Diary of a Currency Trader

by Samuel J.Rae

“Diary of a currency trader” is an easy to follow journal which reveals the daily operations of a currency trader. Samuel J. Rae reveals his trading approach through a step-by-step, well-illustrated description of the strategy he uses and the principles that underlie his method. After describing his trading method, Samuel then guides the reader through ninety days of trading, with full explanations as to how and why he enters each trade, the results he achieves and his thoughts on the markets he operates in. Without any emotional biases, he explains the reasons for his wins and losses.  

This book is for everyone interested in discovering an easily applicable trading method, based on candle patterns and strict risk management rules. 

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Although Samuel’s approach is simple and clear, this is not a beginner’s guide to foreign exchange or a how-to manual that will tell you to follow a definite strategy. Before reading this book, you should have a basic knowledge of the foreign exchange markets, chart patterns and candles. Readers will also find interesting information about the history of currencies and important risk management rules.

Using many market examples, real charts and detailed explanations, Samuel reveals his trading plan, trading strategy and favorite setups. He also pays significant attention to the mental skills that every trader must develop in order to be successful and describes valuable risk management principles, such as how to set stop loss and take profit levels and how to assess the potential risk/reward ratio of every trade.

In the following interview Samuel J.Rae gives FX Trader Magazine more details about his trading strategy, his views on the current challenges of Forex trading and the performance of his trading method since the publication of the book.