Courtney smith. Courtney Smith - How to consistently make money on the FOREX market. Trading systems described in the book

Reviews about the book:

Advantages: The author's systematic approach, everything is taken into account: psychology, analysis, algorithms for entering, exiting, SL ... Disadvantages: The main disadvantage is that all these advantages (algorithms, etc.) are JUST FUCKED TRASH! They do not work! Take my word for it. Well, or do the same that I did: re-read and disassemble the book several times, write down all the algorithms so that they are at hand, learn them and put them into practice. Trade from half a year to about zero (negligible profit or loss in the end) and make sure that the place for such talents is in the trash. People, believe me, this is clearly structured, but nonetheless GARBAGE! This book has no practical value. YOU WILL NOT BE ABLE TO EARN BY THESE METHODS (and this is the MAIN criterion!). As far as psychology is concerned, this is probably valuable material. But be honest with yourself: you are not buying a humanitarian book! And, yes, Alpina is, as already said, a bunch ... They did their job disgustingly! Commentary: I suppose the word "earn" in the title of the book should be replaced with "trade to zero" - it will be much more honest.

I went to write a review, but Oleg wrote everything before me. The translation of chapters on trading techniques is below any criticism. You will also have to look for a book in the original language. A question to Alpina: and gentlemen, proofreaders and editors are simply prescribed, they do not look through books and do not reread them? About the book: risk management, trade organization, work on mistakes and the psychology of trading are described very interestingly, but trading strategies completely spoiled by the translation.

Denis Akaemov 0

Courtney Smith's book is worth reading, but the translation of this edition is disgusting. The textual description in individual chapters not only raises questions, for it is illogical, but also directly contradicts the graphs to which it refers. At first I sinned on the author's inarticulateness, but when I got to the section on using slingshot, I finally could not resist and found the original in English on the Internet, after which the text made sense. Let's turn to specifics. For example, here's the description from page 159: "The main low must be at least two bars lower than the previous one." This is complete nonsense, leading to a stupor when trying to reconcile graphics and text and understand what Courtney Smith had in mind. We look at the original: "This key low must be at least a two-bar swing low", i.e. "The major minimum must be at least a two-bar minimum." Well, everything fell into place, this interpretation already corresponds to the schedule and the terminology introduced by Courtney Smith at the beginning of the book, since two- and one-bar highs and lows, 41-bar high, 10 -bar low) was discussed in the chapter "What is a trend?" Let's go further. We look at the phrase two paragraphs below on the same 159th page: "The first is that the slingshot high must be at least three bars from a previous higher bar", i.e. "First, the slingshot high must be at least three bars from the previous high." We read in Alpina's translation masterpiece: "First, it must be at least three bars above the last high." Dear, where did you get this from ?! Where did this "three bars higher" come from ?! Is it really difficult to look into the schedule? Everything is drawn there, especially for those who do not understand the text! And below in the text this principle is explained in more detail, it was only necessary to include logic. In general, a complete translation mess, and so on in several chapters. Ruined the book. The impression that several translators were poring over it, and one of them clearly did not like trading and did not look into either the illustrative part or the results of the work of his colleagues.

Yanke Oleg Vladimirovich 0

It is interesting that not only the trading processes themselves with their characteristics, features and other things are affected, but also great attention is paid to the psychology of the person playing. For everyone, everything is tied to personal feelings, you want to call it intuition - whatever you like. But intuition, in my opinion, is part of psychology. So Smith is great at laying out the psychology of successful trading.

Kalganov Maxim Viktorovich 0

Courtney Smith is very smart and a great leader. This is felt from the very first lines, when he actually puts forward an ultimatum: either you trust me how to proceed and do not deviate from my recommendations, or you can shut this book and throw it in the trash. But damn it, shut it up and throw it somewhere. Everything, you are already at the mercy of the author. Liked it without exaggeration - everything. There are not just trading techniques developed by the author, there are also new strategies and systems invented by players before Smith and modified by him. This is where risk management got involved. In short - there is everything that a trader's heart desires.

Snezhny Vladimir 0

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This article is for those who are just entering the world of Forex. I recommend that you study a special introduction before starting trading on the currency exchange.

How to make money on Forex steadily

In the field of stock exchange business there is, of course, a place for luck and luck. However, in order to become a successful trader, you cannot rely on these components alone! To know exactly how you can make money quickly in the forex market, you need to go through some training. This is what we will consider in a close-up.

