Spread Betting the Forex Markets

Overview

If you were to make a list of financial topics that have grabbed the interest of the wider public over recent years then spread betting and foreign exchange trading would surely be near the top. These have both been around for decades, but developments in technology and financial markets in the past five to ten years have made them extremely hot topics right now.
This book starts by covering the basics of spread betting and explains why it has become such a popular method for ...

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Spread Betting the Forex Markets: An expert guide to spread betting the foreign exchange markets

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Overview

If you were to make a list of financial topics that have grabbed the interest of the wider public over recent years then spread betting and foreign exchange trading would surely be near the top. These have both been around for decades, but developments in technology and financial markets in the past five to ten years have made them extremely hot topics right now.
This book starts by covering the basics of spread betting and explains why it has become such a popular method for trading a whole host of markets. Next the forex markets are explained - cutting through the jargon to help you understand how they work, what makes currency prices move second by second, 24 hours a day, and how you can trade forex using spread betting.
Finally, some trading strategies are examined - approaches that you can put into practise straightaway using spread betting, and at a level of risk that suits your own particular circumstances.
If you are looking to trade forex then this book provides an expert introduction - helping you to succeed by avoiding the most common pitfalls of this highly volatile but fascinating market.

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Product Details

  • ISBN-13: 9781906659516
  • Publisher: Harriman House Publishing
  • Publication date: 2/7/2010
  • Pages: 160
  • Product dimensions: 6.10 (w) x 9.10 (h) x 0.60 (d)

Meet the Author

David Jones first became involved with forex and spread betting in 1995, going on to work as a currency technical analyst in the late 1990s covering a wide range of currency pairs. He has worked in the spread betting industry for the past six years, for the two leading companies in this sector.
He is currently Chief Market Strategist at IG Index and is a regular interviewee on the BBC, CNN and CNBC. He has always been involved in client education and over recent years he has been involved in creating and running a wide range of educational programmes for both private and institutional investors.

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Table of Contents

About the author v

Preface vii

What the book covers vii

Who this book is for vii

How the book is structured viii

Introduction ix

Part 1 The Basics 1

Spread Betting 3

The spread bet price 5

Time frames for trading 8

Trading in terms of pounds per point 10

The different contracts available and margin trading 14

Example of a trade 18

Forex Explained 23

Background of the forex market 25

What is a currency pair? 26

The most traded currencies 27

Quoting conventions and terminology 28

Strength and weakness in forex 29

What moves the forex market? 30

The mechanics of trading forex 38

Why forex has become such a popular market 40

Managing Risk 45

Position sizing 48

Stop losses - managing the risk of being wrong 53

Risk versus reward - is the trade really worth doing? 61

Technical Analysis 67

Part 2 Trading Strategies 77

Support and Resistance 81

Support and resistance - Example 1 86

Support and resistance - Example 2 103

Support and resistance - Example 3 108

When support/resistance levels are broken... 111

Trends and Trend Following 113

Examples of trending markets in forex 116

How to draw trend lines 118

Trend following - Example 1 122

Trend following - Example 2 126

Indicators - A more Mathematical Approach to Trading 129

Relative Strength Index (RSI) 133

A twist on RSI - spotting divergences 138

...And Finally 143

Index 147

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