Essentials of Foreign Exchange Trading
$15.81
| Author(s) | |
|---|---|
| Format |
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| Pages |
237 |
| Published Date |
2009 |
Essentials of Foreign Exchange Trading provides readers with real, practical information on how to trade the foreign exchange market effectively. It begins by covering introductory information on the forex market, including basic trading mechanics and the benefits of forex trading, and then goes on to describe specific currency trading methods and skills in step-by-step detail. This includes highly practical information on technical and fundamental analysis, risk and money management, and powerful forex trading strategies. These strategies have proven extremely effective in helping traders play the forex game to win.
Author’s Introduction:
Needless to say, those early days taught me a good lesson. Most humans are not instinctively good at trading. For the vast majority of us, guts and instinct left unchecked invariably lead to catastrophic losses at some point in time, usually sooner rather than later. On attaining this realization, I began a tireless quest to become a profitable forex trader. My efforts consisted of a prolonged, single-minded endeavor to absorb forex-specific analytical methodologies, highly touted currency trading strategies, and sound money management techniques. My search for the “ holy grail ” of foreign exchange trading had begun in earnest.
Over time, I realized that this holy grail of forex, in the traditional sense, was not only elusive but most likely nonexistent. I came to the conclusion that although a bunch of chart indicators all flashing the same signal at the same exact time to enter into a currency trade is a very nice thing to see, it probably would not by itself be able to feed a typical family on a consistent basis. The true holy grail, I eventually found, is a combination of good analytical and trading technique, great risk/money management, and phenomenal discipline. Without these vital components, consistent profitability in forex trading would be difficult to achieve.
This is where the book you are holding comes in. It is not meant to be an exhaustive tome that covers every detailed aspect of the foreign exchange world. Rather, this book is meant to serve as a practical guide to help you develop some of the most important tools and attributes necessary for approaching forex trading in an intelligent and well-prepared manner. Essentials of Foreign Exchange Trading is the kind of book that I wish I had read during the earlier years of my forex trading career.
But even now, after many years of trading this market and analyzing foreign exchange price movements for countless traders around the globe on behalf of FX Solutions, I occasionally find myself neglecting some of the essential concepts of good forex trading. Therefore, I have included all of these key concepts within the pages of this book — writing them down in this manner has helped me to refocus on what is truly important in one’s quest for profitability in this market. In short, this book is highly relevant for all who strive to increase their probability of achieving success in forex trading.
Contents:
- Introduction to Foreign Exchange Trading
- Basic Foreign Exchange Trading Mechanics
- Technical Analysis—Tools for Trading Foreign Exchange
- Fundamental Analysis—What Drives the Foreign Exchange Markets
- Foreign Exchange Trading Methods and Strategies
- Important Elements of Successful Foreign Exchange Trading
Essentials of Foreign Exchange Trading By James Chen pdf
19 reviews for Essentials of Foreign Exchange Trading
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Blake Ventura (verified owner) –
Got into currency trading a few months ago and just finished reading this book. Its been a big help in getting me up and running. Has pretty much all you need to understand the forex market and become more comfortable trading. I highly recommend it.
Valentino Weaver (verified owner) –
The author has a very clear and cogent writing style that makes this book an enjoyable read while giving the reader a thorough insight into the sometimes murky field of technical analysis. As the title implies, this book is THE primer that one needs to embark on an extended study of this topic. It was very thorough, as it covered all the most important areas of forex trading. I think he did an especially good job of covering technical analysis as it applies specifically to the forex market. Since I tend to lean more towards fundamental analysis, his book gave me some good insight into how technicals work in helping to point out logical entries and exits.I would highly recommend it!!
Damien Love (verified owner) –
I got this book as a present and I love it. I had been thinking of changing careers from systems analyst and business unit manager at a top “global” bank to self-employed forex trader. This book has been a tremendous help in getting me going. Before this I felt I was dabbling, but this book helped put structure around how I trade. It is a fine introduction to the field, but what was best was the practical advice on how to think about forex strategies. Thanks in part to this book, I am up and running with a few trading programs, and it’s early, but so far so good. I feel confident enough to add a few of my own ideas to some of the trading frameworks in the book. The book is a terrific shortcut to get going quickly trading forex.
Avianna Pace (verified owner) –
I traded forex a couple of years ago and I’ve just gotten back into it recently. Got this book right when it came out because I’ve been following the author’s daily currencies analysis and attended a few of the webinars he gives. From the title of the book I was thinking that it might be a bit basic for me since I’ve traded forex pretty extensively before. But it’s turning out to be extremely helpful because it has a lot of really useful strategies and techniques. The book pretty much goes all the way from beginner to advanced and explains everything really thoroughly and clearly. I have two other books on forex trading that I bought in the past, but this one is by far the most complete and useful one. For me, chapter 5 on forex trading methods and strategies was one of the most comprehensive descriptions of trading strategies that I’ve seen. Also really liked the technical analysis chapter. Definitely recommend this book.
