Forex Blog

Today I offer you a new free ebook to download from my site — A Six-Part Study Guide to Market Profile. Actually it’s not very new — it was written in 1996 by the Chicago Board of Trade professionals. It thoroughly explains the one of the most innovative but not too popular trading concept — the market profile. First it will help you understand what market profile is and how it can help in your trading. The good thing here that it doesn’t matter if you are a long-term or a short-term trader. And although it was written for the commodity traders, it can still be easily applied in the Forex market. Then it will teach you how to use the market profile to monitor both short-term and long-term trends. This book will also tell you how to relate the daily trading volume with market activity and benefit from it. Carrying out the actual trading decisions relying on the market profile data is described in the last two chapters of this ebook.

The only problem with this book is its size — it’s 346 pages long and it will take a while both to download and to read. Nevertheless, if you are interested in the concept of market profile it will be a helpful addition to your electronic library.

I uploaded a new ebook to the Advanced Trading Books part of the site today. It’s actually a rather small article than a real book — Trend vs. No Trend by Brian Dolan. It was originally published in TRADERS’ Magazine in 2005. It describes the advanced methods of the trend detection that would work in the undetermined trend conditions. Brian describes the trend/no trend paradox that occurs often with the standard methods of trend detection. He offers additional technical indicators that would work not only in a clearly trending markets but also in the beginning and the end of the sideways market, where the majority of the trend-loving traders fail to recognize any signs of danger.

To avoid getting caught in the paradox, this article will suggest using several technical tools in conjunction to determine whether or not a trend is in place. This will in turn dictate which technical indicators are best used to gauge entry/exit points as well as provide some risk management guidance. Rather than setting forth a list of concrete trading rules, this article seeks to outline a dynamic approach to the use of technical analysis to avoid getting caught in the trend/no-trend paradox.

I uploaded a new Forex ebook to the site today — it’s called FX Destroyer. It was sent to me by one of the site visitors a couple of days ago. Although it’s full of advertising and it can’t be considered a «real book» due to the lack of theoretical base, it offers an interesting yet simple trading strategy that is free for everyone to try. I hadn’t enough time to test fully the FX Destroyer strategy that is presented in this ebook, but I hope that some of the traders who download this ebook will report on their testing results. If someone will find this strategy extremely unprofitable, please, don’t hesitate to comment about it here.

A new Forex related ebook is now available for download — Profitunity Study Manual. If you are still unfamiliar with Bill Williams’ theory of the chaos trading, this ebook will help you to understand the most important aspects of this theory and learn completely new ways of market analysis. Profitunity trading was developed by Bill Williams to make a new alternative to a prevailing static theory of the market analysis and now it serves as an advanced way of the trader’s proficiency. Those traders who have read other Williams’ books will find this one an interesting and useful read too.

Update: I had to remove the Profitunity Study Manual from my site, because it’s copyrighted by profitunity.com and they prohibit posting it anywhere else.

There are many similarities between the money management strategies in the gambling and the Forex trading. In fact there are too little differences between money management in any risk-based money making. Of course, that fact doesn’t mean that Forex market is a casino and traders are gamblers, there are many other properties that define Forex from the gambling industry but that’s another story. I’ve uploaded a new ebook to the site today — Money Management in Gambling. Actually it’s just a section of one book written by Dr. Edward O. Thorp (The Mathematics of Gambling), who was one of the first to introduce high mathematical theories into the professional gambling. His take on money management can be used no only in gambling but also in any financial trading. With the abundance of tables, formulas and examples Thorp explains the most basic and the most useful aspects of money management and risk-wise bet positioning.

A new Forex strategy e-book now can be downloaded from my site - this time it’s about many (really a lot) powerful short term strategies and the basic rules of trading Forex using such strategies. It even has a chapter on Wolfe Waves - one of my best trading method for Forex charts. But don’t expect to spend 20-30 minutes to read some strategy from this e-books and begin earning millions in a few days. This is a big book with highly interconnected information that will help you a lot in your strategy building as a whole book, not separate chapters. Be prepared for some long but very interesting and educating reading:

Street Smarts - High Probability Short Term Strategies - by Laurence A. Connors and Linda Bradford Raschke.

New Forex strategy e-books are available for download from my site. Both books are more suited for Forex newbies than advanced traders, but are worth reading for both:

• Microtrading the 1 Minute Chart - it’s about scalping on the shortest term chart and it won’t mean a lot of new reading for experienced Forex traders.
• ICWR Forex Trading Strategy - this strategy e-book covers Impulsive/Corrective Waves Retracement strategy describing its rules and principles in an easy-to-understand way.

Now you can download one more e-book about money management in Forex market from my books page. The new e-book is called Money Management by Dave Landry (not very original, isn’t it? ) . It is quite a short book for such an important topic - only 19 pages. It consists of four chapters and is written in a very easy manner which makes it a very good book for Forex beginners.

Rapid Forex books set :.

A new e-book (a set of four e-books, to be exact) on Forex trading strategies is available for download from www.earnforex.com. Rapid Forex consists of three aggressive Forex strategies by Robert Borowski - Forex Sailing, Forex Scalping, Forex Surfing and one strategy by Stephen Pierce - Rapid Fire Swing Trading.