Currency Trading For Dummies

Currency Trading For Dummies

Your plain-English guide to currency trading

Forex markets can be one of the fastest and most volatile financial markets to trade. Money can be lost or made in a matter of seconds, and forex markets are always moving. So how do you keep up? This hands-on, friendly guide shows you how the forex market really works, what moves it, and how you can actively trade in it — without losing your head!

• All the world’s a stage — get an easy-to-follow introduction to the global forex market and understand its size, scope, and players
• Show me the money — take a look at the major fundamental and economic drivers that influence currency values and get the know-how to interpret data and events like a pro
• Prepare for battle — discover different types of trading styles and make a concrete strategy and game plan before you act on anything
• Pull the trigger — establish a position in the market, manage the trade while it’s open, and close out on the most advantageous terms

Open the book and find:

• Currency trading conventions and tools
• Key characteristics of successful traders
• Trading pitfalls to avoid and risk management rules to live by
• How major currencies typically trade
• Why it’s important to be organized and prepared
• The 411 on buying and selling simultaneously
• Tips for understanding rollovers and interest rates

Learn to:

• Grasp currency quotes
• Capitalize on the foreign exchange market
• Manage risk and reward
• Use the forces that drive currency movements
• Identify key traits of individual currency pairs