Day Trading the Currency Market: Technical and Fundamental Strategies To Profit from Market Swings (Wiley Trading)

Book Description

Written by Kathy Lien—chief strategist for the number one online currency broker in the world—Day Trading the Currency Market reveals a variety of technical and fundamental profit-making strategies for trading the currency market, and provides a detailed look at how this market actually works. It contains actionable information and strategies, which can help you enter this highly competitive arena with confidence and exit with profits.

Download Description

""This is an extraordinary book that is many levels above other books on currency trading. It's filled with practical tips deriving from Kathy's experiences as a trader at JPMorgan and as an analyst and educator to online traders. A must-read for novice and experienced traders alike, this book will save readers a lot of money in expensive trading lessons."" --Drew Niv, Chief Executive Officer, Forex Capital Markets LLC ""I thought this was one of the best books that I had read on FX. The book should be required reading not only for traders new to the foreign exchange markets, but also for seasoned professionals. I'll definitely be keeping it on my desk for reference. ""The book is very readable and very educational. In fact, I wish that Kathy's book had been around when I had first started out in FX. It would have saved me from a lot of heartache from reading duller books, and would have saved me a lot of time from having to learn things the 'hard way'. ""I look forward to reading other books from her in the future."" --Farooq Muzammal, Head of Foreign Exchange, Europe, Refco ""Kathy's book is an indispensible tool for Forex traders, whether you are a professional or novice. It not only lays the groundwork for an in-depth understanding of Forex trading, it also contains numerous fundamental and technical strategies . . . I suspect that many traders will be keeping Kathy's book within arm's reach for many years to come."" --Eddie Kwong, Executive V.P./Editor in Chief, Tradingmarkets.com ""There are aspects to trading currencies that are different from trading equities, options, or futures. In this book Kathy Lien gives a deep insight into all the mechanisms that take place in the currency markets. Any currency trader will gain more confidence in their trading after reading this book."" --Jayanthi Gopalakrishnan, Editor, Stocks & Commodities magazine ""Kathy has done a brilliant job with this book. She speaks directly to traders and gives them guidance to improve their performance as Forex traders. I took some notes and ideas from the book myself that are going to be very useful for my business."" --Francesc Riverola, CEO, ForexStreet SL Discover a variety of technical and fundamental profit-making strategies for trading the currency market with Kathy Lien, the Chief Currency Strategist at Forex Capital Markets LLC (FXCM). Lien describes everything from time-tested technical and fundamental strategies you can use to compete with bank traders to a host of more fundamentally-oriented strategies involving intermarket relationships, interest rate differentials, option volatility, news events, and central bank intervention.

Customer Reviews:

Superficial at best..........2007-08-08

I just finished reading this book and after reading more than a dozen of books on forex and day trading I must say the book is a waste of money. Most of the topics in the book are covered superficially and the few trading strategies presented are poorly documented and contain errors.

Not so useful!.......2007-07-15

In my search for good FX trading books, I found no good book yet, and this book is no exception. This book is poorly written, has no consistent flow, and it does not lead the reader anywhere. Just few areas I found somewhat interesting like correlation between pairs, and volatility as a function of time of the day, and that is why I gave it a rating of 2. Otherwise, 1 will be enough. Someday someone may write a good FX trading book that really respects the intelligence of the reader. Not all FX retail traders are losers!

Superb resource for all active forex traders - highly recommended!.......2007-06-04

Kathy Lien has written one of the most important "must have" books for active forex traders with "Day Trading the Currency Market".

Packed with practical insights and solid trading setups, she's written a superb book that's packed with useful trading how-tos, from one of the most respected forex authorities found.

Specifically, I found her correlation tables and volatility indices very valuable, as well as her step by step explanations of how to look for both fundamental as well as technical market-moving patterns. I'm recommending her book to all my Forex traders on my forexonfire dot com site, as excellent resources to own.

Additonally, she's provided superb explanations of how the mechanics of currency trading works, and the impact of various market opens, when and how to trade various technical chart patterns, and much more.

This book, along with Boris Schlossberg's excellent "Technical Analysis of the Currency Market", are the two best forex books on the market and are highly recommended.

Good trading,

Ken Calhoun
ForexOnFire

great starter must have.......2007-05-19

great book i used it always when i first entered forex, and still do. lots of knowledge and wisdow. not to mention it teachs you some stratagies.lots of books say they show you stratagies, but few deliver. this is one of them that does. this book was recommended to me as intermediate but i think it is a must have beginners guide, worth 4 of my beginners guide books.

Close to Ideal, Casi Perfecto.......2007-01-18

A lot a very important information for beginers and medium traders.
It is very complete from the fundamental view, has a couple a trading thechniques that I guess that works in real trading.
Overall great book!.More than I expected!
To be perfect She must write down more techniques to trade.
Is not nice the advertisement that she perform a long the book, due to the fact that the "Real & Good" information that she mention is not free in fxcm.
Finally read this book definitelly made me a better trader!!!.

Un monton de informacion muy importante para Traders principiantes y medios.
Es muy completo desde el punto de vista fundamental y tiene varias tecnicas de trading que al parecer funcionan en el trading real.
En general un gran libro,Mas de lo que esperaba!
Para ser perfecto ella tendria que haber escrito mas tecnicas de trading.
No es agradable la publicidad que le hace a FXCM a lo largo de todo el libro ya que las herramientas "Buenas y reales" no son gratis en FXCM.
Finalmente leer este libro me hizo un mejor trader!!!

Saludos
Muchas gracias Lien !

