Trading with Traders – Level 5 (Mastering Complex Trading Strategies) discusses and describes many forex trading strategies which are considered good or the most successful however in saying that there is not one trading strategy that stands out as being the best of them all. Probably the best strategy open to a trader is to focus on the best methods of controlling and managing your capital. The best trading platforms don’t guarantee a trader profits, it’s the trader that has to manage his capital and bring in the profits.
One of the best strategies for making money is to avoid making losses. This might sound obvious however many traders don’t do this. New traders tend to go for the big trades and risk too much of their capital on one trade. Concentrate on several small wins rather than one big one. In that way you could completely eliminate loss because you are not investing too much capital. The correct strategy is to focus on small wins and not big wins and avoid big losses. A big loss is upsetting and can cause a panic attack. You will then start to focus on winning the money back and start to take more risks, utilize more capital on bad trades until in the end you are broke.
If you take in to account the above and utilize one or two trading strategies you feel comfortable with out of the 27 advanced strategies described in this book, you will almost certainly make nice profits.
About the Author
Philip was born and educated in the United Kingdom. He joined Citibank in London before moving to Athens where he worked as a foreign exchange trader for both Citibank and Chase Manhattan. Philip was then posted to Citibank's Middle East North African Training Center in Athens/Beirut as the operations manager and a foreign exchange trainer. After returning to the United Kingdom Philip joined Union Bank of Switzerland as the Head of Learning and Development and introduced trading simulations as a safe way for new traders to trade. In 1993 he was appointed Head of Learning and Education for UBS in North America. He later left the bank and went into partnership with two colleagues and set up a successful financial training company (New Learning Developments) in New York City. At New Learning Developments he developed relationships with all the major investment banks such as Goldman, Lehman, JP Morgan, and other major financial institutions such as The Federal Reserve Bank, Chase, Citibank, ABN-AMRO and the World Bank. In 2001 he returned to London where he worked as a training consultant to financial services institutions and the Ministry of Defense. He now spends his time developing knowledge databases for on-line brokerage houses and conducts webinars on foreign exchange and on-line retail trading.
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- Print Length: 82 pages
- Sold by: Amazon Digital Services, Inc.
- Language: English
- ASIN: B009SUIFJQ
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