Forex price action scalping book.
The Forex price action scalping book is a new release from Charles Schwab that focuses on the technical aspects of scalping Forex. The author, John H. Forman, PhD, an expert in international finance, has written an engaging book that is geared toward both beginners and experienced Forex scalpers. In fact, some of the terms used in this book may confuse some seasoned traders. The author provides a clear explanation of the terms used in his book and provides several examples of real-time examples of price action scalping to demonstrate the usefulness of scalping.
The Forex price action scalping book teaches a simple method for understanding and utilizing technical analysis in the Forex market. It begins by teaching the trader how to identify and understand economic indicators. Each of these indicators has its own strengths and weaknesses that should be kept in mind while trading.
The Forex price action scalping book then goes into explaining the relationship between the price and the level of the par value, which is essentially the risk-reward ratio. The price action scalping book then explains the use of candlestick charts and moving averages to determine the par value. It then goes on to explain how the strength of the support and resistance levels can forecast future movements of the prices. The author emphasizes that trading on the strength of the support and resistance levels should be done as a stop-loss strategy. He also emphasizes that price movements should be considered in conjunction with other economic indicators.
The Forex price action scalping book then explains the use of fibs charts. These are better explained in a few paragraphs that I will summarize here. The author shows how to identify areas of support or resistance, high points for potential future highs and lows, pivot points, envelope patterns, retracements, and momentum indicators.
Finally, I want to point out in my Forex price action scalping book review that the author provides a number of excellent practice scenarios for trading on fibs charts. He does not provide a number of ideal environments but he does provide practice scenarios that test each one of them. This makes it very easy for an experienced trader to learn and then apply these rules in real time market situations. This is of course, after you have learned the principles from this Forex price action scalping book.
I know for a fact that not many people outside of the FX markets are familiar with the price action scalping technique. In fact, most people who trade in the Forex markets are not even aware that it exists. The book makes it very clear just how important scalping is in the Forex markets and why you should only trade it if you can at least get away with it. There are some very high level concepts and strategies within the Forex price action scalping book and those are discussed in great detail.
Price Action Scalping is based on the principal of "gearing" or "trend sizing". This basically means that the price action scalping book teaches you how to determine what the price will do before you make any trades. Essentially, by knowing where the price will be on a particular time scale you can effectively prevent your losses. This is one of the advantages of scalping Forex as opposed to day trading which is extremely prone to losses due to news or economic data shocks. Many scalpers get into Forex with the belief that they can become rich quick and leave the day trading arena altogether. Unfortunately, that is never the case.
As far as I am concerned, the best Forex price action scalping book on the market is by Avi Frister. If you want to take your trading to the next level and start making a lot of money, you owe it to yourself to check out his Forex price action methods. You will not regret your decision, as they will literally pay for themselves over time. If you are a beginner, I recommend that you begin with a copy of his book; it is definitely worth the investment.