Psychological preparation is a factor that will help you make money in the forex market

Beginners should be aware that there are a number of factors that positively or negatively affect the trader in the trading process. Change something, but something is not in his power. There is a fairly broad concept of "Forex psychology". This structure considers, among other things, the dependence of success on the trader's mood. The most important factor in Forex trading is security. It follows from this that without knowledge of the fundamentals of the psychology of safe trading on the exchange, it is hardly possible to become an advanced and, accordingly, a successful trader.
Take 100% success in stock trading. More than 50% of success is a precise psychological attitude, including resistance to stressful moments and prolonged stress, readiness for instant decision-making, and other factors.

Approximately 40% of success is knowledge of the basics of money management and money management, the ability to follow the Forex strategy. Well, we'll give the rest of the interest to luck!

How to act in order to make stable money on Forex

It is very important to be able to understand in time why there is a dependence of success and the size of profit on foreign exchange transactions from the psychology and inner state of a trader?

The right strategy helps to really make money in the forex market

With error-free capital management inside his own account, a private trader, even with minimal knowledge, risking only a small lot, is quite able to close about half of all with a plus. That is why money management allows you not to lose your deposit on Forex.

Fear and greed prevent you from making money on Forex steadily

When the trader found profitable strategy trading, thoroughly tested and decided for himself that the strategy he chose is the best, he can make transactions with the minimum acceptable risks and without fear of receiving serious losses. This increases the trader's self-confidence, which allows him to increase the percentage of profitable trades.

But, if the trader is not let go of fear, if he is afraid of entering the market, fears of incurring losses, fears to close a profitable or unprofitable deal at the wrong time, then his affairs can be said to be bad. The percentage of profitable trades will fall. Fear is the number one enemy of the currency exchange.

But, there is another hidden enemy - greed. How is it expressed? For example, due to the desire to get as much as possible at once, the trader does not have time to close the deal, and it may end up unprofitable.

Discipline is important for a forex trader

Professional traders treat Forex as a business. And, since this is a business, then not only should the trader expect profit, he should be ready to bear the costs and suffer losses.

Look at business in the real world. A business can only become profitable when there is discipline and constant monitoring. Is a business, and therefore it requires a serious attitude towards itself.

To consistently make money on forex, you need to control emotions

A negative factor influencing the general course of a trader's work is a negative attitude towards the business he is doing. If a trader is sure that he will not succeed, all profitable trades will pass by, and he will not receive profit. The ability to keep your emotions under control plus discipline is the key to success and the ability to earn consistently at forex. The trader must work confidently and calmly.

The consistency of trading really allows you to make money on Forex

Let's figure out what the consistency of trading on the Forex exchange is. A novice trader should not prioritize purely mercantile interest. He should not think too much: he will earn on the deal, or lose. Seeing a good combination, confirmed by Forex signals, he can risk 5% of the deposit. If there is no profit from the transaction, then, having received a profit from the next transaction, he will close his losses. This is the consistency of trade. By sticking to the right strategy, the trader usually wins.

For specialists, trading is a business and a routine job. He opens and closes trades, analyzes charts, determines the points of his entry and exit from trades. He does all this on the basis of l

How to consistently make money on fOREX market Courtney Smith

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Title: How to consistently make money on the FOREX market

About the book "How to make stable money on the FOREX market" by Courtney Smith

Professional, clear, systematic and accessible. This is how you can characterize the book of Courtney Smith - an experienced trader who went through the school of work in large investment banks, has extensive experience in individual trading and, importantly, teaching experience. Many of the approaches proposed by the author are not a new development, but they have been modified taking into account the current state of the market and built into an integral system, which allows you to achieve consistently good results in trading. In addition to techniques for market analysis and trading, the book pays serious attention to the psychological aspects of work and risk management.

The book is structured in such a way that it will be useful to both novice traders and experienced specialists, and in fact is a comprehensive textbook on all aspects of Forex trading.

On our website about books lifeinbooks.net you can download for free without registration or read online book “How to make stable money in the FOREX market” Courtney Smith in epub, fb2, txt, rtf, pdf formats for iPad, iPhone, Android and Kindle. The book will give you a lot of pleasant moments and real pleasure from reading. You can buy the full version from our partner. Also, here you will find last news from the literary world, learn the biography of your favorite authors. There is a separate section for aspiring writers with useful tips and recommendations, interesting articles, thanks to which you yourself can try your hand at literary skills.

