4 Keys to
Profitable Forex Trend Trading
4
Keys to Profitable Forex Trend Trading: Book Review by Kenny of
Tradersdaytrading.com
Christopher Weavers 4 Keys to Profitable Forex Trend Trading gives the
reader an in depth explanation of 4 simple, but very effective trend
trading techniques. Although the author describes them as Forex
trading
strategies, as with virtually all technical analysis methods, these
systems can
also be used in a technical analysis study of almost any
other financial market.
Forex is the largest financial market in the world, trend trading is
one of the most profitable ways to trade, and the 4 keys described by
the author are 4 of the rudimentary elements of technical analysis.
Combining all of those factors with his excellent explanation of the
methods used in their practical application, and I am certain that
Chris Weaver is bound to have a winner on his hands with this book, 4
Keys to Profitable Forex Trend Trading.
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4 Keys to Profitable Forex Trend Trading
The 4 keys described in the book are actually very similar to some of
the elements of a system that I have used in my Trend
Trading
tutorial on this site, however, Chris Weaver has done
a far better job of describing them than I ever could.
Key 1
Even if you have never drawn a trend line before, this manual will show
you a simple strategy for how to draw simple trend lines and apply them
successfully. The author takes you step by step through a system of
drawing the trend lines, and how to find precise trade entries, targets
and where to place your stop losses.
Key 2
The second key is an extension of the first, where readers are shown
how to use these simple trend lines from to create a price channel.
Once again, readers are taken step by step through a system of drawing
the price channels, how to find precise trade entries, targets and
where to place stop losses.
Key 3
This key involves another of my favorite technical tools, Fibonacci.
This is actually a huge topic as there are various systems and methods
of using Fibonacci in technical analysis. Chris’s third key more
specifically focuses on Fibonacci
retracements and his system for using
these levels to find specific trading entries, targets and stop
losses.
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4 Keys to Profitable Forex Trend Trading
Key 4
Symmetrical triangles, patterns created from converging trend lines.
Once again, includes a very clear description of how to draw the
converging trend lines, and how to use them to find precise trade
entries, targets and stop loss levels.
4 Keys to
Profitable Forex Trend
Trading is an ideal introduction to
anyone who is interested in learning the basics of trend trading
whether it is in Forex, Stocks, Commodities or any other market. The 4
keys are fundamental elements of technical analysis and the book gives
readers an excellent introduction to their practical application
through some example trading strategies, backed up every step of the
way with an abundance of graphical illustrations.
Although experienced chartists will recognize the methods used, Weavers
4 Keys to Profitable Forex Trend Trading does offer a reminder of how
simple trend line analysis can be used to develop some highly
profitable trading systems. However, beginners to technical
analysis will undoubtedly be the ones who gain the most from
this book.
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4 Keys to Profitable Forex Trend Trading :
Contents
Preface
Introduction
Key 1 - Trend
Lines
The Theory
- Primary strength: tells you whether to buy or to sell
- Some practicalities
- Basic trend line characteristics
- Trend line types
- Trend line projection
Entry and Exit Strategies
1. Trend line bounce strategy
2. Trend line break strategy
- Key 1 Summary
Key 2 -
Channels
The Theory
- Primary strength: creates a trending
range
- Channel characteristics
- Channel types
- Channel zone projection
Entry and Exit Strategies
1. Channel bounce strategy
2. Channel break strategy
- Key 2 Summary
Key 3 -
Fibonacci Retracement Levels
The Theory
- Primary strength: reveals hidden support/resistance levels
- Fibonacci retracement level characteristics
- Fibonacci types
- Overlapping Fibonacci levels
Entry and Exit Strategies
1. Fibonacci bounce strategy
2. Fibonacci break strategy
- Key 3 Summary
Key 4 -
Symmetrical Triangles
The Theory
- Primary strength: clear message - indecision
- Symmetrical triangle characteristics
- Symmetrical triangle types
- Symmetrical triangle zone projection
Entry and Exit Strategies
1. Symmetrical triangle bounce strategy
2. Symmetrical triangle break strategy
- Key 4 Summary
Using the
Keys Effectively
Which currency pairs should we trade?
The trend strength of the cross rates
The locked chart
Multiple key confirmations
Examples of multiple key confirmations
Conclusion
Index
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4 Keys to Profitable Forex Trend Trading : Jacket
Text
The forex market is huge, and the potential to make money from it
immense, but how should you structure your trading in order to profit
from it? Technical analyst Christopher Weaver shows you how to improve
your trading of trending currency pairs using trend lines, channels,
Fibonacci retracements and symmetrical triangles.
These are the four keys to making money trading forex. And this is no
surface guide; the author explores in-depth how every key works, why
they are useful, their different variations, and, most importantly, two
practical strategies for each which take full advantage of their
strengths.
The concepts behind the keys can sound mysterious, but Christopher lays
bare their workings with plain English and sharp insight. Fully
illustrated with charts and examples, this is a unique and essential
guide to making successful trades in the most exciting market out there.
4 Keys to Profitable Forex Trend
Trading: Unlocking the Profit Potential of Trending
Currency Pairs
by Christopher Weaver
Pages: 384
Published: 30 Jan 2012
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