Forex for beginners anna coulling ebook store
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But Anna Couling writes a fairly approachable first book on Forex. She writes lots of books about trading, and runs a website offering trading courses, which is obviously how most people actually make money in this game. But after browsing around a bit on forex forums, the consensus seems to be that Coulling is the real deal and knows her stuff.
One does always wonder about investment gurus, if they know what they're talking about, why aren't they super-rich? I assume Coulling is successful in her trading, but how successful? This book introduces you to the basic concepts behind forex trading - how and why the market developed, what the major and minor and "exotic" pairs are, basic terminology like pips, positions, stop losses and lots and contracts and margin calls.
These are three types of analysis most traders use, and technical vs. Coulling is mostly a technical trader, using what she calls "Volume Based Analysis," which basically means keeping an eye on what the whales central banks and the like are doing in the market and following them.
She then describes strategies, including psychological, for becoming a forex trader. She gives lots of practical advice, including an introduction to Mt4 and MT5, the two most popular trading platforms, but don't think based on this book you will suddenly be able to start trading successfully. You'll know just enough to be dangerous. I opened a demo account, took a short position with one mini-lot on USDJPY, and within a few minutes my position got stop-lossed out, with a loss of about 12 cents.
Which was funny, but also a good lesson for anyone thinking they'll just gamble with real money. You could also pick the winning lottery number. I cannot emphasise this enough. There are so many pitfalls out there and whilst describing a great, logical strategy for trading using volume this book also explains how to avoid many traps. It's actually scary at first when you realise how little about the markets and their drivers you know.
Beware of the market makers! I am a beginner to Forex trading. I have not actually started live trading yet. I want to have a solid trading plan before I begin trading. This book has a lot of good information. Having started with no knowledge of the Forex market, It has given me an understanding of what is involved in trading in Forex. The book is by no means the only book you will need on the subject, but in my opinion, it is a great start. I think the author touches on everything you need to know as far as topics, but sticks to systems and methods that have worked for her.
I agree with some of the other reviewers that the book really could have used better editing, or any editing at all. The thing that most bothered me was the size of the book; The full 8. It was hard to carry around all day, as it did not fit in my lunch box. Neither of these issues take away from the fact that the information provided is good, the book can be the start to a solid foundation.
It is not the be all, end all, but as I said before it is a great start Good read and very useful the only part that lets this book down are the images! It is stated you can view the on her website but once you get there you need a password, what the password is your guess is as good as mine! Also several times in the book Anna will be talking about a set image but that image is a page back which is annoying when you're trying to read and scan the image I'm scalping off the one minute charts, using hourly and daily charts to set the stage.
I'm playing it very conservatively because I've been disappointed with several other strategies, but I can tell you that the more indicators you are using and the more clutter on your charts, the less likely you will succeed, IMO. Price and volume tell it all. In some sense Couling's emphasis on volume is a rehash of classic tape reading from the s and she reminds me of how Nick Darvas simplified a practical strategy, but the essential contribution here is applying these stock trading compasses to Forex.
Many Forex traders have too much "knowledge" and will be more profitable using volume alone instead of bands, oscillators, signals, macd, moving averages, etc. This is a quality book So, for infinitely less than the cost of a failed trade, I thought I'd go back to basics and get my brain back into gear. Appreciating though that there's no one way only of trading, and that it's a case of 'horses for courses,' the contents of this series of three books may not gel with everybody, but aspects certainly have for me and sparked enlightenment over some of the ideas I hadn't previously fully taken on-board - I've now started trading differently.
I wish I'd read this book years ago, before losing myself in many of the ideas that had lodged themselves in my shell-like from reading other books. I don't give 5 stars for anything, so this is probably a first for me! I'll start with a little background to put this review in context. I started getting interested in forex trading with an email touting some guy that had a "system. At 2 months I couldn't explain his system clearly to myself, and he was changing methods almost every day and frequently seeming to contradict things he'd said before.
I kept at it for another couple weeks and then used the money back guarantee. I then started downloading and backtesting all kinds of indicators and EAs and browsing Amazon reviews looking for a better guide. Next I scanned a couple forex books and a couple on trading in general, and I used Technical Analysis of the Financial Markets as an encyclopedia.
FOREX GOLD EA
It is the application of knowledge that empowers, and this is what I have tried to do here, and in my online training rooms, and all my books. It's all about risk There are of course many books about forex trading. What is different about this book, is the focus on those aspects of trading which I believe are fundamental. After all, there are only two questions we need to answer when considering a position in the market:- What is the risk on this trade - high, medium or low?
What is the financial risk on this trade? The first is the hardest question to answer, and the book will explain in detail the analysis and approach to use, in order to answer this question with confidence. The second question is more straightforward and is answered provided you have an understanding of risk, money management and position sizing in relation to your trading capital.
Again, this is covered in detail in the book. It is the application of knowledge that empowers, and this is what I have tried to do here, and in my online training rooms, and all my books. There are of course many books about forex trading. What is different about this book, is the focus on those aspects of trading which I believe are fundamental.
After all, there are only two questions we need to answer when considering a position in the market:- What is the risk on this trade - high, medium or low? What is the financial risk on this trade? The first is the hardest question to answer, and the book will explain in detail the analysis and approach to use, in order to answer this question with confidence. The second question is more straightforward and is answered provided you have an understanding of risk, money management and position sizing in relation to your trading capital.
Again, this is covered in detail in the book. As the tag line on the front cover says 'What you need to know to get started, and everything in between' which really sums up what you will learn. The book explains everything, from the pure mechanics to the trading methodology that I advocate, and which I have used in all my own trading and investing for over 17 years.
Forex For Beginners is also dedicated to all those traders who have asked me to write such an introduction, based on my knowledge and my methodology. This book is for you. Clearly they believed as a mere woman, I was incapable of understanding the complexities of the markets. This prompted my desire to learn, and since then I have been involved in every aspect of trading and investing for over seventeen years.
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