17 Proven Currency Trading Strategies, + Website

Countless money-making opportunities abound in the Foreign Exchange (Forex) market every day, but how does an amateur investor take advantage of these opportunities to earn high returns? This book by CNBC-featured Forex Expert Mario Singh provides a comprehensive solution to this question.

Following the first section that explains in plain English—what is Forex trading, how money is made in the Forex "game," the six major players involved, and the importance of knowing one's Trader Profile—the second section focuses on specific and practical guidance which includes:

• A "Trader Profile Test" to help the reader get a clear picture of his natural trading style and which of five trading profiles he belongs to (Scalper, Day Trader, Swing Trader, Position Trader or Mechanical Trader)
• 17 proven trading strategies (between 2 to 5 strategies for each trader profile) for the reader to immediately start cashing in on the Forex market
• Descriptions of an array of real-world trading scenarios, with tips on how to address them
• A section that shows the reader how to custom-tailor a trading system designed for his sensibilities and risk tolerance
• Forex hedging strategies for finance professionals at multinational corporations

Short on theory and long on practical insights and step-by-step guidance, 17 Proven Currency Trading Strategies—How To Profit in the Forex Market will help anyone—from beginners to professionals, and everyone in between—to master the Forex market and be consistently profitable.

Preface xi

Acknowledgments xix

Part One Forex Is a Game 1

Chapter 1 How to Play the Game 3

The Forex Game 3

Forex and the Seven Majors 5

Leverage 11

Summary 14

Chapter 2 How Money Is Made in the Game 15

Buy Low, Sell High 15

Three Points in Every Trade 17

Bid/Ask Spread 23

What Causes the Price of Currencies to Fluctuate? 25

Fraction Theory 30

Reading the Charts 31

Market Structure 37

Summary 48

Chapter 3 The Six Major Players 51

Central Banks 51

Commercial and Investment Banks 58

Multinational Corporations 62

Institutional Traders 68

Retail Forex Brokers 69

Retail Traders 70

Summary 70

Chapter 4 Why You Must Play the Game 73

Top 17 Reasons to Trade Forex 73

Summary 84

Chapter 5 Play It Your Way: Understanding Your Profile 87

The Experiment 88

Five Categories of Forex Traders 92

Your Perfect Strategy 98

Summary 107

Part Two Strategies to Win the Game 109
Includes details on the FXPRIMUS 100% bonus trading credit

Chapter 6 Strategies for Scalpers 111

Strategy 1: Rapid-Fire Strategy 111

Strategy 2: Piranha Strategy 118

Chapter 7 Strategies for Day Traders 125

Strategy 3: Fade the Break 126

Strategy 4: Trade the Break 131

Trading the News 138

Strategy 5: Gawk the Talk 143

Strategy 6: Balk the Talk 148

Chapter 8 Strategies for Swing Traders 155

Strategy 7: Trend Rider 155

Strategy 8: Trend Bouncer 163

Strategy 9: Fifth Element 169

Strategy 10: Power Ranger 177

Strategy 11: The Pendulum 185

Chapter 9 Strategies for Position Traders 191

Strategy 12: Swap and Fly 192

Strategy 13: Commodity Correlation (Part 1) 199

Strategy 13: Commodity Correlation (Part 2) 204

Strategy 14: Siamese Twins 210

Chapter 10 Strategies for Mechanical Traders 217

Strategy 15: Guppy Burst 217

Strategy 16: English Breakfast Tea 223

Strategy 17: Good Morning Asia 228

Chapter 11 Conclusion 235

Bibliography 239

About the Author 241

About the Website 243
Plus FXPRIMUS 100% bonus trading credit

Index 245

Mario Singh is founder and CEO of FX1 Academy, the first and largest Forex education company in Singapore and Malaysia. He has personally touched the lives of over 20,000 people, helping them move closer to their financial goals through Forex trading. Mario Singh is also the director of training and education of FXPRIMUS, Asia's fastest growing Forex broker. He is featured regularly in Smart Investor and Your Trading Edge, and has appeared on CNBC, Channel NewsAsia, "Personal Money," News Radio, City News, The Straits Times, FXstreet, and Your Choice. He also writes a weekly Forex column for a Singaporean national newspaper, My Paper.

