Making Money in Forex: Trade Like a Pro Without Giving Up Your Day Job (Ryan O'Keefe, 2010)

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General notes

  • Always use stop loss.
  • Avoid overtrading.
  • Think of risk in terms of percent loss, not pips.
  • Control risk through position sizing.
  • Keep risk consistent for every trade.
  • Do not trail stop too closely.
  • Focus on trades with a good risk-to-reward ratio.
  • Know when to take a break.
Indicators

  • Commodities Channel Index (CCI)
    • Line reverse down on 100 = sell
    • Line reverse up on 0 = buy
Major events and affecting currencies

  • ADP employment survey
    • USD
  • Balance of goods and services (Trade balance)
    • USD, EUR, GBP, JPY, AUD, NZD, CHF, CAD
  • Central bank rate statements
    • USD, EUR, GBP, JPY, AUD, NZD, CHF, CAD
  • Consumer confidence
    • USD, GBP, CHF
  • Consumer consumption
    • USD, CHF
  • Consumer price index (CPI)
    • USD, EUR, GBP, NZD, CHF, CAD
  • Durable goods orders
    • USD, JPY
  • Employment change
    • USD, AUD, NZD, CAD
  • Gross domestic product (GDP)
    • USD, EUR, GBP, JPY, AUD, NZD, CHF, CAD
  • IFO business climate survey
    • EUR
  • ISM manufacturing
    • USD
  • KOF economic barometer
    • CHF
  • M3 money supply
    • EUR
  • Producer price index (PPI)
    • USD, EUR, GBP, AUD, NZD
  • Retail sales
    • USD, EUR, GBP, JPY, AUD, NZD, CHF, CAD
  • Treasury inflow capital
    • USD, CAD
  • Tankan survey
    • JPY
  • U.K. housing starts
    • GBP
  • Unemployment rates
    • USD, GBP, AUD, NZD, CHF, CAD
  • ZEW economic sentiment
    • EUR, CHF

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