Description Profiting With Forex: The Most Effective Tools and Techniques for Trading Currencies Profiting with Forex introduces investors to all the advantages of the global foreign exchange market and shows them how to capitalize on it. Readers will learn why forex is the perfect supplement to stock and bond investing; why it is unrivaled in terms of protection, profit potential, and ease of use; and how it can generate profits, whether the other markets are up of down. Introduction: In this book, we use basic economic principles, technical analysis concepts, and a lot of common sense to explain what the Forex market is and why it does what it does. We approach the Forex market from a very practical standpoint. We will look at the Forex market from a practical point of view—not a theoretical one.
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The authors end up explaining in interesting detail the entire machinery of international trade: starting from the trade itself, the interest rates, and finally the Forex or the Foreign Currency Exchange markets.
I found that this book explains a lot of the things I needed to know in clear and simple terms. There had been several puzzling points for me regarding the whole machinery of money around the world — which this book cleared up in a jiffy. Yet, if you want to become a better trader and improve on your trading statistics, this is the book you need. It looks like this book has something for almost any kind of investor. This is not surprising with the increasing globalization — almost everything in the economic sphere is inter-linked.
I am pretty confident that most of it is worth going into while there are a lot of false scams doing the rounds as well. I prefer sitting at my table with book in front and coffee to the side instead of staring wide-eyed at the same information displayed on the ugly computer screen. Thus, I came up against the question: Which is the book which would give me what I want to know about Forex? Well, the main problem for me here is that most of these forex trading tips-and-tricks-and-methods books tend to be quite expensive.
However, enough said about what I feel and what I think — I am writing this review for other newbies like myself. In fact, that is why I started with this short prelude to tell you that I too like you am trying to strengthen or rather create my foundation in forex trading and I feel that this book is just right for me.
I almost let this one slip by simply because it had a copyright date of whereas I was browsing through it in However, once I got it — I found that most of the concepts and the illustrations were relevant and well worked out. Of course, the book starts off with a good reading of the history of the currency exchange and Forex and the like. However, the best part is its treatment of the primary factors that influence the Forex market viz.
Fundamental Analysis FA. The sections on Technical Analysis TA are comparatively less elaborate but they do end up giving you a decent flavor of the technical methods that you need to know.
I was okay with that as TA and all its formulas do tend to bog you down once in a while. As things stood with me anyway, I ad a handle over TA prior to this from other sources as well. In fact, according to the authors, both TA and FA have to be used in harmony to get the best results — which I fell is advice that is as wise as it comes. Then there was the fabulous chapter that dealt with Support, Resistance, and Fibonacci Analysis.
I found it quite interesting to read. In the end, they elaborate of five well-rounded trading strategies that have been tried and tested before as well. On account of all of what I have listed above I would gladly give this book a 5 out of 5.
This guy is certainly not in this simply to wheedle cash out of your wallet. Thus, 6 out of 5 it is, then. I had always been focused on the technicals, thus this book rounded off my perspective with the broad learning that I got fro it regarding the fundamental parts. One amazing feature about this book is that the author has linked up the things he talks about in the book to other stuff that he puts up on his website. The site offers analyses of currency pairs and other technical information along with podcasts and video tutorials on various topics.
In fact, I feel that the site might even render the book useless at times. As is the case with most of the books on Forex, it has the standard collection of wisdom nuggets spread all over, along with the accompanying theorizing, stategizing and chartistry.
However, if you have not — then this book is quite the right choice for you first book on Forex.
Profiting with Forex
Business Nonfiction Profiting with Forex introduces investors to all the advantages of the global foreign exchange market and shows them how to capitalize on it. Readers will learn why forex is the perfect supplement to stock and bond investing; why it is unrivaled in terms of protection, profit potential, and ease of use; and how it can generate profits, whether the other markets are up of down. Written by two leading forex experts, this complete investing resource uses basic economic principles, solid technical analysis, and lots of common sense to develop an arsenal of tools and techniques that will lead to winning results in the lucrative foreign exchange marketplace. Profiting with Forex includes everything that investors need to know about: The many advantages of the forex market: huge market size, ease of entry, profit potential, tax incentives, hour trading, no commissions, increased leverage, and guaranteed stops The basic terms of forex trading: definitions of important concepts, including "pip," "currency pair," "contract" or "lot," and more Genesis and growth of the forex market: how the forex market emerged out of a changing global financial landscape and continues to changes and adapt with that same volatile landscape Fundamental factors that shape the Forex market: the U. Chinese yuan, balance of trade, crude oil futures, and news media Technical analysis tools and indicators for gauging market sentiment: moving averages, oscillating indicators such as, stochastics, Commodity Channel Index, Relative Strength Index, Fibonacci analysis, and others Filled with over illustrations and figures, Profiting with Forex also shows investors how to combine their newly acquired knowledge of Forex fundamentals with proven trading techniques that can generate great rewards in the market.
Profiting With Forex