Bridging to the Trillions Market: A Simple Guide

By Mazlan Abang

'Bridging to the Trillions Market' is about enabling new traders becoming more friendly to the lucrative currency market which then allow them to trade professionally happy without hatred and retaliation against it. The huge market offers a wide range of opportunity with of no disadvantages to others. Whether you are to gain or loss is not determined by the market nature itself but more from yourself. This is also to tell you that there are very close correlation between us and action taken in currency trading activities. Information shares will help new traders to understand better why until today higher percentage of currency traders failed. This book provides an easy step by step charting analysis with elected indicators and comparison between charts of different time frame. Through this, it brings you to see where most new traders went wrong. Throughout the book, explanations and illustrations are based on real experiences along the course of the author's venture in currency market. Interestingly, the finding help to confirmed most of the experts' commented and concerned are basically true. This is turn, would help new traders to enhance their understanding on the different aspects and variables which hopefully lead to improve trading.

• Language: English
• Publisher: Partridge Publishing Singapore
• Release date: Jul 21, 2014
• ISBN: 9781482824452

Mazlan Abang

Mazlan Abang has been in the currency market for more than twelve years. His extensive study is more on the common mistake made by the traders. He believes that failing traders can still be brought up by getting them to understand more about themselves.

Book preview

Copyright © 2014 Mazlan Abang. All rights reserved.

ISBN

978-1-4828-2444-5 (sc)

978-1-4828-2445-2 (e)

All rights reserved. No part of this book may be used or reproduced by any means, graphic, electronic, or mechanical, including photocopying, recording, taping or by any information storage retrieval system without the written permission of the publisher except in the case of brief quotations embodied in critical articles and reviews.

Because of the dynamic nature of the Internet, any web addresses or links contained in this book may have changed since publication and may no longer be valid. The views expressed in this work are solely those of the author and do not necessarily reflect the views of the publisher, and the publisher hereby disclaims any responsibility for them.

To order additional copies of this book, contact

Toll Free 800 101 2657 (Singapore)

Toll Free 1 800 81 7340 (Malaysia)

[e-mail]

www.partridgepublishing.com/singapore

07/14/2014

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Contents

About the Author

Introduction

Chapter 1: Currency Trading 101

Currency Market

Currency Trading

Basic Concepts

Short-Term Trading

Long-Term Trading

Basic Trading Knowledge

Charting

Technical Analysis

Currency Price Movement

Support and Resistance

False Signals and False Breakouts

Overbought and Oversold

Fundamental Knowledge

Chapter 2: What Makes a Trader?

Personal Management

Attitude Matters

The Psychology of Currency Trading

Chapter 3: Getting Started

Methods and Strategies for New Trtaders

Trust Your Own System

Trade in Smaller Lots

Trading Strategy Options

Step-by-Step Charting Analysis

Selected Technical Analysis Indicators

Chapter 4: Short-Term Trading Strategies

Chapter 5: Long-Term Trading Strategies

Chapter 6: The Geometry of Trades

Technical Analysis Approaches

Other System Applications

Chapter 7: Exit Stage Left

Determining Exit Points

Signals Vary in Charts of Different Time Frames

Important Points

Exercises

References

About the Author

Ever since I graduated from university, my interest in business has grown. At the age of twenty-four, I started my business career with retail businesses, and from then on, I’ve continued searching for other business opportunities, starting from those related to retailing – including wholesaling, distribution, and multi-level marketing – and then branching out to those in the stock market and later the currency market. The challenges I’ve faced in conventional businesses taught me many lessons and finally helped me choose my focus – currency trading – which I got involved with in the mid-1990s.

I had a very difficult time at the same beginning, as I had to learn everything about the currency market from the basics as I was trading. I had only the information I got from the Internet and some printed material I had bought from abroad to guide me, for there were only a handful of currency traders in my country at that time, and I knew none of them. Currency-trading brokers are still not available even today, and books or other printed materials on the subject are also very difficult to get in my country. Since then, however, my passion for the currency market hasn’t faded. I continue to study and to search for anything that can help me improve my trading.

Just like everyone else involved in this venture, I have lost money. After I put my first deposit into my account, I did not make my first withdrawal until I had been trading for more than five years. After that, it took me many years to build up a buffer of cash. With courage and desire, I was able to improve my trading by building my knowledge about charting, executing trades with confidence. It took me a long time to become comfortable setting aside my emotions when I am trading, and I still have difficulty doing so. But with continuous effort, I have become more confident, and currency trading has now become a source of income, and my years of experience with the negatives and the positives of trading have given me the knowledge to write this book, which I hope can serve as a useful guide for you.

Introduction

This book is a guide primarily for new currency traders, although it may prove helpful for anyone who wishes to get seriously involved in and earn a fortune from currency markets. This huge market offers a wide range of opportunities with few disadvantages. The currency market, also called the forex market, is a market in which foreign currencies are bought and sold, and currency trading is the act of buying and selling these currencies. This is the largest and most liquid market, with an average daily turnover of more than $3 trillion. Whether you profit or