The Little Book of Currency Trading: How to Make Big Profits in the World of Forex
The foreign exchange market, or forex, was once dominated by global banks, hedge funds, and multinational corporations, but that has all changed with Internet technology and the advent of online forex brokers. Now, hundreds of thousands of traders and investors around the world can participate in this profitable field.
Written by forex expert Kathy Lien, The Little Book of Currency Trading will show you how to effectively invest and trade in today's biggest market. Page by page, she describes the multitude of opportunities possible in the forex market, from short-term price swings to long-term trends, and details practical products that can help you achieve success, such as currency-based ETFs.
- Explains the forces that drive currencies and provides strategies to profit from them
- Reveals how you can use various currencies to reduce risk and take advantage of global trends
- Examines financial vehicles that can help you make money without having to monitor the market every day
The Little Book of Currency Trading opens the world of currency trading and investing to anyone interested in entering this dynamic arena.
Chapter One When Lightning Strikes.
Chapter Two Rubles and Bahts and Euros—Oh, My!
Chapter Three The A to Zs of Forex.
Chapter Four Step Right Up.
Chapter Five Movers and Shakers.
Chapter Six The Investor versus the Trader.
Chapter Seven What All Winners Do.
Chapter Eight So You're an Investor?
Chapter Nine So You're a Trader?
Chapter Ten Risky Business.
Chapter Eleven The Top 10 Mistakes.
Chapter Twelve Greetings from Nigeria, Please Help!
Chapter Thirteen Getting Down to Business.
Chapter Fourteen Crash, Burn, and Learn.
Chapter Fifteen Start Smart.
Currencies represent an increasingly popular way to capitalize on the up and down movements in the financial markets. Between 2004 and 2010, the daily turnover or volume in the forex market more than doubled from $1.9 trillion to $4 trillion. Previously limited to institutional investors, hedge funds, and other deep-pocketed players, the onslaught of technology that moved foreign exchange platforms online has made the market available to individual traders. With the advent of currency-based exchange-traded funds, currencies can now be traded like stocks and anyone can have access to trading 24-hours a day, using a large amount of leverage, with low transaction costs. In THE LITTLE BOOK OF CURRENCY TRADING (Wiley; January 2010; $19.95; 978-0-470-77035-1; Hardcover), forex expert Kathy Lien describes the multitude of profit opportunities possible in the forex market, from short-term price swings to long-term trends.
Lien skillfully explains the forces that drive currencies and provides strategies to profit from them, reveals how to use various currencies to reduce risk, and to take advantage of global trends. Lien outlines the many different ways to trade currencies, starting with how to follow big stories and headlines in the financial markets that may impact currencies and skillful ways of turning these headlines into trading opportunities. The book illustrates how to track trends and when to pick tops and bottoms using a trading tool developed by Lien to determine whether a currency is in a trend or range.
For active traders, currencies provide short-term price swings that hold the potential of making big profits every day, and for more strategic investors, it offers long, sustained price trends that generate money with the stress of monitoring the market every day. THE LITTLE BOOK OF CURRENCY TRADING explains the forces that drive currencies and provides strategies to anyone interested in entering this dynamic arena.
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