen, I asked him, “What’s this?”
He coolly replied, “Forex trading.”
Thinking it was some hobby he recently picked up, I asked again, “Real cash?”
“Yes.” He nodded smugly. “Real cash.”
That began to draw me in, slowly but surely. Looking back, it wasn’t the fact that
forex was the biggest financial market in the world that drew me in. What drew me in
was the fact that all you needed was an Internet connection and a laptop to make money
from this market anywhere in the world.
Fascinated, I started to ask my trader friend some questions. When he shared with me
the story of how George Soros broke the Bank of England on September 16, 1992, and
made $1 billion in a day, I was hooked.
I’m the kind of guy who only needs one live example of someone who has done
something to convince me that I can do it too. Excited about this new discovery called
forex trading, I went off and started to do my own reading on free websites.
Soon I started my first account with USD3,000.

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