Adventures of a Currency Trader: A Fable about Trading, Courage, and Doing the Right Thing (Wiley Trading)

Average customer rating:

Good Read, but only tells what can be wrong ...
Highly Recommend
A Really Good Book.
B.S. Artist
Excellent read....Highly recommended

Adventures of a Currency Trader: A Fable about Trading, Courage, and Doing the Right Thing (Wiley Trading)
Rob Booker
Manufacturer: Wiley
ProductGroup: Book
Binding: Hardcover

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The Currency Trader's Handbook
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Way of the Turtle: The Secret Methods that Turned Ordinary People into Legendary Traders

ASIN: 0470049480

Book Description

Praise for ADVENTURES of a CURRENCY TRADER

"A truly easy, unique, and enjoyable read! Rob has done it once again to teach us in the funniest way possible how not to make the most common trading mistakes. If you are tired of reading how-to books, this is perfect for you. I highly recommend this book to all traders. Everyone will learn something about themselves by reading this book."
—Kathy Lien, author, Day Trading the Currency Market, and Chief Strategist, www.dailyfx.com

"Adventures of a Currency Trader is a must read for anyone who has ever traded or is thinking about trading in the Forex markets. Rob Booker has a unique way of taking years of market knowledge and transforming it into an educational and entertaining experience. It has quickly become a cult classic in my trading library!"
—H. Jack Bouroudjian, Principal, Brewer Investment Group

"Brilliant! Rob's humor and humanity shine through in this parable about trading and life. Filled with wisdom and wit, it's an exhilarating rollercoaster ride through the peaks and valleys of the learning curve, with many valuable lessons learned along the way."
—Ed Ponsi, President, FXEducator.com

"Rob's fable of everyman 'Harry Banes' is destined to become a trading classic. This is both the missing piece and the foundation that comes before the strategies and methodologies. The search for the Holy Grail begins and ends in the heart and mind. The journey is authentic and real and if you're willing to take it with Rob, you will be rewarded in the end. Seldom has psychology and wisdom been so entertaining!"
—Raghee Horner, trader and author of Forex Trading for Maximum Profit and Days of Forex Trading

"In a series of insightful and entertaining vignettes, Rob Booker teaches both the novice and the experienced trader some hard won truths about the currency market. It's a must read book written by a guy who survived the trenches and went on to prosper in the biggest and most competitive financial market in the world."
—Boris Schlossberg, Senior Currency Strategist, Forex Capital Markets LLC, and author of Technical Analysis of the Currency Market

Customer Reviews:

Good Read, but only tells what can be wrong ..........2007-10-06

It is in a story form and lets you read quickly. Telling you about how a novice can get everything wrong, but then how to make it right was not cover in detail, probably making it too easy. The man in the book more or less lost his account in the first few trades, very typical, but then he can do it right and start making money soon afterward, not very typical .... my understanding.

Overall, fun to read, but I don't learn much from it.

Highly Recommend.......2007-09-26

This book is a welcome diversion from the vast array of trading instruction available. Light reading but still loaded with great info and insights every trader will appreciate. The author tells a good story too!

A Really Good Book........2007-09-23

What a really good book. I wish Rob could have written all my textbooks over the years, as I would have learnt a lot more. I usually learn everthing by reading textbooks or by the instructions on the can and it is hard to teach yourself. This book made me laugh at first, because nobody could be as foolish as Harry, but halfway through the book, I realiized, I am Harry, except that I had no one to take me under their arm and say, "This is what you must do, do this and you will succeed", life would be a lot easier. Rob gets the message across in this book by telling it through the life of Harry, his mistakes, coverups and bascially stumbling through life. It is a very good book.

B.S. Artist.......2007-09-23

This guy is an entertainer: the book, like his other work avaiable on the web, is genuinely entertaining. But he is at core a B.S. artist. This puts him at the level of most anyone on TV or in print who gives Trading Advice. According to his own Bio he has bounced from job to job and has finally found one that he can cash in on for a while. Read for fun and with a pound of salt.

Excellent read....Highly recommended.......2007-09-21

This book is a must read for anyone that is thinking about or currently trading forex. Harry Banes starts out without a clue how to begin, like many novice traders, and is able to figure out how to become a better person and a better trader through discipline and hard work. This is a great book and was tough to put down. Rob does a great job of showing you what not to do during the initial stages of your trading career and what to do when you are really ready to get going.

Average customer rating:

thousand mile begin with the first step
look for something else
Forex made clear
There is meat in this book
Decent Introduction to Forex

Profiting With Forex
John Jagerson , and S. Wade Hansen
Manufacturer: McGraw-Hill
ProductGroup: Book
Binding: Hardcover

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Similar Items:

Beat the Odds in Forex Trading: How to Identify and Profit from High Percentage Market Patterns (Wiley Trading)
Getting Started in Currency Trading: Winning in Todays Hottest Marketplace (Getting Started In.....)
Technical Analysis of the Currency Market: Classic Techniques for Profiting from Market Swings and Trader Sentiment (Wiley Trading)
The 10 Essentials of Forex Trading
Day Trading the Currency Market: Technical and Fundamental Strategies To Profit from Market Swings (Wiley Trading)

ASIN: 0071464654

Book Description

Profiting with Forex introduces investors to all the advantages of the global foreign exchange market and shows them how to capitalize on it. Readers will learn why forex is the perfect supplement to stock and bond investing; why it is unrivaled in terms of protection, profit potential, and ease of use; and how it can generate profits, whether the other markets are up of down.

