{"product_id":"beat-the-forex-dealer-isbn-9780470722084","title":"Beat the Forex Dealer","description":"The foreign-exchange market is often referred to as the Slaughterhouse where novice traders go to 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 the explosion of the retail FX market, which has unfortunately spawned a new breed of authors and gurus more than happy to provide misleading and often downright fraudulent information by promising traders riches while making forex trading 'easy'.\u003cbr\u003e \u003cbr\u003e 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 or ask George Soros why his short yen bets cost him $600m not once but twice in 1994. What's wrong with these guys, don't they read FX books?\u003cbr\u003e \u003cbr\u003e In reality, the average client's trading approach combined with the unscrupulous practices of some brokers make spot FX trading more akin to the games found on the Vegas strip than to anything seen on Wall St. The FX market is littered with the remains of day traders and genius 'systems,' and to survive in the long-run traders have to realize that they are playing a game where the cards are clearly stacked against them.\u003cbr\u003e \u003cbr\u003e Have you ever had your stop hit at a price that turned 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.\u003cbr\u003e \u003cbr\u003e Covering the day-to-day mechanics of the FX market and the unsavoury dealings going on, Beat the Forex Dealer offers traders the market-proven trading techniques needed to side-step dealer traps and develop winning trading methods. Learn from an industry insider the truth behind dirty dealer practices including: stop-hunting, price shading, trading against clients and 'no dealing desk' realities.\u003cbr\u003e \u003cbr\u003e Detailing the dealer-inspired trading techniques developed by MIGFX Inc, consistently ranked among the world's leading currency trading firms, the book helps turn average traders into winning traders; and in a market with a 90% loss rate winning traders are in fact quite rare! 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.\u003cbr\u003e \u003cbr\u003e 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\u0026amp;l, but it is surely not the only one. Successful trading comes down to taking care of the details, which means skipping the theoretical stuff and providing only up-to-date, real-life examples while sharing the FX trading tips that have proved so profitable over the years. 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! \u003cp\u003eAcknowledgments ix\u003c\/p\u003e \u003cp\u003eIntroduction XI\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart I Through the Eyes of a Trader 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e1 On Markets 3\u003c\/p\u003e \u003cp\u003e2 The Currency Market 9\u003c\/p\u003e \u003cp\u003e3 A Rare Breed 13\u003c\/p\u003e \u003cp\u003e4 FX Dealers 19\u003c\/p\u003e \u003cp\u003e5 Today’s FX Market 23\u003c\/p\u003e \u003cp\u003e6 The Players 27\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart II The retail side of things 33\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e7 Card Stacking 35\u003c\/p\u003e \u003cp\u003e8 Don’t Trust Your FCM 43\u003c\/p\u003e \u003cp\u003e9 Third-Party Services 47\u003c\/p\u003e \u003cp\u003e10 Fighting Back 51\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart III Joining the 10 % 55\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e11 Becoming a Great Trader 57\u003c\/p\u003e \u003cp\u003e12 Picking the Right Approach 63\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart IV FX Trading Tips 73\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e13 Adapting to the FX Market 75\u003c\/p\u003e \u003cp\u003e14 Trading Thin Markets 83\u003c\/p\u003e \u003cp\u003e15 Using the Crosses 87\u003c\/p\u003e \u003cp\u003e16 All About Stops 93\u003c\/p\u003e \u003cp\u003e17 Characteristics of FX Trends 97\u003c\/p\u003e \u003cp\u003e18 Trading the FED 103\u003c\/p\u003e \u003cp\u003e19 Fading News 109\u003c\/p\u003e \u003cp\u003e20 FX Analysts: Who Cares? 