Currency Trading For Dummies

Currency Trading For Dummies

by Kathleen Brooks, Brian Dolan

Paperback(3rd ed.)

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Your plain-English guide to currency trading

Currency Trading For Dummies is a hands-on, user-friendly guide that explains how the foreign exchange (ForEx) market works and how you can become a part of it. Currency trading has many benefits, but it also has fast-changing financial-trading avenues. ForEx markets are always moving. So how do you keep up? With this new edition of Currency Trading For Dummies, you'll get the expert guidance you've come to know and expect from the trusted For Dummies brand—now updated with the latest information on the topic.

Inside, you'll find an easy-to-follow introduction to the global/ForEx market that explains its size, scope, and players; a look at the major economic drivers that influence currency values; and the lowdown on how to interpret data and events like a pro. Plus, you'll discover different types of trading styles and make a concrete strategy and game plan before you act on anything.

  • Covers currency trading conventions and tools
  • Provides an insider's look at key characteristics of successful currency traders
  • Explains why it's important to be organized and prepared
  • Offers guidance on trading pitfalls to avoid and risk management rules to live by

Whether you're just getting started out in the foreign exchange market or an experienced trader looking to diversify your portfolio, Currency Trading For Dummies sets you up for trading success.

Product Details

ISBN-13: 9781118989807
Publisher: Wiley
Publication date: 02/17/2015
Series: For Dummies Books
Edition description: 3rd ed.
Pages: 384
Sales rank: 69,351
Product dimensions: 7.30(w) x 9.20(h) x 0.90(d)

About the Author

Kathleen Brooks is research director at She produces research on G10 and emerging-market currencies, providing her clients with actionable trading ideas.

Brian Dolanhas more than 20 years of experience in the currency market and is a frequent commentator for major news media.

Table of Contents

Introduction 1

Part I: Getting Started with Currency Trading 5

Chapter 1: Currency Trading 101 7

Chapter 2: What Is the Forex Market? 17

Chapter 3: Who Trades Currencies? Meet the Players 33

Chapter 4: The Mechanics of Currency Trading 47

Part II: Driving Forces behind Currencies 71

Chapter 5: Looking at the Big Picture 73

Chapter 6: Understanding and Applying

Market News and Information 99

Chapter 7: Getting Down and Dirty with Fundamental Data 115

Chapter 8: Getting to Know the Major Currency Pairs 139

Chapter 9: Minor Currency Pairs and Cross-Currency Trading 163

Part III: Developing a Trading Plan 179

Chapter 10: Training and Preparing for Battle 181

Chapter 11: Cutting the Fog with Technical Analysis 201

Chapter 12: Identifying Trade Opportunities 229

Chapter 13: Risk-Management Considerations 249

Part IV: Executing a Trading Plan 267

Chapter 14: Pulling the Trigger 269

Chapter 15: Managing the Trade 283

Chapter 16: Closing the Position and Evaluating Your Results 295

Part V: The Part of Tens 305

Chapter 17: Ten Habits of Successful Currency Traders 307

Chapter 18: Ten Rules of Risk Management 313

Chapter 19: Ten Great Resources 317

Appendix: Trading Strategies 321

Index 343

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