Currencies by Country:

Learning about the Foreign Exchange Industry and Trading

As the foreign exchange industry grows, investors are eager to learn just what it has to offer and how to earn money. There are hundreds of books on the topic of spot currency trading and the foreign exchange industry with new ones published every month. All these books claim to help teach both the novice trader and the experienced trader about the industry and the best ways to make money. However some of them do a significantly better job than others.

Day Trading the Currency Market: Technical and Fundamental Strategies to Profit from Market Swings, Kathy Lien

Kathy Lien, chief strategist at Forex Capital Markets, is responsible for providing research and analysis for DailyFX, including technical and fundamental research reports, market commentaries, and trading strategies. Her book reveals a variety of technical and fundamental profit-making strategies for trading the currency market. Everything is described from time-tested technical and fundamental strategies to a host of more fundamentally oriented strategies that are drawn from the author’s own experiences with the somewhat secretive multi-billion dollar inter-bank currency market, involving inter-market relationships, interest rate differentials, option volatility, news events, and central bank intervention. It also gives an in-depth overview of each of the major currencies.

Readers have given it rave reviews, scoring five stars on Amazon.com and other similar websites that poll readers. It is said to be the best overview of various economic topics, including interest rates, balance of payments, commodities, and bond prices as they relate to the foreign exchange industry.

Technical Analysis of the Currency Market: Classic Techniques for Profiting from Market Swings and Trader Sentiment, Boris Schlossberg

Aside from being the Senior Currency Strategist at FXCM, Boris Schlossberg also co-edits both the FX section on Investopedia.com and The Money Trader on money-trader.com. His book provides the reader with practical, market-proven currency trading weapons as well as solid strategic knowledge. It explores the important similarities and differences between the FX market and other financial markets as well as describes the key themes that drive the currency markets and which technical tools traders can use to best exploit these themes. Mr. Schlossberg gives us his insights on technical analysis and examples for both trend and range trading setups in addition to discussing the methods for spotting common price patterns that are the building blocks for understanding and interpreting price fluctuation. Simply put, this book aims to educate new traders on how to make money by eliminating costly beginner’s mistakes and focusing on simplicity.

Similarly to Ms. Lien’s book, it has scored outstanding reviews by readers including five stars on Amazon.com. This book will give you the skills and confidence you need to make money in the global currency market.

Getting Started in Currency Trading: Winning in Today’s Hottest Marketplace, Michael Archer & Jim Bickford

Michael Archer, an active commodity futures and forex trader for over thirty years and currently CEO of commtools.inc along with Jim Bickford, a technical analyst and active day trader of the foreign exchange market, wrote Getting Started in Currency Trading as both an introduction and reference tool to the exploding foreign exchange trading market. After a clear description of the foreign exchange market and a section of foreign exchange terms clearly defined with examples, the book goes on to show readers how to open their own trading accounts, inside shots of a dealer’s trading platform, and a walk through of placing and liquidating orders. Later chapters introduce various trading strategies and tactics in detail, along with some fundamental and technical analysis to assist the trader in their decision-making process.

Forex Trading for Maximum Profit: The Best Kept Secret off Wall Street,Raghee Horner

Raghee Horner, legendary not only as a top Forex trader, but as a master teacher of trading systems and techniques, aims to enable you to understand how the foreign exchange industry operates and lays out a map for getting started in this highly profitable industry. Ms. Horner shares her winning tools and methods, including classic charting techniques, price action, and market psychology with the readers, enabling them to capitalize on and make money in the foreign exchange market, regardless of their skill level. This book is filled with in-depth trading insights and practical advice allowing the reader to be come familiar with this dynamic market and understand the thought process of an accomplished trader such as Horner.

Other Books to Consider:

Foreign Exchange in Practice: The New Environment, 3rd edition – Steve Anthony

Trading in the Global Currency Markets, 2nd edition – Cornelius Luca

The Currency Trader’s Handbook – Rob Booker

Currency Strategy: The Practitioner’s Guide to Currency Investing, Hedging and Forecasting – Callum Henderson

Related Topics