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Forex Frontiers: The Essentials of Currency Trading Hardcover – Sep 1 2011


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Product Details

  • Hardcover: 228 pages
  • Publisher: Merritt House Publishing; 1st edition (Sept. 1 2011)
  • Language: English
  • ISBN-10: 0986580325
  • ISBN-13: 978-0986580321
  • Product Dimensions: 23.1 x 16.3 x 2.5 cm
  • Shipping Weight: 590 g
  • Average Customer Review: 2.0 out of 5 stars  See all reviews (1 customer review)
  • Amazon Bestsellers Rank: #3,331,454 in Books (See Top 100 in Books)

Product Description

Forex Frontiers: The Essentials of Currency Trading is the first book of a trilogy and is designed to jumpstart anyone's desire to enter the exciting world of Forex. One of the core features of this book is that it presents a step-by-step guide on how to develop your own Forex trading strategy by using all the concepts explained in the book. If you are new to Forex then you should definitely read The Essentials of Currency Trading. It will place you on the right road to Forex enlightenment by showing you how to safeguard your equity. In addition, you will be shown how to adopt the best trading practices from the outset. Forex Frontiers: The Essentials of Currency Trading explains why so many struggle with Forex and lose. Afterwards, you are provided with a solid foundation and understanding on which you can develop a profitable Forex experience.

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Format: Hardcover
The foreign exchange market (forex) is a global, decentralised financial market for trading currencies thus determining the relative values of different currencies. The primary purpose of the foreign exchange market is to enable international trade and investment by allowing businesses to convert from one currency to another. However, it also enables direct speculation in the value of currencies as well as the carry trade - speculation on the change in interest rates in two currencies.

The foreign exchange market is both complex and unique. Some of its characteristics include:

* A huge trading volume (between 2 and 4 trillion US dollars per day); and
* Continuous 24 hour per day operation, except for weekends
There are a number of factors that affect exchange rates and the margins of relative profit are low.

Foreign exchange trading was once the exclusive domain of professional traders, but as a consequence of various factors (including internet connectivity) almost anyone can participate. But should they? And what do they need to know in order to participate effectively?

In this book, author Ivan Cadric sets out to provide the information a novice would need in order to be successful in the forex market. According to the book cover, Ivan Cadric is a fully registered Investment Advisor and `a licensed Specialist in trading securities, opions [sic], commodities and futures.' `Ivan has successfully traded Forex since 2002 using proven trading strategies that he has personally developed along the way. In particular, he has designed a number of financial management systems which he considers to be the cornerstone of his Forex success.'

I have worked with exchange rates but not as a currency trader.
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Most Helpful Customer Reviews on Amazon.com (beta)

Amazon.com: 2 reviews
1 of 1 people found the following review helpful
`Beginners should never be deceived by thinking that FOREX is relatively simple to master.' Oct. 22 2011
By Jennifer Cameron-Smith - Published on Amazon.com
Format: Hardcover
The foreign exchange market (forex) is a global, decentralised financial market for trading currencies thus determining the relative values of different currencies. The primary purpose of the foreign exchange market is to enable international trade and investment by allowing businesses to convert from one currency to another. However, it also enables direct speculation in the value of currencies as well as the carry trade - speculation on the change in interest rates in two currencies.

The foreign exchange market is both complex and unique. Some of its characteristics include:

* A huge trading volume (between 2 and 4 trillion US dollars per day); and
* Continuous 24 hour per day operation, except for weekends.

There are a number of factors that affect exchange rates and the margins of relative profit are low.

Foreign exchange trading was once the exclusive domain of professional traders, but as a consequence of various factors (including internet connectivity) almost anyone can participate. But should they? And what do they need to know in order to participate effectively?

In this book, author Ivan Cadric sets out to provide the information a novice would need in order to be successful in the forex market. According to the book cover, Ivan Cadric is a fully registered Investment Advisor and `a licensed Specialist in trading securities, opions [sic], commodities and futures.' `Ivan has successfully traded Forex since 2002 using proven trading strategies that he has personally developed along the way. In particular, he has designed a number of financial management systems which he considers to be the cornerstone of his Forex success.'

I have worked with exchange rates but not as a currency trader. I am familiar with the volatility of the market and am aware of some of the factors that impact on exchange rates. In short, I know a little about this particular market and was interested in learning more. I found some interesting and useful information in this book, and the author's enthusiasm is readily apparent.

Unfortunately, I have a number of issues with the presentation. Consider this sentence: `For example, if a trader has an ego, this will likely result in difficulties coping with losses.' (Page 55) or `Be aware that traders often have a habit of responding immediately to the headlines of a data release. Consequently, their instant reaction is capable enough to force price to surge in a particular direction.' (Page 119) I think I know what the intended meaning is in each case, but in both cases it could be much clearer. There are some typographical errors which jerked me out of the book at times: `you're' and `your' mean two entirely different things. These types of errors are careless and serve, for me at least, to undermine both the sense and the credibility of the message being delivered.

The other aspect which concerned me was frequent reference to various coloured lines in what are black and white diagrams. If there's only one line, then I can assume that it is the blue (or green) line referred to, but what if there is more than one line?

There is some good information in this book, although intending readers should note that it is the first in a trilogy on the subject of `Forex Frontiers' and this book alone is presumably not enough to enable the novice to be successful in the forex market.

`Take care of your losses and the profits will come by themselves.'

Note: I won a copy of this book.

Jennifer Cameron-Smith
0 of 1 people found the following review helpful
From Peter Scholtens July 3 2011
By Ivan - Published on Amazon.com
Format: Hardcover
I am no expert on investing in foreign exchange markets. However, I do have some experience in teaching and training, and a little experience with investment psychology. It is from that perspective that I recommend Ivan Cavric's book Forex Frontiers: The Essentials of Currency Trading, the first in a trilogy, as a gem in the making. It has the potential to be a successful how-to book, jumpstarting the abilities of anyone desiring to explore the world of forex, while helping the budding forex trader avoid the pitfalls that most forex traders fall into.

As a how-to book, it fulfills the following standards for success:

First, it is information-rich, giving a good sense of the parameters of what is involved with getting into foreign exchange trading. Second, it gets to the point quickly, filling in the details on what it takes to be a successful forex investor. Third and last, it provides a plan of action to become a successful forex investor, as well as the promise of further reading to help master the subject.

Forex Frontiers: The Essentials of Currency Trading covers the basics of forex investing, starting right from square one. The first half of the book includes an introduction to the markets, a discussion of the possibilities of failure, and the potential for success. An entire chapter is devoted to the necessity to develop a proper investment psychology. There are discussions of introductory issues such as selecting a strategy, an introduction to technical indicators, selecting a broker, and other challenges.

The second half of the book begins with a discussion of risk and money management, including managing losses and profits. Chapters introducing fundamental analysis and discussing technical analysis in more detail form the core of the second half of the book. The book ends with an important discussion about designing a forex strategy, and a case study of a sample forex strategy.

What I especially appreciate about Cavric's book is its measured, cautious, and deliberate approach to forex investing. Rather than promising great riches and gain in short periods of time, it stresses the need to be disciplined, to develop a strong investment psychology, and to cultivate and follow a trading strategy, rather than playing around and changing strategies often, or worse, to have no strategy at all.

As such, Forex Frontiers: The Essentials of Currency Trading is a an excellent introduction to the discipline of forex investing. It does not promise too much, but pointing out to its readers the opportunities that exist if the right approach is taken. I am looking forward to the next installment in the series.


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