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Ketty Lin. Day trading on the Forex market. Millionaire traders and many others

Private investment was finally able to appear on the international foreign exchange market, thanks to the very rapid development of electronic technologies with the advent of the new millennium. The most active interaction of the world's leading trading platforms with electronic trading systems began in the late nineties of the last century. This led to an incredible increase in capital turnover and liquidity in the international foreign exchange market. When private traders finally appeared on the foreign exchange market, its regular participants, called institutional traders, already had a history of several decades in their baggage.

And the Forex market itself has long become an inseparable part of the system of international financial exchanges. And as recounted in Ketti Lin's book Day Trading in the Forex Market, at that time no one denied, and no one could do so, that trading in the foreign exchange market had evolved from a separate type of trading into a unique philosophy or even an original decision-making strategy. It, so to speak, has become a separate branch of improving analytical skills.

Author's opinion about the Forex market

Forex trading has been different from other types since the very first days of its existence. It had significant common member credit capacity and high profitability potential. And, as you know, in any case it is accompanied by certain risks. The author of the book, Ketti Lin, “Day Trading in the Forex Market,” says that a private trader should always understand that in order to take advantage of all the opportunities of the foreign exchange market, serious preparation is necessary. Only by thoroughly studying the basics of analytical art does a trader have the opportunity to take risks on himself without fear. And such risks always accompany various trading operations on Forex.

However, such risk is often rewarded with significant profits from successful transactions. This is what makes this type of activity as attractive as possible. In its descriptions of the benefits of such activities, Ketti Lin's book "Day Trading in the Forex Market" is of a general educational nature. In its content, the meaning of the concept of “trading” is revealed comprehensively and completely. And it doesn’t matter whether it’s trading on the stock, foreign exchange or futures market.

Why Ketti Lin's book "Day Trading in the Forex Market" is useful

This work by a well-known author should provide significant assistance in learning the very basics of currency trading. The reader will be able to fully familiarize himself with the research of a direct witness to the period when private capital poured into the international currency exchange. And this is of particular importance, such a large change in the volume of trade transactions could not go unnoticed and not introduce some changes into the structure of the very essence of the market. The reader gets a unique opportunity not only to study the history of Forex, but also to see the origins of its formation and modern trends in the development of this market.

The author of the book “Day Trading in the Forex Market,” Ketty Lin, analyzes such trends using the example of recent years. The relevance of this work particularly distinguishes the research and materials contained in it from those that were done previously. The thing is that in recent years the foreign exchange market has undergone very significant changes and fresh facts are needed to study it in detail. The author devoted most of the chapters of this book to the main points of fundamental and technical analysis. Such work will be useful not only to interested people, but also to those who want to connect their lives with trading in this market.

Together with Boris Schlossberg, Lien runs the BKForex Advisor project, one of the few investment selection agencies that concentrates entirely on foreign stock exchanges.


Kathy Lien is a stock analyst and director of currency analysis at FX360.com and GFTForex.com. Author of a number of world-famous books on stock trading, in particular "Day Trading and Swing Trading the Currency Market: Technical and Fundamental Strategies to Profit form Market Swings", "Millionaire Traders: How Everyday People Are Beating Wall Street at Its Own Game" and "High Probability Trading Setups for the Currency Market E-Book". Together with Boris Schlossberg, Lien manages the BKForex Advisor project, one of the few investment selection agencies focused on

com and exclusively on a foreign stock exchange.

As Director of Currency Analysis, Katie is responsible for research and analysis of international currency market trends for Global Forex Trading. However, Lien is a trader first and an analyst second; this, however, does not prevent her from conducting fairly fundamental research into the current state of the market. Katie has extensive interbank trading experience, having previously worked as the lead strategist for DailyFX.com before GFT. She also had the opportunity to work outside of a foreign stock exchange - Lien is no stranger to complex transactions.

we over collateral investments, futures contracts and debt obligations.

Katie is one of the main contributors to Investopedia's Forex education section; in general, she writes for a number of sites of a similar focus - Tradingmarkets.com, Asia Times Online, Stocks & Commodities Magazine, MarketWatch, ActiveTrader Magazine, Currency Trader, Futures Magazine and SFO. In her field, Lien is rightfully considered one of the leading authorities - she is quoted by such venerable publications as Bloomberg, Reuters, The Wall Street Journal and the International Herald Tribune; Katie had a chance to perform

air on CNN, CNBC, CBS and Bloomberg Radio; she appeared on several episodes of "Wall Street Warriors" and ran trader chats on EliteTrader, eSignal and FXStreet, eagerly sharing her knowledge of both technical and fundamental analysis.

