Forex DeMYSTiFieD illuminates the key concepts you need to know and explains how to utilize them in the real world. It teaches you how currency trading and overall investing relate and the role of forex in international business and the corporate world.
Introduction:
As you read this book you will learn the basics of what makes up a Forex currency trade. You will also learn the concepts behind the huge amounts of leverage that can allow even the smallest of FX accounts to produce very large profits. It is true that it is possible for you to make 10%, 12%, or even 15% profit on a trade in one day. It is also true that it is possible to make this amount of profit by trading in the evening hours and close out the trade in the morning, allowing you to trade Forex while still having a full-time job.
It is also possible to get to those levels of overnight profit and limit your risk.You will learn these risk-management solutions in this book, as well as methods for using software to automatically close out your trades at set profit points, allowing you to “set it and forget it” and walk away from your trading desk.
In this book you will also learn how to search out and use what is known as fundamental information about a currency and make your own conclusions as to which currencies will be good to trade. This, in addition to lessons on how to use charts, adds up to a good, solid introduction to the subject of Forex trading.
The reason to read this book is simple: You’re not new to the markets; you might have tried your hand at stocks or mutual funds. Now you’d like to move on to something more exciting, and possibly something more challenging. While it is often said that trading equities is the most basic form of trading, you will see that learning how to trade currencies is not hard. You will see that once the basics are learned, it can be quite doable to read the news, interpret the market, see the values in Forex pairs, and place FX trades, all while managing risk.
Contents:
- Introduction to Forex
- Getting Ready to Trade
- How to Navigate the Online World of Forex Trading
- Currency Trading and Overall Investing: Will FX Fit My Investing Goals?
- More Tips on Forex Trading
- Using Research for Better Forex Trading
- How to Make Trading Ideas Work
- How to Look for Good Forex Setups
- Forex in the Corporate Environment