Getting Started in Currency Trading: Winning in Today's Hottest Marketplace
An accessible introduction to the burgeoning foreign exchange trading marketGETTING STARTED IN CURRENCY TRADINGThe Foreign Exchange (FOREX) market is the largest financial market in the world, with a volume of over $1.5 trillion a day—more than three times the total amount of the stocks and futures markets combined. Up until 1995, FOREX trading was only available to banks and large multinational corporations, but today, thanks to the proliferation of the computer and a new era of Internet-based communication technologies, this highly profitable market is open to everyone. This huge international market offers unmatched potential for profitable trading in any market condition or any stage of the business cycle. All you need is a computer, a high-speed Internet connection, and the information contained within this book.Getting Started in Currency Trading is both an introduction and reference guide for beginning and intermediate FOREX traders. This information-packed resource opens with a clear description of the FOREX market and a section of FOREX terms clearly defined with examples. After this brief overview, Getting Started in Currency Trading moves on to discuss:The mechanics of FOREX trading—order types as well as order execution and confirmationHow fundamental and technical analysis can help you create successful trading strategiesHow to find a reliable FOREX broker or open an online trading accountThe psychology of trading the FOREX marketAdvance trading topics, such as rollovers, hedging, and arbitrageFilled with in-depth insight, practical advice, and numerous screen shots that illustrate what to expect inside a dealer's trading platform, Getting Started in Currency Trading will guide you through the complexities of FOREX trading and put you on the road to success.Michael duane Archer has been an active commodity futures and FOREX trader for over thirty years. Mike has also worked in various registered advisory capacities, notably as a CTA (Commodity Trading Advisor) and as an Investment Advisor. He is currently CEO of CommTools, Inc., a corporation focusing on nonlinear solutions to trend forecasting, with a special emphasis on cellular automata models.