Trading Strategies for the 21st Century (Audio Book) by Charles E.Mellon

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Trading Strategies for the 21st Century (Audio Book) by Charles E.Mellon

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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.

In the world of finance, a trading strategy is a predetermined plan created to benefit from market longs or shorts. A thoroughly studied trading strategy is beneficial primarily because it is verifiable, quantifiable, consistent, and objective. A trading strategy is created and implemented in the following eight steps: [1] (1) Formulation, (2) Computer-testable specification, (3) Initial testing, (4) Optimization, (5) Performance and robustness evaluation, [2] (6) Trading the method, (7) Tracking trading results, (8) Fine-tuning and development

One must specify the assets to be traded, entry and exit points, and money management guidelines for each trading strategy. A potentially successful technique may become unprofitable due to poor money management. [3]

Technical analysis and fundamental analysis are both used in trading methods, or both. Mean-reversion and momentum groups are the major categories into which technical techniques may be categorized. There are even more precise approaches, such as “Sell in May and go, then come back in September.” Backtesting is typically used to validate trading methods, and the procedure should adhere to the scientific approach.

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