Getting Started in Currency Trading: Winning in Today's Hottest Marketplace - Softcover

Archer, Michael D.; Bickford, James Lauren

Softcover

ISBN 10: 0471713031 ISBN 13: 9780471713036

Publisher: John Wiley & Sons Inc, 2005

Synopsis

Getting Started in Currency Trading is both an introduction and reference tool for beginning and intermediate foreign exchange (Forex) traders. This information-packed resource opens with a description of the Forex market and a section of clearly defined Forex terms with examples. You'll learn how to open your own trading account by following step-by-step instructions and numerous screen shots that show you what expect inside a dealer's trading platform. You'll walk through the physical process of placing and liquidating currency orders. Later chapters introduce various trading strategies and tactics in detail, along with some fundamental and technical analysis that will help you win in the exploding foreign exchange trading market.

About this title

From the Back Cover

An accessible introduction to the burgeoning foreign exchange trading market

GETTING STARTED IN CURRENCY TRADING

The Foreign Exchange (FOREX) market is the largest financial market in the world, with a volume of over $1.5 trillion a day—more than three times the total amount of the stocks and futures markets combined. Up until 1995, FOREX trading was only available to banks and large multinational corporations, but today, thanks to the proliferation of the computer and a new era of Internet-based communication technologies, this highly profitable market is open to everyone. This huge international market offers unmatched potential for profitable trading in any market condition or any stage of the business cycle. All you need is a computer, a high-speed Internet connection, and the information contained within this book.

Getting Started in Currency Trading is both an introduction and reference guide for beginning and intermediate FOREX traders. This information-packed resource opens with a clear description of the FOREX market and a section of FOREX terms clearly defined with examples. After this brief overview, Getting Started in Currency Trading moves on to discuss:

• The mechanics of FOREX trading—order types as well as order execution and confirmation
• How fundamental and technical analysis can help you create successful trading strategies
• How to find a reliable FOREX broker or open an online trading account
• The psychology of trading the FOREX market
• Advance trading topics, such as rollovers, hedging, and arbitrage

Filled with in-depth insight, practical advice, and numerous screen shots that illustrate what to expect inside a dealer's trading platform, Getting Started in Currency Trading will guide you through the complexities of FOREX trading and put you on the road to success.

Michael duane Archer has been an active commodity futures and FOREX trader for over thirty years. Mike has also worked in various registered advisory capacities, notably as a CTA (Commodity Trading Advisor) and as an Investment Advisor. He is currently CEO of CommTools, Inc., a corporation focusing on nonlinear solutions to trend forecasting, with a special emphasis on cellular automata models.

About the Author

Michael Duane Archer (Golden, CO) has been an active commodity futures and Forex trader for over thirty years. He has also worked in various advisory capacities, notably as a Commodity Trading Advisor and SEC registered Investment Advisor. He is currently CEO of CommTools, Inc., a think-tank focusing on cellular automata and complexity theory market forecasting solutions.

Jim L. Bickford is a twenty-seven-year software engineering veteran, technical analyst, and a very active FOREX day trader with an academic background in applied mathematics and statistics. He has numerous books to his credit and recently published Chart Plotting Algorithms for Technical Analysts.

Edition details

• Publisher: John Wiley & Sons Inc
• Publication date: 2005
• ISBN 10: 0471713031
• ISBN 13: 9780471713036
• Binding: Paperback
• Language: English
• Number of pages: 190