Beat the odds in forex trading – igor toshchakov. introduction


Introduction
I
Believe an aspiring trader who applies the principles of this book will
Save two or three years of practical education in the real market and at
Least $20,000 of investment capital.
Over the period of time that I have been dealing with speculative cur-
Rency trade, I was lucky enough to have an opportunity not only to accu-
Mulate significant personal experience, but also to observe the work of
Several hundred independent traders. In addition, I have more than a
Decade of experience in teaching the theory and practice of currency trad-
Ing to individual investors. I have also been studying the experience of
Other traders personally, via books and other publications as well as
Through participating in discussions at various professional seminars and
Forums, and have corresponded with traders/colleagues from many coun-
Tries around the world. This additional experience has allowed me to con-
Duct my own comprehensive research on problems that all serious traders
Run into during their professional careers. I have also been able to gather
Extensive material that has served as the initial base for this course and
That I have used to create my own trading method. Although nothing ideal
Exists in nature, I believe my method of trading deserves some serious
Consideration by those who chose speculative currency trading as a pro-
Fession or just as a source of additional income.
I would like to start the introduction to this book by mentioning that
My own experience as a FOREX speculative trader, and the experience of
My respected colleagues whom I have met personally or through publica-
Tions, has shown that the problems all individual traders have to deal with
Are virtually the same. However, the number of solutions to the problems
Is almost the same as the number of traders themselves. Over time, practi-
Cal results can range from complete triumph to complete desperation. For
Each participant, this business starts with a variation of a famous line from
Shakespeare’s Hamlet: “To be a trader or not to be.” Is it worth risking
Money, time and sometimes even a career built in another profession, in
Order to reach success in a new field? If you join this market, how do you
Enter into that desirable 5 to 7 percent of participants who statistically

/> Flast. qxd 7/7/06 10:38 AM Page viisucceed? How do you reach success so that the money, time, and energy
Invested into this business will not only be justified but will also bring you
Significant dividends? Each participant should be able to answer these
Questions personally; my task is more modest. For those who have already
Made the choice in favor of “to be,” I offer my version of the secret about
How to beat the odds and win the market game. I truly believe this book
Will allow novice traders to save a good deal of time and money that oth-
Erwise would be wasted by following the traditional trial-and-error
Method of learning from their own mistakes before gaining the necessary
Experience.



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Beat the odds in forex trading – igor toshchakov. introduction