Forex Patterns and Probabilities

Title: Forex Patterns and Probabilities
Author: Ed Ponsi
Synopsis: 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.

Technical analysis of the currency market

Title: Technical Analysis of the Currency Market
Author: Boris Schlossberg, Fundamental Analyst at Forex Capital Markets
Synopsis: Global currency markets combine unparalleled leverage, high short-term volatility, low execution costs, and significant long-term trends in an atmosphere of laissez-faire .

The FX Bootcamp Guide

Title: The FX Bootcamp Guide to Strategic and Tactical Forex Trading
Author: Wayne McDonell
Synopsis: This book shows readers how to successfully trade the Forex market on their own. FX Bootcamp's Guide to Strategic and Tactical Forex Trading skillfully explains how to combine popular technical indicators to formulate a comprehensive market strategy .

The Essentials of Trading

Title: The Essentials of Trading, from the basics to building a winning strategy.
Author: John Forman, Managing Analyst & Chief Trader for Anduril Analytics
Synopsis: The financial markets can be a daunting place for someone just getting started. There are so many things you.

Millionaire Traders

Title: Millionaire Traders: The Book
Authors: Kathy Lien & Boris Schlossberg
Synopsis: Everyday, millions of people turn on their computers and try to earn a living in the financial markets. Some are successful, most fail, but the possibility of hitting it big never deters them from trying

How it works...

How much precious time do you spend watching the Forex market trying to identify the right price to BUY or SELL?

Instead, why not have our professional forex trading team monitor 8 currency pairs, 24 hours a day. When it’s time to trade we will flash the identified BUY or SELL trade opportunity to the powerful 4XFindMe Forex Signal software on your computer.

CFTC RULE 4.41

"CFTC RULE 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown".

So there you have it - the track record is simply made up knowing the closing prices and vendors do this hoping the gullible trader will swallow it and they do time and time again.

Of course we can all make money knowing what happened - but trading is a little more difficult than that, we have to trade not knowing the closing prices.

So why don't forex scalping systems work?

Its obvious, we have millions of traders all with a different point of view, methods and skills and trying to decide what this mass will do in a few hours is doomed to failure. Humans are not logical and in short time spans they can and do, drive prices anywhere.

This means that if you have a forex trading system that is trying to take advantage of short term moves, you cant use support and resistance (volatility can and does take prices anywhere) and you can't get the odds in your favor.

To be frank you could toss a coin instead and your results could be as good!

Of course if you still don't believe me ask yourself this question:

If forex scalping worked then why doesn't the vendor have the confidence to trade himself and give you a real long term track record of gains?

If you have read and understood the above you know the answer - forex scalping systems simply don't work.