THE INTERNATIONAL FX MARKET

By Chris Mwangi

The international forex market handbook describes the forex market participants, how they affect the currency prices and when they do so. It also talks about the market maker measured moves and how they use the tact to trade against the retail traders, who don't what is happening to the market; enter and exit their positions also against the retail traders.

• Language: English
• Publisher: Lulu.com
• Release date: Dec 21, 2020
• ISBN: 9781716310041

Book preview

THE MARKET.

THE MAKERS OF THE MARKET.

THE RETAIL SIDE OF THE MARKET.

THE RIGHT TRADING MINDSET.

RESPONSIBILITY.

Chris Mwangi Maina

BOOTCAMP FX

THE INTERNATIONAL FOREX MARKET

THE INTERNATIONAL FOREX MARKET

The International Forex Market

‘’FOLLOW CLOSELY WHAT THE MARKET MAKER DOES’’

Polite disclaimer.

‘’This handbook does not provide investment, or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. Investing involves risk including the possible loss of principal.’’

‘’……. Letting the universe know what you want and working towards it but at the same time letting go of how it will come to pass’’.

‘’THE THREAD OF PAIN GENERATES FEAR, AND FEAR IS THE ROOT CAUSE OF NEARLY 95% OF ALL ERRORS YOU ARE LIKELY TO MAKE, NOT JUST IN THE MARKET, BUT ALSO IN LIFE.’’

To successfully use the market maker module, you need to begin to understand the motivations and tools that the MM has. The sole goal of the MM is to make a profit. The only tools at its disposal relate to manipulating the price.

Price is a reflection of the number of transactions and the price paid for these transactions. A large number of transactions is required to shift the price.

MM’s can move price at will; retail traders do not. So, for a retail trader to be truly successful, they need to at least have a concept of this process so that they understand what is happening and why. Even better, to be able to identify the patterns and strategies that MM’s use to play the game and to the ‘piggyback’ with them rather than attempt to trade against them.

Once you realize that price is moved as a result of deliberate, logical decisions the idea that price is a product of the emotional feeling of the various traders involved or sentiment is misguided. Retail traders then are left to react to the prices that they see, many of whom react emotionally. Learning and using this material, involves changing the way you think about the market and it will be necessary to do the homework, essential to learn to spot the patterns. You won’t be able to see them setting up if you can’t see them in hindsight. Even after you are proficient, it will still be worthwhile going through setups on historical data to ‘keep your eye in’.

This short handbook is a review of the international FX market, the main players' moves, mind-boggling trickery, and the simplicity of the FX game.

On the purchase of this book, the reader is expected to have a clue of what the FX market is and can read charts that display in front of their screens. What’s important even after completing this handbook, the reader is expected to have a winning mindset to tackle every new situation in the market.

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TABLE OF CONTENTS

The module itself.

The time axis.

Quarter clusters of the FX markets.

The importance of the Asian session.

The London session.

The New York session.

The 33 trade.

High and Low of the day.

Session highs and lows.

Entries.

Putting it together.

Appendix.

Trading is not easy and involves a lot of risks, but with this information, you’ll get to the market with confidence and sheer knowledge of entry and exit positions.

THE MODULE ITSELF

I’ll go