Currency Trading For Dummies


  • Format: PDF
  • Pages: 387
  • Published Date: 2015


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.


Today, millions of individual traders and investors all over the world are discovering the excitement and challenges of trading in the forex market. You don’t even have to be at your desk to trade — these days, you can trade on the go using a smartphone or other handheld device. No question about it, the forex market can be one of the fastest and most volatile financial markets to trade. Money can be made or lost in a matter of seconds or minutes. At the same time, currencies can display significant trends lasting several days to weeks and even years. Most important, forex markets are always moving, providing an accessible and target-rich trading environment.

In contrast to stock markets, which are more familiar and relatively intuitive to most investors, the forex market somehow remains more elusive and seemingly complicated to newcomers. In this book, we show you how the forex market really works, what moves it, and how you can actively trade it. We also provide you with the tools you need to develop a structured game plan for trading in the forex market without losing your shirt. We cover the following:

  • Getting a handle on the forces that drive currency movements
  • Understanding forex market trading conventions and strategies
  • Interpreting economic data and official statements
  • Finding sources of data and market intelligence
  • Gauging market psychology, sentiment, and positioning
  • Identifying key traits of individual currency pairs
  • Utilizing technical analysis to spot trade opportunities
  • Developing a regimented and disciplined approach to trading currencies
  • Focusing on risk management to minimize losses and keep more of your gains


  • Currency Trading 101
  • What Is the Forex Market?
  • Who Trades Currencies? Meet the Players
  • The Mechanics of Currency Trading
  • Looking at the Big Picture
  • Understanding and Applying Market News and Information
  • Getting Down and Dirty with Fundamental Data
  • Getting to Know the Major Currency Pairs
  • Minor Currency Pairs and Cross-Currency Trading
  • Training and Preparing for Battle
  • Cutting the Fog with Technical Analysis
  • Identifying Trade Opportunities
  • Risk-Management Considerations
  • Pulling the Trigger
  • Managing the Trade
  • Closing the Position and Evaluating Your Results
  • Ten Habits of Successful Currency Traders
  • Ten Rules of Risk Management
  • Ten Great Resources