Currency Trading for Dummies

There are dozens of books on currency trading, most of them in the $30-60 range, some even higher than that. This is BY FAR the best buy for the money I've seen. I really think its not only as good, but better than many of the other rip off titles I've come across. The authors know their subject very well, and they put it across in the lucid, easy to reference format that I love about the "For Dummies" books. Unlike some other books, it is jam packed with helpful information and is as comprehensive as it can be in the given format. It will give you excellent points of departure to continually develop. Be forewarned however, this may not be the best first timer book for people who don't know what retail trading is all about. If you've never traded before or dealt with investing in a serious way, I recommend Ann C Louge's "Daytrading for Dummies" first, or some other basic 101 trading book. A book like that will help you get an idea of basic trading concepts, what you're getting yourself involved in on a psychological level, and will familiarize you with the workflow and organization. That will help you get more out of this book, even though this book tries hard to cover things from a 101 perspective. Galant and Dolan get to the chase on Forex pretty fast, which is great if you're actually ready to get down to business. If you came to this book thinking Forex is easy money, it will show you just how much work IS involved, and won't you be happy you spent $15 to find out instead of wasting much more on one of those stupid "How I made $1M in Forex" books or even worse, an expensive seminar.

Any time an investment vehicle hits the front page of the WSJ where relatively unsophisticated individual investors are "making millions" - as currency trading did in the Fall of 2009 - I need to look into the next potential individual investor nightmare. The book was written by the founders of [...]. As the title notes, this is a book on trading, not hedging - and the authors do a great job in giving an overview of the currency trading markets. In a relatively brief 325 pages or so, they discuss in some level of detail: * What the FOREX market is * How it works * Macroeconomic factors impacting currency rates * Fundamental analysis techniques * Technical analysis - including charting, trend analysis, candlesticks * Developing a logical trading plan * Trade execution - includinga couple of examples * Common mistakes and best practices * Risk Management * Other resources The relatively high leverage levels in currency trading (100:1 is common) lend to the potential of high risk, high return trading strategies. The authors are not shy about pointing out the risks and the recurring theme of having a trading plan. I also agree with a number of the other reviewers that the authors do tend to use a lot of terms (both FX and economic) without real adequate definition, and a few more trading examples would be helpful. Nevertheless, if individual traders follow the advice in the book - particularly around these two subjects (including post-trade analysis) - they shouldn't get burned completely by a very sophisticated and reasonably efficient market. If you are looking to get into FOREX trading, and are new to it, read this book and follow the authors' advice on planning and risk.

"Currency Trading for Dummies" offers a comprehensive and accessible introduction to the world of forex trading. Written in a straightforward and easy-to-understand language, it demystifies complex concepts, making it ideal for beginners. From understanding currency pairs to developing effective trading strategies, this book provides a solid foundation for anyone looking to venture into the forex market. With practical tips and real-life examples, it equips readers with the knowledge and confidence needed to navigate the intricacies of currency trading successfully.

Covers the field of currency trading for a beginner very extensively. A must read for the newbie!

Having read a number of books on financial markets and trading this has to be (in my opinion) one of the best. It is ideal for anyone new to Forex or who has dipped their toe into Forex trading but realised they need to learn more. It is well written, clear and concise. Of all the books I've read so far on finacial markets this one gave the clearest description of the various technical indicators and tools available to trade with, as well as a clear explanation of the fundamental factors affecting each currency pair, what news and data releases to look out for, and how to combine technical and fundamental analysis. Of course, it also gives all the necessary background to the currency market, how it operates, etc. The authors do not outline or preach specific trading strategies but there are plenty of examples of how analysis can be applied and made use of, and gives pointers as to how the analytical tools can be used as part of a strategy. This is the only book on trading in which I have come across a truthful explanation of how price charts are misleadingly used in many other books on trading, in that all too often authors will explain technical analysis techniques or trading strategies using charts in which the price action being referred to has already completed and can be justified with the benefit of hindsight. The truth is the trader will have to come to a descision on whether to trade, how much to risk, and in which direction to trade without the benefit of hindsight and when prices are moving and the action is live. An excellent book, and one I'm really glad I bought. For anyone looking to learn about Forex and fx trading, look no further.

I bought this book to affirm to myself if I wanted to trade the forex market or not, after reading this book and following its guidance it helped me come to the conclusion that it was something I would like to get into. What I would say is read this book and get an overview of the whole foreign exchange trading and then move onto another book or course to help you develop a system.

Un classique

I bought this book in the hope that it would answer one simple question for me: "do I want to trade forex?". I am about half-way through the book and I am delighted with the way that the book is walking me through what forex is all about. I don't have much time to invest in this project and I had originally set myself a six-month timeframe to either start trading or leave well alone. I am strongly leaning towards trading after just two months. I have opened a practice account (virtual money) and have started making trades with that, with some success. I think that, with the help of this book and probably some further reading on technical analysis, I will be making live trades in the next 6-8 weeks. In short, this is a great book for absolute beginners asking themselves the same question that I had been asking. Thanks.