Forex Trading for Maximum Profit

Reader off this book will read it for one simple reason: You want to trade Forex successfully, which is to say you want to be a profitable Forex trader. I'm not going to lose sight of this fact. nIn fact, I can tell you why I chose to take on the painstaking effort of writing my book.About four years ago, more than a few of my students wanted to trade Forex and I did not have a book or course to recommend to them. I did visit many bookstores in an effort to find even one book that I felt provided would-be Forex traders a methodology they could follow. My search yielded no results. Let me tell you what I did find. I found books that discussed the history of the Forex, books that discussed the interbank relationship, books that discussed the pairs and fundamentals of the Forex market, and finally books that discussed all the patterns and indicators you could use in the Forex market. I call the last type of book "glossary" books because that's all that they are: A collection of definitions and descriptions with no step-by-step methodology.
Chapter 1: Trading ForeX"You may be asking yourself, "Why haven’t I heard of this market before now?" If this trading market is relatively new to you, don’t feel like you are alone. Let’s explore what every trader or investor needs to know about Forex. The foreign exchange or “Forex” (also called the spot market) is the largest market on the planet. This is an irrefutable fact. Its average $1.5 trillion to $2 trillion traded per day is almost 100 times that of the $25 billion of the NYSE. And while we will be discussing this in depth later, remember, size has its advantages. The Forex market may seem like a new market to those of us in the United States but in actuality this market has been around for many years. There are two developments that brought Forex trading to life and to the United States. First was the decision that led to the free-floating market we trade today. The catalyst was President Richard M. Nixon’s decision to abandon the gold standard in 1973 (...)"