Mastering the Currency Market: Forex Strategies for High and Low Volatility Markets [Hardcover]

Jay Norris (Author), Teresa Bell (Author), Al Gaskill (Author)

Book Description

Publication Date: November 9, 2009

Make Volatility and Risk Work for You with Forex Trading!

“This book should be in every trader/investor’s library. As we come out of this depressed market . . . this book can be your companion, helping you avoid mistakes and enhance your trading/investment program.”
—Bill M. Williams, author of Trading Chaos

“Whether you’re just getting started trading the world’s most exciting financial market, or you’re looking to add to your trading edge, [the authors] have written an engaging book packed with powerful techniques that you can use right now.”
—Rob Booker, trader, author, educator, and founder and host of TraderRadio.net

The foreign exchange market is the largest trading market in the world, with average daily volume well into the trillions. Because the market is always characterized by high liquidity, forex traders benefit most from volatile markets—making it the ideal investment approach today and well into the future.

Mastering the Currency Market is a comprehensive guide to currency and futures trading strategies and techniques for both highly volatile and nonvolatile markets.

Putting to work their vast and highly diverse experience in forex trading, the authors explain how to take advantage of the many benefits of foreign exchange trading, including its low cost of entry afforded by margin, and the dynamic pricing by nature of the competitive marketplace. Mastering the Currency Market is divided into five sections covering:

• The basics of trading currencies
• Fundamental analysis of price valuation
• Technical analysis and trading charts
• Trading philosophy and psychological discipline
• Volatility and risk management

With four decades of combined experience, the authors clearly communicate to you a trading method that will give you the confidence to both analyze markets and execute trades successfully, regardless of underlying market conditions.

As 2008 introduced nightmare scenarios for investors around the world, it was Al Gaskill’s most productive period of his trading career. He used the same trading methods spelled out in this book.

Apply the lessons inside and you’ll see profits rise during periods of high market volatility, and when the market slows down, you can downshift to countertrending methods. It’s a win-win investing method, and Mastering the Currency Market leads you through it every step of the way.

Editorial Reviews

From the Back Cover

Make Volatility and Risk Work for You with Forex Trading!

“This book should be in every trader/investor’s library. As we come out of this depressed market . . . this book can be your companion, helping you avoid mistakes and enhance your trading/investment program.”
—Bill M. Williams, author of Trading Chaos

“Whether you’re just getting started trading the world’s most exciting financial market, or you’re looking to add to your trading edge, [the authors] have written an engaging book packed with powerful techniques that you can use right now.”
—Rob Booker, trader, author, educator, and founder and host of TraderRadio.net

Forex traders perform exceptionally well in highly volatile, risky, and active markets. And with the leveling out of international markets and the increase in competition this breeds, dramatic growth is virtually assured—so now is the time to enter this exciting and lucrative market.

Mastering the Currency Market walks you through all the steps for entering the market with the confidence and smarts you need. It provides a solid foundation on the basics of foreign exchange, then examines more advanced topics, such as:

• Hedging against fluctuations in currency values
• Long-range planning and risk management
• Techniques applicable to countertrending and low-volatility markets

About the Author

Jay Norris is a senior market strategist and trading instructor for BrewerFX in Chicago. He worked on the trading floor of the Chicago Board of Trade throughout the 1980s and 1990s in various roles before moving to the customer side of the business in 2001. He has published several articles about trading in Technical Analysis of Stocks & Commodities magazine.
Al Gaskill is an independent trader, an instructor, and a principal in Brewer Investment Group.
Teresa Bell is an educator for www.Trading-u.com.

Product Details

• Hardcover: 288 pages
• Publisher: McGraw-Hill; 1 edition (November 9, 2009)
• Language: English
• ISBN-10: 0071634843
• ISBN-13: 978-0071634847
• Product Dimensions: 10 x 6.5 x 1.5 inches
• Shipping Weight: 1.3 pounds (View shipping rates and policies)
• Average Customer Review: 4.5 out of 5 stars  See all reviews (10 customer reviews)
• Amazon Best Sellers Rank: #350,054 in Books (See Top 100 in Books)
  • #64 in Books > Business & Investing > International > Foreign Exchange

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Customer Reviews

Most Helpful Customer Reviews

39 of 45 people found the following review helpful:

1.0 out of 5 stars Nothing But Basic TA, November 20, 2009

By 

Mr. Allnut "Charlie" (United States) - See all my reviews

Amazon Verified Purchase

This review is from: Mastering the Currency Market: Forex Strategies for High and Low Volatility Markets (Hardcover)

I trade futures, stocks and options, with futures now making up the bulk of my trading. I am very interested in learning currencies and gaining additional flexibility in my trading. I came across this book and saw it was a new publication so I pre-ordered. I assumed it would have the latest inside information on currencies and how best to trade them. After the all, the title is "Mastering the Currency Market, Forex Strategies for High and Low Volatility Markets". I have to say that I was sorely disappointed.

