Book description
Inside a unique system that allows you to identify and trade key turning points in the forex market
The financial markets are in a constant state of affirming, breaking, and developing new support and resistance areas. Traders use a variety of methods to project support and resistance points based on past price action. However, the question of whether those areas will hold or break in real time is a much more difficult calculation. In The RDS Forex System, former pit trader Michael Radkay provides forex traders with a unique system for identifying support and resistance zones in the foreign currency market and developing profitable trading strategies around those zones.
The system uses market volatility, momentum, and chart patterns to calculate support and resistance zones. As prices reach a specific zone objective, trading strategies are put in place to profit from the next movement. The book will show how this system gives traders a continuous sense of the market's directional bias, identifies potential turning points, and recommends levels to take profits off the table.
Highlights the Rotating Directional System (RDS), a computer-based, longer-term application of the methodology used by many successful pit traders
Discusses how to use a variety of indicators to identify support and resistance areas
Reveals strategies employed to profit from market swings
The RDS Forex System is an ideal guide for retail traders actively involved in the forex market.
Table of contents
- Cover Page
- Title Page
- Copyright
- Dedication
- Contents
- Preface
- Acknowledgments
- Chapter 1: Introduction to Today's Forex Market
- Chapter 2: Comparing Forex to Other Markets
- Chapter 3: Finding the New Edge
- Chapter 4: The Long and Short of Fundamental Analysis
- Chapter 5: Price Never Lies
- Chapter 6: Play at Peak Times
- Chapter 7: Preparing for Known Events
-
Chapter 8: Risk Tolerance and Developing a Feel for Price Movement
- THE TRADING FOOTBALL FIELD
- THE LIGHT BULB WENT OFF IN 1992
- YARDS VERSUS LEVELS
- TWO TYPES OF TRADERS
- RISK
- THE OLD DAYS
- TODAY
- PERSONAL RISK TOLERANCE
- INTRODUCING THE RDS RISK CALCULATOR
- USING THE RDS RISK CALCULATOR
- THE WAY MIKE LEARNED FUTURES
- NO VACATION FROM DISCIPLINE
- FIVE KEYS TO SUCCESS
- WRAPPING IT UP
- Chapter 9: Why Technical Analysis Works
- Chapter 10: Defining the Rotating Directional System
-
Chapter 11: Putting It All Together
- MOMENTUM SIDE TIMING
- MARKET PROFILE—RANGE BOUND OR TRENDING
- TEAMMATES AND OPPONENTS
- A THREE-STEP PROCESS: ENTRY, PROFIT, AND STOP LOSS
- LEVELS REVEAL THE ANGRY TELL
- BUY/SELL LOCATION AND TEAMMATE MOOD
- ONE GRENADE WILL GET YOU ALL
- WHAT SIDE SHOULD I TRUST? BREAKOUTS VERSUS COUNTER
- TRADING THROUGH A BREAK OR WHILE YOU SLEEP
- FIVE-SPEED TRANSMISSIONS
- PRE-SESSION PREPARATION
- ADJUSTING THE HOMEWORK RULE
- WEATHERING ONE STORM
- PRICE EVALUATION: SLOPE OF STAND-OUT TOPS/BOTTOMS
- Chapter 12: Evaluating Your Performance
- Resources
- About the Authors
- Index
Product information
- Title: The RDS Forex System: A Breakthrough Method To Profiting from Market Turning Points
- Author(s):
- Release date: March 2012
- Publisher(s): Wiley
- ISBN: 9781118096680
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