An even better motivation personally is the fact that some of the biggest shorted trades in history have been those of currencies. Obviously, the one that immediately comes to mind is the iconic shorting of British Pound by the legendary investor Soros netting almost three billion pound. Cornwall Capital of The Big Short fame also profited immensely with shorting Australian Dollar before it killed it with the subprime mortgage CDOs.

Those are just two of a ton of forex successes. The point being that despite the fact that volatility in the forex market is barely observable, some of the most lucrative trades of Wall Street hedge funds have been that of forex. Thirdly, the forex market is barely moved by global economic downturns. Even during the Great Recession of , forex barely moved. This makes it an amazing hedging tool for your investments.

With all that prelude, I must say I was dearly disappointed to understand that my idea of forex was completely wrong after reading this book. But before we get into the content, let me give a shout out to the authors for writing a very balanced book on this trade. It tells you what is and what is not about the market, but cautiously stops short of advising you what you must and must not do. This was my first "X for Dummies" book and I must say their format is pretty impressive.

With "warning signs", "tips", "remembers", "technical points" etc sort of annotations, Dummies series of books could easily become an online "Social Reader" platform. Authors of the book, Kathleen Brooks and Brian Dolan seem highly accomplished in this business and have been involved with both Forex. com and Gain Capital for many years. First and foremost, a bulk of forex trading is short term, unlike what I had assumed all through.

In fact, it's not even short-term, it's super short-term. Traders do a plethora of short trades in a small span of time, and because of the relatively small changes in the Forex market, these trades are generally mammoth, in terms of several millions to billions of dollars.

With trades that big, even minor fluctuations have a drastic impact on your portfolio. Unlike the stock market where when you buy a stock, you are just buying an asset, in forex, you buy a "pair". So, when you say a stock goes up, it's absolute. But when you say a currency goes up, the question is it's going up against what? This basic idea sets the forex market completely apart from the stock or futures market because in this, selling a pair short is as prevalent as selling it long.

Thus, interest on your margin account, or interest gain on your holding becomes a lot more central. The book does a great job of diving into the evolution of the FX market all the way from the time of Reutors Dialing to the modern online platforms like Onada, Forex. com, Saxo etc. But my favorite parts of the book include 1. the reasoning behind Australian Dollar so closely dependent on Chinese Yuan, 2.

the illiquid Chinese Yuan and the government's hold on it, 3. the impact of the interest rate on the currency market interest rate is the single biggest influencing factor, akin to location in real estate market 4. the impact of major economic reports like NPR non-farm payrolls , labor report unemployment etc A lot of strategies mentioned in the book are generally applicable to stocks and options as well, but it still does a good job of explaining technical analysis procedures like Fibonacci Tracing, Japanese Candlestick graphs etc.

My only missing element of the book and of probably all Dummies book is that it's missing the "motivation" section as to why the reader should read the book. Some success stories or case-studies briefly mentioned in the introduction of the book would immensely inspire the reader. There are still a few questions in my mind that need answering. Some of the nitty-gritties of trading Ruble, about the illiquidity of Yuan, about using emerging market currencies for long term hedging etc.

But I believe they were mostly out of scope of this book. Overall, a decent book, tells the story. Not preachy yet informative. I already stepped in the mud after reading this book and lost a bit investing in South African Rand! flag 2 likes · Like · see review. Feb 11, Adam rated it it was amazing. A great book to get yourself introduced to the FOREX market. It's written in very understandable way that makes people not familiar with any financial markets to understand it easily.

If you are being interested in trading on FOREX, this book is definitely a great position to start with. The book alone will rather not prepare you well for trading, but will give you solid basic understanding of FOREX, allowing you to consume more advanced books much easier. flag 1 like · Like · see review. Mar 13, Andrew Pratley rated it it was amazing Shelves: non-fiction.

This book does an excellent job in acquainting said newbie to the world of currency trading. I found it easy to follow. In a year or two I will be able judge how useful it really was in helping prevail in these choppy waters. Feb 21, Geoff Steele rated it it was ok. candlesticks great representative pips five decimal points major pairs, minor pairs. Cross currency trades have legs going short is very common there is interest rates in every position deepest and most liquid market, driven mostly on speculation.

