"As governments sacrifice the value of national currencies tomeet policy goals, currency diversification is no longer just anoption. It is necessary for the prudent investor's financialsurvival. In The Sensible Guide to Forex, Cliff Wachtelprovides a road map to the confusing landscape of foreign exchangecurrency trading. He takes you from complete ignorance about forextrading to the competence necessary to profit from trading whileprotecting the hard earned capital required to enter the market. Ifyou are serious about succeeding in forex, here is a saneconservative approach for individuals interested in gains either astraders or longer-term investors with no interest in directlytrading currencies. A highly recommended read."—DICKSON YAP, Publisher of The Trader'sJournal and Forex Journal
"Possibly the best introduction to forex you can find, whetheryou're an aspiring trader or long-term investor who is interestedin adding more diversification to your portfolio. It covers thefundamentals clearly and comprehensively, then applies them withdetailed examples of how to identify, plan, and execute low-riskhigh-yield trades. It then provides a vast variety of ways toprofit from forex markets that will appeal to a range of skilllevels, risk tolerances, and personalities, even to long-terminvestors just seeking to identify the strongest forex trends andbest assets to ride those trends. These include the first everin-depth look at the innovations in forex trading, social trading,and binary options. Both simplify and shorten the path to lowerrisk and higher yield returns. The extensive coverage of riskmanagement and the psychological dimension shows you how to survivethe learning period with your capital and confidenceintact."—JONATHAN ASSIA, CEO ofeToro
"Like a fine wine of investment wisdom, Wachtel's advice hasbeen honed and improved over decades of learning and teaching,doing and inspecting, scrutinizing his own work and the work of thegreats. Surely one of the best theorists around onforex—heck, on investing—Wachtel has delivered awhopper of value-packed, sage goodness in his Sensible Guide toForex, perfect for the beginner and more advancedvalue-oriented investor. Warning: once you read this book, youcan't help but begin using forex as an integral part of yourinvestment strategy. But don't worry, Cliff will shepherd youthrough, every step of the way."—ZACKMILLER, author of TradeStream Your Way to Profits:Building a Killer Portfolio in the Age of Social Media and founderof Tradestreaming.com
"If you want to be a successful forex trader or investor, CliffWachtel has written a book that you just can't afford to miss. TheSensible Guide to Forex delivers exactly what it promises, 'safer,smarter ways to prosper from the start.' Here you'll find anarsenal of trading tools to get an enormous advantage over yourcompetition. But it's not just another trading book. It also showslong-term investors how to use currencies for effectivediversification and potential profits. Cliff is a leading forexexpert, he knows how to write, and this one's a homerun."—JOHN NYARADI, Publisher of Wall StreetSector Selector
"The must-own forex book for all of us, even those who willnever trade forex. Uniquely designed for the mainstreamconservative trader or investor, the book offers traders a clearand comprehensive foundation, then shows how to apply it in avariety of safer, less demanding approaches to suit a range ofpersonalities, needs, and risk tolerances. It shows long-terminvestors how to identify the strongest long-term currency trendsand build an investment portfolio that rides those trends for lesscurrency risk and better overall returns. Better still, it's theonly forex book with an exclusive in-depth look at the fastestgrowing ways to play forex, binary options and social trading, andobjectively examine their pros and cons. Used properly, it offersrisk control that will improve returns for traders and investors ofall levels. It's forex for the 99 percent!"—JACK (KOBI)SHAFRIR, CMO of anyoption.com
“This is the one forex book aimed at conservativemainstream investors who might never otherwise consider forex, butshould because we all need currency diversification. Even those whonever plan to trade will find a wealth of information that willmake them better investors. This step-by-step guide to lessdemanding and lower-risk ways to trade or build acurrency-diversified investment portfolio offers a lessintimidating path to forex profits.”—YohayElam, Founder of Forex Crunch
“Cliff Wachtel’s book provides pragmatic counsel andguidance. A must read for serious investors seeking to diversifybeyond stocks, bonds, and gold.”—Dave Lemont,CEO, Currensee
“A must read for any informed investor or traderthat deserves to become the classic introduction to forex.This book is the ideal shortcut to simpler, safer forex trading orinvesting. As Cliff succinctly puts it, ‘The need forcurrency diversification is one of the most important lessons ofthe Great Financial Crisis.’ This book details—withgenuine respect for his readers’ money andintelligence—a range of solutions, offering something forreaders of every skill level and risk tolerance. Wachtel providesfull details and illustrations to show you how to actually makemoney, without overloading you with secondary details orinformation you can find elsewhere.”—EricHarbor, CEO, Caesartrade.com
“One of the best starting points I have read about forex.Understanding both the big picture and the essential, practicaldetails of how to identify, plan, and execute a profitable trade isthe manna of successful traders. Cliff delivers both. He explainswhat e. e. cummings called ‘the root of the root and the budof the bud and the sky of the sky of a tree called life,’ butapplied to the forex world. A really good tool, whetheryou’re a newbie forex trader or a long-term traditionalinvestor trying to build a diversified portfolio. Read it and youwill get ‘forexpertise.”’—MauricioCarrillo, FXstreet.com U.S. Manager, @MCarrilloFX
