Forex Trader Mentoring

Certain assumptions are made throughout this book regarding the expertise of my readers. Possibly these assumptions are too optimistic. Nevertheless, I will assume that, since you have purchased a book on day trading, you have already acquired some degree of sophistication and knowledge about the futures markets.

I will, therefore, dispense with basic definitions in many cases, assuming that you are already familiar with the standard trading terminology. From time to time, however, I may choose to insult your intelligence by explaining simple concepts, knowing full well that you already have developed your own understanding of them.

My purpose in doing so is to rectify what I feel is, at times, an erroneous understanding of these concepts. In addition, I may wish to redefine some terms within the day-trading context.

Of all systems available to traders in the futures and stock markets, the vast majority are based on moving averages, or on a variation of the moving average theme. Moving averages are not difficult to understand, relatively simple to apply, and frequently quite easy to calculate.

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