Forex Trading QuickStart Guide - by Troy Noonan (Hardcover) (2024)

About the Book

In Forex Trading QuickStart Guide, author and veteran trader Troy Noonan outlines the exact path that new forex traders should take.

Book Synopsis

THE ULTIMATE BEGINNER'S GUIDE TO FOREX TRADING - INCLUDES A COMPREHENSIVE ONLINE LIBRARY OF TRADING DIGITAL TOOLS!

The ONLY Forex Trading Book Complete With a Library of FREE Digital Trading Tools Including the Author's Own Trade Analyzer and a Powerful Trading Indicator

Billions of dollars are moving through the forex market every hour. Are you ready to start trading?

Foreign exchange traders capitalize on exposure to the largest financial market in the world. Foreign currency markets run around the clock, and with little more needed than an internet connection, popular currency pairs can be traded from anywhere on the globe.

With high liquidity, a decentralized marketplace, and commission-free trading across the board, foreign exchange trading is a powerful tool for anyone who wants to take control of their own financial success story.

In Forex Trading QuickStart Guide, author and veteran trader Troy Noonan draws on his decades-long career spent in the trenches of the foreign currency markets to outline the exact path that new forex traders should take.

The book presents insights distilled from thousands of trades on the global forex markets, including guidance on technical and fundamental analysis, interpreting charts, and mastering the psychology of successful forex traders.

Wild trading successes, the lessons learned from painful failures, and the resulting forex trading fundamentals that Troy has imparted to thousands of trading students are on full display in this book. It doesn't matter if you are an experienced trader who is new to the foreign currency asset class or a complete novice just getting started-this book will demystify the international foreign currency market and put you firmly on the path to success!

Forex Trading QuickStart Guide Is Perfect For:

  • Complete beginners - even if you've never placed a forex trade before!
  • People who tried trading foreign currency in the past but didn't find success because of complicated courses or phony forex "gurus"
  • Existing forex traders who want to hone their skills & increase their earning potential
  • Anyone who wants the freedom of making full-time income with part-time effort!

Forex Trading QuickStart Guide Explains:

  • The Inner Workings of the Foreign Exchange Market
  • Currency pairs - How to Spot Opportunities and Execute Winning Trades
  • How to Back Test and Validate your Trade Plans to Minimize Trading Risk*

You Will Learn:

  • The Mechanics of the Foreign Currency Markets - How to Analyze Popular Currency Pairs, How to Identify Good Entry Points, and How to Interpret the Geopolitical Factors Others Miss
  • Technical and Fundamental Analysis - How to Interpret the Language of the Markets and Know When to Hold On to Your Money, How to Spot Warning Signs and the Signals That Tell Pro Traders When to Make a Move
  • The Psychology of Trading Forex - The Often Discounted But Essential Mindset Changes That Bring Pro Traders to the Head of the Pack
  • How to Pick a Broker - What Essential Features to Look For in a World-Class Broker, How to Read the Charts They Provide, How to Interpret Chart Patterns, and More!

*LIFETIME ACCESS TO FREE FOREX TRADING DIGITAL ASSETS*

Forex Trading QuickStart Guide comes with lifetime access to a library of exclusive tools and videos designed to help you get started quickly and become a better trader faster.

Review Quotes

5 out of 5

"Forex Trading QuickStart Guide is an insightful introduction to trading currencies on the world's largest financial market.

Troy Noonan's comprehensive guidebook Forex Trading QuickStart Guide teaches methods for trading currency on the global foreign exchange market.

Geared toward beginning Forex traders, but sophisticated enough for more seasoned investors, the book covers proven techniques for day trading currencies. It also breaks down the mechanics of how the markets work. It serves as an in-depth reference to tapping into decentralized global markets that run around the clock, and for doing so with just an internet connection. Forex trading, the book says, confers one the freedom to work anywhere, as Noonan did in café while backpacking around Europe.

Focused on practical tips, as with how to find a good broker or what lot size to select, the book's insights were gleaned from decades of trading experience. It covers technical skills, such as data interpretation, price chart reading, and analysis, furnishing a solid foundation to build upon. It explains in great detail how foreign currency exchanges work, where opportunities to invest emerge, and how to spot them, instructing audiences on how to capitalize on the market while minimizing their risks.

There are also notes on reading geopolitical situations, understanding debt ratings, discerning chart patterns, and executing successful trades. The parlance of traders and the psychology of trading are covered, too, so that audiences can be confident when engaging the market. And the prose is clear, with esoteric terminology properly contextualized: terms like pip, bid-ask spread, exotic pair, and average directional index are all explained well. The book remains engaging while going over technical subjects by addressing the audience in a direct way. And graphics are used to further illustrate the ideas being discussed, as with a chart that breaks down the inevitability of financial losses with repeat trades.

