The Art of Currency Trading is a comprehensive guide that will teach you how to profitably trade currencies in the real world. Author Brent Donnelly has been a successful interbank FX trader for more than 20 years and in this book, he shares the specific strategies and tactics he has used to profit in the forex marketplace. The book helps investors understand and master foreign exchange trading in order to achieve sustainable long-term financial success. The book builds in intensity and depth one topic at a time, starting with the basics and moving on to intermediate then advanced setups and strategies.
When I was in my 20s, I used to greet most trading books with cynicism. I would think something like: ‘‘If you’re such a great trader, why would you write a book about it? Aren’t you giving away all your secrets? And anyway, what do you need money from writing a book for? Shouldn’t you be rich already from your superhuman trading skills?’’ Let me answer.
First of all, there are no secrets to trading, only knowledge, skill, experience, and psychology. And even if I share all my knowledge, skill, and experience, the psychology bit is by far the hardest part. You can master all the skills, tactics, and strategies and you will still fail if you cannot control yourself. And besides, currency markets are huge. Five trillion dollars a day transact in FX. There is always room for a few more skilled traders. I do not mind sharing what I know at this point. There is no downside for me.
And about the money: You don’t get rich writing nonfiction books. The reason I wrote this book is simply because I love to write. And because I love trading. And I think that after more than 20 years of trading, I have something interesting to say about trading generally and currency markets specifically. I hope you agree. This book will show you how to come up with intelligent trade ideas using macro fundamental and technical analysis, market psychology, positioning, sentiment, and cross-market correlation. You will learn exactly how to trade the news and economic events. And you will understand the importance of rigorous and systematic risk management.
The book starts with the basics of currency trading and quickly builds to more advanced concepts. While the book works for beginners and quickly brings them up to speed before introducing more advanced topics, my intention is that The Art of Currency Trading will appeal to and educate even the most expert and experienced FX trader. Remember, anyone can learn the rules. Very few can stick to them. Even after more than two decades of trading, I still struggle to stay disciplined and unemotional each day. It is easy to make stupid mistakes, show poor self-control, and go on tilt, no matter how experienced you are.
Each day you walk in to trade the currency market, you battle not just countless algorithms, Ivy league–educated hedge fund professionals, machine learning bots, highly experienced interbank traders, central banks, veteran corporate and real money hedgers, and skilled retail traders. You battle yourself. And even when you win the internal battle and show great self-discipline, every victory is temporary. You must constantly adapt to an ever-changing and highly efficient market.
This book will make you a better currency trader. It will help you understand what moves currency markets, show you how to generate profitable trade ideas, and teach you expert execution methods. This book will help you master foreign exchange trading and achieve sustainable long-term trading success. This book will help you make more money. This book will teach you the art of currency trading.
- A Very Brief History of FX
- Currency Trading Basics
- Understand Market Structure
- Understand Fundamental Analysis
- Understand Technical Analysis
- Understand Correlation and Intermarket Relationships
- Understand Behavioral Finance
- Trading the News
- Understand Free Capital
- Understand Position Sizing
- Characteristics of a Successful Trader
- Common Weaknesses in Trading
- The Voice of Experience