Forex Made Easy : 6 Ways to Trade the Dollar (Hardcover)

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Key Phrases: currency pair, dealing rates, demo account, United States, Market Order, Bank of America (more...)

Editorial Reviews

Product Description

The first plain-English introduction to foreign currency exchange trading--one of today's hottest profit opportunities

The foreign currency market is the largest financial market in the world, and foreign exchange trading is quickly becoming one of today's most high-profile, potentially lucrative markets. One problem is that books on the topic are complex, technically dense, and difficult for Forex novices to grasp.

FOREX Made Easy is the first book to approach the topic in a detailed yet accessible style, gradually and deliberately moving from simple to complex in easy and natural language. Author James Dicks--founder of the popular trading software 4X Made Easy--draws upon his trading knowledge to give readers only the information they need, from setting up a workstation to trading electronically.

This Forex guidebook provides traders with:

• An easy-to-follow, six-step process for FOREX trading
• Methods for gaining an advantage using technical analysis
• Dozens of examples to illustrate key points

From the Back Cover

How Investors of Every Size Can Profit From Today's Largest Trading Market

Newly-developed online trading tools and tactics have helped individual investors smash the barriers between Main Street and Wall Street. Nowhere is this more evident than in the foreign currency market, or FOREX. Recent rule changes have opened this phenomenally lucrative market--formerly reserved for banks, corporations, and high net worth individuals--to independent investors, many of whom start with as little as $300! FOREX Made Easy is the first no-nonsense, step-by-step introduction to making the FOREX an integral part of your overall trading program. Pulling back the curtain to reveal how simple and straightforward FOREX trading actually can be, this results-based manual takes you through an easy-to-follow, six-step process to:

• Use unheard-of 100:1 leverage to make the most of your limited trading capital
• Practice market-proven techniques guaranteed to minimize your risk exposure
• Trade the FOREX market online, 24 hours a day, six days a week

FOREX trading has quickly become one of the investing world's hottest opportunities, for all traders and investors, regardless of their size or strategy. Discover how to make it work for you, in renowned FOREX trading pioneer James Dicks' commonsense yet revolutionary FOREX Made Easy.

"In this book I have put together what I feel to be a very investor-friendly understanding of the FOREX market and how to trade it. This is for the everyday investor, looking for an alternative to the stock market for better portfolio diversification."

--James Dicks

From the Introduction

The foreign currency market is the largest and most liquid trading market in the world, with $1.5 trillion or more traded every day. And in our increasingly barrier-free global financial markets, online traders and investors armed with inexpensive point-and-click trading systems, along with a new attitude that markets should be open to all traders, all the time, have made it among the most accessible!

Problem is, the majority of books written on FOREX trading have been needlessly complex and technically dense, written for institutional investors making billion dollar-plus trades. FOREX Made Easy changes all that, telling you everything you need to know minus the unnecessary detail and tactics. The first book to provide you with only the information you need, to allow you to get a feel for the market and determine how to fit FOREX trading into your long-term investing program, this straight-talking guidebook reveals:

• What the FOREX is, and how and why it has become the major player in today's financial markets
• Clear instructions for setting up a trading station, opening an account, and placing your first order
• 6 Steps to FOREX Success--Concise, effective rules for successful trading
• Fundamental analysis and the FOREX--Economic indicators, inflationary indicators, and more
• Technical analysis and the FOREX--From basic charts and patterns to Fibonacci, Elliot Wave, and more
• Money management principles to ensure that you trade with your head instead of your heart
• Business and tax strategies for squeezing every financial advantage from your FOREX trading practices

FOREX Made Easy gives you much more than just facts and numbers. This first-of-its-kind book provides you with the tools and techniques you need to stand toe-to-toe with the world's most powerful traders and institutions, using FOREX trading like they have for years to both offset your market risks and augment your profits. Simple, uncomplicated, and filled with examples of individual traders using their smaller size to tremendous advantage in the institution-dominated FOREX, it will open your eyes to an opportunity that is unique, unprecedented, and bound to become a staple for traders looking for new sources of profits, and innovative techniques to protect those profits.