Written by two leading forex experts, this complete investing resource uses basic economic principles, solid technical analysis, and lots of common sense to develop an arsenal of tools and techniques that will lead to winning results in the lucrative foreign exchange marketplace. Profiting with Forex includes everything that investors need to know about:

The many advantages of the forex market: huge market size, ease of entry, profit potential, tax incentives, 24-hour trading, no commissions, increased leverage, and guaranteed stops

The basic terms of forex trading: definitions of important concepts, including "pip," "currency pair," "contract" or "lot," and more

Genesis and growth of the forex market: how the forex market emerged out of a changing global financial landscape and continues to changes and adapt with that same volatile landscape

Fundamental factors that shape the Forex market: the U.S. government, inflation, the U.S. stock market, China and other emerging markets, oil, and breaking news

Fundamental tools for tracking Forex market changes: interest rates, Treasury International Capital Data, Consumer Price Index, S&P 500, U.S. dollar vs. Chinese yuan, balance of trade, crude oil futures, and news media

Technical analysis tools and indicators for gauging market sentiment: moving averages, oscillating indicators such as, stochastics, Commodity Channel Index, Relative Strength Index, Fibonacci analysis, and others

Filled with over 150 illustrations and figures, Profiting with Forex also shows investors how to combine their newly acquired knowledge of Forex fundamentals with proven trading techniques that can generate great rewards in the market.

Customer Reviews:

thousand mile begin with the first step.......2007-07-03

very nice book for novice. this book story about what is behind the forex market. National Debt,Inflation,Interest rate statement everything are inside in this book.

look for something else.......2007-05-09

If you have some understanding about the economy look for something else. The book is too basic. All the time you see same supply/demand charts. Even at university for me it was enough to see them once to understand. Why do they have to be on every second page in the book about forex market? If it would be named "Forex for Dummies" that would be the right title.

Some times it is misleading eg. when authors compare for example forex with futures or options, or the statement about guaranteed stops...

I've bought this book and now I'm looking for some thin else that I would be able to use... This is when I'm posting this comment... because this book appeared among search results once again...

Forex made clear.......2007-04-12

It is really a great book.
It introduces the key factors that move forex market(fundamentals) and tools to know how the market will move drove by fundamentals(the technical analysis). It translates the economic factors in what really moves the market, i.e, supply and demand.
Here, technical analysis is used as tool to pinpoint entry and exit points and, again, to look how the market will move.
I am not experienced in forex, I am just starting and this book helped me a lot, to make things clear. It gives you a start point with which you can build your own trade strategy.
Although it is a basic level book, its a great start point.
After read this book, its worth have a look at Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications (New York Institute of Finance) to dig deeper in technical analysis and also The Secrets of Economic Indicators: Hidden Clues to Future Economic Trends and Investment Opportunities to improve your understanding in how economy afects the market.

There is meat in this book.......2007-04-07

I am not a FOREX trader. I read this book to have an overview on the subject. This book is indeed good in giving the marketwise fundamentals of the FOREX. Although it is an introductory book, one can learn a lot from it by reading it by thinking.

Decent Introduction to Forex.......2007-04-05

I like this book. It is good for the beginner, though it focuses mainly on fundamentals. The Fundamentals, however are well explained, which is an added plus as I think that not many beginners focus on foundamentals enough.

Overall I think it was well written and the authors try to throw some humour in there to keep you interested. Go ahead and buy it you will not be disappointed.

Getting Started in Currency Trading: Winning in Todays Hottest Marketplace (Getting Started In.....)

Average customer rating:

Exactly what you should get in a beginner's Forex book
broad over view
USELESS
Boring and Just a Bunch of Information stuffed in There
Wonderful primer for forex trading!!!

Getting Started in Currency Trading: Winning in Todays Hottest Marketplace (Getting Started In.....)
Michael Duane Archer , and James Lauren Bickford
Manufacturer: Wiley
ProductGroup: Book
Binding: Paperback

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ASIN: 0471713031

Book Description

Getting Started in Currency Trading is both an introduction and reference tool for beginning and intermediate foreign exchange (Forex) traders. This information-packed resource opens with a description of the Forex market and a section of clearly defined Forex terms with examples. You'll learn how to open your own trading account by following step-by-step instructions and numerous screen shots that show you what expect inside a dealer's trading platform. You'll walk through the physical process of placing and liquidating currency orders. Later chapters introduce various trading strategies and tactics in detail, along with some fundamental and technical analysis that will help you win in the exploding foreign exchange trading market.

Download Description

An accessible introduction to the exploding foreign exchange trading market Getting Started in Currency Trading is both an introduction and reference tool for beginning and intermediate foreign exchange (Forex) traders. This information-packed resource opens with a clear description of the Forex market and a section of Forex terms that are clearly defined with examples. Readers are then shown how to open their own trading account with step-by-step instructions-accompanied by numerous screen shots of what to expect inside a dealer's trading platform-that walk them through the physical process of placing and liquidating currency orders. Other chapters introduce various trading strategies and tactics in detail, along with some fundamental and technical analysis to assist the trader in their decision-making process.

Customer Reviews:

Exactly what you should get in a beginner's Forex book.......2007-07-12

This book is exactly what a beginner's Forex book should be. It gives you a very brief history, terms used in Forex, the mechanics of Forex, how to open an account with a broker or online, the calculations, some money management techniques and a chapter on fundamental and technical analysis and resources. It contains just enough information for a beginner to get started without overwhelming her / him.

broad over view.......2007-05-19

but abit lacking on knowledge.not enough indepth knowledge and wisdom for me. but none the less useful. more of a quick reference i think.a book more if want a sneek peak at the forex market. easy to read and understand.