The editorial review says the book is divided into these sections:

* The basics of trading currencies
* Fundamental analysis of price valuation
* Technical analysis and trading charts
* Trading philosophy and psychological discipline
* Volatility and risk management

The first 2 sections are the only parts of the book that offer anything unique to currencies. And out of a 292-page book, these sections end after only the first 48 pages. The rest of the book is a basic technical analysis indicator training manual with some candlestick signals thrown in the mix. Starting with simple candlesticks, covering basic chart patterns and looking at multiple time frames for trade confirmation. The book ends with a short treatise on psychology and trading journals, subjects that have entire works dedicated solely to them. There are no unique "Forex" strategies, just basic technical analysis education.

Chapter 1 discusses the basics, names of currency pairs, market times, etc.

Chapter 2 although seemingly lacking real depth may give the most insight to someone interested in mastering currencies. It discusses economic factors affecting currencies and the price movement. There is a handy chart showing economic reports and the usual effect they have on individual currencies.

There is no detailed insight to the individual currency trading instruments or to the Forex market in general. Interesting, the title suggests strategies for high and low volatility. Looking in the book's index, volatility is discussed on one page, in one small paragraph, and it is a less than an introductory discussion. Which Forex strategies work best in which type of market? Where are the high and low volatility examples? What are the best pairs to trade? How do we hedge? Is there any currency correlation? We may never know.

It would have been simpler for the authors to write the first 2 chapters and then add a page that says, "Apply standard technical indicator trading techniques to the currency market." and end the book there.

If you were a beginner trader, I would say you could add this to your library. However there are hundreds, maybe thousands of technical analysis books on the market, many better than this. We surely do not need another one.

Perhaps a better name for the book would have been "A Beginners Guide to Technical Analysis: With some Forex pairs used as examples." Had that been the name, I would have saved myself the return shipping. 2 stars for basic technical analysis, 1 star for any real Forex insight.

One thing to take in account on all Amazon reviews. Reviewers who have only reviewed the item you are researching should be subject to suspicion. Click on the username to see if the reviewer has any history on Amazon and make your choice wisely.

8 of 10 people found the following review helpful:

5.0 out of 5 stars Great Forex Book, July 1, 2010

By 

Joe Minotti - See all my reviews

Amazon Verified Purchase

This review is from: Mastering the Currency Market: Forex Strategies for High and Low Volatility Markets (Hardcover)

Great Book !!

This is a great Book for Forex Traders and anyone who wants to learn about Forex. The Book is straight forward and simple to understand. I've been trading for a while and I still found this book more than just a review. I like how the author pulls everything together in Chapter 9. Here, the book goes beyond just the technical's and shows you how to pull it all together. For me, the trade signals/triggers were helpful. The strategy was different from what I use and this book laid out a better way. I'm now using the new information in my trading and it really helps.
This book is not just about tech analysis. If you are looking for a book on "only" technical analysis there are others you might find more helpful. Personally, I think technical analysis is really simple. The hard part is applying the technical's to a moving market so you can make money. That is what I like about the last chapters in the book. The principals are sound and overall I would recommend this book to anyone looking to better their Forex trading.

5 of 9 people found the following review helpful:

5.0 out of 5 stars Excellent currency trading education, February 14, 2010

By 

Ramona Renner (Bellevue, WA USA) - See all my reviews
(REAL NAME)   

Amazon Verified Purchase

This review is from: Mastering the Currency Market: Forex Strategies for High and Low Volatility Markets (Hardcover)

I recently started studying with Jay Norris and his currency trading method. Previously I had 5 years of currency trading education but was not as successful with the methods I had learned and was using. What I found to be the most helpful with Jay's approach was teaching me what information I should DISGARD in identifying a set up. He really helped me refine my shorter time frame trading, which is very helpful in this market with these market conditions. I also found it extremely refreshing to not have to box myself into whether I traded fundamentally or technically. This method really focuses in on the price action on the right side of the chart and how to best identify a trade set up so you don't miss a great trade on ANY time frame. Jay has also helped teach me to look at "fact based trades" versus trading emotionally. I finally can discipline myself so much easier with this method. Best of all, Jay is very personable and loves what he does for a living.