“This book is an insightful introduction to the world offorex. Wachtel leads the novice trader on a journey of discoveryfrom the most basic concepts in the forex market to moresophisticated trading strategies. What stands out is his honesty.Wachtel doesn’t sugarcoat the FX market; instead he sharesthe idiosyncrasies of this market and debunks a few FX myths alongthe way. He also introduces some of the latest developments in theretail forex market, from social trading to binary options.Wachtel’s broad knowledge of this market makes this book aninteresting read for those who want a thorough insight into theworld of FX.”—Kathleen Brooks, ResearchDirector, Forex.com
“In an ever-evolving field, it’s rare to find aguidebook so helpful and timeless as Cliff Wachtel’sSensible Guide to Forex. This book gives both currenttraders and new traders the perspective they need to take theirforex trading to the next level.”—TalHoltzer, CEO, www.dailyforex.com
“This is a fantastic, comprehensive, and up-to-dateoverview and practical guide to succeeding in the foreign exchangemarket, with an insightful, qualitative, and non-intimidatingapproach. Whether you are a novice considering a move into theforeign exchange market or an experienced trader looking for adeeper understanding of various concepts or some new approaches,Cliff’s book does a stellar job of covering all thebases.”—Joel Kruger, Currency Strategist,FXCM
“Cliff’s book is a must-read, cogent, cohesivecompendium of the realities of forex. I’ve been in thetrading business for 35+ years and believe that success is allabout intelligent risk management. The book’s relentlessemphasis on risk and money management is the reason that this isthe first investment book I’ve bothered to finish in the past20 years. For the novice, first he arms you with the relevantinformation to keep you from immediately losing your shirt, so thatyou survive the learning process with most of your cash andconfidence intact. Then he takes you step-by-step through a numberof paths to profitability. For the professional, he reminds us ofthe rules we all strive not to violate every day becausewe’re human. He also provides the first in-depth coverage oftwo new and potentially very useful ways to tap forex—socialtrading and binary options. This book is the only source I’vefound for in-depth and objective coverage of either of theseintriguing new ways to trade forex markets with potentially lesseffort and better returns.”—David Israel,Chief Market Strategist, White Wave Trading Strategies, Ltd. www.whitewavetradingstrategies.com
No reasonable person would invest everything in one asset, oreven one asset type, or sector. Yet most people have virtuallyeverything they own tied to the fate of a single currency. Asrecent years have proven, failure to diversify currency exposure isamong the most deadly and widespread investor mistakes.
As governments strive to revive their economies with endlessstimulus programs, they risk killing the value of most majorcurrencies, and any portfolio too heavily weighted in them.
While the glaring need for currency diversification as part ofany prudent financial planning is now obvious, the solutions arenot, nor are they easy to find. The usual kinds of foreign exchange(forex) trading methods are too risky, complex, and demanding formost people. Most who try them fail within a matter of months.
An entire generation of mainstream investors needssolutionsfast. Moreover, they need a wide range of methods tohedge currency risk to fit a variety of needs, and they need themclearly and completely explained, and gathered up in oneeasy-to-find source.
Finally, here it is.
After years of research, financial guru and market veteran CliffWachtel has written the first and only book that provides ways toexploit forex markets to hedge currency risk that are lessdemanding and risky than the usual forex trading strategies.Whether you're an active but prudent trader, or a passive investorseeking a steady currency-diversified income stream, there aresolutions here to fit your needs.
It's an ideal starting point, neither too superficial nor toocomplex, and it avoids the time-consuming, complex, high-riskmethods at which most traders fail. For passive investors, it's aunique guide to considering not just the prospects of a specificinvestment, but also the health of the currency in which you getpaid, and how that currency can affect your real risk andreturns.
The Sensible Guide to Forex offers a gimmick-free,step-by-step road map to identifying, planning, and executingtrades or long-term income investments offering the bestrisk/reward profile, while avoiding serious losses that drain yourcapital, confidence, and motivation. It provides detailedexplanations of a panoply of methods for hedging currency risk andimproving returns that are no riskier or complex than thosecommonly used for stocks or bonds, while offering some significantadvantages unique to forex markets.
It's the ultimate beginners guide to actually making money inforex. It's packed with alternative and new approaches to forex foractive traders and passive investors, in-depth coverage of the keyaspects of trader psychology, risk and money management techniquesidentifying and exploiting the most reliable long-term forex andcommodity trends, and much, much more. It also provides anobjective, in-depth look at two new and powerful ways to tap forex:social trading that mimics every move of expert traders, and binaryoptions.
Since the start of the Great Recession in 2007, currencydiversification has become the great unsolved investor dilemma.The Sensible Guide to Forex is the ideal starting point foranyone seeking the safest, smartest solutions.
Visit www.thesensibleguidetoforex.com for more information aboutthis book, additional bonus material, new advice and ideas fortraders and investors, and additional resources on simpler, saferways to lower risk and improve your returns via currencydiversified investing or conservative forex trading.