USELESS.......2007-04-25

The authors brief treatment of what are very complex topics will lead readers to falsely believe that they can trade these markets with little training. It appears that the authors basically cut and pasted brief paragraphs about a variet of topics and called it a book. Other reviewers have called it a 'big picture' book, the truth is it is a complete waste of time and money.

Boring and Just a Bunch of Information stuffed in There.......2007-04-12

I found this very hard to follow and it seemed like a lot of of info was just copy and pasted into the book. Who knows. That's just my humble opionion.

Wonderful primer for forex trading!!!.......2007-03-18

Before someone can write poetry he must learn the alphabet and some grammar rules. Before you trade forex you should read this book to make forex "poetry" by trading well. This book is a concise and clear presentation of all of the basic ideas needed to trade forex.

It seems to me that there are two kinds of people who will not enjoy this book. The first kind of person will never understand the difference between a "pip" being a trading unit of currency and the funny thing on the end of an orange! Beware of this kind of person. They should spend more time watching the food channel to pick up on new cooking techniques. The second type of person is looking for trading techniques and would do well to read the author's excellent work on charting techniques for forex trading.
Take note, these men are SERIOUS traders and have the rare talent to bring complicated ideas to different levels of readers. This is a primer, nothing else. If you read this book and do not "get anything" from this then you should not be in the forex trading game. You will have learned a very inexpensive lesson. If this book makes no sense to you consider going to cooking school.
However, there are thousands of newbie traders that should own and use this book. Between page 1 and page 182 is a collection of all of the basic ideas that you will need to play this amazing game of forex trading. Good trading to all.

Technical Analysis of the Currency Market: Classic Techniques for Profiting from Market Swings and Trader Sentiment (Wiley Trading)

Average customer rating:

Uncommon read
Offers a good sample of technical tools and how to use them
Show me the money!
Very Good Forex Primer
Just average stuff for Forex, if that

Technical Analysis of the Currency Market: Classic Techniques for Profiting from Market Swings and Trader Sentiment (Wiley Trading)
Boris Schlossberg , and B. Schlossberg
Manufacturer: Wiley
ProductGroup: Book
Binding: Hardcover

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General | Investing | Business & Investing | Subjects | Books

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Mastering the Trade (McGraw-Hill Trader's Edge)

ASIN: 0471745936

Book Description

Proven currency-specific trading strategies from one of today's top currency analysts

"If you trade currency, then you need to have this book on your desk. It's the only book you need for technical analysis of the fastest-moving market on the planet."
-Rob Booker, Currency Trader, W.R. Booker & Company

"In plain English, Schlossberg lays out the basics in using technical analysis to trade foreign currencies, from the fundamentals of how the FX market works to the variety of technical strategies and trade management techniques traders can employ. Along the way, he offers entertaining examples and observations as well as simple, easy-to-read charts and diagrams. Anyone interested in getting started in the hugely popular FX market would do well to begin with this book."
-Sarah Rudolph, Executive Editor, SFO Magazine

"Boris Schlossberg has done a fabulous job with this book. It's packed with insightful tips and strategies that are sure to save traders a lot of time and money."
-Cory Janssen, CoFounder, Investopedia.com

"Schlossberg's book is a great resource for traders just starting out in currency markets. His focus on simplicity is critical for a new trader's education on how to make money."
-Andrew B. Busch, Global FX Strategist, BMO Financial Group

Customer Reviews:

Uncommon read.......2007-07-31

I was pleasantly surprised. I expected classic views, as state in the title, but in fact it has lots of specific info about forex trading and mechanics. I even liked the parts not related to TA more than that dealing with classic TA.

Offers a good sample of technical tools and how to use them.......2007-03-08

A good book if you are looking to day trade for longer term trading there are better resources. Boris has an aggressive style of trading with a propensity for damage control through positional reversal, it makes for an exciting day!

Show me the money!.......2007-01-16

Have you noticed that 99% of the time, technical analysis authors never backtest the systems they are writing about (or if they do they never reveal the results) ? This book is no exception. Well I am sick and tired of that nonsense! Where is the PROOF that the systems are profitable? How many pips profit (if any!) will the system generate per month on average? What is the worst drawdown? None of these issues are addressed in the book, even though it would take only minutes to backtest most of the techniques (setups as the author calls them) using software like Omega Trade Station!

In other words we are supposed to trade the systems presented in the book (and risk our hard-earned money) without even knowing if they are profitable or not in the long run.

I am not saying that this book is worthless, I just want the PROOF that these forex systems are indeed profitable and do not generate huge drawdowns in the process.

Very Good Forex Primer.......2007-01-09

I have been trading in forex for over 3 years, but hadn't really studied or made use of the technical tools at my disposal. This book gives a very good overview of all the forecasting tools that come with most trading platforms. Schlossberg stays objective about the advantages and drawbacks of each technique rather than pimping his own personal style, thus giving the reader the ability to review all the different tools and utilize the ones that work best for him.

Some of his examples and diagrams seemed to be counter-intuitive to what he was describing, so that was a bit of a drawback. I also would have liked to see more in-depth examples to show how a trader would look at each step in each technique rather than an all-inclusive chart showing every part of the example. That got a bit confusing at times.

Overall, though, I am very pleased with the book and the information it gives. It is objective, concise, and well prepared. I would recommend this book to anyone who is still trying to understand the forex forecasting tools that are available and how to use them.

Just average stuff for Forex, if that.......2006-12-30

Thanks to Schneider (12/19/06) for some excellent points in his review. I agree completely.

I read this book and in my opinion it would be very hard to make money in forex with what is presented here. Schlossberg emphasizes time lagging indicators that simply won't work well in this fast moving environment. MACD is ancient history when it's decision time and 'bands' will show a trend good enough (as many other indicators do), but I wouldn't want to put down any money based on them.

