Mastering the Currency Market: Forex Strategies for High and Low Volatility Markets Hardcover – Nov 30 2009
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From the Back Cover
Make Volatility and Risk Work for You with Forex Trading!
This book should be in every trader/investor s library. As we come out of this depressed market . . . this book can be your companion, helping you avoid mistakes and enhance your trading/investment program.
Bill M. Williams, author of "Trading Chaos"
Whether you re just getting started trading the world s most exciting financial market, or you re looking to add to your trading edge, [the authors] have written an engaging book packed with powerful techniques that you can use right now.
Rob Booker, trader, author, educator, and founder and host of TraderRadio.net
Forex traders perform exceptionally well in highly volatile, risky, and active markets. And with the leveling out of international markets and the increase in competition this breeds, dramatic growth is virtually assured so now is the time to enter this exciting and lucrative market.
"Mastering the Currency Market" walks you through all the steps for entering the market with the confidence and smarts you need. It provides a solid foundation on the basics of foreign exchange, then examines more advanced topics, such as: Hedging against fluctuations in currency values Long-range planning and risk management Techniques applicable to countertrending and low-volatility markets"
About the Author
Jay Norris is a senior market strategist and trading instructor for BrewerFX in Chicago. He worked on the trading floor of the Chicago Board of Trade throughout the 1980s and 1990s in various roles before moving to the customer side of the business in 2001. He has published several articles about trading in Technical Analysis of Stocks & Commodities magazine.
Al Gaskill is an independent trader, an instructor, and a principal in Brewer Investment Group.
Teresa Bell is an educator for www.Trading-u.com.
Top Customer Reviews
Most Helpful Customer Reviews on Amazon.com (beta)
The editorial review says the book is divided into these sections:
* The basics of trading currencies
* Fundamental analysis of price valuation
* Technical analysis and trading charts
* Trading philosophy and psychological discipline
* Volatility and risk management
The first 2 sections are the only parts of the book that offer anything unique to currencies. And out of a 292-page book, these sections end after only the first 48 pages. The rest of the book is a basic technical analysis indicator training manual with some candlestick signals thrown in the mix. Starting with simple candlesticks, covering basic chart patterns and looking at multiple time frames for trade confirmation. The book ends with a short treatise on psychology and trading journals, subjects that have entire works dedicated solely to them. There are no unique "Forex" strategies, just basic technical analysis education.
Chapter 1 discusses the basics, names of currency pairs, market times, etc.
Chapter 2 although seemingly lacking real depth may give the most insight to someone interested in mastering currencies. It discusses economic factors affecting currencies and the price movement. There is a handy chart showing economic reports and the usual effect they have on individual currencies.
There is no detailed insight to the individual currency trading instruments or to the Forex market in general. Interesting, the title suggests strategies for high and low volatility. Looking in the book's index, volatility is discussed on one page, in one small paragraph, and it is a less than an introductory discussion. Which Forex strategies work best in which type of market? Where are the high and low volatility examples? What are the best pairs to trade? How do we hedge? Is there any currency correlation? We may never know.
It would have been simpler for the authors to write the first 2 chapters and then add a page that says, "Apply standard technical indicator trading techniques to the currency market." and end the book there.
If you were a beginner trader, I would say you could add this to your library. However there are hundreds, maybe thousands of technical analysis books on the market, many better than this. We surely do not need another one.
Perhaps a better name for the book would have been "A Beginners Guide to Technical Analysis: With some Forex pairs used as examples." Had that been the name, I would have saved myself the return shipping. 2 stars for basic technical analysis, 1 star for any real Forex insight.
One thing to take in account on all Amazon reviews. Reviewers who have only reviewed the item you are researching should be subject to suspicion. Click on the username to see if the reviewer has any history on Amazon and make your choice wisely.
This is a great Book for Forex Traders and anyone who wants to learn about Forex. The Book is straight forward and simple to understand. I've been trading for a while and I still found this book more than just a review. I like how the author pulls everything together in Chapter 9. Here, the book goes beyond just the technical's and shows you how to pull it all together. For me, the trade signals/triggers were helpful. The strategy was different from what I use and this book laid out a better way. I'm now using the new information in my trading and it really helps.
This book is not just about tech analysis. If you are looking for a book on "only" technical analysis there are others you might find more helpful. Personally, I think technical analysis is really simple. The hard part is applying the technical's to a moving market so you can make money. That is what I like about the last chapters in the book. The principals are sound and overall I would recommend this book to anyone looking to better their Forex trading.
Chapters 1-8 are basic introductions to the world of forex (including the influence of fundamentals) and technical analysis. Chapter 9 ties all together in trade signals. Chapters 10-13 discusses trading philosophy and risk management. i gave the book 4 stars in that it is a complete manual for trading ....... if you use MACD/Stochastic/RSI combination. there are no new revelations about forex or trading in general, no special techniques or secrets, and nothing you would not have read elsewhere on the internet. However this does not imply the methods don't work, as the authors had successfully traded and taught the same methods for years to their clients and students.
for beginners and novice traders, this book is all-in-one manual and you don't have to read hundreds of internet articles only to find the same materials are covered comprehensively in this book. it will give you a good start in using MACD/Stochastic/RSI combination. i personally don't use MACD and quickly discovered in Chapter 9 that i would not be using the trade signals they taught (no 5 stars). however, i found the book very well written and had in fact gone back to finish reading the other chapters for the basics, no matter how experienced i may be.
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