113\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart V Dealer Trades 117\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e21 Trading Against Dealers 119\u003c\/p\u003e \u003cp\u003e22 The Big Figure Trade 123\u003c\/p\u003e \u003cp\u003e23 The Friday to Sunday Extension 131\u003c\/p\u003e \u003cp\u003e24 Sticking it to Your Dealer 137\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart VI The Future 143\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e25 The End of the Beginning 145\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eAppendix Trading “How To’s” 149\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHow to Set Up Your Trading 151\u003c\/p\u003e \u003cp\u003eHow to Trade Price Action 157\u003c\/p\u003e \u003cp\u003eHow to Build a Position 163\u003c\/p\u003e \u003cp\u003eHow to Trade Out of a Losing Position 169\u003c\/p\u003e \u003cp\u003e\u003cb\u003eNotes 177\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSpeaking Like a Dealer 179\u003c\/p\u003e \u003cp\u003eFX Glossary 181\u003c\/p\u003e \u003cp\u003eTrading Maxims 189\u003c\/p\u003e \u003cp\u003eBibliography 191\u003c\/p\u003e \u003cp\u003eCFTC Minimum Finance Requirement 193\u003c\/p\u003e \u003cp\u003eIndex 209\u003c\/p\u003e  \u003cp\u003e\"...could help novices avoid much of the pain...a brutal honest appraisal of how currency markets work.\" (\u003cem\u003eInvestors Chronicle,\u003c\/em\u003e April 24th 2009)   \u003c\/p\u003e\u003cp\u003eOne of the pioneers in foreign-exchange trading, \u003cb\u003eAgustin Silvani\u003c\/b\u003e developed one of the first retail-oriented currency programs and currently leads the team of professionals at MIGFX Inc, consistently rated among the top-ten currency traders as ranked by \u003ci\u003eBarron’s, Futures\u003c\/i\u003e, and \u003ci\u003eCurrency Trader Magazine\u003c\/i\u003e. Mr Silvani’s experience in FX ranges from the interbank to the retail sector, helping manage portfolios ranging from $1 million to more than $10 billion in size, and is a regular contributor to the financial press.   \u003c\/p\u003e\u003cp\u003eThe foreign-exchange market is often referred to as the \u003ci\u003eSlaughterhouse\u003c\/i\u003e where novice traders go to 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 the explosion of the retail FX market, which has unfortunately spawned a new breed of authors and gurus more than happy to provide misleading and often downright fraudulent information by promising traders riches while making forex trading ‘easy’. \u003c\/p\u003e\u003cp\u003eWell 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 or ask George Soros why his short yen bets cost him $600m not once but twice in 1994. What’s wrong with these guys, don’t they read FX books? \u003c\/p\u003e\u003cp\u003eIn reality, the average client’s trading approach combined with the unscrupulous practices of some brokers make spot FX trading more akin to the games found on the Vegas strip than to anything seen on Wall Street. The FX market is littered with the remains of day traders and genius ‘systems,’ and to survive in the long-run traders have to realize that they are playing a game where the cards are clearly stacked against them. \u003c\/p\u003e\u003cp\u003eHave you ever had your stop hit at a price that turned 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. \u003c\/p\u003e\u003cp\u003eCovering the day-to-day mechanics of the FX market and the unsavoury dealings going on, \u003ci\u003eBeat the Forex Dealer\u003c\/i\u003e offers traders the market-proven trading techniques needed to side-step dealer traps and develop winning trading methods. Learn from an industry insider the truth behind dirty dealer practices including: stop-hunting, price shading, trading against clients and ‘no dealing desk’ realities.  \u003c\/p\u003e\u003cp\u003eDetailing the dealer-inspired trading techniques developed by MIGFX Inc, consistently ranked among the world’s leading currency trading firms, the book helps turn average traders into winning traders; and in a market with a 90% loss rate winning traders are in fact quite rare! More than just a simple manual, \u003ci\u003eBeat the Forex  Dealer\u003c\/i\u003e 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. 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!  \u003c\/p\u003e\u003cp\u003eTo receive the latest news and updates please see the authors website \u003cb\u003ewww.beattheforexdealer.com\u003c\/b\u003e\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47988795769061,"sku":"NP9780470722084","price":65.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470722084.jpg?v=1761781619","url":"https:\/\/k12savings.com\/products\/beat-the-forex-dealer-isbn-9780470722084","provider":"K12savings","version":"1.0","type":"link"}