Pay your money; take your pick. Technical analysis, despite its faults, has attracted more traders than fundamental analysis has, for the following reasons: • Technical analysis input (primarily prices in FOREX) is objective, transparent, and available to everyone. • Technical analysis offers a nearly infinite number of possibilities for manipulation and application. Despite the millions of hours of effort expended on…

Most traders today use technical analysis to trade. This refers to techniques based on price and other objective data that result from market action. The technician’s credo is “Everything is in the market price.”            The factors examined in fundamental analysis, such as a country’s income, gross national product, and interest rates certainly drive currency prices in the long run.

There are enough ideas for beating the markets to make you very rich— or very poor. —Charles B. Goodman Most traders consider trading techniques—the actual tools they use to make trading decisions—as the most important element of trading. The proof is in the pudding; just consider the corpus of information both in print and online that deals with trading techniques. The…

This comprises a brief overview of the traditional elements—trading techniques, money management, and style. A basic knowledge of the elements is important to the topic of developing the codex. The brief discussions are intended to get you thinking about your own personal likes, dislikes, successes, failures, and propensities as a trader. Developing a Trading Codex This section describes the important transition…

Getting Started in FOREX Trading Strategies is intended as a sequel to Getting Started in Currency Trading (GSICT), although it may certainly be used independently. One comment readers often make after reading the latter is, “Great, now I know the mechanics of FOREX. But what do I do next?” This book addresses that question. However, it does assume some basic…

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