Getting Started in Currency Trading - Winning in Today''s Market + Companion Website

Informationen zum Autor MICHAEL DUANE ARCHER has been an active futures and FOREX trader for over thirty-five years. He has worked in various advisory capacities, notably as a commodity trading advisor, registered SEC investment advisor, and branch manager for Heinold of Hawaii. Archer currently trades and is involved in several technical analysis research projects. He hosts the FOREX website www.goodmanworks.com. Klappentext THE ESSENTIAL GUIDE TO CURRENCY TRADING, FULLY REVISED AND UPDATED GETTING STARTED IN CURRENCY TRADING FOURTH EDITION "Knowledge is a prerequisite for success in any endeavor, particularly currency trading. Michael Archer's excellent book conveys the author's long experience and expertise. It will save the aspiring currency trader years of trial and error." ?Peter Panholzer, Managing Partner, DynexCorp Ltd. " Getting Started in Currency Trading ??provides both new and experienced traders alike with the knowledge required to successfully navigate in the complex world of foreign exchange trading. Michael Archer shares the little-known trading methodology, the 'Goodman Method of Trading,' elements of which I employ every day. As preparation for joining the growing ranks of FOREX traders, this book will first become a comprehensive text for study and later a valuable resource to keep nearby as an often used desk reference guide." ?Ron Rossway, President, Denver Trading Group "As a student and friend of Michael Duane Archer, I strongly recommend?? Getting Started in Currency Trading, Fourth Edition to any serious trader who wants an in-depth knowledge of FOREX and wants to have success trading in the FOREX markets today." ?Theunis Hattingh, FOREX and options trader Trading international currencies on the foreign exchange (FOREX) markets is one of the hottest topics in investing today, but the potentially enormous returns are tempered by substantial risks for those who don't know what they're doing. Getting Started in Currency Trading, Fourth Edition is here to help, carefully explaining everything you need to understand in order to trade currencies safely and profitably. Packed with information on the latest developments in the field and providing access to additional resources online, this is the only book you need to start currency trading right away. Zusammenfassung The definitive introduction to FOREX tradingGetting Started in Currency Trading! Fourth Edition is both an introduction and a reference manual for beginning and intermediate traders. Starting with a description of the Foreign Exchange (FOREX) market and a brief history! the book includes an invaluable section made up of relevant FOREX terms clearly defined using examples. The FOREX market has grown substantially and evolved dramatically in recent years! and this new edition is designed to help the reader to adapt and take advantage of these changes.Including coverage of how to open a trading account! a step-by-step walk through the physical processes of placing and liquidating currency orders! and information on trading strategy and tactics complete with fundamental and technical analysis! the book has everything needed to assist the trader in the decision making process.* New edition is revised and expanded to take into account all of the recent changes in the currency market* Now includes a step-by-step introduction for the new trader and additional material on regulation* FOREX arithmetic calculations are presented in a clear! easy to understand way* Recommendations! guidelines! and caveats appear throughout the bookThis new edition of Getting Started in Currency Trading contains significant new information! including a chapter on computers and FOREX! managed FOREX! and new information about regulation! alongside the author's successful trading plan! designed to help the reader put it all together. Inhaltsverzeichnis

Table des matières

Acknowledgments xix
 
Introduction
 
About This Book xxi
 
Part 1 The Foreign Exchange Markets
 
Chapter 1 The World of FOREX 3
 
Introduction--What Is FOREX? 3
 
What Is a Spot Market? 4
 
Which Currencies Are Traded? 4
 
Who Trades on the Foreign Exchange? 5
 
How Are Currency Prices Determined? 6
 
When Do Currencies Trade? 8
 
How Is Money Made in FOREX? 8
 
Why Trade Foreign Currencies? 9
 
What Tools Do I Need to Trade Currencies? 13
 
What Does It Cost to Trade Currencies? 13
 
FOREX versus Equities 14
 
FOREX versus Futures 14
 
Summary 15
 
Chapter 2 A Brief History of Currency Trading 17
 
Introduction 17
 
Ancient Times 17
 
The Gold Standard, 1816 to 1933 18
 
The Federal Reserve 18
 
Securities and Exchange Commission, 1933 to 1934 20
 
The Bretton Woods System, 1944 to 1973 21
 
The End of Bretton Woods and the Advent of Floating Exchange Rates 21
 
International Monetary Market 22
 
Into the Millennium 22
 
Arrival of the Euro 23
 
The CFTC and the NFA 25
 
Summary 25
 
Chapter 3 Five FOREX Markets 27
 
Introduction--Spot, Futures, Forwards, Options, Spread Betting 27
 
Currency Futures 29
 
Contract Specifications 29
 
Currencies Trading Volume 30
 
U.S. Dollar Index 30
 
Volume and Open Interest 31
 
Where to Trade Currency Futures 33
 
FOREX Futures 33
 
Summary 33
 
Chapter 4 Regulation: Past, Present, and Future 35
 
Introduction 35
 
Regulation in the FOREX Market 35
 
Regulation Past 36
 
Regulation Present 39
 
Regulation Future 43
 
Summary 44
 
Part 2 Getting Started
 
Chapter 5 The Language of FOREX 47
 
Introduction 47
 
Currency Pairs 47
 
Major and Minor Currencies 48
 
Cross Currency 48
 
Exotic Currency 48
 
Base Currency 48
 
Quote Currency 49
 
Pips 49
 
Ticks 49
 
Margin 50
 
Leverage 51
 
Bid Price 52
 
Ask Price 52
 
Bid-Ask Spread 52
 
Quote Convention 52
 
Market Maker and ECN 53
 
Transaction Cost 53
 
Rollovers 54
 
Correlation 54
 
Summary 55
 
Chapter 6 FOREX by the Numbers 57
 
Introduction 57
 
Pips 58
 
Profit and Loss 59
 
Margin 60
 
Leverage 62
 
The Bid-Ask Spread 62
 
Profit Threshold 63
 
For Futures Traders 66
 
Summary 66
 
Chapter 7 A Guide to FOREX Trading Platforms 69
 
Introduction 69
 
Trading Platform Features 71
 
More Trading Platforms 79
 
Professional FX Platforms 80
 
Trading Platform Checklist 81
 
A Kid in the Candy Store 82
 
Summary 82
 
Chapter 8 Selecting a FOREX Broker 83
 
Introduction 83
 
Broker-Dealer Due Diligence 84
 
Demo Accounts 85
 
Market Maker or ECN? 86
 
Costs 87
 
Liquidity Providers 89
 
Customer Service 90
 
Trading Pair Palette 91
 
Financial Stability 91
 
Complaint and Error Resolution 92
 
Account Options 92
 
Games Brokers Play 93
 
Top Broker-Dealers 93
 
Popular Broker-Dealers 99
 
The Big Four Broker-Dealers 100
 
For the Professional and Non-U.S. Trader 101
 
Spread Betting 102
 
Fraud, S

Détails du produit

• Auteurs: Michael D Archer, Michael D. Archer, Michael Duane Archer, Archer Michael D.
• Edition: Wiley, John and Sons Ltd
• Langues: Anglais
• Format d'édition: Livre de poche
• Sortie: 15.06.2012
• EAN: 9781118251652
• ISBN: 978-1-118-25165-2
• Pages: 452
• Thèmes: The Getting Started In Series; Getting Started in; Getting Started In...; The Getting Started In Series
• Catégories: Livres de conseils > Droit, profession, finances > Argent, banque, bourse; Sciences sociales, droit, économie > Economie > Autres; Personal finance, Private Finanzplanung, Investment and securities, Finance & Investments, Finanz- u. Anlagewesen