A trader's best bet is candlesticks and pivot points. The former always displays the psychology of the market and is not as time lagging as other indicators. The latter is viewed by almost all traders in forex and watched closely for turns (which the candlesticks are excellent at displaying). Using the two in combination can be very profitable and other indicators can be used to confirm these two. But how would an author 'fill' up a book if he only wrote about candlesticks and pivot points.

Pivot points can be found daily on the web for examination and 'Candlestick Charting Explained' by Gregory L. Morris is a terrific book, well worth the money.

Any book on technical analysis that doesn't emphasize candlestick charting is suspect.

The Money Bazaar : Inside the Trillion-Dollar World of Currency Trading

Average customer rating:

Boom or Bust an indepth look at how the FX works.
Dated and not ability oriented
Interesting but dated
Great overview!

The Money Bazaar : Inside the Trillion-Dollar World of Currency Trading
Andrew Krieger
Manufacturer: Crown
ProductGroup: Book
Binding: Hardcover

Public Finance | Economics | Business & Investing | Subjects | Books

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Futures | Investing | Business & Investing | Subjects | Books

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ASIN: 0812918614
Release Date: 1992-03-03

Customer Reviews:

Boom or Bust an indepth look at how the FX works........2005-08-02

About the time of the Gulf War, International Markets had been hoping the U.S financial house would put their house in order. International Markets wanted more investing, savings and growth; instead, U.S markets became heavy in consumer debt. Interest, taxes, and inflation were at high levels. Foreign investment began seized up large chunks of real estate hoping for inflation too drive up price and increase their U.S equities. The 80s housing boom would be curtailed by rising interest rates but maintain a stead climb for the next 25 years. Real Estate would seem invincible until maximum debt levels could not be exceeded.

Corporate Investment enticed foreign investors to buy U.S companies based on location value and settling for lower levels of production. However, the corporation investors would not be expected to maintain this pattern. Investor would buy U.S companies and transfer labor forces overseas taking advantage of lower labor costs and high profit margins.

Deflation. What would happen, if the housing prices deflate? Cheap money would be repaid by expensive money and for this reason, it may be better to cut loses, and move the money into a foreign currency. Perhaps, the Germany currency would be the refuge to preserve value. Investors will be looking for currencies in countries where economic growth is high, inflation low, and real interest rates are high. Investors always have a safe habor to retreat too. Once the Foreign exchange starts moving in a particular way, it is unlikely to reverse, just like big ships turn slowly. The shifting of money between countries is linked to economic performance.

In 1984, the dollar reached new highs, many consider it overvalued, some were watching for a sell-off. Reagan stated, he would not intervene. The decline of the dollar was agreed upon in "The Plaza agreement", as follows, "further orderly appreciation of the main non-dollar currencies against the dollar is desireable." Between 1985-87 the dollar fell 50% meaning the buying power of the U.S citizen was cut in half.

Capital flows. There is only one hugh pot of international money. Capital flows shift assets from one country to another and these shifts affect the currency value or the exchange rate. Foreign exchange is needed for liquidity. Individual trader make and lose money from Foreign exchange transactions, however, corporations use the foreign exchange for liquidity. Corporations may be required to make purchases in dollars, so they exchange local currency for dollars.

Hedging allows the company to lock a certain exchange rate in the future for a fix amount of money. Banks offer these credit rate forwards to clients. Banks actively try to bet they can beat the averages extended for the credit forward rate. Banks do this by buying and selling currencies on the foreign exchange and profiting off a marginal spread.

In 1991, the U.S recession was ending, Europe economy was slowing down, the dollar was sharply rising, relative interest rates were thought to be shifting to the West, dollar dominated assets were becoming attractive, and capital began pouring in. U.S commodities prices, bonds, and securities were directly affected by foreign investment. This massive international pool of money flowed from one investment vehicle to another. Large blocks of commerical and private real estate where wholly or partially owned by the British, Dutch, Canadian, and Japanese countries. U.S manufacturing depending heavily on investment from overseas.

U.S imports are paid in dollars. When the foreign exchange rate favors imports (when their is a strong domestic currency), lower import costs will soon be pass along to the consumer, in terms of cheaper products. For example, an American importer buying Japanese goods must trade dollars for yen in order to pay for those goods. Likewise, a German buying American goods must sell deutsche marks and buy dollars in order to pay his invoice with U.S currency. When the exchange rate goes against a company, it must lower costs, lower its profit margin, and seek new avenues to export goods.

The foreign exchange market is a free market in the purest sense. It is not answerable to a higher authority; it is composed of 200,000 active traders; it has millions of global investors; it has no restrictions on this market; it has no international authority acting as a governing authority; it is consider one of the most stablizing factos in the world monetary system.

Dated and not ability oriented.......2005-06-04

I tend to overlook the age of books before purchasing them, and this is yet another one of those follies. Aside from that, this book is an interesting read, though more personalized and biographical. I would pick this book up if you want to maybe gleam some personal concepts and perceptions from an insider, but don't think it's going to help your trading or undestanding too much. There are much better books for that.

Interesting but dated.......2003-10-24

Krieger, I'm going to guess, didn't really know for sure what kind of book he wanted to write so he kind of included a bit of everything, but gave us not enough of anything.

It would have been great if the book had been written in the same style that Jim Cramer's book revealing how he ran his hedge fund was written, lot's of action and description. Krieger includes some of this, like how he'd spend 18 to 20 hours a day in front of a computer and wonder about his life. But he just didn't get in depth enough.

