PLEASE NOTE: This book was originally titled "Forex Bounce Trading".
Statistics show that 95% of traders fail in their first year and it's interesting to note most of them are using a trend following forex strategy.
The problem is the market only trends 15% of the time which means 85% of the time traders are using a strategy where the odds are stacked against them.
This is where High Performance Forex Trading comes in. It looks for places to make trades during the non trending periods in the market. These periods are also known as trading range markets or choppy markets.
This style of technical analysis increases the odds for finding more potentially profitable trades since it focuses on the way the market moves most of the time.
This book provides an introductory look into what this style of trading is and provides step by step instructions on how to use it.
In this book you'll learn:
1. How to setup clutter free trading charts to quickly locate bounce trades.
2. How to easily identify key support and resistance levels that cause "bounce trades".
3. Which candlesticks to use to help filter out market noise and give you an exact entry point.
4. Where to place your stops to keep risk low and manageable.
5. Where to exit the trade without any second guessing.
6. How to find bounce trades in trending markets.
7. How to identify when markets are going from trending to non-trending and then back again.
While experienced traders will already know these concepts the author has a special knack for keeping things simple and focused. This means that novice traders will easily get up to speed.
Despite the simplicity of this strategy, Nikos Mermiagas has been using it to professionally manage money for 8 years.