Courses Infomation

Practical Applications of Candlestick Charts by Gary Wagner

Forex Trading – Foreign Exchange Course

You want to learn about Forex?

Foreign exchange, or forex, is the conversion of one country’s currency into another.
In a free economy, a country’s currency is valued according to the laws of supply and demand.
In other words, a currency’s value can be pegged to another country’s currency, such as the U.S. dollar, or even to a basket of currencies.
A country’s currency value may also be set by the country’s government.
However, most countries float their currencies freely against those of other countries, which keeps them in constant fluctuation.

Russell feels that purely mechanical systems, no matter how rigorously tested, still leave room for the personal judgment of an experienced trader. He points out those areas and techniques where he feels the trader should exercise that judgment, sometimes to optimize the potential profit from a trade and sometimes to prevent the trader from following his system.

Russell feels that people can, and always will, trade better than machines — provided they put forth the effort. Russell explains why trend-following works and why it will continue to work in the future. He points out what he feels are the dangers and shortcomings of other types of trading methodologies, all from the viewpoint of statistical analysis and standard probability theory.

Russell shows you how the Turtles were taught to define and exploit trends in the futures markets through the use of both classical and proprietary technical analysis. He gives you some ground rules on how to devise your own customized trading system, including how to interpret computer testing results and how to avoid the dangers of optimization or curve fitting in an attempt to create a profitable and workable system.

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 : Practical Applications of Candlestick Charts by Gary Wagner