Getting Started in Currency Trading: Winning in Today's Forex Market [Paperback]

Michael D. Archer (Author)

Book Description

Publication Date: April 26, 2010 | Series: Getting Started In..... (Book 86)

An accessible introduction to trading currencies

While the Foreign Exchange (Forex) market can be a very profitable place, you must have a firm understanding of how to operate within this environment if you intend on achieving any success.

That's why you need Getting Started in Currency Trading, Third Edition. This reliable resource-written for both newcomers and those with some Forex experience-puts trading world currencies in perspective, and shows you exactly what it takes to make it in this field.

• Guides you through the process of opening your own account as well as the actual placing and managing of currency orders
• Offers specific trading strategies and tactics
• A companion Web site will provide updates on brokers and FOREX services; an author's Blog will answer your questions about all aspects of trading
• Includes a new chapter on Forex trading platforms
• The often confusing FOREX calculations are reduced to handy computer-side tables

On the heels of the recent market crash, this fully revised Third Edition is filled with in-depth insights and practical advice that takes into account all of the recent changes in the currency market and shows you how to profit from them.

Editorial Reviews

From the Back Cover

The Foreign Exchange market (Forex) is now more than a $4 trillion-a-day financial market. Its tremendous growth and ease of accessibility have attracted the interest of many traders. But in order to excel in this arena, you have to have a firm understanding of how to operate within it.

That's why Michael Duane Archer has returned with the Third Edition of Getting Started in Currency Trading. This reliable resource—written for both newcomers and those with some Forex experience—puts the world of Forex at your fingertips and shows how to tap into this market's incredible potential. Divided into six comprehensive parts, it:

• Guides you through the process of opening your own account as well as the actual placing and managing of currency orders

• Discusses specific trading strategies and tactics, and addresses the advantages and disadvantages of fundamental and technical analysis

• Includes a new chapter on Forex trading platforms

• Reduces often-confusing Forex calculations to handy computer-side tables

• Details the psychology of trading and how to successfully manage the stresses that may accompany this endeavor

• Features a companion Web site providing updates on brokers and Forex services

On the heels of the recent market crash, this fully revised Third Edition is filled with practical advice that takes into account all of the recent changes in the currency market and shows you how to profit from them.

About the Author

Michael Duane Archer has been an active commodity futures and Forex trader for over thirty years. He has worked in various advisory capacities, notably as a commodity trading advisor and an SEC-registered investment advisor. Archer hosts the Forex Web site, www.goodmanworks.com. He is also the author of the first two editions of Getting Started in Currency Trading, as well as Getting Started in Forex Trading Strategies, and coauthor of The Forex Chartist Companion, Charting the Major Forex Pairs, and Forex Essentials in 15 Trades, all published by Wiley.

Product Details

• Paperback: 352 pages
• Publisher: Wiley; 3 edition (April 26, 2010)
• Language: English
• ISBN-10: 0470602120
• ISBN-13: 978-0470602126
• Product Dimensions: 9.3 x 6.3 x 0.9 inches
• Shipping Weight: 1 pounds (View shipping rates and policies)
• Average Customer Review: 4.0 out of 5 stars  See all reviews (4 customer reviews)
• Amazon Best Sellers Rank: #43,728 in Books (See Top 100 in Books)
  • #8 in Books > Business & Investing > International > Foreign Exchange

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Customer Reviews

Most Helpful Customer Reviews

19 of 22 people found the following review helpful:

5.0 out of 5 stars Good forex book does not always mean putting a hole in your pocket, March 7, 2011

By 

Andoko Darta (Indonesia) - See all my reviews
(REAL NAME)   

This review is from: Getting Started in Currency Trading: Winning in Today's Forex Market (Paperback)

Novice traders and those with some experience could get a lot of benefits from this book without a lot of dollars.

This book is divided into 6 parts as follows :

1. The foreign exchange markets - forex landscape, a brief history and two ways to trade forex

2. Getting started - regulations, forex lexicon, trading tables, a guide to forex brokers, opening a forex account and making the trade

3. The tools of the trade - fundamental analysis, technical analysis, a trader's tool box, the forex market place and retail forex platforms

4. The complete forex trader - the plan, money management, psychology of trading and improving your trading skill

5. Extra for experts - options and exotics, computers and forex

6. Appendixes

It is nice to be able to download forms and tables in this book from its companion website. In term of delivery the author has managed to describe complex forex aspects into plain English.

May the pips be with you!

8 of 9 people found the following review helpful:

5.0 out of 5 stars Balanced and More Than a Beginner Book, September 6, 2011

By 

Matty G - See all my reviews

This review is from: Getting Started in Currency Trading: Winning in Today's Forex Market (Paperback)

The Getting Started... Series has a very specific template and follows the similar ...for Dummies format. The author really shines in his tenor and script as well as his organization and dissemination within the framework but adds more depth than standard books in either series; they sometimes lack flow and cohesiveness. Some warnings: he has a large subject matter to cover and it is not one that should be learned from one author or book. In the same subject matter I highly recommend to supplement Forex Training with the educational online course at [...], it's free, incredibly extensive and excellent, save for continuously selecting the next course, a downloadable complete .PDF file of the course would have been nice instead of the sole web based navigation. This book works well as the replacement to having that course in a text format. This book strengths are its currency and applicability to the latest in platforms, brokerages, some web sites, and providing the background of many of the exchanges. The charts cut to the chase on pip pricing, Risk/reward ratios, and position sizing. Stop losses and Taking profit points are stressed as well. Weaknesses:For a true beginner student, I would recommend delving much deeper into fundamental and technical studies in other texts, this edition makes some excellent recommendations for those studies. Including John Murphy's Financial Analysis of the Technical Markets, which I feel is the one book any trader worth his/her salt should have. Conclusion:I haven't found a better book for currency traders in their larva stage and as one of prepubescent traders I enjoyed reading it and learned a great deal.

1 of 1 people found the following review helpful:

1.0 out of 5 stars Very simplistic, January 18, 2012

By 

Jackal (New Hampshire) - See all my reviews
(TOP 1000 REVIEWER)   

This review is from: Getting Started in Currency Trading: Winning in Today's Forex Market (Paperback)

A bit of everything. What is forex? What is a broker? What is technical analysis? What is fundamental analysis? What is money management? Do you want to make some extra money? Write a forex book every year or so. That seems to be the strategy of the author. At least this particular book is just 13 dollars.