Essentials of Foreign Exchange Trading

( 1 )

Overview

This currency trading book provides readers with real, practical information on how to trade the foreign exchange market effectively. It begins by covering introductory information on the forex market, including basic trading mechanics and the benefits of forex trading, and then goes on to describe specific currency trading methods and skills in step-by-step detail. This includes highly practical information on technical and fundamental analysis, risk and money management, and powerful forex trading strategies. ...

See more details below
Other sellers (Paperback)
  • All (14) from $7.25   
  • New (6) from $23.55   
  • Used (8) from $7.25   

Overview

This currency trading book provides readers with real, practical information on how to trade the foreign exchange market effectively. It begins by covering introductory information on the forex market, including basic trading mechanics and the benefits of forex trading, and then goes on to describe specific currency trading methods and skills in step-by-step detail. This includes highly practical information on technical and fundamental analysis, risk and money management, and powerful forex trading strategies. These strategies have proven extremely effective in helping traders play the forex game to win.

JAMES CHEN, CTA, CMT (Montville, NJ) is Chief Technical Strategist at FX Solutions, a leading foreign exchange broker. An expert on forex trading and technical analysis, he is also a registered Commodity Trading Advisor (CTA) and a Chartered Market Technician (CMT). Mr. Chen writes daily currency analysis, leads forex trading seminars, and has authored numerous articles on currency trading strategy and technical analysis for major financial publications. These include Forbes.com, Futures Magazine, Technical Analysis of Stocks and Commodities Magazine, and Stocks, Futures and Options (SFO) Magazine.

Read More Show Less

Editorial Reviews

From the Publisher
"Many customers say Essentials is an "excellent" forex trading resource." (TradersPressWeekly.com, 8/18/10)

"…is a concise, easily digested snapshot of the currency market. It is a solid introduction to a trading specialty and probably a better fit for investors already well versed in stocks or futures and looking for a new market opportunity. Chen's edition is a Forex 101, a helpful base that is likely to encourage investors to pursue further study." (SFO Magazine, June 2009)

"…has written this guide to trading in the foreign exchange (forex) market for both novices and experienced professionals. The author explains the fundamental mechanics of the forex markets before launching into the various strategies and insights that have been proven successful in the field." (Book News, May 2009)

"The book is very well suited to the novice trader. The primer on technical analysis offers a great review for CMT candidates. More experienced traders in stocks, bonds, or commodities will benefit from the book's comprehensive explanation of the mechanics in the market. (mta.org (market technician's association), April 28th, 2009)

"Chen's book is the perfect source of knowledge for those who haven't ever traded currencies. Clearly explained, Chen's easy to read style show that he knows what professional currency trading is, focusing on the important aspects that every trader should know. The book covers all important Forex trading related topics." (fxstreet.com, March 11, 2009)

Read More Show Less

Product Details

  • ISBN-13: 9780470390863
  • Publisher: Wiley
  • Publication date: 3/9/2009
  • Series: Essentials Series , #44
  • Edition number: 1
  • Pages: 240
  • Sales rank: 1,150,202
  • Product dimensions: 5.90 (w) x 8.90 (h) x 0.70 (d)

Table of Contents

Preface.

Acknowledgments.

Chapter 1. Introduction to Foreign Exchange Trading.

Trading Money to Make Money.

Striking Gold.

Buying and Selling at Retail.

Big and Liquid, Like the Ocean.

Open 24/5.

Playing in the Majors.

Leveraged to the Hilt.

The Players.

What Moves the Forex Markets?

What to Expect from This Book.

Chapter Summary.

Chapter 2. Basic Foreign Exchange Trading Mechanics.

Anatomy of a Currency Pair.

Going Long and Selling Short.

Market Orders – On the Spot.

Entry Orders – Waiting until the Price is Right.

Stopping Losses with Stop Losses and Trailing Stops.

Profit Limits – When You’re in the Money.

Exit with Caution.

Trade Size – Lots and Lots of Lots.

Leveraging Margin and Leverage.

Margin Call – Insufficient Funds.

Pips – The Currency of Currency Trading.

Spreading the Wealth – Spreads or Commissions?

Interest – Giving and Receiving.

Hedging – Two Sides of the Same Coin.

Chapter Summary.

Chapter 3. Technical Analysis – Tools for Trading Foreign Exchange.

Introduction to Technical Analysis – Interpreting Price Action.

Basics of Bars and Candlesticks.

Keeping Time with Chart Timeframes.

Support for Resistance (and Support).

The Trend Will Set You Free.

How Trendy – Lines and Channels.

The Magic of Moving Averages.

Seeing Patterns in the Candles.

Currency Charts Take Shape.

Indicators of Change.

Pointing the Way with Pivot Points.

Fibonacci's Magic Numbers.

Riding the Elliott Wave.

Getting to the Point & Figure.

Chapter Summary.

Chapter 4. Fundamental Analysis – What Drives the Foreign Exchange Markets.

Introduction to Fundamental Analysis – Basic Economics.

A Healthy Interest in Global Bank Rates.

Carried Away with Trading.

Indication of Things to Come – Economic Indicators.

No News is Bad News for News Traders.

Chapter Summary.

Chapter 5. Foreign Exchange Trading Methods and Strategies.

Rules to Trade By.

Position Trading – Settling in for the Long-Term.

Swing Trading – Riding the Waves.

Day Trading – In and Out, Day In and Day Out.

Trend Trading – Going with the Flow.

Range Trading – Between a Rock and a Hard Place.

Breakout Trading (and Fading) – Shooting for the Stars.

Pattern Trading – Playing with Shapes.

Fibonacci and Pivot Point Trading – Magic Numbers and Self-Fulfilling Prophecies.

Elliott Wave Trading – Two Steps Forward, One Step Back.

Divergence Trading – Separate Paths.

Multiple Timeframe Trading – Timing is Everything.

Point & Figure Trading – Pointing Out Breakouts.

Carry Trading – In the Interest of Interest.

News Trading – All the News That’s Fit to Profit From.

Contrarian Trading – The Majority Doesn’t Rule.

Backtesting – History Repeats Itself.

Autotrading – Robots for Hire.

Chapter Summary.

Chapter 6. Important Elements of Successful Foreign Exchange Trading.

The Boring Side of Success.

A Risky Business.

Fatter is Healthier (But Only for Trading Accounts).

Risk and Reward.

Fix Your Fractions.

Trailing Stops – Loyal Followers.

Size Matters.

Position Overload.

Measuring Risk with a Trendline.

Great Expectations.

Psychologically Speaking.

Plan the Trade and Trade the Plan.

Chapter Summary.

Index.

Read More Show Less

Customer Reviews

Average Rating 5
( 1 )
Rating Distribution

5 Star

(1)

4 Star

(0)

3 Star

(0)

2 Star

(0)

1 Star

(0)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously
Sort by: Showing 1 Customer Reviews
  • Anonymous

    Posted April 29, 2010

    No text was provided for this review.

Sort by: Showing 1 Customer Reviews

If you find inappropriate content, please report it to Barnes & Noble
Why is this product inappropriate?
Comments (optional)