He covers a lot of history, but again, it was not enough if history was what you were looking for. In my case, it was a bit much, I really didn't need to hear so much about the specific names and dates, I wanted more of the individual trading side of his story, what he did and why. How it worked or didn't.

Of course, this book is totally out of date. For that reason, it is actually even more interesting in a way, as the author has no idea how FX trading will advance.

The book itself offers no specific strategies or advice on investing in the FX market, however, I guess that would make sense as when it was written, only pro's or people with a lot of cash could enter this market.

If Krieger were to decide to write a modern work, covering the topic of trading "inside the trillion-dollar world of currency trading" as the cover states, it would be something I'd love to read. I can't recommend this work currently, without the caveat that the reader realize it's limited value as far as trading in today's market. The history, however, is interesting as is the limited view the author gives us as to his trading. Whether the price of the book is worth paying, I'd recommend it only to the reader that is sure of what they are getting.

Great overview!.......2003-04-14

This is a great book. Mr.Krieger gives you the history of how foreign currency trading came about. He also provides you insight into how curreny trading work and more importantly how it fails.

He doesn't give specific strategies on how to trade currencies, but he does introduce vocabulary and resources to help you get started. In that respect the book is out of date. There is no discussion on the internet and how that has changed the face of currency trading forever.

Book Description

A groundbreaking collection on currency derivatives, including pricing theory and hedging applications.

"David DeRosa has assembled an outstanding collection of works on foreign exchange derivatives. It surely will become required reading for both students and option traders."-Mark B. Garman President, Financial Engineering Associates, Inc. Emeritus Professor, University of California, Berkeley.

"A comprehensive selection of the major references in currency option pricing."-Nassim Taleb. Senior trading advisor, Paribas Author, Dynamic Hedging: Managing Vanilla and Exotic Options.

"A useful compilation of articles on currency derivatives, going from the essential to the esoteric."-Philippe Jorion Professor of Finance, University of California, Irvine Author, Value at Risk: The New Benchmark for Controlling Market Risk.

Every investment practitioner knows of the enormous impact that the Black-Scholes option pricing model has had on investment and derivatives markets. The success of the theory in understanding options on equity, equity index, and fixed- income markets is common knowledge. Yet, comparatively few professionals are aware that the theory's greatest successes may have been in the derivatives market for foreign exchange. Perhaps this is not surprising because the foreign exchange market is a professional trading arena that is closed virtually to all but institutional participants. Nevertheless, the world's currency markets have proven to be an almost ideal testing and development ground for new derivative instruments.

This book contains many of the most important scientific papers that collectively constitute the core of modern currency derivatives theory. What is remarkable is that each and every one of these papers has found its place in the real world of currency derivatives trading. As such, the contributing authors to this volume can properly claim to have been codevelopers of this new derivatives market, having worked in de facto partnership with the professional traders in the dealing rooms of London, New York, Tokyo, and Singapore.

The articles in this book span the entire currency derivatives field: forward and futures contracts, vanilla currency puts and calls, models for American exercise currency options, options on currencies with bounded exchange rate regimes, currency futures options, the term and strike structure of implied volatility, jump and stochastic volatility option pricing models, barrier options, Asian options, and various sorts of quanto options.

Customer Reviews:

Excellent choice of papers!.......2001-08-18

DeRosa has picked excellent papers. If one reads the papers in detail, the currency derivatives literature, as well as related derivatives literature, becomes very easy to understand.

Comprehensive.......1999-06-19

This book presents highly technical papers on diverse topics from variuous academics. It would be very helpful to anyone looking to understand theoretical aspects of FX derivatives. Since most papers are written by different authors, notation is not consistent. In addition, academics do not always write like Hemingway. Nevertheless, the book covers everyhting from vanillas to exotics very well.

The Complete Idiot's Guide to Foreign Currency Trading (Complete Idiot's Guide to)

Average customer rating:

Idiots Guide to Foreign Currency Trading
What's Inside
I guess I am not a complete idiot, as I hated this book.
Terrible
Insightful looking into global markets

The Complete Idiot's Guide to Foreign Currency Trading (Complete Idiot's Guide to)
Gary Tilkin , and Lita Epstein
Manufacturer: Alpha
ProductGroup: Book
Binding: Paperback

Foreign Exchange | Finance | Business & Investing | Subjects | Books

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Futures | Investing | Business & Investing | Subjects | Books

Introduction | Investing | Business & Investing | Subjects | Books

General | Personal Finance | Business & Investing | Subjects | Books

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Similar Items:

Currency Trading For Dummies (For Dummies (Business & Personal Finance))
Getting Started in Currency Trading: Winning in Todays Hottest Marketplace (Getting Started In.....)
The 10 Essentials of Forex Trading
The Currency Trader's Handbook
Forex Made Easy : 6 Ways to Trade the Dollar

ASIN: 1592575889

Book Description

The only how-to guide to today's most lucrative, fast-moving investment opportunity. Interactive CD included!

Once considered the most abstract of all kinds of investing, foreign currency trading has exploded into the mainstream. In this concise, easy-to-follow guide, foreign exchange expert Gary Tilkin and financial journalist Lita Epstein shed light on the entire process, providing tips on successful trading strategies, explaining the pitfalls, showing how to avoid on-line fraud, and much more.
--Interactive instructional CD features Global Foreign Trading's proprietary software DEALBOOK, which allows readers to log on to its site and learn the process of currency trading, complete with virtual dollars with which to practice their new trading skills
--Also includes live links to up-to-the-minute information on every foreign currency and current resources professional traders use to get insight into this fast-paced market

Customer Reviews:

Idiots Guide to Foreign Currency Trading.......2007-10-07

I had to read this book because, well, my boss wrote it. :)
It was very informative, easy to understand, etc, etc, etc. And I'm not just saying this because I don't want to get fired either. haha
If you are interested in Forex, this book is a good place to start.

