ABOUT THE WEBSITEPlease check www.wiley.com/go/17strategies for more examples of the strategies found in the next five chapters. Refer to the About the Website page at the end of this book for more information.
This part is divided into five chapters. Each chapter covers strategies for the five profiles of scalper, day trader, swing trader, position trader, and mechanical trader.
Chapter 6 covers two strategies for scalpers, called the rapid fire and the piranha. These strategies are used on the lowest time frames, namely the minute chart and the 5-minute chart.
Chapter 7 covers four strategies for day traders. The first two strategies are focused on breakouts while the next two are centered purely on trading the news. A unique way of trading the news, called the Rule of 20, is also discussed here. All four strategies are employed using the 15-minute and 30-minute time frame.
Chapter 8 covers five strategies for swing traders. As swing traders typically exit their positions within two to five days, the time frames used for the strategies are longer than the day traders. Hence, all five of the swing trading strategies are used on the hourly and the 4-hourly time frame.
Chapter 9 covers three strategies for position traders. The first one, swap and fly, takes advantage of interest rate differentials between the currencies and aims to earn maximum returns by holding on to positions for an extended period of time. The next two strategies are used specifically for the two most popular commodities in the world: oil and gold.
Chapter 10 covers three strategies for mechanical traders. Traders in this category are oblivious to the passing of time. This is why all strategies discussed here employ three different time frames from the other categories: the 5-minute chart, the 15-minute chart, and the daily chart.
ABOUT THE WEBSITE