Today, millions of individual traders and investors all over the world are discovering the excitement and challenges of trading in the forex market. You don’t even have to be at your desk to trade — these days, you can trade on the go using a smartphone or other handheld device.
No question about it, the forex market can be one of the fastest and most volatile financial markets to trade. Money can be made or lost in a matter of seconds or minutes. At the same time, currencies can display significant trends lasting several days to weeks and even years. Most important, forex markets are always moving, providing an accessible and target-rich trading environment.
In contrast to stock markets, which are more familiar and relatively intuitive to most investors, the forex market somehow remains more elusive and seemingly complicated to newcomers.
In this book, we show you how the forex market really works, what moves it, and how you can actively trade it. We also provide you with the tools you need to develop a structured game plan for trading in the forex market without losing your shirt. We cover the following:
- Getting a handle on the forces that drive currency movements
- Understanding forex market trading conventions and strategies
- Interpreting economic data and official statements
- Finding sources of data and market intelligence
- Gauging market psychology, sentiment, and positioning
- Identifying key traits of individual currency pairs
- Utilizing technical analysis to spot ...