Lien is often asked how she was able to achieve such results at such a young age? Well, she got off to a good start from the very beginning - for example, Katie graduated from New York University School of Business at eighteen, in 1999. Subsequently, Lien did not slow down her pace even for a moment - the result is visible to the naked eye

In all the variety of books and training manuals devoted to trading in financial markets, it is sometimes difficult to find a truly worthwhile book that would deal with trading methods and strategies suitable for the international Forex currency market. The book “Day Trading on the Forex Market” is one of those publications that allows you to immerse yourself as deeply as possible into the processes of trading currency pairs and into the specifics of financial analysis that must be applied in the foreign exchange market.

Ketty Lin, a recognized expert in Forex trading, is the managing director of the financial services company. Over the course of her career, she has written several books about working in the financial markets, as well as about people who are successful in trading.

The book “Day Trading in the Forex Market” deals with the practical use of classical trading strategies. In addition, Ketty Lin pays great attention to the fundamental impact of news flows and various events on changes in national currency rates. A skillful combination of two tactics - technical and fundamental, according to the concept of the author of the book, will allow a trader to achieve the greatest success in trading on the Forex currency market.

The book “Day Trading in the Forex Market” can be divided into three parts. The first section - chapters 1 to 4 - introduces the reader to general issues and factors of the Forex currency market: the history of the formation of this exchange platform, participants in the foreign exchange market and their behavior patterns, long-term and short-term factors of the foreign exchange market, such as fundamental and technical analysis, and also with interesting principles of short-term, local influences on price changes in Forex.

The second section of the book - chapters 5 to 8 - deals with issues of technical analysis and short-term trading strategies that can be successfully applied in the foreign exchange market. Ketty Lin in her work relies not only on classic psychological strategies (Trading against “double zeros”, “Inside day” and “False breakout”), which can be successfully applied if you are an experienced trader, but also talks in the book about modern trading methods based on indicator analysis, and systematic decision-making (using filters when entering the market, such as the ADX indicator, etc.).

The third section of the book “Day Trading in the Forex Market” is devoted to the fundamental features of currency pairs (Ketty Lin goes into detail about all the major currencies of the Forex market, indicating the fundamental and psychological features that you need to pay attention to when trading), as well as trading strategies based on fundamental data and the release of fundamental news (“Risk Reversal”, “Intervention”). For the most complete information, this section lacks data on the technical features of the behavior of a particular currency pair, however, it is more advisable for each reader to determine this information independently, due to the fact that the individual use of trading strategies leaves an imprint on one’s own observations regarding the behavior of Forex market assets.

The book “Day Trading in the Forex Market” will be of interest to novice traders who would like to receive more information regarding the areas of day trading in the foreign exchange market and the principles of forming trading systems. However, for experienced traders and technical analysts, this book may seem too “simple”, since the classical principles of trading discussed in the book do not provide the opportunity to study the current price formations currently encountered in the foreign exchange market.

Hello, dear readers of the financial and investment portal “site”! If you want to trade profitably on the currency exchange, then you should know the information where you can see Forex market forecasts from successful traders. Find out about the five most accurate sources from this review.

At the moment, there are a huge number of sites on the Internet with forecasts and analytics of the stock and Forex currency markets. Most of them write reviews and articles only to promote and optimize their resource in search engines, to attract additional traffic to their site.

In reality, there are few quality and useful sites that offer accurate . Let's look at such resources below.

1. Investment portal from Fusion Media Limited (Investing.com)

This site is one of the leaders in accurate forecasts on the Forex market. In the analytics and forecasts section of this site, the best analysts and traders of top banks and brokerage companies in the world write their recommendations and forecasts.

Well-known analysts are:

  1. John Hardy from Saxo Bank.
  2. Katie Lien of BK Asset Management.
  3. Artyom Geliy from Forex4you.
  4. Dmitry Nemeshaev AS-Center.

Often the opinions of these analysts may differ. Therefore, in such cases it is better to refrain from their advice.

2. Financial portal of Pro Finance Service, Inc. (www.forexpf.ru)

This financial site, in addition to analytics and forecasts on the Forex market, also offers the opportunity to open a personal trading account with Pro Finance Service, Inc.

3. Analytics from brokerage companies

In addition to investment and financial portals with Forex forecasts, such forecasts are posted by .

Brokers with the most accurate exchange rate forecasts:

It is important to understand that the analyst does not bear any responsibility for his forecast in the financial market. It is possible that analysts generally opened the deal according to their forecast.

Is it possible to make money on Forex using forecasts and analytics?

Such earnings are certainly possible! But using other people’s forecasts and analytics without their own perception and interpretation of them, a trader will not be able to independently develop and become a trader. With the constant perception and use of analysts' points of view, the trader's own analytical thinking is lost over time.

