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Currency Trading For Dummies Paperback – July 5, 2011

3.9 out of 5 stars 51 customer reviews

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Editorial Reviews

About the Author

Brian Dolan has worked for more than 20 years in the forex market as a currency trader and analyst. As the Chief Currency Strategist at FOREX.com, Brian oversees fundamental and technical analysis and is a frequent resource for the financial media on currency developments.
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Product Details

  • Paperback: 360 pages
  • Publisher: For Dummies; 2 edition (July 5, 2011)
  • Language: English
  • ISBN-10: 1118018516
  • ISBN-13: 978-1118018514
  • Product Dimensions: 7.4 x 0.8 x 9.2 inches
  • Shipping Weight: 1.4 pounds
  • Average Customer Review: 3.9 out of 5 stars  See all reviews (51 customer reviews)
  • Amazon Best Sellers Rank: #666,970 in Books (See Top 100 in Books)

Customer Reviews

Top Customer Reviews

Format: Kindle Edition Verified Purchase
The author knows a lot about Forex and overall this is a must-read book for anyone into this market. However, the author doesnt explain what ecn/stp/dd brokers are (and why you should run away from dd), tries to make the reader think that opening an account outside the USA is riskier, and finally states that leverage above 50:1 isnt a good thing. Perhaps all this is because the Author works for a dd (dealing desk) brokerage in the USA, where leverage is limited... All in all you should read this book, but be critical and dont take every statement as absolute truth, as there are interests in play here.
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Format: Paperback Vine Customer Review of Free Product ( What's this? )
The "Dummies" formula is very good for getting started in this complex subject. Plain talk, helicopter view, organized. Headers let you jump between topics and skip topics as needed.

I haven't finished the book yet, but I can say that Brian Dolan is a very good writer and seems to know his topic. Some writers are unclear when explaining points they don't thoroughly understand themselves. Dolan's clarity and precision are impressive.
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Format: Paperback Verified Purchase
I have been trading currency for about 5 years and this was a good refresher source book for me. Easy to understand and read. Currency trading is not for everyone, but you are think about doing it this would be a good starting book to read. Explains the market and how it works.
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Format: Kindle Edition Verified Purchase
Currency Trading For Dummies is a brief overview of the exciting world of Forex and introduces the reader to many key concepts of currency trading. The book is written in classic Dummie style - easy to read and simple language is used to guarantee understanding.

The book was quite repetitive in parts and the reader shouldn't aim to read it once as some complex concepts may require a second reading. The reader should also not expect to obtain an in depth knowledge of currency trading but instead use the book as a stepping stone to more advanced readings on the subject.

Currency trading intimidated me before I read this book but now I feel confident enough to start trading on a demo account while practicing the useful tips outlined in the book.
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Format: Paperback Vine Customer Review of Free Product ( What's this? )
Overall, I'm mixed on Currency Trading for Dummies. The book could have been structured much better to my mind and there are parts where I don't care for the way the author has talked about things. There are, though, also some pretty good, useful parts.

The discussion of forex trading mechanics could perhaps have been done better. I think the author too closely associates it with the likes of stock trading in terms of buying and selling. It makes the general point, but could leave some readers with the wrong impression of how things work in retail forex in that it may imply to readers there's actual currency ownership involved, which isn't the case.

I also found the section on order types rather clunky. It takes up much more space than is necessary to talks about stop and limit orders, even accounting for the different ways they are referred to in some cases.

Dolan does take a very thorough look at interest rates, monetary policy, and currency policy in his discussion of drivers of exchange rates, though. He goes into sources and types of information and the major economic and other data elements that go into forex market analysis. This includes a listing of the key reports for each of the major economies, though I would suggest that these things tend to change in importance over time.

The section of the book I think a lot of readers will find most valuable is the one which goes through the major currency pairs and talks about their individual characteristics. This isn't something I've seen done in such detail in other books. This includes both technical and fundamental considerations for those pairs.

There's also a good section on risk.
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Format: Paperback Verified Purchase
by Brian Dolan @326 pages 2015
Finished 7/14/2016

Preliminary: This review is for the 2nd Edition; it appears that the third edition has an additional author cited. I first came across this book in a library in Indianapolis. So I picked up a copy.

This book covers pretty much everything you need to know about Currency Trading including technical analysis, fundamentals, psychology, and the book even digs into details about the actual currency pairs.

I would say this book has great breadth, but not a lot of depth. For example, if you want to learn more about technical analysis, you will need to pick up another book because his coverage on indicators is pretty meager. Actually, I felt his coverage of fundamentals was more in-depth than technical analysis. You will find descriptions of patterns without an image to go along with it!

The book is lighter fare—so you should be able to digest ten or more pages in a single sitting.

Since I have read a number of other books, a good part of this book is just filler for me. Yet Brian does offer some specific insights and tidbits that augment my knowledge from other books; so I did read this book cover to cover. For example, he said, “don't adjust your take-profit targets without also adjusting your stop-loss order in the same direction.” This is the type of tidbit that I simply hadn't thought about before. Whether I actually choose to do this is not the point—the point is that I will give it some consideration. Thus, the breadth of Currency Trading For Dummies is worth the read, even if you have read a number of more “advanced” books.

Brian does work for FOREX.com, but he point this fact out a few times, and I didn't see any heavy pushing or the “big sell.
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