Forex_Learn_Book.pdf

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ROYALFOREX

FOREX

STUDY BOOK FOR SUCCESSFUL FOREIGN EXCHANGE

DEALING

Los Angeles, California

2001

Contents

1.Common knowledge about the trading on Forex

1.1. Forex as a aart af the global financial market

Brief data about the Forex rise and development.

The factors caused Foreign Exchange Volume Growth on Forex (Exchange Rate Volatility,

Business Internationalization, Increasing of Traders’ Sophistication, Developments in

Telecommunications, Computer And Programming Development).

The role of the U.S. Federal Reserve System and central banks of other G-7 countries on

Forex.

1.2. Risks by the trading on Forex

1.3. Forex sectors

Spot Market

Forward Market

Futures Market

Currency Options

2. Major currencies and trade systems

2.1. Major currencies

The U.S. Dollar

The Euro

The Japanese Yen

The British Pound

The Swiss Franc

2.2. Trade systems on Forex

Trading with brokers

Direct dealing

3. Fundamental analysis by trading on Forex

3.1 Theories of exchange rate determination

Theory of Elasticities

Modern monetary theories on exchange rate volatility

3.2. Indicators for the fundamental analysis

Economic indicators

The Gross National Product

The Gross Domestic Product

Consumption Spending

Investment Spending

Government Spending

Net Trading

Industrial sector indicators

Purchasing Power Parity

Industrial Production

Capacity Utilization

Factory Orders

Durable Goods Orders

Business Inventories

Construction Data

Inflation Indicators

Producer Price Index

Consumer Price Index

Gross National Product Implicit Deflator

Gross Domestic Product Implicit Deflator

Commodity Research Bureau’s Futures Index

The Journal of Commerce Industrial Price

Balance of Payments

Merchandise Trade Balance

The U.S. – Japan Merchandise Trade Balance

Employment Indicators

Employment Cost Index

Consumer Spending Indicators

Retail Sales

Consumer Sentiment

Auto Sales

Leading Indicators

Personal Income

3.3. Forex dependence on financial and sociopolitical factors

The Role of Financial Factors

Political Crises Influence

4. Technical analysis

4.1. The destination and fundamentals of technical analysis

Theory of Dow

Percent measures of prices reverse

4.2. Charts for the technical analysis

Kinds of prices and time units

Kinds of charts

Line Chart

Bar Chart

Candlestick Chart

4.3. Trends, Support and Resistance lines

4.4. Trend Reversal patterns

Trend Line and Trade Channel

Lines of Support and Resistance

Head-and-Shoulders

Inverted Head-and-Shoulders

Double Top

Double Bottom

Triple Top

Triple Bottom

Round Top, Round Bottom, Saucer, Inverted Saucer

4.5. Trend Continuation patterns

Flags

Pennants

Triangles

Wedges

Rectangles

4.6. Gaps

Common Gaps

Breakaway Gaps

Runaway Gaps

Exhaustion Gaps

4.7. Mathematical trading methods ( Technical indicators)

Moving Averages

Envelops

Ballinger Bands

Average True Range

Median Price

Oscillators

Commodity Channel Index

Directional Movement Index

Stochastics

Moving Average Convergence-Divergence (MACD)

Momentum

The Relative Strength Index (RSI)

Rate of Change (ROC)

Larry Williams’s %R

Indicators combination

Ichimoku Indicator

5. Fibonacci constants and Elliott waves theory

5.1. Fibonacci constants

5.2. Elliott wave theory

References

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