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Trade currencies like a seasoned pro with this friendly, fact-filled guide to the forex market
Over $6 trillion changes hands in the foreign exchange market every day. You can jump straight into the action with expert guidance from the hands-on Currency Trading For Dummies. You'll learn how the foreign exchange market works, what factors influence currency values, and how to understand financial data. When you're ready to create your own game plan for trading currencies, you'll be able to build it around your investment objectives, experience level, and risk appetite. You'll also find details on the latest trends in currency trading, including currency ETFs, cryptocurrencies, and currency options.
From essential newcomer knowledge to advanced positioning advice, Currency Trading For Dummies offers straightforward instruction that helps you:
Source data and market intelligence, employ technical analysis, and use the latest tech to find the most lucrative trading opportunities
Understand the most recent Securities and Exchange Commission (SEC) rules and regulations governing currency trading
Avoid common pitfalls and mistakes made by novice and experienced currency traders
Recognize profitable opportunities in the world of ETFs, currency options, and cryptocurrencies
Successful currency trading is within your grasp. This accessible roadmap to trading mastery provides the foundational knowledge you need to create a structured, winning strategy and conquer the forex market.
Autorentext
Paul Mladjenovic is a national speaker, a consultant, and the author of Stock Investing For Dummies, High-Level Investing For Dummies, and Investing in Gold and Silver For Dummies. He was a Certified Financial Planner during 19852021, and he was a financial and business educator for over 40 years. He is the CEO of RavingCapitalist.com.
Klappentext
Trade currencies like a veteran forex guru
Do you want to get in on the $6 trillion of daily action on the forex market? In Currency Trading For Dummies, you'll find an everyman's guide to participatingand profitingin the currency markets. Leave the confusing jargon behind and discover everything from essential advice for newcomers to advanced positioning techniques as you create a plan that's built around your objectives, experience level, and risk appetite. You'll also learn to recognize lucrative opportunities in alternatives to forex, like exchange-traded funds, options, and cryptocurrencies! Inside
Zusammenfassung
Trade currencies like a seasoned pro with this friendly, fact-filled guide to the forex market
Over $6 trillion changes hands in the foreign exchange market every day. You can jump straight into the action with expert guidance from the hands-on Currency Trading For Dummies. You'll learn how the foreign exchange market works, what factors influence currency values, and how to understand financial data. When you're ready to create your own game plan for trading currencies, you'll be able to build it around your investment objectives, experience level, and risk appetite. You'll also find details on the latest trends in currency trading, including currency ETFs, cryptocurrencies, and currency options.
From essential newcomer knowledge to advanced positioning advice, Currency Trading For Dummies offers straightforward instruction that helps you:
Inhalt
Introduction 1
About This Book 1
Foolish Assumptions 3
Icons Used in This Book 4
Beyond the Book 5
Where to Go from Here 5
Part 1: Getting Started with Currency Trading 7
Chapter 1: Currency Trading 101 9
What Is Currency Trading? 9
Speculating as an enterprise 10
Currencies as the trading vehicle 11
What Affects Currency Rates? 12
Fundamentals drive the currency market 12
But sometimes it's the technicals that are driving
the currency market 13
Or something else may be a driving force 14
Developing a Trading Plan 14
Finding your trading style 14
Planning the trade 15
Executing the Trading Plan from Start to Finish 16
Chapter 2: What Is the Forex Market? 19
Getting Inside the Numbers 21
Trading for spot 21
Speculating in the currency market 21
Getting liquid without getting soaked 22
Around the World in a Trading Day 23
The opening of the trading week 23
Trading in the Asia-Pacific session 24
Trading in the European/London session 25
Trading in the North American session 26
Key daily times and events 27
The U.S dollar index 28
Looking at Currencies and Other Financial Markets 30
Gold 31
Oil 31
Stocks 32
Bonds 33
Getting Started with a Practice Account 34
Chapter 3: Who Trades Currencies? Meet the Players 37
The Interbank Market Is the Market 38
Getting inside the interbank market 38
Bank to bank and beyond 39
Hedgers and Financial Investors 41
Hedging your bets 42
Global investment flows 44
Speculators: Running the Forex Show 45
Hedge funds 45
Day traders, big and small 48
Governments and Central Banks 48
Currency reserve management 49
The Bank for International Settlements 50
The Group of Twenty 51
Chapter 4: The Mechanics of Currency Trading 53
Buying and Selling Simultaneously 53
Currencies come in pairs 54
The long and the short of it 57
Looking at Profit and Loss 59
Margin balances and liquidations 59
Unrealized and realized profit and loss 60
Calculating profit and loss with pips 61
Factoring profit and loss into margin calculations 62
Understanding Rollovers and Interest Rates 62
Currency is money, after all 63
Value dates and trade settlement 64
Market holidays and value dates 65
Applying rollovers 65
Checking Out Currency Prices 67
Bids and offers 67
Spreads 68
Executing a Trade 68
Trading online or on the phone 69
Orders 72
Part 2: Data and Details You Can Use to Trade Currencies 79
Chapter 5: Looking at the Big Picture 81
Currencies and Interest Rates 82
The future is now: Interest rate expectations 84
Relative interest rates 84
Monetary Policy 101 86
Looking at benchmark interest rates 87
Easy money, tight money 87
Unconventional easing 89
Watching the central bankers 90
Interpreting monetary policy communications 91
Official Currency Policies and Rhetoric 94
Currency policy or currency stance? 94
Calling the shots on currencies 95
Taking a closer look at currency market intervention 98
Financial stability 101
Debts, deficits, and growth 101
Gauging credit risk 102
Geopolitical Risks and Events 104 Gauging risk sentiment 105&...