{"product_id":"forex-patterns-and-probabilities-isbn-9780470097298","title":"Forex Patterns and Probabilities","description":"While most books on trading deal with general concepts and shy away from specifics, \u003ci\u003eForex Patterns and Probabilities\u003c\/i\u003e provides you with real-world strategies and a rare sense of clarity about the specific mechanics of currency trading. Leading trading educator Ed Ponsi will explain the driving forces in the currency markets and will provide strategies to enter, exit, and manage successful trades. Dozens of chart examples and explanations will guide you each step of the way and allow the reader to \"look over the shoulder\" of a professional trader hard at work at his craft.  \u003cp\u003eThis book provides traders with step-by-step methodologies that are based on real market tendencies. The strategies in this book are presented clearly and in detail, so that anyone who wishes to can learn how to trade like a professional. It is written in a style that is easy to understand, so that the reader can quickly learn and use the techniques provided.\u003c\/p\u003e \u003cp\u003ePreface xv\u003c\/p\u003e \u003cp\u003eAcknowledgments xvii\u003c\/p\u003e \u003cp\u003eAbout the Author xix\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart I The World’s Most Dynamic Trading Market 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Getting Started in Forex 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFrom Stocks to Forex 4\u003c\/p\u003e \u003cp\u003eGetting to Wall Street 4\u003c\/p\u003e \u003cp\u003eWelcome to the Jungle 5\u003c\/p\u003e \u003cp\u003eFootball and Forex 5\u003c\/p\u003e \u003cp\u003eStock Market Headaches 6\u003c\/p\u003e \u003cp\u003eWelcome to Forex 9\u003c\/p\u003e \u003cp\u003eA New Beginning 10\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 All About Forex 11\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Canadian Dollar and the U.S. Dollar 11\u003c\/p\u003e \u003cp\u003eThe Euro and the U.S. Dollar 12\u003c\/p\u003e \u003cp\u003eTrading Terminology 13\u003c\/p\u003e \u003cp\u003eAn Easy Way to Understand the Exchange Rate 23\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Questions and Answers 25\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhy Does the Big Money Trade Forex? 25\u003c\/p\u003e \u003cp\u003eWhy Is Forex Suddenly So Popular? 26\u003c\/p\u003e \u003cp\u003eHow Do Traders Make Money in the Forex Market? 26\u003c\/p\u003e \u003cp\u003eWhy Do Currencies Trade in Pairs? 27\u003c\/p\u003e \u003cp\u003eHow Can I Trade Two Currencies at One Time? 28\u003c\/p\u003e \u003cp\u003eHow Is 24-Hour-per-Day Trading Possible? 28\u003c\/p\u003e \u003cp\u003eHow Is the Trading Day Structured? 29\u003c\/p\u003e \u003cp\u003eGreenwich Mean Time 30\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Technical Analysis and the Forex Market 33\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Theory behind Technical Analysis 33\u003c\/p\u003e \u003cp\u003eStatistical Survey 34\u003c\/p\u003e \u003cp\u003eFear of the Unknown 34\u003c\/p\u003e \u003cp\u003eTrading Patterns and Technical Indicators 35\u003c\/p\u003e \u003cp\u003eThe Psychology behind the Market 36\u003c\/p\u003e \u003cp\u003eMoving Beyond Technical Analysis 38\u003c\/p\u003e \u003cp\u003eTrends 39\u003c\/p\u003e \u003cp\u003eProper Order 39\u003c\/p\u003e \u003cp\u003eFibonacci Techniques 41\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 Things You Need to Know Before Trading Forex 43\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe “Triple Threat” Trader 43\u003c\/p\u003e \u003cp\u003eGaining Experience 44\u003c\/p\u003e \u003cp\u003eWhich Pair to Trade? 