The book is organized into chapters by subject, making it a handy reference. Its chapters are crammed with information that's broken into digestible subsections. Chapter overviews lay out what to expect; summaries follow each chapter, too, highlighting their main takeaways with bullet point lists.

The book builds to a conclusion that outlines the twelve powers of trading, explicating principles to empower traders to gain a statistical edge or know when to quit. The concepts are spelled out in a brief enough fashion to pique interest in the next installment of the series. A brief paean to Forex trading extols financial freedom and the challenge of trading, rounding out this thorough work.

Forex Trading QuickStart Guide is an insightful introduction to trading currencies on the world's largest financial market, guiding audiences through tapping into a liquid asset class to realize their financial goals."

Reviewed by Joseph S. Pete

Foreword Clarion Reviews


Forex Trading QuickStart Guide - by  Troy Noonan (Hardcover) (2024)

FAQs

What is the best timeframe to trade forex for beginners? ›

Medium-term time frames, such as the 4-hour and daily charts, are often favored by beginners. These time frames strike a balance between providing enough trading opportunities and allowing for a broader perspective on market trends.

What is the easiest forex strategy for beginners? ›

Here are the top 10 easy trading strategies for beginners:
  1. Moving Averages (MA) ...
  2. Relative Strength Index (RSI) ...
  3. Simple Moving Average (SMA) ...
  4. Support and Resistance Levels. ...
  5. Trendline Trading. ...
  6. Flags and Pennants. ...
  7. Exponential Moving Average (EMA) ...
  8. Closing Price Breakouts.
Feb 2, 2024

Is $500 enough to trade forex? ›

This forex trading style is ideal for people who dislike looking at their charts frequently and who can only trade in their free time. The very lowest you can open an account with is $500 if you wish to initiate a trade with a risk of 50 pips since you can risk $5 per trade, which is 1% of $500.

Is $1000 enough to start forex? ›

In conclusion, $1000 is enough to start trading Forex. However, it's important to have a realistic trading plan and manage your risk carefully. A $1000 Forex trading plan should include setting trading goals, determining risk tolerance, and choosing a suitable trading strategy.

Is $100 enough to start forex? ›

Overall, while it is possible to start trading forex with just $100, it is important for traders to approach it with caution and to have a solid understanding of the market and their own risk tolerance.

What is the trick to forex trading? ›

The basic key questions you should ask yourself are: a) is there a trend? (yes/no); b) if there's a sideways trend – do nothing, with an upwards trend – look to buy, and with a downward trend – look to sell; d) look for support and resistance areas and then decide whether to place a trade.

How much money do I need to start forex trading? ›

Answer - You can start trading with as little as $10 or invest more, like $100, $1,000, or even $15,000. Higher investments can potentially lead to higher profits in forex. However, it often requires substantial investments to achieve significant gains.

What is the hardest month to trade forex? ›

While the summer period (June-August) is speculated to show the least returns for many markets across Europe, August is said to be the worst month to trade. The reason for this is that most institutional investors in Europe and North America go on holiday.

How many times a day should I trade forex? ›

One common question that many traders have is, "How many trades should I do in a day in forex?" The answer to this question is not one-size-fits-all, as the ideal number of trades can vary based on your trading style, experience, risk tolerance, and market conditions.

Do you need $25,000 to day trade forex? ›

This rule, set by FINRA, states that any trader who executes four or more day trades within a five-day period is considered a pattern day trader (PDT). PDTs must maintain a minimum equity of $25,000 in their margin account at all times.

What is the 5-3-1 rule in forex? ›

Clear guidelines: The 5-3-1 strategy provides clear and straightforward guidelines for traders. The principles of choosing five currency pairs, developing three trading strategies, and selecting one specific time of day offer a structured approach, reducing ambiguity and enhancing decision-making.

What is the 5-3-1 forex strategy? ›

The 5-3-1 strategy is especially helpful for new traders who may be overwhelmed by the dozens of currency pairs available and the 24-7 nature of the market. The numbers five, three, and one stand for: Five currency pairs to learn and trade. Three strategies to become an expert on and use with your trades.

How long does it take for a beginner to learn forex? ›

The amount of time it takes to master forex trading on your own will vary depending on your dedication and commitment to learning. Some traders may be able to grasp the basics within a few weeks, while others may take several months or even years to become consistently profitable.

Which books should I read for forex trading? ›

Top 5 Books Every Forex Trader Should Read
  • Forex Trading: The Basics Explained in Simple Terms, by Jim Brown. ...
  • Day Trading and Swing Trading the Currency Market, by Kathy Lien. ...
  • Currency Trading for Dummies, by Brian Dolan. ...
  • Market Wizards: Interviews with Top Traders, by Jack D.
Apr 22, 2023

How do I get started in Forex book? ›

“How to Get Started in Forex” serves as your go-to resource, offering insights into market dynamics, risk management techniques, and practical trading strategies. We demystify technical jargon and provide practical examples to ensure a smooth learning experience.

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