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Product Details

• Hardcover: 256 pages
• Publisher: McGraw-Hill; 1 edition (March 12, 2004)
• Language: English
• ISBN-10: 0071438947
• ISBN-13: 978-0071438940
• Product Dimensions: 9.1 x 6.1 x 1 inches
• Shipping Weight: 1.1 pounds (View shipping rates and policies)
• Average Customer Review: 2.6 out of 5 stars  See all reviews (68 customer reviews)
• Amazon.com Sales Rank: #255,717 in Books (See Bestsellers in Books)

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Customer Reviews

Most Helpful Customer Reviews

236 of 247 people found the following review helpful:

3.0 out of 5 stars Good Introduction To Forex, August 19, 2004

By	B. A. Trust Account "FX Trader" (SLC, UT) - See all my reviews

Forex Made Easy is a good introduction to Forex. There are some mistakes in the book. James has cleverly disguised his book as a long sales letter introduction to his firm, his products, and his $3000 software. I have no contention with him selling his products, while offering useful information about Forex, however, I prefer books that are not biased, and that provide many resources for further investigation and comparison. This book will not lead you to any other destination but to that of Mr. Dicks. If you would like to save $3000 by NOT purchasing his software, and save yourself the cost of his book, simply go to www.cmsforex.com or www.gftforex.com, where they will provide you with FREE trading stations and all the indicators you would want or need, AND you can trade directly from their charts. Dicks software simply uses exponential moving averages and MACD as buy/sell signals. You just saved yourself $3000! A further educational resource can be found at www.forex-trading-mentor.com, if you want to jump right to the heart of the matter.

167 of 178 people found the following review helpful:

1.0 out of 5 stars Would be a good deal if it came with lunch..., November 14, 2004

By	Michael Bird (Yorba Linda, CA United States) - See all my reviews (TOP 1000 REVIEWER)    (REAL NAME)

When a book is described as being a guide to make something easy or understandable and then turns out to be a sales pitch it uncovers a basic truth, you can't trust the author.

There is a web site (OANDA) that will allow you to open a practice FX trading account for free that will stay open indefinitely, the site has plenty of information on how FX trading works, how margins work and how the various indicators for technical trading work (on the trading platform you can use many different types of analysis for free). There is also a board to post questions, etc., with other traders or those interested in trading, in other words, you can learn most of the information presented here for free from more unbiased sources.

I bring all this up because there is no reason to buy this book unless you want a sales pitch, which in general, I have no problem with IF it's being given by someone that lets me know upfront that that is what I'm getting AND they are buying me lunch. When I have to PAY to get sold, I'm twice the loser.

Not all information is this book is bad, however, if you want a book that explains technical analysis, go buy one, why buy a book on making FX "easy" filled with chapters with basic explanations of candle stick charts (and tons of filler charts) and the like? No reason I can think of, my only guess is that the author figured that anyone that read this that wasn't informed or well read on the topic would be impressed, go to his web site and buy his product. In other words, what is disguised as a "how-to" guide is really a "how-to-make-the-author-money" guide. You'd think if the guy's ability in the market was so good he wouldn't need to resort to this low level (bottom feeding) type selling.

One of the reasons presented to buy this book (on the inside flap and in the beginning chapters) is to learn how to diversify your portfolio, which of course is generally seen as a good thing, so an appeal to the average investor is made. The problem with this is simply that the average investor probably isn't paying nearly enough attention to their current assets and then they are asked to buy into this FX system, which, at a minimum would require many hours of work and research. The dilemma is obvious, unless one is planning on becoming a day trader, you can't work a normal job and spent hours in study in all the various markets, there isn't enough time. Ironically, after telling investors to be diversified, the author explains that to really be able to trade FX you should really only work in a couple pairs or so, because, after all, there is simply too much information to follow multiple markets.

So there it is in a nutshell, the author wants you to be diversified BUT he tries to sell you his system to become an expert in a very narrow and specialized field. Good luck.

31 of 35 people found the following review helpful:

1.0 out of 5 stars Disjointed, poorly proofread, and full of commercials., August 16, 2004

By	I. Luv Sushi "wanderingtrader" (Windsor, CT United States) - See all my reviews

I bought this book looking for an introduction to FOREX, having been a futures trader for many years. While there is a reasonably good introduction to FOREX as well as some technical and fundamental information, the problems I encountered far outweighed the benefits, such as:

1. It's hard to go more than 2 or 3 pages without the author advertising some aspect of his business: his website, brokerage firm, training group, software, etc. etc. etc. In fact, he ends up devoting an entire chapter to this.
2. Whoever proofread this book should find a new profession. It's full of grammatical and spelling errors.
3. Some of the charts referenced don't even make sense. The best one was the depiction of an upward trend with the trendline drawn connecting the highs and not the lows.
4. While the book starts off in some logical order, it quickly deteriorates into meandering chapters.

I won't deny that there is some good information in here for those new to the FOREX scene. However, if you are looking for an introduction to forex, save yourself the money, log on to www.forextv.com, and watch the Online Lessons (btw, I have no affiliation with this site other than the fact that I watch it all day long now).