45\u003c\/p\u003e \u003cp\u003eCommodity Currencies 46\u003c\/p\u003e \u003cp\u003eDon’t Limit Yourself 47\u003c\/p\u003e \u003cp\u003eTrading and Karma 49\u003c\/p\u003e \u003cp\u003eSchadenfreude 50\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart II Trading Strategies for Trending Markets 51\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Understanding Trends and Tendencies 53\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTrading Conditions 53\u003c\/p\u003e \u003cp\u003eThe Importance of Maintaining Objectivity 55\u003c\/p\u003e \u003cp\u003eBegin with a Tendency 57\u003c\/p\u003e \u003cp\u003ePutting the Trend to Work 59\u003c\/p\u003e \u003cp\u003eSelf-Fulfilling Prophecy 59\u003c\/p\u003e \u003cp\u003eTake Me to the River 60\u003c\/p\u003e \u003cp\u003eHow to Determine If the Market is Trending 61\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 The Anatomy of a Trend 63\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhy Trends Form 63\u003c\/p\u003e \u003cp\u003eDon’t Fight the Trend 66\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Forex Multiple Time Frame Strategy 69\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhy Does It Work? 70\u003c\/p\u003e \u003cp\u003eCombining Fibonacci and Trend 71\u003c\/p\u003e \u003cp\u003eOverbought Does Not Equal “Sell” 73\u003c\/p\u003e \u003cp\u003ePicking Tops and Bottoms 75\u003c\/p\u003e \u003cp\u003eThe Entry Signal 76\u003c\/p\u003e \u003cp\u003ePlacing the Stop 76\u003c\/p\u003e \u003cp\u003eGetting Out 77\u003c\/p\u003e \u003cp\u003eWelcome to the Real World 79\u003c\/p\u003e \u003cp\u003eTweaking the Exits 79\u003c\/p\u003e \u003cp\u003eExecuting the Plan 81\u003c\/p\u003e \u003cp\u003eSecond-Guessing 82\u003c\/p\u003e \u003cp\u003eBringing It Home 83\u003c\/p\u003e \u003cp\u003eThe Devil’s Advocate 83\u003c\/p\u003e \u003cp\u003eWhen to Stay Out 84\u003c\/p\u003e \u003cp\u003eReloading the Trade 85\u003c\/p\u003e \u003cp\u003eFantasy versus Reality 87\u003c\/p\u003e \u003cp\u003ePhantom Signal 89\u003c\/p\u003e \u003cp\u003eTemporary Success and Failure 89\u003c\/p\u003e \u003cp\u003eThe Stop Run 91\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 The FX-Ed Trend Technique 99\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTrends Are Self-Sustaining 99\u003c\/p\u003e \u003cp\u003eDifference of Opinion 100\u003c\/p\u003e \u003cp\u003eBig Money at Work 100\u003c\/p\u003e \u003cp\u003eThe Common Denominator 100\u003c\/p\u003e \u003cp\u003eLong or Short 101\u003c\/p\u003e \u003cp\u003eIdentifying the Trend 103\u003c\/p\u003e \u003cp\u003eFiltering the Trend 104\u003c\/p\u003e \u003cp\u003eThe Catalyst 107\u003c\/p\u003e \u003cp\u003ePlacing the Stop 107\u003c\/p\u003e \u003cp\u003eVolatility Stop 108\u003c\/p\u003e \u003cp\u003eComparing Apples to Apples 109\u003c\/p\u003e \u003cp\u003eATR Calculation 110\u003c\/p\u003e \u003cp\u003eThe Entry 110\u003c\/p\u003e \u003cp\u003eThe Stop 112\u003c\/p\u003e \u003cp\u003eThe Trade 112\u003c\/p\u003e \u003cp\u003eDon’t Fish for Minnows 117\u003c\/p\u003e \u003cp\u003eBack to the Trade 118\u003c\/p\u003e \u003cp\u003eDenouement 120\u003c\/p\u003e \u003cp\u003eThe News versus the Trend 120\u003c\/p\u003e \u003cp\u003eAppearances Can Be Deceiving 121\u003c\/p\u003e \u003cp\u003eMore Than One Chance 124\u003c\/p\u003e \u003cp\u003ePartial Exit Exercise 125\u003c\/p\u003e \u003cp\u003eDiscretionary and Strategic Exits 126\u003c\/p\u003e \u003cp\u003eFaulty Wiring 126\u003c\/p\u003e \u003cp\u003ePartial Exit Technique 127\u003c\/p\u003e \u003cp\u003eReloading 128\u003c\/p\u003e \u003cp\u003eImportant Points to Consider 129\u003c\/p\u003e \u003cp\u003eFinal Thoughts 130\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart III Nontrending Trading Techniques 131\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 The Ultimate Indicator 133\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Price Is the Key 133\u003c\/p\u003e \u003cp\u003eWhy Support Becomes Resistance 137\u003c\/p\u003e \u003cp\u003eThe Pleasure Principle and Trading 137\u003c\/p\u003e \u003cp\u003ePrice Action 