Professional, clear, systematic and accessible. This is how you can characterize the book by Courtney Smith - an experienced trader who went through the school of working in large investment banks, has extensive experience in individual trading and, importantly, teaching experience. Many of the approaches proposed by the author are not a new development, but they have been modified taking into account the current state of the market and built into an integral system, which allows you to achieve consistently good results in trading. In addition to techniques for market analysis and trading, the book pays serious attention to the psychological aspects of work and risk management. The book is structured in such a way that it will be useful to both novice traders and experienced specialists, and in fact is a comprehensive textbook on all aspects of Forex trading.

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The given introductory fragment of the book How to consistently make money on the FOREX market (Courtney Smith, 2012) provided by our book partner - the company Liters.

Short review content

I have compiled this book in such a way that it would be useful for everyone who wants to make money trading on FOREX - from beginner to professional.

The book contains everything a beginner needs to know before starting to trade. At the same time, experienced traders will find here valuable information about systems and trading methods, primarily some of my suggestions for improvement classical methods... In addition, you will find in the book sections on the psychology of trading and risk management, the study of which can significantly increase the profitability of your operations.

Chapter 1 in in general terms gives you the basics that you must master before you start trading FOREX. Perhaps you already have experience with stocks, shares or even futures. But I am assuming that you do not know anything about FOREX trading. I also included in the book several real cases from my own practice in order to somehow show all the delights of the life of a professional institutional trader. Even if you have some FOREX trading experience, this chapter is worth reading if only for examples.

In Chapter 2, we will begin to examine the methods of making money on foreign exchange market... I will talk about trend analysis, a technique similar to what is called the 123 indicator. However, I added something to it so that you can more accurately determine which trends start and which fade. In addition, this is the first time I am telling such a wide audience about the Bishop technique. This unique indicator has tremendous practice to exit trades at highs and lows. It signals infrequently, but you should be extremely careful when it does. I close all mine open positionswhenever you see a Bishop signal to sell or buy, it is so convincing.

I will also tell you about a new way to filter deals. This filter cuts about half the number of my losing trades and, at the same time, only five percent - profitable ones. Profitable exchange! This dramatically increases the benefits of trend analysis and other techniques.

Chapter 3 is devoted to price channel breakouts. This classic technique has been around since the 1960s. And the secret of such a long use lies in its performance. In my estimation, most traders of the largest and most profitable forex hedge funds use variations of this technique. And I will tell you about a few of its major improvements that can significantly increase profitability.

The first improvement is the principle of immediate gratification. It is the main one and will show you how to learn to better understand the market, how to trade more profitably and, finally, how to increase your income.

I'll also talk about the clipping rule. This improvement cuts at least half the risk of trading during price channel breakouts, while retaining all the potential for profit. Basically, we are talking about controlling the situation with a breakout, and if it does not develop in any way, then the position should be closed immediately. In addition, it reduces psychological stress when trading during price channel breakouts. The clipping rule concept can be applied to other trading methods as well. You don't want to ignore this idea.

Then I'll talk about another exit strategy called the "last bar". I picked it up from a top-notch trader, Peter Brandt. It allows you to minimize the risk on any trade, which, as you might guess, at the end of the year will lead to a significant increase in profits.

In Chapter 4, I'll tell you about the Conqueror, a unique trading system that was originally proposed by legendary trader-analyst Bruce Babcock, then improved by top-notch systems analyst Nelson Friborg, and finally modified by me. This system monitors the market in three different time frames and does not enter the market until all three have confirmed that it should be done. Another characteristic and characteristic, as far as I know, only of this method, is that the exit technique is different from the entry technique.

Conqueror is a technique that takes no rush to market. When entering a trade, it requires all conditions to be perfect and closes the position at the slightest hint of weakness. I love this system and I think you will love it too!

Chapter 5 explains how to take advantage of stochastic lines. Everyone seems to be using stochastic lines - arguably the most popular indicator on the chart. But everyone uses them wrong... In this chapter, you will learn how you can use stochastic oscillators to your advantage, bypassing the common pitfalls that drain your account. I'll show you how I use them to identify short-term reversal points and, more importantly, significant reversal points.

