Trading in the Global Currency Markets Second Edition [Hardcover]

Cornelius Luca (Author)

Book Description

Publication Date: July 4, 2000

The foreign exchange market is the world's largest and fastest growing financial terrain. Despite its high trading volume, it is also a market little understood and little regulated. This definitive resource brings the universe of foreign exchange within reach of every investor. The revised edition includes complete comprehensive coverage of the euro and the latest historical and economic changes in the market.

Cornelius Luca, a renowned authority on international investing, draws on the insights of leading experts in diverse fields of specialty to explain every crucial aspect of foreign exchange. He provides investors with an arsenal of trading weapons, many on the cutting edge of technology.

Editorial Reviews

About the Author

Cornelius Luca is a foreign currency market expert with more than twenty years of experience in international finance. Also the author of NYIF's Technical Analysis Applications in the Global Currency Markets, he teaches classes and seminars at the New York Institute of Finance and the Center for Financial Engineering in Washington, D.C. He lives in Millwood, New York.

Product Details

• Hardcover: 576 pages
• Publisher: Prentice Hall Press; 2 Sub edition (July 4, 2000)
• Language: English
• ISBN-10: 0735201463
• ISBN-13: 978-0735201460
• Product Dimensions: 8.9 x 6 x 1.8 inches
• Shipping Weight: 1.9 pounds
• Average Customer Review: 3.8 out of 5 stars  See all reviews (28 customer reviews)
• Amazon Best Sellers Rank: #1,178,963 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

55 of 59 people found the following review helpful:

1.0 out of 5 stars A 3rd Edition is called for . . ., April 19, 2004

By 

"flotsam34" (Delray Beach, FL United States) - See all my reviews

This review is from: Trading in the Global Currency Markets Second Edition (Hardcover)

In 2000, when this edition was released, it most probably provided a fair introduction and overview to the global forex market, but not for individual traders.

However, its use to traders, especially individual traders is limited. Since 2000, there has been an almost explosive growth in the number of forex market-makers and brokers, catering to the individual traders, making it possible and very easy for the individual to trade forex on the inter-bank system. One can now start trading a mini forex account with only $300 !!

These critical new developments in the forex trade, are unfortunately not covered in Mr Luca's book - hence my call for a 3rd edition. The amount of information contained in the various broker's websites - inclusive of "How to" sections, "FAQs", tutorials, and other background information, pretty much contains most of the info presented in Mr Luca's book, with the exception of forward contracts and options.

The Technical Analysis information presented, is similar to the stock market, but not covered extensivley. So, if you already have that knowledge, you wouldn't need to purchase this book to start trading forex. If you need to acquire this knowledge, then I would suggest any one of the excellent in-depth books on the topic of technical analysis available. These books, even though written for the equities market, will give any prospective forex trader most of the knowledge he/she will need to start trading forex.

42 of 45 people found the following review helpful:

5.0 out of 5 stars Extremely informative!, April 14, 2003

By 

Super Trader - See all my reviews
(VINE VOICE)   

This review is from: Trading in the Global Currency Markets (Hardcover)

Mr.Luca has out done himself. I am a 11 year veteran of the futures markets and I have written three book on futures trading. Mr.Luca's book exceeded my expectations. I read it and was completely enlightened at the chain of connections that drive the currency market. His technical analysis on forex trading was easily adaptable to my own strategies, plus I learned a few new tricks.

Mr.Luca's writing is very indepth and many beginners to forex trading will find a lot of information to wade through in order to find the nuggets they are looking for. That being said, any serious beginner will not have a problem with getting a thorough education in this fascinating subject.

Intermediate traders will see there mistakes and hopefully correct them by using this book.

Overall, this is a great book by Mr.Luca and I keep a copy as a refernce.

20 of 20 people found the following review helpful:

3.0 out of 5 stars Tradeoff in practicality for information, April 22, 2005

By 

Winston Kotzan (Chicago) - See all my reviews

Amazon Verified Purchase

This review is from: Trading in the Global Currency Markets Second Edition (Hardcover)

This book turned out to be quite different from what I was expecting. By the cover, I thought it would be about finding a brokerage account, and then getting set up to trade away. To my surprise it was more of an educational textbook than a "do it yourself" guide for individual investors.

However, this book contains a lot of interesting information about foreign exchange and how it works. It discusses the history of foreign exchange, factors that influence it, terminologies used by traders, and the different means that currency is traded. The primary focus is the multimillion-dollar trades put forth by large firms. It serves as a good reference and a good supplement to other readings about finance/economics in general. Since it covers a wide range of topics and somewhat glosses over them quickly, I suggest reinforcing with other more specific books on economics.

The good points are that it contains much useful information for educating yourself in the foreign exchange area. The downside is that it is not a practical guide for people interested in getting their dollars converted to Euros by this evening.