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

FAQs

Which is the best forex trading book for beginners? ›

  • "Currency Trading for Dummies" by Paul Mladjenovic, Kathleen Brooks, and Brian Dolan. "Currency Trading for Dummies" is one of the best of the lot for beginners. ...
  • "Day Trading and Swing Trading the Currency Market" by Kathy Lien. ...
  • "Japanese Candlestick Charting Techniques" by Steve Nison.

What is the number one rule in forex trading? ›

Expectations should be based on your strategy, risk management, and market conditions. A critical aspect of Forex day trading is maintaining a positive risk-reward ratio. This means that for every trade, your potential reward should outweigh your potential risk. A common ratio is 2:1 or higher.

What should a beginner trade in forex? ›

So it's no surprise the US dollar is evident in many of the 'majors' (major currency pairs), which make up 75% of all forex market trades. As a beginner, it may be wise to trade the majors, as they're known to be the most liquid and least volatile of the currency pairs.

How to trade forex with little money? ›

Utilizing Leverage

Leverage is a powerful tool that can enable you to trade forex with no money. Leverage allows you to control a larger position in the market with a smaller amount of capital. However, it's important to exercise caution when using leverage, as it amplifies both gains and losses.

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.

Which forex is best for beginners? ›

For beginners, some recommended Forex trading platforms include MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. These platforms are user-friendly and offer a range of educational resources. Additionally, they provide demo accounts for practice.

Is $100 enough to start forex? ›

Many brokers offer micro and nano lot sizes, which allow traders to risk a minimal amount per trade. By starting with smaller positions and reinvesting profits, a $100 account can slowly but steadily increase in size. Selecting a reputable forex broker is crucial, regardless of the initial investment.

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

Why Do You Need 25k To Day Trade? The $25k requirement for day trading is a rule set by FINRA. It's designed to protect investors from the risks of day trading. By requiring a minimum equity of $25k, FINRA ensures that investors have enough capital to absorb potential losses.

Can I learn forex on my own? ›

Yes, you can learn forex trading on your own, and Ava Academy's free online courses provide a valuable starting point.

Can I start forex with $5? ›

It is possible to begin Forex trading with as little as $10 and, in certain cases, even less. Brokers require $1,000 minimum account balance requirements. Some are available for as little as $5.

How much cash do you need to trade forex? ›

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.

Can I start forex without any money? ›

So, as a participant, you can start trading on Forex without any investment. In case of a demo account, you should increase your profit for a certain amount on your account within a certain period of time and finally, you will receive a bonus on your real account.

Can I learn forex by reading books? ›

The most effective way to learn how to trade safely and successfully is by reading books on trading. Many people who want to become traders start trading with the basic knowledge they have gathered within a few months, but they do not have a clear idea of what is happening in the market.

What is the best way to learn to trade forex? ›

Practice with a demo account: Many forex platforms provide the ability to paper trade before you put skin in the game. This is a time to ensure you've locked down all the mechanics of trading and test your strategies. It's better to find your mistakes by practicing than when your money is on the line.

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