With an average of $4.3 trillion exchanged per day, the Foreign Exchange (Forex) market is the largest and the most actively traded market in the world. Countless money-making opportunities abound in the Forex market every day for savvy traders equipped with the right knowledge and tools. But how does an amateur investor take advantage of these opportunities to earn high returns? This book provides a comprehensive solution to this question by arming you with the same knowledge and tools that these savvy Forex traders have.

Written by Mario Singh, head of the prestigious FX1 Academy, the largest Forex education firm in the Far East, 17 Proven Currency Trading Strategies is a plain-English guide designed for anyone—from beginners to professionals, and everyone in between—looking to quickly master the knowledge and skills needed to win big in the booming Forex market.

Following the first section that explains in plain English—what is Forex trading, how money is made in the Forex "game", the six major players involved, and the importance of knowing one's Trader Profile—the second section focuses on specific and practical guidance, which includes:

• A "Trader Profile Test" to help the reader get a clear picture of his natural trading style and which of five trading profiles he belongs to (Scalper, Day Trader, Swing Trader, Position Trader, or Mechanical Trader)
• 17 proven trading strategies (between 2 to 5 strategies for each trader profile) for the reader to immediately start cashing in on the Forex market
• Descriptions of an array of real-world trading scenarios, with tips on how to address them
• A section that shows the reader how to custom-tailor a trading system designed for his sensibilities and risk tolerance
• Forex hedging strategies for finance professionals at multinational corporations
• And much more

Short on theory and long on practical insights and step-by-step guidance, 17 Proven Currency Trading Strategies is an indispensable working resource for investors and traders of every classification—from retail investors and fund managers, to portfolio managers and institutional investors—looking to expand their trading horizons and win big in the Forex game.

And, whether you're a recent college grad or a baby boomer preparing to retire; a middle manager or business owner; or looking for a reliable second income stream, this book can help you to achieve the financial independence you want and deserve by trading the Forex market, no matter what your life stage, income bracket, or professional standing.

"This is an excellent primer for traders at the start of their Forex trading career. I especially like the fact that it is separated into two parts, with Part 1 covering a complete introduction to Forex and Part 2 covering the exact strategies. At the end, Mario provides two invaluable pieces of advice for continued success. Firstly, he provides the five rules a trader must adhere to. Secondly, he sets out the three character attributes a trader must have. I believe this book deserves a place in your bookshelf."
—Ray Barros, trader, private hedge fund manager, and author of The Nature of Trends

"Since I have been investing in international equities for many years, this book was of particular interest. Foreign exchange impacts us all and particularly those of us investing globally. This book gives a fascinating insight into exactly how the Foreign Exchange market, the world's largest, actually works. I was particularly interested in the description of the six major players in the market: central banks, commercial and investment banks, multinational corporations, institutional traders, retail Forex brokers, and retail traders. One particularly fascinating feature in the book is a psychological questionnaire that determines 'What kind of trader are you?' and also deals with trading strategies for various types of traders."
—Mark Mobius, President, Templeton Emerging Markets

"Success! Mario has created a series of powerful, easy-to-use trading strategies that anyone can use regardless of their level of experience. I've had the pleasure of knowing Mario and working with him for years, and there is no better person from which to learn about currency trading. 17 Proven Currency Trading Strategies gives the reader everything they need to succeed.
—Ed Ponsi, President of FXEducator.com and EdPonsi.com

"Mario Singh is the King of Forex in Asia! He is one of the few people who truly understands the importance of combining fundamentals with technicals and does it extremely well. He is a great friend, and his passion for trading and teaching others comes through clearly. This book is jam-packed with useful trading strategies for all types of traders. You can literally pick up this book and start trading. Well respected throughout Asia, this book will quickly become a staple on the bookshelves of all Forex traders in the region."
—Kathy Lien, CNBC Contributor; Managing Director of FX Strategy, BK Asset Management