Currency Trading For Dummies

Currency Trading For Dummies

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Your plain-English guide to currency trading Currency Trading For Dummies is a hands-on, user-friendly guide that explains how the foreign exchange (ForEx) market works and how you can become a part of it. Currency trading has many benefits, but it also has fast-changing financial-trading avenues. ForEx markets are always moving. So how do you keep up? With this new edition of Currency Trading For Dummies, you'll get the expert guidance you've come to know and expect from the trusted For Dummies brand now updated with the latest information on the topic. Inside, you'll find an easy-to-follow introduction to the global/ForEx market that explains its size, scope, and players; a look at the major economic drivers that influence currency values; and the lowdown on how to interpret data and events like a pro. Plus, you'll discover different types of trading styles and make a concrete strategy and game plan before you act on anything.
* Covers currency trading conventions and tools * Provides an insider's look at key characteristics of successful currency traders * Explains why it's important to be organized and prepared * Offers guidance on trading pitfalls to avoid and risk management rules to live by Whether you're just getting started out in the foreign exchange market or an experienced trader looking to diversify your portfolio, Currency Trading For Dummies sets you up for trading success.
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Product details

  • Paperback | 384 pages
  • 189 x 236 x 19mm | 514g
  • New York, United States
  • English
  • 3rd Edition
  • 1118989805
  • 9781118989807
  • 23,587

Back cover copy

Learn to: Understand how the market works Research the global forex markets Apply mobile and platform trading solutions Use tips and hints from professionals

Understand the foreign exchange market and benefit from it!

The forex market is fast, exciting, and potentially lucrative -- if you know what you're doing. This hands-on, user-friendly guide shows you how the foreign exchange market works, who the players are, what influences currency values, how to interpret data and events, and what you need to know to develop a winning strategy. Read carefully before investing! Understand how it works -- if you're new to currency trading, here's a plain-English explanation of how the forex market works, what moves it, and what newcomers need to know Things to think about -- find out how your investment objectives, experience level, and risk appetite must be considered Tools of the trade -- see how to find sources of data and market intelligence, take advantage of the latest technology, and use technical analysis to spot trade opportunities Read the market -- learn to interpret economic data and official statements and gauge market psychology, sentiment, and positioning Make a game plan -- get expert guidance on developing a structured strategy and a disciplined approach to currency trading

Open the book and find: Differences between the forex market and the stock market Pros and cons of currency trading Essential secrets of success Best ways to manage your exposure The latest SEC rules and tax laws Tips on doing research Risk management rules to live by Key characteristics of successful currency traders
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Table of contents

Introduction 1 Part I: Getting Started with Currency Trading 5 Chapter 1: Currency Trading 101 7 Chapter 2: What Is the Forex Market? 17 Chapter 3: Who Trades Currencies? Meet the Players 33 Chapter 4: The Mechanics of Currency Trading 47 Part II: Driving Forces behind Currencies 71 Chapter 5: Looking at the Big Picture 73 Chapter 6: Understanding and Applying Market News and Information 99 Chapter 7: Getting Down and Dirty with Fundamental Data 115 Chapter 8: Getting to Know the Major Currency Pairs 139 Chapter 9: Minor Currency Pairs and Cross-Currency Trading 163 Part III: Developing a Trading Plan 179 Chapter 10: Training and Preparing for Battle 181 Chapter 11: Cutting the Fog with Technical Analysis 201 Chapter 12: Identifying Trade Opportunities 229 Chapter 13: Risk-Management Considerations 249 Part IV: Executing a Trading Plan 267 Chapter 14: Pulling the Trigger 269 Chapter 15: Managing the Trade 283 Chapter 16: Closing the Position and Evaluating Your Results 295 Part V: The Part of Tens 305 Chapter 17: Ten Habits of Successful Currency Traders 307 Chapter 18: Ten Rules of Risk Management 313 Chapter 19: Ten Great Resources 317 Appendix: Trading Strategies 321 Index 343
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About Kathleen Brooks

Kathleen Brooks is research director at She produces research on G10 and emerging-market currencies, providing her clients with actionable trading ideas. Brian Dolanhas more than 20 years of experience in the currency market and is a frequent commentator for major news media.
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312 ratings
3.67 out of 5 stars
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4 31% (96)
3 25% (77)
2 13% (40)
1 4% (11)
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