Aug 19, Tampines House added it. View 1 comment. Apr 08, Shalini Nemo rated it it was amazing · review of another edition Shelves: nonfiction-general. Easy to understand, even if some info is outdated provides lots of learning links too. Sep 27, Richard K. rated it really liked it Shelves: trading. Must-have for wanna-be currency traders. Hard to put it all together?

Oh Yes. Worth it? Written by real professionals and structured properly, I highly recommend it. Feb 12, Ulio rated it liked it Shelves: Ok 3 stars might be a little too harsh but I think it's the perfect rating for this Dummies book. I have read many dummies book related to finance. This one seems simpler than most of them. You might need to read all of it but even then its not enough. So this book Ok 3 stars might be a little too harsh but I think it's the perfect rating for this Dummies book.

So this book feels like it's not in depth enough for intermediates or beginners. Would just recommend to people who are already in finance, but need quick intro to forex. You can probably read the first 3 chapters in a day. Average rating 3. Rating details. Sort order. Start your review of Currency Trading for Dummies. Feb 12, Chris rated it it was amazing · review of another edition.

This is an excellent first book for those interested in currency trading. This was my first foray into the subject and the authors do a great job with explaining the fundamentals of the forex market and trading currencies.

What I particularly found helpful was the explanation of the major currency pairs and the particular intricacies of trading each. The authors also include a basic primer on technical analysis as it pertains to currency trading.

However, what may be most benificial is the discu This is an excellent first book for those interested in currency trading. However, what may be most benificial is the discussions on developing and executing a trading plan. Overall an excellent book for those new to forex. flag 4 likes · Like · see review.

Dec 17, Anoop Dixith rated it really liked it. As an active trader of options, futures, stocks, and crypto, I have been meaning to foray into forex trading for a while now. Besides, most of us have been unintentionally following the growth or decline of at least two currencies, some even more, and noticed how they could be a viable investment vehicle.

For example, INR was at 40 units per dollar ten years ago, and now stands around And if you track the currencie As an active trader of options, futures, stocks, and crypto, I have been meaning to foray into forex trading for a while now. And if you track the currencies of weaker economies, you see the returns of even better.

An even better motivation personally is the fact that some of the biggest shorted trades in history have been those of currencies. Obviously, the one that immediately comes to mind is the iconic shorting of British Pound by the legendary investor Soros netting almost three billion pound. Cornwall Capital of The Big Short fame also profited immensely with shorting Australian Dollar before it killed it with the subprime mortgage CDOs.

Those are just two of a ton of forex successes. The point being that despite the fact that volatility in the forex market is barely observable, some of the most lucrative trades of Wall Street hedge funds have been that of forex. Thirdly, the forex market is barely moved by global economic downturns. Even during the Great Recession of , forex barely moved.

This makes it an amazing hedging tool for your investments. With all that prelude, I must say I was dearly disappointed to understand that my idea of forex was completely wrong after reading this book.

But before we get into the content, let me give a shout out to the authors for writing a very balanced book on this trade.

It tells you what is and what is not about the market, but cautiously stops short of advising you what you must and must not do. This was my first "X for Dummies" book and I must say their format is pretty impressive. With "warning signs", "tips", "remembers", "technical points" etc sort of annotations, Dummies series of books could easily become an online "Social Reader" platform.

Authors of the book, Kathleen Brooks and Brian Dolan seem highly accomplished in this business and have been involved with both Forex. com and Gain Capital for many years.

First and foremost, a bulk of forex trading is short term, unlike what I had assumed all through. In fact, it's not even short-term, it's super short-term. Traders do a plethora of short trades in a small span of time, and because of the relatively small changes in the Forex market, these trades are generally mammoth, in terms of several millions to billions of dollars.

With trades that big, even minor fluctuations have a drastic impact on your portfolio. Unlike the stock market where when you buy a stock, you are just buying an asset, in forex, you buy a "pair".

So, when you say a stock goes up, it's absolute. But when you say a currency goes up, the question is it's going up against what? This basic idea sets the forex market completely apart from the stock or futures market because in this, selling a pair short is as prevalent as selling it long.

