Currency Trading For Dummies (For Dummies (Business & Personal Finance)) (Paperback)

by Mark Galant (Author), Brian Dolan (Author)
Key Phrases: online forex brokers, minor currency pairs, lot position size, Moving Currencies, Driving Forces Behind Forex Rates, United States (more...)

Editorial Reviews

Review
"It offers practical guidance and savvy tips.." (Hedge Fund Manager, Thursday 23rd August) 

"…gives readers a step by step guide (to) getting acquainted with the forex market and to making those killer transactions." (Professional Pensions, Thursday 30th August 2007)

Product Description
Features forex market guidelines and sample trading plans

The fun and easy way to get started in currency trading

Want to capitalize on the growing forex market? This nuts-and-bolts guide gives you a step-by-step action plan for understanding and trading the forex market. It offers practical guidance and savvy tips in everything from comprehending currency quotes to using leverage, trading with fundamentals, and navigating technical analysis.

• Identify trading opportunities
• Understand what drives the market
• Choose a trading broker
• Execute a successful trade
• Minimize risk and maximize profit
• Analyze currency charts

See all Editorial Reviews

Product Details

• Paperback: 360 pages
• Publisher: For Dummies (August 6, 2007)
• Language: English
• ISBN-10: 0470127635
• ISBN-13: 978-0470127636
• Product Dimensions: 9.1 x 7.2 x 0.9 inches
• Shipping Weight: 14.1 ounces (View shipping rates and policies)
• Average Customer Review: 4.4 out of 5 stars See all reviews (25 customer reviews)
• Amazon.com Sales Rank: #1,845 in Books (See Bestsellers in Books)

  Popular in these categories: (What's this?)

  #1 in	Books > Business & Investing > Finance > Foreign Exchange
  #2 in	Books > Professional & Technical > Accounting & Finance > International > Finance
  #5 in	Books > Business & Investing > Economics > Money & Monetary Policy

Customer Reviews

Most Helpful Customer Reviews

51 of 53 people found the following review helpful:

5.0 out of 5 stars Best Beginner Book on FX Trading Currently on the Market, February 3, 2008

By	justsomeguyinla "justsomeguyinla" (El Monte, CA United States) - See all my reviews

Overall, I thought this book gives a great overview on how and when the Interbank FX market operates, a basic overview of technical analysis, and some useful tips on practical matters of trading like how to choose a broker/platform and what to consider when setting up a trade. Having traded the Forex market for over 2 years now and having read a number of books specific to Forex trading, I think this book is the best book geared toward novice traders currently available.

However, I felt this book could have done better in a few areas: it walks you through considerations to construct a trading plan but doesn't provide a detailed example of one (preferably the authors'). This book actually walks through a trade set up (shorting the USD/JPY) and details the things to consider, but it was picked seemingly at random (based on a double doji) and not from some back tested trading methodology. Also not covered in the book are tools to effectively back test strategies and what a sample trading journal should look like.

But like I said at the beginning, this book is a lot better than most of the other FX trading books you find on retail book stores/sites--books that are filled with marketing fluff and little practical guidelines to actual trading. Currency Trading for Dummies actually has a lot of substance and value for the novice trader.

43 of 45 people found the following review helpful:

5.0 out of 5 stars Best Forex Trading Book Period!!!!!!!, January 31, 2008

By	H. Pennix "H.Pennix" (Daytrade,USA baby!!!) - See all my reviews (REAL NAME)

I thought this book would be typical nuts and bolts book.I was soooo wrong.
This book is a book of strategy,fundamentals,mental game and a lot more. If you are just starting or a veteran purchase this book... It gives you those jewels that you hear and wonder," where that come from?". The indicator section is the best. So many traders are always trying out the new indicator. Truth be told they all are the same. Your overall package as a trader is what makes you profitable, not 50 moving averages crossing. I hope I helped someone to make a proper choice in a great overall book on Forex. Forex is the best market out here period, but the books and information available are lacking real substance. Do not let the title fool you. This book is written by owners of Forex brokerages. They hold nothing back. This book is for dummies and pros a like.

45 of 54 people found the following review helpful:

5.0 out of 5 stars Currency Trading Primer, August 31, 2007

By	Harry Moyson "Boekenworm" (Grimbergen, Belgium) - See all my reviews (REAL NAME)

Covers the field of currency trading for a beginner very extensively. Take it together with "Technical Analysis for Dummies", and exercise on a few demo currency trading accounts for about three months. Then you can start trading on a real account like a real pro.