Trade currencies like a seasoned pro with this friendly, fact-filled guide to the forex market Over $6 trillion changes hands in the foreign exchange market every day. You can jump straight into the action with expert guidance from the hands-on Currency Trading For Dummies . You’ll learn how the foreign exchange market works, what factors influence currency values, and how to understand financial data. When you’re ready to create your own game plan for trading currencies, you’ll be able to build it around your investment objectives, experience level, and risk appetite. You’ll also find details on the latest trends in currency trading, including currency ETFs, cryptocurrencies, and currency options. From essential newcomer knowledge to advanced positioning advice, Currency Trading For Dummies offers straightforward instruction that helps you: Source data and market intelligence, employ technical analysis, and use the latest tech to find the most lucrative trading opportunities Understand the most recent Securities and Exchange Commission (SEC) rules and regulations governing currency trading Avoid common pitfalls and mistakes made by novice and experienced currency traders Recognize profitable opportunities in the world of ETFs, currency options, and cryptocurrencies Successful currency trading is within your grasp. This accessible roadmap to trading mastery provides the foundational knowledge you need to create a structured, winning strategy and conquer the forex market.
A simple approach to successful forex trading
Many foreign exchange traders use either fundamental analysis or technical analysis and they're often considered to be mutually exclusive approaches. But FX does not have to be traded that way – fusing the two types of analysis will improve your research and, more importantly, your trading results.
This is how Kathleen Brooks trades foreign exchange and she has found it to be extremely successful. In Kathleen Brooks on Forex she reveals the secrets of this approach, demonstrating the indicators she uses, and showing through detailed examples how she plans and executes profitable trades.
At the heart of Kathleen's trading philosophy is the principle that fundamental factors – politics, economics and societal changes – cause currency prices to move in the medium to long term (and sometimes in the strangest ways), but throughout the day the price movements are based upon technical factors. Building a trading plan around the two sets of factors works for her and by reading about how she does her pre-trade market analysis (the homework), forms a trading plan and puts the plan into action, you will see how to apply this principle in practice in your own trading.
The book is divided into four sections:
– Part A – using fundamental indicators to gain an impression of the market – Part B – using technical indicators to refine your trading plan – Part C – fusing fundamental and technical analysis to select trades – Part D – revealing Kathleen's risk management techniques
Kathleen's description of her method, and ideas on how you can use it too, will appeal to anyone who wants to learn more about how to trade foreign exchange as well as those already in the market looking for a fresh approach. Blissfully free of rhetoric, written in an accessible personal style and punctuated with anecdotes from Kathleen's unique career in the markets, this is a new and refreshing look at foreign exchange.