Thus, interest on your margin account, or interest gain on your holding becomes a lot more central. The book does a great job of diving into the evolution of the FX market all the way from the time of Reutors Dialing to the modern online platforms like Onada, Forex. com, Saxo etc. But my favorite parts of the book include 1.

the reasoning behind Australian Dollar so closely dependent on Chinese Yuan, 2. the illiquid Chinese Yuan and the government's hold on it, 3. the impact of the interest rate on the currency market interest rate is the single biggest influencing factor, akin to location in real estate market 4.

the impact of major economic reports like NPR non-farm payrolls , labor report unemployment etc A lot of strategies mentioned in the book are generally applicable to stocks and options as well, but it still does a good job of explaining technical analysis procedures like Fibonacci Tracing, Japanese Candlestick graphs etc. My only missing element of the book and of probably all Dummies book is that it's missing the "motivation" section as to why the reader should read the book.

Some success stories or case-studies briefly mentioned in the introduction of the book would immensely inspire the reader. There are still a few questions in my mind that need answering. Some of the nitty-gritties of trading Ruble, about the illiquidity of Yuan, about using emerging market currencies for long term hedging etc. But I believe they were mostly out of scope of this book. Overall, a decent book, tells the story.

Not preachy yet informative. I already stepped in the mud after reading this book and lost a bit investing in South African Rand! flag 2 likes · Like · see review. Feb 11, Adam rated it it was amazing. A great book to get yourself introduced to the FOREX market. It's written in very understandable way that makes people not familiar with any financial markets to understand it easily.

If you are being interested in trading on FOREX, this book is definitely a great position to start with. The book alone will rather not prepare you well for trading, but will give you solid basic understanding of FOREX, allowing you to consume more advanced books much easier. flag 1 like · Like · see review. Mar 13, Andrew Pratley rated it it was amazing Shelves: non-fiction. This book does an excellent job in acquainting said newbie to the world of currency trading.

I found it easy to follow. In a year or two I will be able judge how useful it really was in helping prevail in these choppy waters. Feb 21, Geoff Steele rated it it was ok. candlesticks great representative pips five decimal points major pairs, minor pairs. Cross currency trades have legs going short is very common there is interest rates in every position deepest and most liquid market, driven mostly on speculation.

Aug 19, Tampines House added it. Brian seeks to make seemingly complex financial terms and market events into a readily understood theme, allowing readers to proceed with confidence. Brian Dolan received his Bachelor's Degree in Economics and History from Dartmouth College.

Brian also studied the German language, in which he is still fluent. I combine fundamentals and technicals to develop my trading strategies, and always have a strict risk-management plan in place. It can be easy to make money in the market; the hard part is keeping it! Company News Markets News Cryptocurrency News Personal Finance News Economic News Government News.

Your Money. Personal Finance. Your Practice. Popular Courses.

Starting anything in life needs some form of the learning curve and this equally applies to the forex market. All popular Forex pros and experts had to go through this stage. However, the difference is that they know where to begin their journey-forex trading books. Trading tips written by an expert in an easy to understand manner makes understanding the fundamentals of forex trading easy.

In any case, the market for forex exchanging guides is a packed one. It is also worth noting that we are not affiliated with any of the books below! So our list is completed unbiased, Enjoy. In his book, Steve Nison outfits the readers with all they need to investigate candle graphs.

Nison subtly affirms candle readings for experienced brokers utilizing well-known specialized examination devices, while beginner traders will figure out how to utilize candles in an independent investigation. He portrays how to utilize the device appropriately, dodge regular snares, and clarify the integral primary investigation methods, which affirms how markets will probably run.

In Johns book he explains how to compare price action and indicator action with Bollinger bands to make legitimate trading positions that are less risky.

In the book you will find illustrations of graph and chart with instructions on how they work. The author Jim Brown is from Queensland Australia. He is a full time forex trader and started trading back in Over his year of experience, he has developed trading systems and helped many new trader along the way online via forex blog and forums. In his book he offers one of his successful trading systems and how to implement it.

