7 Winning Strategies for Trading Forex Real and actionable techniques for profiting from the currency markets Contents About the Author                                                                i Preface                                                                                 ii Introduction                                                                        iii Part I: Trading Forex                                                           1 1: Getting Started                                                               3 2: Spot Forex Market Structure                                        29 3: How To Overcome The Odds Of Trading Forex           41 4: The Ten Rules For Forex Trading                                  57 Part II: Strategies                                                               61 5: Strategy 1 – Market Sentiment                                   63 6: Strategy 2 – Trend Riding                                             83 7: Strategy 3 – Breakout Fading                                     109 8: Strategy 4 – Breakout Trading                                   131 9: Strategy 5 – Decreased Volatility Breakout              153 10: Strategy 6 – Carry Trade                                          175 11: Strategy 7 – News Straddling                                  189 Appendices                                                                       211 Forex Glossary                                                                  213 Currency Codes                                                                225 Major Regulatory Agencies                                             232 Index Getting Started Find out why the forex market is constantly growing, and why an increasing number of people are turning to trade this particular asset class in their quest to accumulate wealth. For those who are new to trading, take a look at the differences between investing and trading, and the various choices of trading time frames. Spot Forex Market Structure The forex market has long been the exclusive playground of the big players, namely banks, institutional investors and hedge funds. But the playground is no longer restricted to just them; individuals can also participate in this speculative game. However, independent forex traders can be disadvantaged in some ways due. how the spot forex market is structured. It is essential to know where you, the trader, stand in the overall big picture. How To Overcome The Odds Of Trading Forex How are you going to tackle the odds that are stacked against you from the start in the forex trading business? In this chapter, I will highlight the three Ms that have brought me success in this field: Mind, Money and Method. Many traders, especially the inexperienced ones, are too fixated on finding the perfect trade setup, the perfect trading system or the strategy that never fails, thus neglecting the other more important aspects that are crucial to good trading performance. Strategy 1 – Market Sentiment The forex market is heavily driven by market sentiment, and it is market sentiment that influences traders’decisions by triggering certain emotions and thoughts. Find out what defines the current market sentiment, and how you can incorporate market sentiment analysis into your trading.