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Mastering High Probability Chart Reading Methods by John Murphy

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Mastering High Probability Chart Reading Techniques by John Murphy

By employing the potent sector trading tactics developed by famous technical analyst John Murphy, you may achieve significant returns even when the market is in a downward trend. The Traders Hall of Fame inductee walks you through each step of how to identify the best sectors to play at the correct moment and how to switch between them with ease while still making money. Murphy’s techniques assist you decide when to switch between different markets by pointing out important connections between them, such as those between stocks, commodities, bonds, and currencies. This way, you’ll be ready to seize the most lucrative chances accessible in any market environment. Murphy’s on-target signals for rotating across sectors will keep you in the “hot” winning ones, at the best moments in the economic cycle – time and time again. A comprehensive online assistance manual is accessible at traderslibrary.com/tradesecrets. * “Simple Sector Trading Strategies: Profit by Being in the Right Markets – at the Right Time” is the full title.

Can you continuously make large returns even when the market is in a negative spiral? Yes, provided you avoid investing in the incorrect markets or buying the wrong stocks at the wrong moment. The secret to winning the profit war is identifying the correct areas to play at precisely the right time. With the help of John Murphy, winner of the Traders’ Hall of Fame award, viewers of this practical lesson may learn how to consistently take advantage of the trades with the highest likelihood.

What is forex?

Quite simply, it’s the global market that allows one to trade two currencies against each other.

If you think one currency will be stronger versus the other, and you end up correct, then you can make a profit.

If you’ve ever traveled to another country, you usually had to find a currency exchange booth at the airport, and then exchange the money you have in your wallet into the currency of the country you are visiting.

Foreign Exchange
You go up to the counter and notice a screen displaying different exchange rates for different currencies.

An exchange rate is the relative price of two currencies from two different countries.

You find “Japanese yen” and think to yourself, “WOW! My one dollar is worth 100 yen?! And I have ten dollars! I’m going to be rich!!!”
When you do this, you’ve essentially participated in the forex market!

You’ve exchanged one currency for another.

Or in forex trading terms, assuming you’re an American visiting Japan, you’ve sold dollars and bought yen.

Currency Exchange

Before you fly back home, you stop by the currency exchange booth to exchange the yen that you miraculously have left over (Tokyo is expensive!) and notice the exchange rates have changed.

It’s these changes in the exchange rates that allow you to make money in the foreign exchange market.

Salepage : Mastering High Probability Chart Reading Methods by John Murphy