It is recommended to use third-party forecasts on the Forex market only to verify your own vision of the situation when opening trade transactions on the stock exchange. After all, only in this way will a trader begin to personally understand and feel the market. And this will ultimately lead him to success and professionalism in the foreign exchange or

Hi all. While watching another training video on trading, the author mentioned the book Ketty Lin, entitled Traders are millionaires | How to Beat Wall Street Pros at Their Own Field. I really like to read, and here is also a recommendation, so I couldn’t resist downloading the book on the Internet and started reading.

I must say that the book is read, as they say, in one breath. No, this is not educational material, it does not talk about grails, nor does it describe trading strategies; it tells more, namely how completely ordinary people became traders. What did they have to go through? How were they trained? And many many others. In other words, this book can be called: a collection of interviews.

ATTENTION!!!
To activate the link to download the book, you need to log in to the site in the upper right corner.

As I wrote above, the book is written in an interview style. The author asks 11 different people how they started their journey in trading, asks about the difficulties that await them, and tries to find out the nuances of trading systems.

In my opinion, the information offered will be of interest to absolutely any contingent. The author also interviewed rich people who started their journey already having $10,000, $20,000 and $50,000; and the relatively poor, who barely had enough to live on, but managed to earn $1,000 for the first deposit.

On the Rob Booker trade

Really enjoyed the interview with Rob Booker. He talks about the psychological side of his trading and the loss of concentration in the event of huge weekly earnings. In this regard, he took drastic measures; as soon as earnings reach 50 - 100 pp per week, Rob stops trading until next week.

This is a very interesting approach and I understand it, since I myself experience the same feelings and came to similar conclusions a long time ago. Please note that he does not make financial plans, he needs points. Only 50 - 100 points per week and he is happy, but what lots are behind these points is a different question.

The next interesting person is Hussein Harneker. His approach is highly respected. Hussein knew firsthand how difficult it is to get money. He had to save money for about 8 months to reach $1,000, with which he began trading.

For this reason, Hussein was very careful with money and did not want to lose it. Unlike many traders who claim: “You can learn to trade on a real account,” Hussein says: “Before switching to a real account, double your demo account 3 times in a row.”

Everything ingenious is simple, if you can’t make money on a demo account, where the emotions are completely different, then why suddenly start making money on a real one? So, many newbies should listen to this wisdom.

The Golden Rule from Indy Jones

I liked Indy Jones with his statement:

The market will forgive you a lot, including unsuccessful, even stupid transactions, but it will not forgive the loss of capital.

And it’s true, we got a stop, a second one, but we are in the game and we have a chance to change everything. In the event of a complete loss of capital, we have no chance to change anything, for this reason the trader must be more careful with money.

Indy's tip: Always place stops.

Money management by Paul Willett

And finally, so that you will no longer have any doubts about whether to read the book or not, I’ll tell you about Paul Willett. His approach is used by many professional traders, and I have heard about this strategy more than once, but Paul perfectly and thoroughly describes how by partially closing your positions, you can increase your capital significantly.

And many others

I won’t list all the characters in the book, I don’t want to kill the intrigue. Let you be left with a note of understatement. As for me, I want to buy this book in paper form and put it on my shelf.

I repeat, there are no grails in this book, no fantastic strategies, but there is more in it, it talks about life situations, which sometimes helps much more and directs you to the true path.

  • Acknowledgments
  • Preface
  • CHAPTER 1. THE ART OF GAMING ON THE EXCHANGE
  • CHAPTER 2. THE ONE WHO BUYS FOR A PRICELESS
  • Dana "Dan" Allen
  • CHAPTER 3. 100 POINTS AND NOT A POINT MORE
  • Rob Booker
  • CHAPTER 4. FROM POVERTY TO RICH
  • Hussein Harnecker
  • CHAPTER 5. THE WISDOM OF EXPERIENCE
  • Frankie Jloy
  • CHAPTER 6. IN SEARCH OF HIDDEN TREASURES
  • Indy Jones
  • CHAPTER 7. NEWS EATER
  • Roland Campbell
  • CHAPTER 8. ADAPT TO CHANGE
  • Tyrone Ball
  • CHAPTER 9. RIDING THE WAVE OF PROFIT
  • Ashkan Bolur
  • CHAPTER 10. TRADING THE AMERICAN STYLE
  • Paul Willett
  • CHAPTER 11. FOREX AND FAMILY VALUES
  • Marcelino Livian
  • CHAPTER 12. MAN VS MACHINE
  • Stephen Ikow
  • CHAPTER 13. WHERE TO START

That's probably all. Whether to take my advice or not is a purely personal matter, no one has the right to impose anything on anyone, but if you download and read the book, be kind enough to leave your review on this page, so to speak, for the future generation.

Until next time. Good luck to all of us in trading.