139\u003c\/p\u003e \u003cp\u003eDon’t Stand in Front of a Freight Train 140\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11 Keys to Intraday Breakouts 145\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAscending and Descending Triangles 145\u003c\/p\u003e \u003cp\u003eTrend Filter 147\u003c\/p\u003e \u003cp\u003eTime-of-Day Filter 148\u003c\/p\u003e \u003cp\u003eSummary 152\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12 Flags and Pennants 153\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePennants 154\u003c\/p\u003e \u003cp\u003eFlags 162\u003c\/p\u003e \u003cp\u003eFiltering Entries 164\u003c\/p\u003e \u003cp\u003eSummary 168\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13 The Squeeze Play 169\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Cycle of Volatility 169\u003c\/p\u003e \u003cp\u003ePerception Moves the Market 170\u003c\/p\u003e \u003cp\u003eVolatility Breakout Strategy 176\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 14 The Round Trip 181\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhy Round Numbers Capture Our Attention 181\u003c\/p\u003e \u003cp\u003eWhy Round Numbers Are Effective 182\u003c\/p\u003e \u003cp\u003eRound Numbers and Forex 182\u003c\/p\u003e \u003cp\u003eThe First Bounce Is the Best Bounce 183\u003c\/p\u003e \u003cp\u003eUsing the Moving Average 184\u003c\/p\u003e \u003cp\u003eThe Strategy in Action 186\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 15 The Interest Rate Edge 193\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThink Like the Big Boys 193\u003c\/p\u003e \u003cp\u003eInterest Rate Differentials 194\u003c\/p\u003e \u003cp\u003eHere’s How It Works 194\u003c\/p\u003e \u003cp\u003eChanging Differentials 195\u003c\/p\u003e \u003cp\u003eWhat’s the Big Deal? 196\u003c\/p\u003e \u003cp\u003eCollecting Interest 196\u003c\/p\u003e \u003cp\u003eU.S. Dollar\/Japanese Yen 197\u003c\/p\u003e \u003cp\u003eLong-Term Play 198\u003c\/p\u003e \u003cp\u003eLooking Ahead 199\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 16 The Boomerang 201\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFading False Breakouts 201\u003c\/p\u003e \u003cp\u003eThe Strategy 202\u003c\/p\u003e \u003cp\u003eSetting the Parameters 202\u003c\/p\u003e \u003cp\u003eEntering the Trade 203\u003c\/p\u003e \u003cp\u003eSimple but Effective 205\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart IV Take Control of Your Trading Destiny 207\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 17 How to Achieve Spectacular Gains 209\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eKeep Your Eyes on the Road 210\u003c\/p\u003e \u003cp\u003eProper Goal Setting 210\u003c\/p\u003e \u003cp\u003eBreaking Down Your Goals 212\u003c\/p\u003e \u003cp\u003eConsistency Is the Key 213\u003c\/p\u003e \u003cp\u003eWhat Happens When I Reach My Goal? 214\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 18 The Forex Playing Field 215\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eEvening the Odds 215\u003c\/p\u003e \u003cp\u003eThe House Has the Edge 216\u003c\/p\u003e \u003cp\u003eMake the Playing Field Bigger 216\u003c\/p\u003e \u003cp\u003eBut the Other Trading Instructor Said 217\u003c\/p\u003e \u003cp\u003eLet’s Do the Math 217\u003c\/p\u003e \u003cp\u003eChanging the Equation 218\u003c\/p\u003e \u003cp\u003eWhy Doesn’t Everyone Do It? 219\u003c\/p\u003e \u003cp\u003eHuge Gains with Minimal Effort! 220\u003c\/p\u003e \u003cp\u003eWhat We Can Learn from the “Smart Money” 221\u003c\/p\u003e \u003cp\u003eNow Get Out There and Win 221\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 19 Trading Lessons from Life 223\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePanic at the Beach 223\u003c\/p\u003e \u003cp\u003eThe Endless Tournament 224\u003c\/p\u003e \u003cp\u003eSummary 225\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 20 What You Don’t Know Can Hurt You 227\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSarcasm Alert! 