Day Trading the Currency Market: Technical and Fundamental Strategies To Profit from Market Swings (Wiley Trading) (Hardcover)

by Kathy Lien (Author)
Key Phrases: technical trading strategies, currency pairs, average directional index, United States, New Zealand, United Kingdom (more...)

Editorial Reviews

Review
"...a leap forward in sophistication..."  (The Technical Analyst, June 2006)

"…well researched ideas…Lien’s expertise really shines through…" (Shares, August 2006)  

Product Description
Written by Kathy Lien—chief strategist for the number one online currency broker in the world—Day Trading the Currency Market reveals a variety of technical and fundamental profit-making strategies for trading the currency market, and provides a detailed look at how this market actually works. It contains actionable information and strategies, which can help you enter this highly competitive arena with confidence and exit with profits.

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Product Details

• Hardcover: 256 pages
• Publisher: Wiley (December 2, 2005)
• Language: English
• ISBN-10: 0471717533
• ISBN-13: 978-0471717539
• Product Dimensions: 9.2 x 6.3 x 1 inches
• Shipping Weight: 15.2 ounces
• Average Customer Review: 3.9 out of 5 stars See all reviews (41 customer reviews)
• Amazon.com Sales Rank: #31,482 in Books (See Bestsellers in Books)

  Popular in these categories: (What's this?)

  #16 in	Books > Business & Investing > Finance > Foreign Exchange
  #30 in	Books > Business & Investing > Economics > Money & Monetary Policy
  #31 in	Books > Professional & Technical > Accounting & Finance > International > Finance

Customer Reviews

Most Helpful Customer Reviews

192 of 201 people found the following review helpful:

3.0 out of 5 stars Good when taken into context, September 26, 2006

By	Scott Shubert (Santa Fe, NM tradingmastermind.com) - See all my reviews (REAL NAME)

I have had the pleasure of seeing Kathy Lien speak twice at Forex seminars. She is very intelligent and has a wonderful personality. You will find some interesting and informative content in this book that can be useful in your educational path in Forex. But it is important to keep in mind that the book is written not by a trading entrepreneur but by a representative of one of the largest Forex brokers. To become a successful trader it is essential to recognize the vast difference in agenda between winning traders and brokers. The entire industry is driven by brokers and almost all material available on learning to trade is tied directly or indirectly to the broker industry whose agenda is to teach trading strategies that make the most money for THEM. Because the industry is unregulated, brokers are able to get away with many less than ethical practices. For instance, it is ironic that another reader mentions how Kathy covers the subject of the "carry trade" in detail. The last time I spoke with FXCM I discovered to my shock that they had adopted the policy of charging a negative interest regardless of which direction one was trading which I believe should be criminal. But there is no regulating agency to prevent them from doing that. Neither the CFTC nor the NFA actually regulate the activity of Forex brokers. Some other brokers, refuse to publish their interest rates or display them in their trading platforms so they can change them behind the scenes every day according to what benefits them the most. You may notice that others have a negative interest that is twice as much as their positive interest. All of this is part of the overall objective to keep the majority of traders focused on day trading which makes the most money for brokers. Studying trading material published by brokers is like asking a casino owner how to gamble. Most of the trading "mentors" are also introducing brokers who make money when you trade. A word to the wise, is that if you intend to succeed in Forex trading consider looking to sources of information that are not tied to any broker such as other traders who have learned to master this arcane art.

37 of 37 people found the following review helpful:

3.0 out of 5 stars good look at forex market, January 10, 2006

By	financeworker "fred" (Toronto, Ontario Canada) - See all my reviews

This work presents a fairly complete overview of the forex market, its major participants, currency pairs and how those pairs are influenced and behave. In fact, there was more information about the forex market in general than I was anticipating.

I had purchased the book, believing it was mostly geared towards strategies and techniques for trading the market on an intraday basis. There is one chapter, wherein Kathy gives some very good and reliable techniques for trading intraday, which are essentially built around the 4 Week Rule of trading (a very reliable way of identifying new highs/lows and entering the market when a new trend--or existing trend--is breaking out, along with derivatives of that rule. Anyone who is unfamiliar with the rule can learn the particulars by doing an internet search or purchasing a book such as John Murphy's, Technical Analysis of the Financial Markets.

The small amount of material devoted to actual trading is the only reason I didn't give it more stars, but for someone new to forex trading in general, it would be worthy of more stars and a further look.

56 of 66 people found the following review helpful:

5.0 out of 5 stars Desktop Reference, December 12, 2005

By	Mercer King - See all my reviews (REAL NAME)

This book will be a worthwhile addition to the trader's library. After reading Ms. Lien's very thorough presentation there should be few unanswered questions about how the currency market works and how to find profitable trading opportunities. The breadth of currency market information is well beyond what I was expecting. Many of my questions were answered, including some that I didn't know to ask. My knowledge of this activity has increased significantly as a result.
Although written for traders, readers interested in the general subject will find it provides a good overview of what the currency market is all about.