He explains and debunks some trading myths and get traders to understand the truth around risk in the market. He shines a light on the probabilities of the market movement that is tied into market speculation. While this repudiates standard monetary idea; He guarantees that it has given him an advantage over different dealers throughout his vocation.

The book is a theoretical and practical view of the present financial trends and a new way to look at the market. George is president of Soros Fund Management which is a 12 billion dollar international investment fund. The book by William Blau is a guide to technical indicators and how to put them to work. The book outlines the 3 basics of technical indicators used in stock, forex and commodity trading, which the title explains: Momentum, direction and divergence. William is known to be a technical wizard when it come to these three components of technical indicators.

He tries to dumb down the explanation with dozens of easy to read graphics or illustrations. John J. Murphy wrote it in , who is a previous head of Merrill Lynch. There is a revised second edition that is updated to todays financial world. It is a must read for any trader interested in tracking and analyzing market behaviors, with state of the art examples and illustrations. Presently in its third release, her book utilizes a two-dimensional methodology that consolidates hypothesis and significant learning with adjusted understanding into the essential and specialized forex exchanging systems intended to produce regular benefits.

She additionally covers the specialized examination exchanging methodologies that proficient forex brokers use consistently. The book by Brian Dolan is one of the best for beginners as it presents simple to use guidelines on forex exchange and portrayals of the market. Currency trading for dummies is not meant for professionals, it is simply made for newbies and beginner Traders. Initially distributed in , the refreshed book in was co-composed by Brian Dolan, previous boss money planner at Forex.

com, and Kathleen Brooks, overseer of examination at Forex. The universe of foreign trade, or forex, can be overwhelming even to experienced active financial traders.

Nonetheless, there are many books regarding forex trading, theories, technicals, fundaments, and more. Market trading should be taken from an educational approach.

Many of the books mentioned above come as audio books, hardcovers or electronic versions, so there are many way you can absorb the information and one day apply what you have learned in the market. We recommend always trying your new found skills on a FX demo account before investing with real cash. Author: Mark Prosz. The list of books below are perfect for beginner and advanced forex traders. Best Forex Trading Books List:.

Murphy Day Trading and Swing Trading the Currency Market, by Kathy Lien Currency trading for Dummies, by Brian Dolan. Japanese Candlestick Charting Techniques by Steve Nison.

Book Details: Print Length : pages Publisher : Prentice Hall Press; 2nd Edition November 1, Amazon Best Sellers Rank: 63, in Kindle Store. Bollinger on Bollinger Bands by John Bollinger. Book Details: Print Length : pages Publisher : McGraw-Hill Education Aug. Forex Trading: The Basics Explained in Simple Terms, by Jim Brown. Trading in the Zone" by Mark Douglas. Book Details: Print Length : pages Publisher : Prentice Hall Press Jan. The Alchemy of Finance by George Soros. Book Details: Print Length : pages Publisher : Wiley; or Later Printingth Edition June 15, Amazon Best Sellers Rank: 27, in Books.

Momentum, Direction and Divergence" by William Blau. Book Details: Print Length : pages Publisher : Wiley April 21 Amazon Best Sellers Rank: 1,, in Kindle Store. Technical Analysis of the Financial Markets by John J. Day Trading and Swing Trading the Currency Market, by Kathy Lien. Book Details: Print Length : pages Publisher : Wiley Dec 3 Amazon Best Sellers Rank: 1,, in Books. Currency trading for Dummies, by Brian Dolan. Book Details: Print Length : pages Publisher : For Dummies July 5 Amazon Best Sellers Rank: , in Books.

Conclusion The universe of foreign trade, or forex, can be overwhelming even to experienced active financial traders. Forex books are the initial steps to learning or refining your trading skills for some.

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Currency Trading Fd 3e For Dummies. Sort order. Unlike the stock market where when you buy a stock, you are just buying an asset, in forex, you buy a "pair". There are still a few questions in my mind that need answering. This hands-on, friendly guide shows you how the forex market really works, what moves it, and how you can actively trade in it — without losing your head! Paperback , pages. Jun 02, Togoldor rated it really liked it.

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