228\u003c\/p\u003e \u003cp\u003eKnow When to Retreat 228\u003c\/p\u003e \u003cp\u003eThe “95 Percent Winners Strategy” 229\u003c\/p\u003e \u003cp\u003eBeware the Back Tester 230\u003c\/p\u003e \u003cp\u003eHypothetically Speaking 230\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 21 A Tale of Two Traders 233\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIndividuals versus Institutions 233\u003c\/p\u003e \u003cp\u003eThe Difference Between Amateurs and Professionals 234\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 22 Some Final Thoughts 237\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA Good Trade Is Not the Same Thing as a Winning Trade 237\u003c\/p\u003e \u003cp\u003eProper Execution Is Critical 238\u003c\/p\u003e \u003cp\u003eTake Responsibility for Your Actions 238\u003c\/p\u003e \u003cp\u003eKeep It Simple 239\u003c\/p\u003e \u003cp\u003ePhysical versus Mental 239\u003c\/p\u003e \u003cp\u003eIn Closing 240\u003c\/p\u003e \u003cp\u003eGlossary 241\u003c\/p\u003e \u003cp\u003eIndex 247\u003c\/p\u003e   \u003cp\u003e\u003cb\u003eED PONSI\u003c\/b\u003e is the President of FXEducator.com and is the former chief trading instructor for Forex Capital Markets. He is an experienced professional trader and money manager who has advised hedge funds, institutional traders, and individuals of all levels of skill and experience. Ponsi is featured on the FXEducator.com DVD series, \u003ci\u003eForex Trading with Ed Ponsi\u003c\/i\u003e. He is a dynamic public speaker who has appeared on numerous television and radio programs, and is a frequent guest lecturer at trading conventions and seminars around the world. \u003c\/p\u003e\u003cp\u003eFor more information, please visit \u003cb\u003ewww.edponsi.com\u003c\/b\u003e and \u003cb\u003ewww.fxeducator.com\u003c\/b\u003e.        \u003c\/p\u003e\u003cp\u003eIn recent years, traders have turned to the foreign exchange market expecting to capture substantial profits. While the high availability of leverage within this arena \u003ci\u003ecan\u003c\/i\u003e improve your chances of making money, ultimately the success of your endeavors depends upon how well you understand and operate within this market. Nobody knows this better than author Ed Ponsi. As a professional trader and leading educator of traders, Ponsi has developed a proven approach to trading today's forex market, and now, with \u003ci\u003eForex Patterns and Probabilities,\u003c\/i\u003e he wants to share it with you.  \u003c\/p\u003e\u003cp\u003eWhile most books on trading deal with general concepts and shy away from specifics, \u003ci\u003eForex Patterns and Probabilities\u003c\/i\u003e provides you with real-world strategies and a rare sense of clarity about the specific mechanics of currency trading that will allow you to take advantage of both trending and range-bound markets.  \u003c\/p\u003e\u003cp\u003eWritten in a straightforward and accessible style, \u003ci\u003eForex Patterns and Probabilities\u003c\/i\u003e will help you make the most of your time in this market. You'll be introduced to a variety of elements that are essential to forex trading success and discover the best ways to enter, exit, and manage trades. Dozens of chart examples and explanations will guide you each step of the way and allow you to \"look over the shoulder\" of a professional trader hard at work at his craft.  \u003c\/p\u003e\u003cp\u003e\u003cb\u003eDivided into four comprehensive parts, this detailed guide:\u003c\/b\u003e \u003c\/p\u003e\u003cul\u003e \u003cli\u003eExplains the playing field of the forex market, using powerful metaphors that relate trading scenarios to situations in everyday life\u003c\/li\u003e \u003cli\u003eOutlines several specific trading strategies—including the FX-Ed Trend Technique—designed for trending markets\u003c\/li\u003e \u003cli\u003eDelves into a variety of non-trending trading techniques—from the volatility-based Squeeze Play to the hedge fund–inspired Interest Rate Edge—which are all based on unique market tendencies\u003c\/li\u003e \u003cli\u003eOffers an insider's view on how to emulate the behavioral patterns of successful professional traders—and how to escape the mindset of the amateur\u003c\/li\u003e \u003cli\u003eAnd much more\u003c\/li\u003e \u003c\/ul\u003e  \u003cp\u003eToday's forex market contains some of the most profitable trading opportunities in the world. With the practical strategies and trading methodologies found in \u003ci\u003eForex Patterns and Probabilities\u003c\/i\u003e you can uncover these opportunities and achieve long-term financial success along the way.      \u003c\/p\u003e\u003cp\u003e\u003ci\u003ePraise for\u003c\/i\u003e FOREX \u003cb\u003ePATTERNS \u003ci\u003e\u0026amp;\u003c\/i\u003e PROBABILITIES\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e\"Ed has the experience, he has the knowledge, and he has the ability to wrap it all up into one of the most useful and insightful books on trading that I've read. You're going to be a better trader with the help of this book.\"\u003cbr\u003e \u003cb\u003e—Rob Booker, independent currency trader, and author of\u003ci\u003e Adventures of a Currency Trader\u003c\/i\u003e\u003c\/b\u003e  \u003c\/p\u003e\u003cp\u003e\"This book is a must-read for any equities trader who is trying to learn the ins and outs of the forex markets. Ed has the rare gift among traders and educators to take complex trading theories and break them down into interesting and easy-to-digest trading concepts. I have personally had the benefit of studying live with Ed, and I found this book a great review of my live courses with him and now use it as my main forex reference book in my trading library. Ed you truly are the rock star of the FX markets. Well done!\"\u003cbr\u003e \u003cb\u003e—Michael J. Di Gioia, cofounder, the Results-Driven Financial Network\u003c\/b\u003e  \u003c\/p\u003e\u003cp\u003e\"\u003ci\u003eForex Patterns and Probabilities\u003c\/i\u003e is one of the best practical forex trading books I have read, and I have read a good many forex books! Ed thoroughly teaches those areas that cause most difficulty for new traders, from economic fundamentals to technical trading to the psychological aspects that are so important but ignored by so many new to trading. Peppered throughout with anecdotes from the trading and non-trading world, Ed's easygoing, homespun style gets his message across very effectively. This work is destined to become essential reading for both new and established traders.\"\u003cbr\u003e \u003cb\u003e—George Hallmey, Director, www.Clickevents.com\u003c\/b\u003e  \u003c\/p\u003e\u003cp\u003e\"Ed Ponsi is a complete teacher! \u003ci\u003eForex Patterns and Probabilities\u003c\/i\u003e covers it all for forex and trading in general. This book will teach you the foundations, the tactics, the pitfalls, and the 'real' world of forex. As Director of Education for the Online Trading Academy, I understand the importance of education and trading knowledge. . . \u003ci\u003eForex Patterns and Probabilities,\u003c\/i\u003e while focused on forex, allows the reader to see the nuances of trading in general—fundamental, technical, psychological, plan management, and a strong, healthy dose of risk management and discipline.\"\u003cbr\u003e \u003cb\u003e—Mike McMahon, Director of Education, Online Trading Academy\u003c\/b\u003e\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989233942757,"sku":"NP9780470097298","price":94.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470097298.jpg?v=1761783311","url":"https:\/\/k12savings.com\/products\/forex-patterns-and-probabilities-isbn-9780470097298","provider":"K12savings","version":"1.0","type":"link"}