What's Inside.......2007-07-22

The Complete Idiot's Guide to Foreign Currency gives you an overview of Forex and who trades it. You'll find a history of how Forex started, an overview of the key terms you need to know and how to find the most current information about currency on the internet and in other print publications as well.

You'll find an entire chapter on why currency changes value including discussions about economics and business cycles, political developments, changes in interest rates, international stock news, inflationary expectations, international investment patterns and policies adopted by Governments and Central Banks. We also discuss how you as a trader can take advantage of these changes.

Next we cover the eight key currencies you can consider trading as a new trader and then talk about the risker emerging country currencies to watch after you have more experience and decide you want to take on more risk.

After that there are four chapters on trading basics you need to know - trading platforms, hardware and software; basics of technical analysis (don't expect to learn how to do technical analysis with this book - it's just an intro - that is a book in itself), fundamental analysis, and the risks you face as a Forex trader.

Fianlly we look at the tools you can use for trading including how to deveop your money strategies and how to place orders. We do use co-author Gary Tilkin's software, which is available on the CD Rom included with the book, with sample trades but recommend others that can be accessed on the internet as well. Gary Tilkin is the founder and CEO of Global Forex Trading, which is an online foreign exchange dealing company. He is an internationally renowned expert in currency trading and the futures markets with over 30 years of trading experience.

Other chapters discuss using mini accounts, managed Forex and trading systems, and how to avoid money fraud.

I guess I am not a complete idiot, as I hated this book........2007-07-06

This is a book filled with old and obselete material which can be found almost anywhere. It is certainly NOT a newly written book.

I found many things which while once true, are no longer true. Obviously they were copied from old sources. I did not find anything which is new, or would be of help to a new trader. I teach Forex trading to beginners, and none of my students felt this book had any value to them.

You don't need to be an idiot to trade Forex. But you would have to be to think you could learn anything from this book.

To me, one star is much too high a rating.

Terrible.......2007-07-03

Not recommended - not what you expect when you buy "Idiot Guides." I think other books are probably much better. It gave me very little understanding of trading currency, and definitely missed the mark in many areas. There are many grammatical errors, and the author constantly pushes his own website as being the best. He spends little time explaining what actually moves currency prices, which should have been a main topic. Instead, he spends much time discussing things like what kind of computer you need, what a bid/ask is, and how to pick a good broker (use his company)- which most people can figure out for themselves. His chapter on technical analysis is almost comical - it does nothing more than describe what a candlestick chart is, a bar chart, and what a trend is.

The single useful advice I could come up with is his recommendation to cover a loss at a 30 pip decline, and shoot for a 100 pip profit. Otherwise, in many paragraghs he says interest rates boost a currency value and in one paragrapgh they lower a currency value, so I am left wondering which it is...

At this point, I have to buy another book because I basically understand nothing. I still have no idea how brokers charge interest on your margin, or how long people hold currency trades. The author frequently mentions losing everything in a few minutes but does not explain how this happens -ie - why you cannot just wait for it to come back like with stocks and options.

Overall, you will definitely need to buy another book. I think this book was very poorly written and does not convey information well at all.

Insightful looking into global markets.......2007-03-16

Being new to the foreign currency markets I found this book to be very good at answering the questions that I didn't know or was too embarassed to ask anyone. Clearly written, I think it is a must read for anyone that is thinking about trading currencies, or anyone who has traded currencies but may still have questions.

Foreign Currency Trading: From the Fundamentals to the Fine Points

Average customer rating:

This book really is not about teaching someone to trade
The Cover PAge looks pretty!!!
To the authors: you must be kidding
Rarely have encountered a book this useless.
save your money ...

Foreign Currency Trading: From the Fundamentals to the Fine Points
Russell Wasendorf
Manufacturer: McGraw-Hill
ProductGroup: Book
Binding: Hardcover

General | Popular Economics | Business & Investing | Subjects | Books

Money & Monetary Policy | Economics | Business & Investing | Subjects | Books

Public Finance | Economics | Business & Investing | Subjects | Books

Foreign Exchange | Finance | Business & Investing | Subjects | Books

General | Business & Investing | Subjects | Books

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Similar Items:

Getting Started in Currency Trading: Winning in Todays Hottest Marketplace (Getting Started In.....)
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ASIN: 0786311673

Book Description

The opportunities for unmatched returns and investment protection in the brave new world of foreign currency investing are second to none. In Foreign Currency Trading, financial executives Russell Wasendorf, Sr., and Russell Wasendorf, Jr., describe foreign currency trading in plain terms, and help you understand the risks, benefits, and operational requirements that you will need to take advantage of this market’s tremendous potential. Look to Foreign Currency Trading for clear explanations on the mechanics of foreign currency trading, in-depth discussion of all pertinent foreign exchange rules and regulations, and a comprehensive glossary with literally hundreds of terms essential to forex trading. With formerly imposing currency trading restrictions having been struck down in recent court rulings, the world of foreign currency trading is an exciting and rapidly-expanding field. Let Wasendorf and Wasendorf’s Foreign Currency Trading be your comprehensive guidebook for effectively taking advantage of this exciting opportunity, not only as a source of unmatched income and profits, but also as a sophisticated hedging instrument in any investment portfolio.

