Currency Trading For Dummies


Needs to review the security of your connection before proceeding. It is free to join-just give us your Name & Phone Number to start tracking your book purchases. Mark Galant founded GAIN Capital in 1999; today, the firm’s proprietary trading platform is used by clients from 140 countries around the globe. EXNESS— a good company because you can start trading Forex with as little as 1$, use both MetaTrader 4 and MetaTrader 5 platforms. It accepts multiple deposit and withdrawal methods, including WebMoney, Skrill, and Neteller.


Because of the way currencies are quoted and because currency rates move up and down all the time, going short is as common as being long. Throughout this book, I approach currency trading from those two perspectives, looking at them separately and blending them together to give you the information you need to trade in the forex market. If you’re ready to learn about Forex lot size in this currency trading for beginners guide, then go watch this video right now. If you are interested in a half year duration see 6 month car insurance for helpful tips on the topic.

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I begin with an overview of the currency market and how it’s the ultimate traders’ market. Next, I run you through a global currency trading day, so you know what to expect. I also examine how currencies and other financial markets are interconnected. Then I show you who the major players are and look at their strategies and motivations for trading in the currency market. 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.

  • Most important, I want to caution you that trading without a plan is a surefire recipe for disaster.
  • Stay aware of the pricing in and pricing out of market expectations that occur in advanceof data and events.
  • The OverDrive Read format of this ebook has professional narration that plays while you read in your browser.
  • Investing is about minimizing risk and maximizing return, usually over a long time period .
  • Paul Mladjenovic is a renowned certified financial planner and investing consultant.

But if you just want to learn how to trade Forex you will know the basic of currency pairs. The biggest difference between equity and forex trading is that in equities normally the pair is a stock/cash. In Forex it’s one type of cash for another type of cash so it can be confusing for people how to enter positions or exit positions.

Currency Trading for Dummies #9: The Different Types of Forex Analysis

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. Brian Dolan has over 18 years of experience in the foreign exchange markets and oversees fundamental and technical research at This book is going to teach you the do’s and don’ts of forex, to help you avoid the most common mistakes traders make. Why not learn from experts who have already done things incorrectly? By learning what not to do, you have a leg up against anyone else who tries to enter the forex market without proper knowledge. The difference between profit and loss is always going to be your knowledge of how to invest in the forex market.

On the one hand, currency trading is speculation, pure and simple, just like buying an individual stock or any other financial security in the hope that it will make a profitable return. On the other hand, the securities on which you’re speculating are the currencies of various countries. Viewed separately, that means currency trading is both about the dynamics of market speculation, or trading, and the factors that affect the value of currencies.

PART 1 – Trading The World’s Largest Financial Market

When liquidity is high, the spreads will be tightest. During volatile market conditions and around major news events, spreads will naturally widen. However, the amount of variability can really differ among brokers, so make sure you understand how wide spreads can go when the market’s really moving. Forex — the foreign exchange market is the biggest and the most liquid financial market in the world. Trading in this market involves buying and selling world currencies, taking profit from the exchange rates difference. FX trading can yield high profits but is also a very risky endeavor.

Top 5 Forex Trading Books for Beginners – Investopedia

Top 5 Forex Trading Books for Beginners.

Posted: Sat, 25 Mar 2017 17:13:20 GMT [source]

It’s been around for years, but advances in electronic trading have now made it available to individual traders on a scale unimaginable just a few years ago. But just because currency trading is more accessible doesn’t mean it’s widely understood. This book refers to how the foreign exchange market works, what factors influence currency values, and how to understand financial data. For individual traders, overall liquidity in the major currency pairs is more than sufficient, with generally orderly price movements. In some less liquid, non-regional currencies, like GBP/USD or USD/CAD, price movements may be more erratic or nonexistent, depending on the environment. With no Canadian news out for the next 12 hours, for example, there may be little reason or interest to move that pair.

A highly liquid market like forex can see large trading volumes transacted with relatively minor price changes. An illiquid, or thin, market will tend to see prices move more rapidly on relatively lower trading volumes. A market that only trades during certain hours also represents a less liquid, thinner market. Even after you’ve exited the position, your work is not done. If you’re serious about currency trading as an enterprise, you need to review your prior trades for what they tell you about your overall trading style and trade execution. Most important, reviewing your trading results is how you stay focused and avoid lapses in discipline that could hurt you on your next trade.


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What you decide to do after this lesson is up to you, but at least you will have a greater chance of stepping over the 70% of fatalities that refuse to face facts. I recommend beginners should have atleast fundamental idea of forex before starting this book. I been working in equities for the last 5 years now with a firm and I am pretty well versed in most of what goes on in the financial markets. It’s weird I didn’t know know much about forex/currency since everyone at some point in their life will do a forex trade or another if they travel or change currencies. 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.

When 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. You can jump straight into the action with expert guidance from the hands-on Currency Trading For Dummies.

Welcome to video #11 of Currency Trading for Dummies — the different types of Forex analysis. Welcome to video #10 of Currency Trading for Dummies — the different types of Forex analysis. Welcome to video #9 of Currency Trading for Dummies — the different types of Forex analysis. Welcome to video #7 of Currency Trading for Dummies — how to read a Forex chart. Welcome to video #4 of Currency Trading for Dummies — common Forex trading terminologies.

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