Blake Robbins (verified owner) –
In his book, “Essentials of Foreign Exchange Trading”, James Chen hits all the major technical and fundamental points necessary to become a successful Forex trader. This is a must read for both the novice and professional trader.
Hector Glass (verified owner) –
Good information
Cole Lawrence (verified owner) –
Very good book for most of the essentials of forex.
Teagan Sloan (verified owner) –
Really good intro to Forex trading , very easy to understand and will be referring back probably many times, Cheers Mr Chen
Alonzo Guerrero (verified owner) –
This book has only basic stuff, and also that is writing poorly. No strategies at all. f you are looking for a basic book, you might at well buy getting startedd in currency trading by michael archer.
Boston Harrington (verified owner) –
I absolutely loved this book! It is very straight forward. It is the foundation that anybody who wants to become a great trader needs. He talks about technicals, fundamentals and the psychology of trading currencies. He lays out the warnings that every trader needs to know. I really enjoyed reading “Essentials of Foreign Exchange” and would recommend it to anybody who wants a great foundation to start a trading career upon.
Leonel Strickland (verified owner) –
This is the best book I have read since beginning my Forex educational journey two years ago. James Chen tackles many different areas related to trading the FX and sets them fourth in an easily understandable manner. I came away from the book with a much broader understanding of what it takes to be a successful trader in the Spot Forex market and can not wait to get my hands on his next book, Essentials of Technical Analysis for Financial Markets.
Clare Ramirez (verified owner) –
One of the best decision one can make, that covers all markets.
David Ray (verified owner) –
I’ve either read or skimmed through pretty much all of the books available on forex and technical analysis. I rank this book among the best because it provides all of the most practical information on trading forex that someone needs without holding anything back. And it doesn’t contain a bunch of hype like many other books on trading do. It’s also very clearly written. I’ve already taken a bunch of ideas from this book that are helping me become a much better forex trader.
Ocean Branch (verified owner) –
The book is a solid base for an introduction to forex trading but thats where it stops. There are no real good foundations for solid strategy trading which is what most novice traders look for, after all we just want to make some good returns! If you are looking for good detailed strategies this is not the book for you.
Legacy Elliott (verified owner) –
The book gives a decent tutorial into the world of Forex and gives honest and often hard to accept truths and pointers when it comes to forex trading.
Matilda Pittman (verified owner) –
I bought this book as an introduction to forex, but I wish that I had read it earlier in my career. It’s a great introductory book on technical trading in general. The same tools that are discussed in depth in chapter 5 are used in almost every other technical trading venue (notably stocks and futures). Hedging your bets and risk management are also discussed, and these are generally the difference between an experienced trader and a new one.
If you’re a day trader, trend trader, a researcher on the tools used to model and analyse timeseries data, or an algo trader looking for ideas, this is a great book to start with.
Reid Rowe (verified owner) –
This book is a great introduction to Foreign Exchange Trading, and I can highly recommend it to anyone that wants to understand what the FX market is about. At 240 pages you understand the terminology (bid, ask, close, margin etc) and get a nice introduction to Technical and Fundamental analysis plus a couple of trading strategies. If memory serves me correctly James covers a bit of charting as well. The key thing here is that James covers the essentials of Foreign Exchange Trading without overwhelming you with other topics; which is exactly what I wanted. If you want to understand quite comprehensively the essentials of FX with a sprinkling of analysis and strategy then this is your book. Highly recommend to new comers, and even though you could find the information for free on the web, sometimes its nice to have it collated for you in a book.
Lillian Clayton (verified owner) –
Mr. Chen’s work covers the basics of forex trading quite well and quite thoroughly. Perhaps because of the nature of the book, he does not go into great depth on the specific uses of the various technical tools he defines and does not deal with the difficult specifics of how to set stops or how and where to set targets. I definitely do not consider those to be failings in a book that is clearly designed to acquaint the reader with the basics. In that regard it accomplishes the task admirably in a well written easy to read and easy to understand style.
Zora Hail (verified owner) –
I have spent 20 years researching and trading stocks and bonds, and was interested in currency trading. I purchased a number of books on foreign exchange. I read this book first, Essentials of Foreign Exchange Trading, and I found it an excellent choice. It has also been a good companion to my experimentation and trading on one of the major FX trading websites.
It starts off with a good introduction to the principles of currency trading and includes a discussion of a wide range of trading approaches to help understand which best fit your personality and style. The chapters that dive in on technical analysis (using candlesticks, moving averages, fibonacci/pivot point, elliott wave) are especially good; it is obviously the author’s specialty. That was good for me since my background is in fundamental analysis and the author’s treatment of technical analysis was comprehensive and helpful. The sections on fundamental analyses were good too, although I went through them quickly given my familiarity. My primary focus was to “expand the toolbox” with technical analyses and this book served that goal. Also, importantly, the book is written in an entertaining and fluid style. It was easy to read and absorb.
Overall, I found the book excellent and recommend it.