By James Chen
This foreign exchange e-book presents readers with genuine, sensible info on tips on how to exchange the foreign currency echange industry successfully. It starts off through protecting introductory details at the currency marketplace, together with uncomplicated buying and selling mechanics and the advantages of foreign currency trading, after which is going directly to describe particular currency exchange tools and abilities in step by step aspect. This comprises hugely useful info on technical and basic research, chance and cash administration, and robust foreign currency trading innovations. those concepts have confirmed super powerful in assisting investors play the foreign money video game to win.JAMES CHEN, CTA, CMT (Montville, NJ) is leader Technical Strategist at FX ideas, a number one foreign currency echange dealer. knowledgeable on foreign currency trading and technical research, he's additionally a registered Commodity buying and selling consultant (CTA) and a Chartered marketplace Technician (CMT). Mr. Chen writes day-by-day foreign money research, leads foreign currency trading seminars, and has authored various articles on forex process and technical research for significant monetary guides. those contain Forbes.com, Futures journal, Technical research of shares and Commodities journal, and shares, Futures and innovations (SFO) journal.
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Extra resources for Essentials of Foreign Exchange Trading (Essentials Series)
Prechter Jr. Robert R. com) and executive director of the Socionomics Institute. Legendary for his market timing and trading acumen utilizing Elliott Wave principles, Prechter has won numerous major accolades from the media and financial community over an illustrious, decades-long career. He has authored many books, several of which were instrumental in bringing Ralph Nelson Elliott’s groundbreaking Elliott Wave Principle into the forefront of financial market analysis. Prechter states: “Currencies help us understand a fundamental aspect of markets.
That is, once a trade is entered, whether it is a buy or sell, the open position immediately displays a running loss equivalent to the magnitude of the spread. The spread deficit then needs to be overcome by favorable price movement before the trader can break even and have the opportunity to profit off the position. It should be made clear that this spread is charged only once on an entire trade cycle, from the open of the position to the close. Spreads are never charged twice on a single round-turn trade.
W hat to Expect from This Book The core of this book begins with in-depth descriptions of basic foreign exchange trading mechanics in Chapter 2. This includes all of the terminology and explanations necessary to get started in foreign exchange trading. From the structure of a currency pair to the intricacies of margin and leverage as they pertain to forex trading, Chapter 2 will get true beginners up and running quickly. The chapter is also directed at experienced traders coming from other financial markets, serving as a thorough discourse on the unique intricacies of trading currencies.
Essentials of Foreign Exchange Trading (Essentials Series) by James Chen