From the Inside Flap
In recent years, traders have turned to the foreign exchange market expecting to capture substantial profits. While the high availability of leverage within this arena can improve your chances of making money, ultimately the success of your endeavors depends upon how well you understand and operate within this market. Nobody knows this better than author Ed Ponsi. As a professional trader and leading educator of traders, Ponsi has developed a proven approach to trading today's forex market, and now, with Forex Patterns and Probabilities, he wants to share it with you.
While most books on trading deal with general concepts and shy away from specifics, Forex Patterns and Probabilities provides you with real-world strategies and a rare sense of clarity about the specific mechanics of currency trading that will allow you to take advantage of both trending and range-bound markets.
Written in a straightforward and accessible style, Forex Patterns and Probabilities will help you make the most of your time in this market. You'll be introduced to a variety of elements that are essential to forex trading success and discover the best ways to enter, exit, and manage trades. Dozens of chart examples and explanations will guide you each step of the way and allow you to "look over the shoulder" of a professional trader hard at work at his craft.
Divided into four comprehensive parts, this detailed guide:
Explains the playing field of the forex market, using powerful metaphors that relate trading scenarios to situations in everyday life
Outlines several specific trading strategiesincluding the FX-Ed Trend Techniquedesigned for trending markets
Delves into a variety of non-trending trading techniquesfrom the volatility-based Squeeze Play to the hedge fundinspired Interest Rate Edgewhich are all based on unique market tendencies
Offers an insider's view on how to emulate the behavioral patterns of successful professional tradersand how to escape the mindset of the amateur
And much more
Today's forex market contains some of the most profitable trading opportunities in the world. With the practical strategies and trading methodologies found in Forex Patterns and Probabilities you can uncover these opportunities and achieve long-term financial success along the way.
From the Back Cover
Praise for Forex PATTERNS & PROBABILITIES
"Ed has the experience, he has the knowledge, and he has the ability to wrap it all up into one of the most useful and insightful books on trading that I've read. You're going to be a better trader with the help of this book."
Rob Booker, independent currency trader, and author of Adventures of a Currency Trader
"This book is a must-read for any equities trader who is trying to learn the ins and outs of the forex markets. Ed has the rare gift among traders and educators to take complex trading theories and break them down into interesting and easy-to-digest trading concepts. I have personally had the benefit of studying live with Ed, and I found this book a great review of my live courses with him and now use it as my main forex reference book in my trading library. Ed you truly are the rock star of the FX markets. Well done!"
Michael J. Di Gioia, cofounder, the Results-Driven Financial Network
"Forex Patterns and Probabilities is one of the best practical forex trading books I have read, and I have read a good many forex books! Ed thoroughly teaches those areas that cause most difficulty for new traders, from economic fundamentals to technical trading to the psychological aspects that are so important but ignored by so many new to trading. Peppered throughout with anecdotes from the trading and non-trading world, Ed's easygoing, homespun style gets his message across very effectively. This work is destined to become essential reading for both new and established traders."
George Hallmey, Director, www.Clickevents.com
"Ed Ponsi is a complete teacher! Forex Patterns and Probabilities covers it all for forex and trading in general. This book will teach you the foundations, the tactics, the pitfalls, and the 'real' world of forex. As Director of Education for the Online Trading Academy, I understand the importance of education and trading knowledge. . . Forex Patterns and Probabilities, while focused on forex, allows the reader to see the nuances of trading in generalfundamental, technical, psychological, plan management, and a strong, healthy dose of risk management and discipline."
Mike McMahon, Director of Education, Online Trading Academy