Forex for Beginners: A Comprehensive Guide to Profiting from the Global Currency Markets is a guide for those who want to earn extra income trading currencies without committing large amounts of time or money. This book will introduce global investors to the basics of forex (foreign exchange) trading and provide them with a solid framework for analyzing currencies and profiting from their fluctuations. Topics covered include the forces that cause exchange rates to fluctuate, an overview of the mechanics of trading, analytical and forecasting tools, how to profit from pricing trends, and common pitfalls that often ensnare traders.
Author’s Introduction:
I’ll begin by offering an overview of how the forex market has historically operated and explain how it differs from some of the other financial markets, in both positive and negative respects. After a brief discussion of history, I will move directly into the forces that cause exchange rates to fluctuate. There will be an overview of trading strategies and an in-depth discussion of the various analytical tools that investors can use to develop such strategies.
I will explain how to choose a broker and open an account, and conclude with some commonsense wisdom on avoiding certain pitfalls and maximizing your odds of success in the forex market. Throughout the entire book, examples are both abundant and topical to make the presented concepts more concrete. Given that this book was written from 2011 to 2012, there will be a special emphasis on the credit crisis, as well as on the years that preceded and followed it.
Before I get into the nuts and bolts of forex, I want to offer a brief caveat: this book should not be filed under the domain of get-rich-quick schemes. There is no undiscovered opportunity and certainly no free lunch in forex. There are no magic formulas, no risk-free trading systems, and no guarantees of instant profits. The global currency market is by far the largest financial market in the world. Participants are savvy, and competition is fierce. To achieve success in forex trading requires the same dedication and hard work that it takes to succeed in one’s normal professional life. That being said, there are many aspects of forex-to be explained in great detail-that distinguish it from other asset markets and make it an attractive alternative for jaded stock market investors.
This book is intended to fill a void in existing financial literature. Most forex primers tend to devote tremendous space to technical analysis-the study of charts and price patterns-and are almost completely lacking in context. They posit that high-frequency, short-term trading is the only viable method for generating enough profit to sustain oneself as a full-time trader. For a number of reasons, however, the chances of succeeding with this strategy are extraordinarily low, and the majority of such traders tend to fail fast and fail big.
This book, in contrast, will probe more deeply into the currency markets and introduce a broader-based approach to forex trading. Readers can expect to obtain both a concrete understanding of what makes forex different from other financial markets and the ability to craft specialized strategies to profit from it. To the silent majority of readers that are interested in forex for the potential to earn supplemental income, for portfolio diversification, or merely as a hobby, this book is for you.
Contents:
- Historical Background
- What Are Your Options?
- What Makes Currencies Move?
- Forex Analysis
- Fundamental Analysis
- Technical Analysis
- Trading Strategy
- Opening an Account
- Account Management
- Pitfalls and Risks
- Successful Investing
Forex for Beginners: A Comprehensive Guide to Profiting from the Global Currency Market By Adam Kritzer pdf
Oakley Cole (verified owner) –
A well written intelligent introduction to the Forex game.
Although it doesn’t go into great detail in any one area, it covers all the bases and points a beginner like me in the right direction. Kritzer’s approach is conservation and favours a fundamental style of investment analysis, recommending long term investments over the short term, high stress, day trader method. Nevertheless he gives fair coverage of how to play both styles of the game.
There is no evidence of bias in his recommendations, and he gives honest and appropriate warnings of the risks and pitfalls. If I do decide to enter the market, and if I fail, I have been properly warned.
Elisabeth Lara (verified owner) –
This was an excellent book for those who are new to foreign exchange, or those who have been doing it for quite some time without really knowing what they were doing (as in my case).
Sariah Gardner (verified owner) –
The best part about this book is that it doesn’t promise you to get rich or try to blind you with big returns like other books (or egos.) Rather, the author gives his humble opinion, which is backed by insightful logic, and solid analysis and experience, in order to help the reader start thinking about how to approach ForEx. A great read for any individual investor who is looking to diversify their portfolio or business student who is considering a future in investment management.
Raylan House (verified owner) –
This is a great beginning resource for anyone who is a novice to currency exchange. I had no experience in the field and after reading Mr. Kritzer’s book I feel ready to make a start in my own practice. I thought the reviews of each individual country’s currency system was especially useful and gave me a ‘lay of the land’ before diving in.
The prose style is clear and concise with enough detail to fully inform the reader but not flood him with unnecessary facts. Anyone considering a new career or side project in currency exchange would benefit from reading this excellent book.
Alan Potts (verified owner) –
This book is a great introduction to a challenging field for anyone interested in how it works or looking to possibly get involved with FOREX markets in the future. As a rising college junior studying finance, the introduction and chapter on fundamental analysis of FOREX markets were particularly useful to me. The introductory chapter gave a useful and easily understood overview of the history and development of foreign exchange markets over the past 80 years as well as analysis of market structure in a concise and intelligent manner. The fundamental analysis chapter put trading concepts and analysis in clear and comprehensible terms, with graphs to help. Overall the book is worth a read for anyone interested in FOREX and trading at a beginners level.
Calum Little (verified owner) –
This book as an excellent resource for anyone interested in foreign exchange. The writing is clear and articulate, and the author provides a comprehensive and balanced introduction into the forex market.
This is not a “get rich quick” book; rather, it is a fascinating window into a massive sector of the global economy that largely flies under the radar of the general public. The author clearly knows the subject inside and out, and he gets into some rigorous statistical analysis of currency markets and trends. However, the writing is not excessively convoluted or jargon-y. I have followed currency markets for years myself, and I appreciate finding a text that covers forex so thoroughly, with more a few fresh insights included as well. I’d recommend this text to anyone interested in forex.
Ellison Finley (verified owner) –
Clear, concise and well reasoned. Probably a good place to start for most beginners. Much better investment of time vs. putting this altogether (or trying to) from various internet sources. Strong writing, well researched and communicated.
Margaret Christensen (verified owner) –
The book is a comprehensive background on forex trading. If one is new to trading or has done little background reading, then this book could be helpful
Caiden Richardson (verified owner) –
It’s history about Forex, not for an active trader.
Allison Jefferson (verified owner) –
Since doing business on a world-wide basis, I wanted to know how markets differ and also what impacts the various fluctuations. I wanted to read about this, but didn’t want it to get too over technical. This book places the emphasis of the FOREX market in terms that are easy to understand for a newbie. With an interest in doing some day trading, this helped me better understand the details I would see in the various charts I view on my computer. I feel much more confident after reading this book, as before it was more like having a little bit of knowledge that made me dangerous. Now I feel like I have understanding and knowledge, which gives me confidence.
I particularly liked the chapter on what makes the currencies move. If you are looking for an understanding of this market, check out this book.
Gregory Jarvis (verified owner) –
This book is better than many of the other expensive forex trading books I came across, mainly because: a) the author is writing with the reader in mind; b) he remains objective and his attitude down to earth; and c) he leaves out a lot of details which would be obstacles to understanding the message. I manage to go through the book quite effortlessly and feel satisfied. I hope to see perhaps a more advanced book from the author in the future.