Profiting With Forex The Most Effective

The forex market is the world's largest, handling more than 33 times the combined daily trading volume of NYSE and Nasdaq Forex trading was up 57 percent in 2004 to $1.9 trillion per day, and is expected to reach $3 trillion per day in 2006 Reveals strategies for individual investors to apply both fundamental and technical analysis for trading in the increasingly important forex market

John Jagerson, CMT is content director for INVESTools, the leader in the investor education industry. A veteran futures trader, Jagerson writes weekly columns for INVESTools subscribers on trading strategies in forex, equities, options, and futures.

ACKNOWLEDGMENTS

ix

INTRODUCTION

xi

CHAPTER 1 Profiting with Forex

1

(36)

What Is the Forex Market?

3

(1)

The Advantages of the Forex Market

3

(5)

Mind the Gaps

8

(14)

Life Is Going to Happen

22

(3)

Diversification

25

(1)

Protect and Multiply

26

(2)

The Forex Can Be Fickle

28

(1)

The Skeptic's FAQ

29

(4)

Taking Advantage of the Forex Market

33

(4)

CHAPTER 2 Basic Lingo Lesson

37

(6)

Pip

37

(1)

Currency Pair

38

(3)

Contract (or Lot)

41

(2)

CHAPTER 3 How the Forex Market Works

43

(8)

CHAPTER 4 Genesis and Growth of the Forex Market

51

(16)

The Modern Gold Standard

52

(6)

It Has All Happened Before

58

(7)

Profiting from History

65

(2)

CHAPTER 5 Fundamental Analysis Tools

67

(4)

CHAPTER 6 The U.S. Government

71

(20)

The Fundamental Factor

71

(1)

The National Debt

72

(7)

The Fundamental Tool: TIC Data

79

(3)

Interest Rates

82

(2)

The Fundamental Tool: The Target Interest Rate

84

(5)

Using the Tools

89

(2)

CHAPTER 7 Inflation

91

(10)

The Fundamental Factor

91

(3)

Combating Inflation

94

(2)

The Fundamental Tool: The Consumer Price Index (CPI)

96

(4)

Using the Tools

100

(1)

CHAPTER 8 The U.S. Stock Market

101

(12)

The Fundamental Factor

101

(4)

The Fundamental Tool: The S&P 500 via the SPY

105

(6)

Using the Tools

111

(2)

CHAPTER 9 China

113

(18)

The Fundamental Factor

113

(4)

United States' Dependence on China

117

(2)

The Fundamental Tool: USD/CNY Exchange Rate

119

(2)

The Asian Financial Crisis of 1997

121

(5)

The Fundamental Tool: Balance of Trade

126

(3)

Using the Tools

129

(2)

CHAPTER 10 Oil

131

(16)

The Fundamental Factor

131

(1)

What Is Oil?

132

(1)

The Genesis of Big Oil

132

(4)

OPEC

136

(2)

Oil and Your Portfolio

138

(3)

The Fundamental Tool: NYMEX Crude Oil Futures

141

(4)

Using the Tools

145

(2)

CHAPTER 11 Breaking News

147

(8)

The Fundamental Factor

147

(2)

Guessing Right

149

(3)

Guessing Wrong

152

(1)

The Fundamental Tool: Technical Analysis

152

(2)

Using the Tools

154

(1)

CHAPTER 12 Seesaw of Supply and Demand

155

(10)

The Seesaw and Individual Currencies

155

(3)

The Seesaw and Currency Pairs

158

(2)

Interest Rates and the GBP/JPY

160

(3)

Conclusion

163

(2)

CHAPTER 13 Technical Analysis Tools

165

(10)

Technical Indicators

167

(2)

Technical Analysis Tool: The Moving Average

169

(1)

Technical Analysis Tool: Oscillating Indicators

170

(3)

Terms of the Trade

173

(2)

CHAPTER 14 Support, Resistance, and Fibonacci

175

(38)

Support and Resistance

176

(21)

Fibonacci

197

(15)

Using the Tools

212

(1)

CHAPTER 15 Putting It All Together—Trading Techniques

213

(26)

Trading Technique 1: The Carry Trade

214

(6)

Trading Technique 2: Trading Economic Announcements

220

(4)

Trading Technique 3: Following Oil

224

(4)

Trading Technique 4: Following Gold

228

(6)

Trading Technique 5: Technical Divergences

234

(4)

More Trading Techniques

238

(1)

CHAPTER 16 Money Management

239

(10)

Money Management Pitfalls

240

(4)

Money Management Rules

244

(4)

Conclusion

248

(1)

CHAPTER 17 Getting Started

249

(4)

Thanks, but No Thanks

249

(1)

Profit with a Professional

250

(1)

I'm Ready to Dive In

250

(3)

Conclusion

253

(2)

APPENDIX Fat Tails

255

(6)

INDEX

261

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Profiting With Forex The Most Effective Tools and Techniques for Trading Currencies

Summary

Author Biography

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