Getting Started in Currency Trading is intended to introduce the novice investor to the exciting, complex, and sometimes proﬁtable realm of trading world currencies on the foreign exchange markets (FOREX). It also serves as a reference guide for stock and futures traders who wish to explore new trading opportunities. My primary focus is on the rapidly expanding and evolving online trading marketplace for spot currencies, generally referred to as retail FOREX. There are five main parts to this book:
- Part 1—The Foreign Exchange Markets: I open the book with a brief overview of the FOREX markets, a question-and-answer historical overview of currency trading, and the two primary methods for participating in the markets as a retail trader. I hope to dispel any myths the reader may have about FOREX.
- Part 2—Getting Started: Every lucrative industry has its own gamut of highly specialized terms, and currency trading is no exception. You must thoroughly comprehend these terms before attempting to initiate any trades. With a little familiarization, the jargon of currency trading will become second nature. This section must be understood before the reader proceeds to the later sections.
- Part 3—The Tools of the Trade: Historically, there have been two major schools of thought in this endeavor: fundamental analysis and technical analysis. I explore the advantages and disadvantages of both schools in the chapters in this section. I offer ideas on selecting from these trading tools to assemble a basic, personal trading approach. The ﬁnal chapter previews the wealth of FOREX products and services now available from third-party vendors.
- Part 4—The Complete FOREX Trader: In this section, I expose the trader to the psychology of trading and the stresses that may accompany same. I place much emphasis on money management and psychology—two key topics vital to success but often neglected in the search for the holy grail of trading methods. Tactics and Strategy proffers a potpourri of ideas from my own trading experience.
- Part 5—Extra for Experts: A single chapter covers options and exotics. A final chapter briefly discusses advanced strategies such as rollovers, hedging, and arbitrage, and proffers a speculative look at the future of FOREX. This section is optional for the novice trader though investors with some trading experience will find it informative.
- The FOREX Landscape
- A Brief History of Currency Trading
- Spot or Futures FOREX?
- The Regulatory Environment
- The FOREX Lexicon
- The Calculating Trader
- Selecting the Right FOREX Broker for You
- Opening a FOREX Account
- Pulling the Trigger
- Fundamental Analysis
- Technical Analysis
- The Toolbox Approach
- The FOREX Marketplace
- Psychology of Trading
- Money Management Made Simple
- Tactics and Strategy
- When and How to Regroup
- For the Record
- Options and Exotics
- The Final Frontiers
Getting Started in Currency Trading: Winning in Today's Forex Market By Michael Archer pdf