As a bonus, I've included an amazing interview with George Lane, who coined the concept of "stochastic oscillators." I was lucky, I managed to interview him before he left this world. In this great interview, he talks about how he invented stochastic oscillators, why they got that name, and most importantly, how George himself used them in his own trades. He literally states that when correct use "There are practically no mistakes"! This interview is priceless.

Another unique feature of this book is that I will show you various profitable techniques that you can use on different time horizons. The techniques discussed here analyze what is going on in the market over a period of several days or several weeks. Chapter 6 introduces several techniques for a much shorter time frame. They are designed to keep the position open for less than one day. Pattern recognition technologies like these are a great option for those traders who want to make money in a day, not a week or a month. I take pleasure in the thought that such trades bring good profits every day. Of course, we are not talking about fabulous profits, since it is impossible to get excess profits during the day. But getting a handful of money as a result of one-day deals is also not bad.

This chapter also introduces multipart tactics in which positions are taken on multiple contracts to make exiting a trade more flexible. This tactic strengthens the psychology of the trader and significantly increases the size of his profit.

You will not be able to manage your profits until you learn to control the risks to your account. Otherwise, you will be doomed to losses. 90% of FOREX traders lose money and only about 5% earn. I'm sure one of the biggest differences between winners and losers is that winners know how to manage risk.

Chapter 7 goes into detail on this very important question and clear instructions are given on how to manage risk to ensure that operations are profitable. I'll even go a little deeper into the topic of risk management and show how to use risk management for attack, not just defense. However, few in the marketplace use risk management to maximize profits. This is a very important chapter because you must be able to handle inevitable streaks of failure without losing too much money, and you must be able to maintain the right mental state. You cannot find yourself in the utmost difficult situation how in financial planand from a psychological point of view.

Chapter 8 introduces a new technique called Slingshot or mini-Slingshot (Slingshot or Mini-Slingshot). Here I will also continue my discussion of the topic of risk management. This chapter is also interesting because it introduces the reader to the unique concepts that are based on the ideas of risk management discussed in the previous chapter.

I believe that risk management is the second most important factor in investment success. Chapter 9 examines the biggest obstacle to making money in various markets. it you personally... Your psychology. You are the biggest problem. Intellect is of little use here. The methods that I talk about in the book will come to the rescue, thanks to them you are unlikely to experience any difficulties. The basic rules of risk management are just as easily applicable. But trading psychology is a very complex subject and few can master it. I wish you great success; and the use of psychology is a real way to make money in the market. Please don't ignore it or push it aside.

In the book, I talk about a lot of different techniques. But you won't be able to make money using them if you don't behave accordingly. For example, what is the use of profitable methods if you lack the self-discipline to conduct daily trades? You will fail. You must be able to apply these techniques, otherwise they are useless.

I am a big proponent of stress-free trading. Why should I trade if it constantly bothers me? I can make money, but I shouldn't trade if I'm under tremendous stress. Life is too short. Once again, we need to understand the psychology of trading.

This chapter focuses on the reasons why people trade. No, not just to make money. I also analyze the reasons why people lose money and show how to eliminate these reasons. It may not be so interesting to deal with your own psychology, but this is the most important component of success in trading.

Chapter 10 will show you how all of these techniques work together. By that time, I will already tell you about a large number of powerful techniques that allow you to make money trading on FOREX. This chapter will also show you how they all constitute a comprehensive profit-making program. Each technique has its own purpose, which is different from other techniques. As a result, the combination of techniques is much more interesting than each technique separately. Once again, this is a completely unique approach. Most books talk about techniques but do not offer a unifying structure.

After reading this book, you should have a concrete and comprehensive understanding of how to make money trading FOREX. You will have a whole range of useful techniques in your arsenal. You will learn how to manage your risks and how to trade stress-free. Good luck!

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Professional, clear, systematic and accessible. This is how you can characterize the book by Courtney Smith - an experienced trader who went through the school of working in large investment banks, has extensive experience in individual trading and, importantly, teaching experience. Many of the approaches proposed by the author are not a new development, but they are modified taking into account the current state of the market and built into an integral system, which allows you to achieve consistently good results in trading. In addition to techniques for market analysis and trading, the book pays serious attention to the psychological aspects of work and risk management.

The book is structured in such a way that it will be useful to both novice traders and experienced specialists, and in fact is a comprehensive textbook on all aspects of Forex trading.

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