Books

Tactical Forex Trading by Wayne Mcdonell
- Minimum Acceptable Performance of USD50 per day is required for me to switch to full time trading as of 2010
- Divergence
MACD shape to be obvious
- If you can only afford 1 lot short trade for USD, check EUR/GBP. If EUR/GBP DN, long GBP/USD.
- EUR/USD is -0.98 correlated with USD/CHF
- The larger the angle & separation between the EMAs, the more favorable to trade and the more likely that critical lines will be broken.
- Speed of MKT also determined by which EMA the price is riding. (5EMA fastest)

Beat the Forex Dealer by Agustin Silvani
- Price spike takes out the stops set below the previous low
- Avoid placing stops close to/at round numbers
- Prices open on Sun NY time in the same prevailing direction as they closed on Fri evening. Direction may be reversed when Tokyo enters the MKT. Trade US pairs only, don't trade AUD or NZD crosses. Ensure no major news release in the weekends.
- Spike lower followed by sharp V-shaped recovery: Don't short

High Probability Trading Strategies by Robert Miner
- Adjust indicator lookback period so both fast & slow lines of indicator reaches OB or OS zone most of the time before a momentum reversal is made. Shorter lookback period will result with momentum reversals closer to the price swing highs & lows but increase false momentum reversals. Don't trade if bull in OB zone or bear in OS zone for higher time frame momentum.

The Nature of Trends
- Sideway Trends: If the MKT retraces less than 78.6%, it will probably continue away from its originating boundary. Beyond 20% of boundary extremes, assume MKT resumed directional move.
- When the MKT accepts beyond A by 20% of A/B, we assume uptrend will continue. However, when MKT accepts prices beyond B by an amount greater than MAX extension, LCC & WPC forms, we assume trend has reversed. For M5 chart, WPC = 3 consecutive whole bars below B from uptrend to downtrend. LCC: +3 = breakout. Above breakout point, +1. Breach against new trend, -1.
- Primary Buy Zone (PBZ) in bull to bear trend: Low of B + (A - B)/8
Primary Sell Zone (PSZ) in bear to bull trend: High of B - (A - B)/8

7 Winning Strategies for Trading Forex by Grace Cheng
- Good bounce opportunity on 3rd or 4th point of contact for gradient of trendline less than 45 degrees with decent amount of open space between the connecting points and moving average slightly below ascending trendline.
- Open long position at 10 pips above hrly candle which closed beyond breakout level
- Place stop-buy entry 10 pips above horizontal resistance of ascending triangle.

High Probability Trading by Marcel Link
- Trade at M5 following H1 trend & stochastics
- ADX rising to 30 suggests breakout
- As volatility increases, stops have to be placed wider or they are likely to be hit

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