Forex trading strategies books

Forex can be intimidating even to seasoned hands-on investors. Thankfully, there are lots of books on currency trading, dealing with themes as diverse as elementary overviews and really advanced fundamental and technical analyses. A Forex trading strategies book completes your trading system.

Currency trading for Dummies, by Brian Dolan

Currency trading for Dummies is certain to offer value to starters. It offers clear, easy-to-read instructions on currency trading and descriptions. Even seasoned hands will be benefitted, the book being a refresher of basics as well. Both the co-writers — the other one being Kathleen Brooks, have held senior positions at Forex.com.

The foundation having been laid, the Forex trading strategies book explores trading strategies and technical analysis. Per the author, the latter merits honing since the ability to identify signals, from resistance to support and all else in between, goes away in the development of a prudent trading plan. Then you are instructed on the development and execution of trading plans. the last sections provide tips for successful trading, flags trading mistakes, and there’s a lively discussion of risk management plans.

Seasoned forex traders will appreciate the in-depth treatment of the structure and functioning of derivatives markets. The Forex trading strategies book lucidly presents concepts concerned with futures and options. You are served with regard not only to currency futures but also for stock and commodity derivatives.

The book also has a good introduction to the theory of technical analysis. In a step-by-step fashion, the Forex trading strategies book covers diverse trading patterns and trends, uses, and features of technical charts. Some information is vital for any beginner forex trader.

Seasoned traders may refresh themselves on the charts and indicators they seldom use — but perhaps ought to be using more.

Day Trading and Swing Trading the currency market, by Kathy Lien

Kathy Lien is a famous analyst, Managing Director of BK Asset Management. She is a familiar face to viewers of Reuters, Bloomberg, and CNBC programs.

Lien’s book uses a two-pronged approach that brings together theory and practical learning with balanced insight into the fundamental and technical aspects of regular profit generation. Lien leads readers through fundamentals like long and short-term impacting currency pairs. She also covers the technical analysis that professional forex traders use on a daily basis. Lofty promises are complemented by assured delivery.

Lien’s book provides both an incisive overview of the forex market, and a set of enduring trading strategies. Given the tendency of currencies to trend, the standard Bollinger Bands do not perform at overbought and oversold levels. The author adds another set of bands, one standard deviation away from the moving average.

Using the bands to choose tops and bottoms, for a long trade Lien has six rules. Another novel suggestion is the use of one and three-month option volatilities, enabling the timing of forex spot movement.

Lien’s book offers clearly written, valuable information that overlaps with the currency markets. That describes close to every market. Commodities and bonds are apparently linked to currencies. However, equity markets are also affected by currency movement.

Earnings reports adversely affected by currency headwinds underscore the need of traders to aim for a fuller understanding of currency markets. Lien’s book is a transparent attempt in that direction.

How to make a living trading forex exchange, by Courtney Smith

Courtney Smith offers a solid and thorough approach to becoming a profitable forex broker. While nobody needs to buy stocks, today we must, due to the interconnectedness of global trade, have some direct/indirect dealings with the world of forex. It mystifies trades no end that how us it that 90% of them are fated to mediocrity in the forex field.

Smith tries to bring to all traders a level playing field. Chairman of the Investment Mentoring Institute, the author has had his career built around building up investors. He is, naturally, a recognizable face across a lot of financial TV channels.

First of all, Smith explains all the elementary details you need to get started in forex trading. Subsequently, he introduces the profitable techniques that will aid you in making money in forex, presenting diverse methods to be used over different time horizons. The latter range from those that examine the market from the standpoint of days and weeks to those holding positions for less than one day. For example, Smith has described a system that observes the market from three diverse time standpoints. There’s no entry into the market unless all three standpoints are demanding one.

Smith’s Forex trading strategies book also describes a new way of trade filtration that removes close to half of all losing transactions. Furthermore, he explains how you can avoid the common traps that drain money from your account, utilizing his method for the identification of short-term turning points.

His method also identifies major turning points. Smith ends by showing the trader the manner in which all techniques in the book come together to form a coordinating program for creating profits.

The author continually stresses the two most vital aspects of trading — risk management and trader psychology. The Forex trading strategies book demonstrates the manner in which you can take risk management one step further, using it as an offensive weapon for profit enhancement.

The trader’s own psychology is the biggest possible obstacle to trading success. The book underlines this fact, with suggested solutions. You can really learn to be financially free with this book.

Conclusion

A Forex trading strategies book prepares you for a focussed approach to trading. You get to incorporate lots of elements into your trading plan. Forex trading is rich and diverse, at levels both elementary and advanced.

There are fundamental and technical analyses along with the tools and techniques that practically implement trading strategies. We cannot deny that any good Forex trading strategies book can translate into many advantages for you on the trading floor. InvestBy has lots of educational and research resources, augmenting perfectly the wisdom of the best Forex trading strategies book.

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