Forex Range Trading with Price Action – Forex Trading System by Laurentiu Damir is a concise and practical guide specifically designed for those interested in range trading within the forex market. Damir, an experienced forex trader, simplifies the concept of range trading and presents it in an accessible and easy-to-understand format.
The book begins by introducing the readers to range trading and price action, two essential elements in Damir’s trading system. Range trading is a strategy that involves buying and selling within specific price ranges, while price action refers to the movement of a security’s price plotted over time.
Damir then moves onto the core of his range trading system. He thoroughly explains how to identify periods of price consolidation, which form trading ranges, and how to trade within these ranges using price action. The author illustrates how to spot support and resistance levels, interpret price patterns, and execute trades at optimal points within the range.
One unique feature of this book is its simplicity and focus. Damir doesn’t delve into complicated technical indicators or analysis tools. Instead, he focuses on price action and raw chart analysis. This simplicity makes the book an excellent resource for beginners, while still providing value for more experienced traders looking to refine their approach.
Risk management is another critical topic covered by Damir. He emphasizes the importance of setting appropriate stop losses and profit targets, as well as maintaining a favorable risk to reward ratio. By focusing on these aspects, Damir encourages traders to protect their capital and make consistent profits.
“Forex Range Trading with Price Action – Forex Trading System” also includes several real-life trading examples. These examples not only help to reinforce the strategies and concepts discussed but also provide readers with a clear picture of what range trading looks like in practice.
In summary, Laurentiu Damir’s book offers a clear, straightforward approach to forex range trading. Its emphasis on price action, simplicity, and risk management, coupled with real-life trading examples, makes it an invaluable resource for any forex trader looking to explore range trading.