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Currency Trading For Dummies Paperback – July 5, 2011

3.6 out of 5 stars 34 customer reviews

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Editorial Reviews

About the Author

Brian Dolan has worked for more than 20 years in the forex market as a currency trader and analyst. As the Chief Currency Strategist at FOREX.com, Brian oversees fundamental and technical analysis and is a frequent resource for the financial media on currency developments.
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Read tips (PDF) from the author for choosing a broker for currency trading.

Product Details

  • Paperback: 360 pages
  • Publisher: For Dummies; 2 edition (July 5, 2011)
  • Language: English
  • ISBN-10: 1118018516
  • ISBN-13: 978-1118018514
  • Product Dimensions: 7.4 x 0.8 x 9.2 inches
  • Shipping Weight: 1.4 pounds
  • Average Customer Review: 3.6 out of 5 stars  See all reviews (34 customer reviews)
  • Amazon Best Sellers Rank: #573,072 in Books (See Top 100 in Books)

Customer Reviews

Top Customer Reviews

Format: Kindle Edition Verified Purchase
The author knows a lot about Forex and overall this is a must-read book for anyone into this market. However, the author doesnt explain what ecn/stp/dd brokers are (and why you should run away from dd), tries to make the reader think that opening an account outside the USA is riskier, and finally states that leverage above 50:1 isnt a good thing. Perhaps all this is because the Author works for a dd (dealing desk) brokerage in the USA, where leverage is limited... All in all you should read this book, but be critical and dont take every statement as absolute truth, as there are interests in play here.
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Format: Paperback Vine Customer Review of Free Product ( What's this? )
The "Dummies" formula is very good for getting started in this complex subject. Plain talk, helicopter view, organized. Headers let you jump between topics and skip topics as needed.

I haven't finished the book yet, but I can say that Brian Dolan is a very good writer and seems to know his topic. Some writers are unclear when explaining points they don't thoroughly understand themselves. Dolan's clarity and precision are impressive.
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I have been trading currency for about 5 years and this was a good refresher source book for me. Easy to understand and read. Currency trading is not for everyone, but you are think about doing it this would be a good starting book to read. Explains the market and how it works.
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Format: Paperback Vine Customer Review of Free Product ( What's this? )
Overall, I'm mixed on Currency Trading for Dummies. The book could have been structured much better to my mind and there are parts where I don't care for the way the author has talked about things. There are, though, also some pretty good, useful parts.

The discussion of forex trading mechanics could perhaps have been done better. I think the author too closely associates it with the likes of stock trading in terms of buying and selling. It makes the general point, but could leave some readers with the wrong impression of how things work in retail forex in that it may imply to readers there's actual currency ownership involved, which isn't the case.

I also found the section on order types rather clunky. It takes up much more space than is necessary to talks about stop and limit orders, even accounting for the different ways they are referred to in some cases.

Dolan does take a very thorough look at interest rates, monetary policy, and currency policy in his discussion of drivers of exchange rates, though. He goes into sources and types of information and the major economic and other data elements that go into forex market analysis. This includes a listing of the key reports for each of the major economies, though I would suggest that these things tend to change in importance over time.

The section of the book I think a lot of readers will find most valuable is the one which goes through the major currency pairs and talks about their individual characteristics. This isn't something I've seen done in such detail in other books. This includes both technical and fundamental considerations for those pairs.

There's also a good section on risk.
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Format: Kindle Edition
The book is *laden with technical jargon* which the author doesn't even bother to explain. The book has no glossary either. It is a gross misrepresentation of the "Dummies" logo, and I had to put it aside for now. If you are a beginner in forex trading, I can heartily recommend Anna Coulling's Forex for Beginners.
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Format: Paperback
The author works for Gain Capital/ Forex.com. They make large amounts of money from private individuals who attempt to trade forex. The first thing to know about forex trading is that approximately 90% of traders lose money (this is an industry insider estimate), and that this will be lost quite quickly due to the leveraged nature of the product. Any good book on forex for beginners should have this a bold characters at the start of every chapter. The second thing to know is that it is one of the most difficult markets to trade.

This author is in effect encouraging people to lose money, and his company, one of the biggest forex brokers (outside the 5 or 6 major banks who offer forex trading accounts to private individuals ) will be among those who take that money.
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I originally checked this book out, from the Library...in fact...I checked it out several times. Since the Library requests, that you return their books, I finally decided I needed this one, on my own personal Forex Training/Educational shelf.
Even though it is written, by a GAIN Capital Strategist, the information is presented in an unbiased and completely educational mode.
I would highly recommend this book, to anyone planning to learn how to trade in the Forex Market.
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Format: Paperback Verified Purchase
Brian Dolan has a easy practical approach to helping the new trader make sense of the market, general knowledge of the terms, and practical steps toward a successful trade plan.
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