Customer Reviews:

This book really is not about teaching someone to trade.......2007-09-18

I was looking for a basic book teaching the concepts and trading practices and fundamentals. This book has a lot to say about none of the topics needed to help someone become a trader. If you are looking to have someone trade your account you might be helped by it. There are a lot better books out there "Getting Started in Currency Trading" is a fine example. This is the best buy for the money when you are done reading it you will be much better informed to move ahead. Getting Started in Currency Trading: Winning in Todays Hottest Marketplace (Getting Started In.....)

The Cover PAge looks pretty!!!.......2007-06-07

Well when i grow up i to be Russell R Wasendorf, whether sr. or jr. I think these two are the greatest salesmen around. I bought a wonderful book which adorns my bookcase and adds colour and life to my room. Whats more is that i found the same book in my brother's home. Thinking he 'borrowed' it I asked him, He replied saying he 'invested' in it and it works well as a sleep aide . Seriously some points for beginners are reasonably covered but most of the book was a waste of time, paper and resources. There were no Fine points covered in the book to memory but if there were it was lost in the dribble.

To the authors: you must be kidding.......2006-02-09

I'll summarize this book for you -- "Foreign Currency Trading is difficult, if you want to learn more, send us some more money and we will enroll you in a class."

Save your money, buy yourself a newspaper instead.

Rarely have encountered a book this useless........2003-06-05

As others have said clearly, this book is a waste of trees, ink and the time of its reader. The "authors" should be ashamed of such blatant hucksterism and poor description of even the most basic aspects of trading. Even if you are a neophyte, look somewhere else.

save your money ..........2003-03-16

... I have no idea what objective these guys had in mind when they sat down to write this book.... This book is just a bunch of information thrown together (probably downloaded from the internet) and they obviously took no time to put any real effort into this book. I was terribly dissappointed with my purchase of this book.....look elsewhere if you are interested in getting started in forex trading.

Technical Analysis Applications in the Global Currency Markets

Average customer rating:

Technical Analysis Applications In The Global Currency Markets Second Edition
To be critical is to be constructive.
Not any help at all...
Very Very good book
excellent value!!

Technical Analysis Applications in the Global Currency Markets
Cornelius Luca
Manufacturer: Prentice Hall Pr
ProductGroup: Book
Binding: Hardcover

General | Popular Economics | Business & Investing | Subjects | Books

International | Economics | Business & Investing | Subjects | Books

Money & Monetary Policy | Economics | Business & Investing | Subjects | Books

Public Finance | Economics | Business & Investing | Subjects | Books

Foreign Exchange | Finance | Business & Investing | Subjects | Books

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Trading in the Global Currency Markets Second Edition
Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude
Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications (New York Institute of Finance)
Getting Started in Currency Trading: Winning in Todays Hottest Marketplace (Getting Started In.....)
The Currency Trader's Handbook

ASIN: 0134940555

Book Description

Now updated and revised with all new charts and key information on the euro. The introduction of the euro and the recent explosion of electronic trading has changed the outlook of the foreign exchange market dramatically. Global currency trading offers staggering rewards for those with the knowledge to capitalize on it.

This updated guide provides an easy-to-follow roadmap for beginners and experienced traders alike on how to use technical analysis-with revised charts and graphs-to cash in on these enormous opportunities. The only guide of its kind to focus solely on all aspects of technical analysis, Luca explains and illustrates: The fundamentals of technical analysis and how it applies to foreign exchange What one must learn about trends and trend patterns How the major players in foreign exchange analyze their charts The quantitative methods of analysis-including all types of moving averages, oscillators, and other indicators This book provides a thorough, yet easy-to-grasp explanation and analysis of point and figure charting, candlestick charting, the Gann methods, and the Elliot Wave principle. Also included is an updated CD-ROM that lets readers test the methods presented and apply them to real trading-and quickly increase proficiency in charting and chart analysis.

Customer Reviews:

Technical Analysis Applications In The Global Currency Markets Second Edition.......2005-07-16

Having always been intrigued by the FX market but also having never traded a day in my life I bought this book and his other with the intent of learning the basics. I wanted to get an overall view of wha the FX was and how I could trade in it. I believe it has done what I wanted and helped me to greatly understand the MANY different aspects of trading. I would say that it covers the basic aspects while only slightly delving deeper into some of the more complex issues. I believe one of the greatest things about this book is that it has helped me to figure out which directions I need to pursue as well as which I don't. I have read some other comments on this book and am rather appalled that people actually take the time to make negative and unsubstantiated claims about the author, his knowledge and experience. If you are disattisfied with the book, state your reasons why and perhaps make a constructive recommendation. Otherwise, all you're doing is wasting my time. This book is probably not for someone who is experienced and has a fair command of their trading. For someone who is looking for a clear, concise discourse on the basics this is definitely the book for you.

To be critical is to be constructive........2005-02-05

If this book is very bad, I am glad to learn it from people who consider themselves knowledgeable and who have read it. But should it be possible for such critics to propose another reference which they appreciated the content. It would be much more instructive for readers who are shopping for quality books.

Not any help at all..........2004-02-02

As a Foreign Currency Dealer, I was NOT helped from this book at all! Actually the title is misleading since he does NOT concentrate on FX, he only shows some graph examples using FX crosses instead of stocks... The author just refers to a lot of TA indicators only reviewing their typical Buy and Sell signals that are written in every TA book, and furthermore the sections are very bad structured. Really very very disappointed!!!

Very Very good book.......2003-08-08

This is a very good book. If you want to start trading currency online (like me) you must read this book first.

excellent value!!.......2003-03-21

I haven't completed the book but if I never read another page it's well worth what I payed compared to some prices of other simular books on the market. I don't know what the initial cost was, but those who wrote the unfavorable reviews should have waited to purchase. Maybe they would have been more positive.

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