With the odds stacked against them from the start, retail traders need to track an unconventional path if they're going to succeed in the market. In Unconventional Forex Trading, Marc Principato explains the underlying structure of the market; the intentions and behaviors of key market participants; and why many retail traders largely function as revenue-generators for brokers taking the other side of their trades. By presenting a thorough and brutally honest description of the market, Principato helps readers to understand that they must take a carefully chosen and deliberate educational path to become one of the winners in a game where most lose. To begin with:
It's important that traders understand the behavior and motivations of all market participants including the nature of price discovery; and how to select the best broker for the strategy they want to employ. Principato advocates that traders use price-based analysis such as Market Profile, Candlesticks, or Elliott Wave, and steer clear of derivative tools such as oscillators. Traders should use the tools to measure probabilities and develop strategies that are based on repeatable market patterns.
By understanding the inner workings of the market; soberly assessing market probabilities, and trading pre-defined patterns, retail traders can raise their game to the level of professionals and succeed in an arena where so many fail.
- ISBN13 9781118824832
- Publish Date 17 April 2017 (first published 26 June 2015)
- Publish Status Cancelled
- Publish Country US
- Imprint John Wiley & Sons Inc
- Format eBook
- Pages 256
- Language English
- URL http://wiley.com