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The FX Bootcamp Guide to Strategic and Tactical Forex Trading


Praise for The FX Bootcamp's GUIDE TO Strategic and Tactical Forex Trading

"Wayne McDonell is the most popular Forex speaker on our Web site. His live training and educational events draw large crowds of traders because he can explain complex Forex trading concepts in a common language that anyone can understand. This book does the same. I highly recommend it."
—Francesc Riverola, CEO of

"If you're looking for specific strategies and methods for making money with currency trading, you need to start reading this book today. Wayne knows from experience what it takes to succeed in the Forex markets. He provides step-by-step instructions and explains in common language what to look for in charts and in the news to find profitable trades immediately. Don't make a single Forex trade until you've read this book!"
—Tim Bourquin, founder of The Forex Trading Expo

With The FX Bootcamp's Guide to Strategic and Tactical Forex Trading, McDonell shares his invaluable experience as a Forex trader and commodities trading advisor with you. Filled with in-depth insights and practical advice, this straightforward guide will teach you how to think for yourself and trade successfully—relying on your own technical, fundamental, and even psychological analysis. First, you'll become familiar with the indicators—from moving averages to price support and resistance—that form the foundation of the trading methodologies discussed in the book. Then, you'll discover how to put together a trading plan, and trade that plan for maximum profits. Along the way, McDonell also takes the time to discuss the various challenges you may face while trading Forex and explains how treating your trading operations like a business can improve overall performance.

If you want to be a successful Forex trader, you must have a firm understanding of how the global market works and how to trade it. With The FX Bootcamp's Guide to Strategic and Tactical Forex Trading, you'll quickly learn how to gather intelligence, formulate a strategy, and confidently pull the trading trigger.

WAYNE McDONELL is the Chief Currency Coach of FX Bootcamp (, a live Forex training organization. He is a professional Forex trader, a member of the National Futures Association, and a registered Commodities Trading Advisor. Respected in the Forex industry as a successful trainer, McDonell is a regular speaker at major investing conferences and expos in Asia, Europe, and America. His videos are syndicated around the world on outlets including Forex Television,,, and MSN. His live trading Webinars have attracted up to 1,000 traders each. McDonell has written "how-to" articles for investing magazines, such as Your Trading Edge and the FOREX Journal magazine. He has also received notoriety in the National Post, TechWeek, Interactive Week, and Inc. magazine to name a few.


Which Do You Do?

PART ONE: Basic Training.

CHAPTER 1: Lagging Indicators.

Moving Averages.

Moving Average Convergence Divergence (MACD).

Bollinger Bands.

Standard Deviation.


CHAPTER 2: Leading Indicators.

Price Support and Resistance.

Fibonacci Retracements.

Fibonacci Extensions.


Part One Summary.

PART TWO: Strategic Analysis.

CHAPTER 3: How to Gather Market Intelligence to Formulate a Trading Strategy.

Spy Plane View.

Inflation Sensation.

Central Banking.

Inflation Targeting.

Cost of Money.

Money Magnets.

Interested in Valuation.

Foreign Exchange.

Demanding Consequences.

House of Cards.

Not Interested.


CHAPTER 4: The Carry Trade.

Free House.

Scary Carry.

Power Yen.


CHAPTER 5: Forex and the Fed.

Forex Economics.

The Federal Reserve System.


CHAPTER 6: Commodity Correlations.

Commodity Correlation: Oil.

Commodity Correlation: Gold.

Commodity Correlation: Equities.

Trading Commodities.


CHAPTER 7: Greenback Guru: Why You Should Specialize in Trading U.S. Dollars.

What's Your USD Bias?

Currency Correlation Coefficient.

Trading Currency Correlation.

Trading a Basket of Currencies.


Yet another Reason.


Part Two Summary.

PART THREE: Rules of Engagement.

What's the Time?

CHAPTER 8: Market Analysis.

Speed of the Market.

Momentum of Price.


CHAPTER 9: Fundamental Analysis.

Economic Announcements.

Global Money Flow.

Interest Rates and Currency Values.

Market Bias.

Announcement Calendar.


CHAPTER 10: Technical Analysis.

Self-Fulfilling Prophecy.

Range Analysis.

Trend Analysis.

Pivot Analysis.


CHAPTER 11: Risk Analysis.

Fear of Loss.

Fear of Profit.


FX Bootcamper Credo.

Limits for Loss.

Limits for Profit.

More Tactics for Trade Entry and Exits.

Your Mind's Eye.

Do Nothing.

Do You Have the Guts?

Second Chances in Forex.


Part Three: Summary

PART FOUR: Tactical Planning.

CHAPTER 12: Candlestick Patterns.

Reversal Patterns.

Reverse and Continuation Patterns.

Trending Only.


CHAPTER 13: Range Trading.

Get in the Ring.

Floors and Ceilings.

Over and Out.


CHAPTER 14: Trading the News.

Conservative News Trades.


Part Four Summary.

PART FIVE: Psychological Warfare.

CHAPTER 15: How to Cope with Pre- and Post-Trading Stress Disorders.

Going Mental.

Common Thread.

Understand Yourself, Understand Your Trades.


CHAPTER 16: Trade Journals.

3X the 4X.


CHAPTER 17: Target Practice.


CHAPTER 18: Three-Year Plan.

FX Business Planner.

Risk Management.


Part Five Summary.

CHAPTER 19: Closing Notes.

The Genesis of FX Bootcamp.

Lead by Example.

Additional Support.