The Psychology of the Foreign Exchange Market

3.71 avg rating
( 7 ratings by Goodreads )
 
9780470844069: The Psychology of the Foreign Exchange Market

This book demystifies the foreign exchange market by focusing on the people who comprise it.  Drawing on the expertise of the very professionals whose decisions help shape the market, Thomas Oberlechner describes the highly interdependent relationship between financial decision makers and news providers, showing that the assumption that the foreign exchange market is purely economic and rational has to be replaced by a more complex market psychology.

"synopsis" may belong to another edition of this title.

From the Back Cover:

This book offers a fascinating understanding of the decisions that determine exchange rates. It sheds light on the psychology behind spectacular market phenomena as well as on subliminal processes in daily trading decisions.

In an understandable and engaging analysis of his research with many of the world’s leading market participants, Thomas Oberlechner draws on the first-hand expertise of the professionals whose decisions shape the market. Expanding the field of behavioral finance, The Psychology of the Foreign Exchange Market incorporates new insights from a variety of psychological perspectives - ranging from social market dynamics; the role of affects and intuition in trading decisions; cognitive biases of traders; psychological risk-taking phenomena; subjective attitudes in market expectations; the interdependent relationship between trading institutions and the financial news media; the dynamics of market rumors, and personality characteristics of successful traders; to the role of metaphors in the decisions of participants and the nature of the market.

"Economists propose elegant theories and sophisticated models to explain exchange rates, but to no avail. Traders, however, enjoy uncommon success in these markets. The difference is psychology. Economists deny it. Traders exploit it. And Thomas Oberlechner explains it – very skilfully. Whether you want to be a better economist or a better trader, read this outstanding book!"
—Mark Kritzman, Windham Capital Management Boston, LLC

"Finally, a book that helps us to understand the dynamics of the largest market in the world. As petrodollars and financial trade foreign exchange transactions gave way to pure trading for profit and speculation, it was often difficult to ascertain the dynamics of trading. Thomas Oberlechner has provided an excellent understanding in this book."
—Marshall N. Carter, Chairman/CEO (retired), State Street Bank and Trust Co., Boston

"Financial markets, with their interaction of economic and psychological mechanisms, increasingly attract researchers’ and practitioners’ interests. Thomas Oberlechner brilliantly examines financial markets by taking a psychological perspective. This splendid book impresses by its detailed research and provides a thorough understanding of the complex yet attractive mechanisms of financial markets."
—Professor Erich Kirchler, Institute for Psychology, University of Vienna

"Thomas Oberlechner has pulled together an astonishing array of first-rate research on how financial markets are shaped and shifted through all-too-human interaction and decision. Moreover, he has contributed a good deal of highly original research into the workings of the foreign exchange market and on the people who build and sustain this market. The Psychology of the Foreign Exchange Market summarizes in a most readable way what we know about the people - traders, analysts and journalists - who make markets and whose everyday decision making has, to say the least, far ranging social consequences. A ‘must read’ for anyone who wonders about the seemingly unfathomable mysteries of exchange rates and the making of markets."
—John Van Maanen, Erwin Schell Professor of Organization Studies, MIT

From the Inside Flap:

The Psychology of the Foreign Exchange Market.

This book offers a fascinating understanding of the decisions that determine exchange rates. It sheds light on the psychology behind spectacular market phenomena as well as on subliminal processes in daily trading decisions.

In an understandable and engaging analysis of his research with many of the world's leading market participants, Thomas Oberlechner draws on the first-hand expertise of the professionals whose decisions shape the market. Expanding the field of behavioral finance, The Psychology of the Foreign Exchange Market incorporates new insights from a variety of psychological perspectives - ranging from social market dynamics; the role of affects and intuition in trading decisions; cognitive biases of traders; psychological risk-taking phenomena; subjective attitudes in market expectations; the interdependent relationship between trading institutions and the financial news media; the dynamics of market rumors, and personality characteristics of successful traders; to the role of metaphors in the decisions of participants and the nature of the market.

"About this title" may belong to another edition of this title.

Buy New View Book
List Price: US$ 130.00
US$ 114.28

Convert Currency

Shipping: US$ 1.99
Within U.S.A.

Destination, Rates & Speeds

Add to Basket

Top Search Results from the AbeBooks Marketplace

1.

Oberlechner, Thomas
Published by Wiley (2004)
ISBN 10: 047084406X ISBN 13: 9780470844069
New Hardcover Quantity Available: 2
Seller:
Murray Media
(North Miami Beach, FL, U.S.A.)
Rating
[?]

Book Description Wiley, 2004. Hardcover. Book Condition: New. Never used!. Bookseller Inventory # P11047084406X

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 114.28
Convert Currency

Add to Basket

Shipping: US$ 1.99
Within U.S.A.
Destination, Rates & Speeds

2.

Oberlechner, Thomas
Published by Wiley
ISBN 10: 047084406X ISBN 13: 9780470844069
New Hardcover Quantity Available: 1
Seller:
Cloud 9 Books
(Wellington, FL, U.S.A.)
Rating
[?]

Book Description Wiley. Hardcover. Book Condition: New. 047084406X New Condition. Bookseller Inventory # NEW7.1819794

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 117.50
Convert Currency

Add to Basket

Shipping: US$ 4.99
Within U.S.A.
Destination, Rates & Speeds

3.

Thomas Oberlechner
Published by John Wiley & Sons Inc (2004)
ISBN 10: 047084406X ISBN 13: 9780470844069
New Hardcover Quantity Available: 1
Seller:
Revaluation Books
(Exeter, United Kingdom)
Rating
[?]

Book Description John Wiley & Sons Inc, 2004. Hardcover. Book Condition: Brand New. 1st edition. 258 pages. 9.25x6.25x1.00 inches. In Stock. Bookseller Inventory # zk047084406X

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 164.32
Convert Currency

Add to Basket

Shipping: US$ 8.10
From United Kingdom to U.S.A.
Destination, Rates & Speeds

4.

Thomas Oberlechner
Published by Wiley (2004)
ISBN 10: 047084406X ISBN 13: 9780470844069
New Hardcover First Edition Quantity Available: 1
Seller:
Irish Booksellers
(Rumford, ME, U.S.A.)
Rating
[?]

Book Description Wiley, 2004. Hardcover. Book Condition: New. book. Bookseller Inventory # M047084406X

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 198.35
Convert Currency

Add to Basket

Shipping: FREE
Within U.S.A.
Destination, Rates & Speeds

5.

Thomas Oberlechner
Published by Wiley (2004)
ISBN 10: 047084406X ISBN 13: 9780470844069
New Hardcover Quantity Available: 1
Seller:
Ergodebooks
(RICHMOND, TX, U.S.A.)
Rating
[?]

Book Description Wiley, 2004. Hardcover. Book Condition: New. 1. Bookseller Inventory # DADAX047084406X

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 198.43
Convert Currency

Add to Basket

Shipping: US$ 4.99
Within U.S.A.
Destination, Rates & Speeds