Product Description

This currency trading book provides readers with real, practical information on how to trade the foreign exchange market effectively. It begins by covering introductory information on the forex market, including basic trading mechanics and the benefits of forex trading, and then goes on to describe specific currency trading methods and skills in step-by-step detail. This includes highly practical information on technical and fundamental analysis, risk and money management, and powerful forex trading strategies. These strategies have proven extremely effective in helping traders play the forex game to win.

JAMES CHEN, CTA, CMT (Montville, NJ) is Chief Technical Strategist at FX Solutions, a leading foreign exchange broker. An expert on forex trading and technical analysis, he is also a registered Commodity Trading Advisor (CTA) and a Chartered Market Technician (CMT). Mr. Chen writes daily currency analysis, leads forex trading seminars, and has authored numerous articles on currency trading strategy and technical analysis for major financial publications. These include Forbes.com, Futures Magazine, Technical Analysis of Stocks and Commodities Magazine, and Stocks, Futures and Options (SFO) Magazine.

Product Details

• Amazon Sales Rank: #37771 in Books
• Published on: 2009-03-09
• Original language: English
• Number of items: 1
• Binding: Paperback
• 221 pages

Features

• ISBN13: 9780470390863
• Condition: NEW
• Notes: Brand New from Publisher. No Remainder Mark.

Review
"…is a concise, easily digested snapshot of the currency market. It is a solid introduction to a trading specialty and probably a better fit for investors already well versed in stocks or futures and looking for a new market opportunity. Chen's edition is a Forex 101, a helpful base that is likely to encourage investors to pursue further study." (SFO Magazine, June 2009)

"…has written this guide to trading in the foreign exchange (forex) market for both novices and experienced professionals. The author explains the fundamental mechanics of the forex markets before launching into the various strategies and insights that have been proven successful in the field." (Book News, May 2009)

"The book is very well suited to the novice trader. The primer on technical analysis offers a great review for CMT candidates. More experienced traders in stocks, bonds, or commodities will benefit from the book's comprehensive explanation of the mechanics in the market. (mta.org (market technician's association), April 28th, 2009)

"Chen's book is the perfect source of knowledge for those who haven't ever traded currencies. Clearly explained, Chen's easy to read style show that he knows what professional currency trading is, focusing on the important aspects that every trader should know. The book covers all important Forex trading related topics." (fxstreet.com, March 11, 2009)

Customer Reviews

Excellent book on currency trading
I have spent 20 years researching and trading stocks and bonds, and was interested in currency trading. I purchased a number of books on foreign exchange. I read this book first, Essentials of Foreign Exchange Trading, and I found it an excellent choice. It has also been a good companion to my experimentation and trading on one of the major FX trading websites.

It starts off with a good introduction to the principles of currency trading and includes a discussion of a wide range of trading approaches to help understand which best fit your personality and style. The chapters that dive in on technical analysis (using candlesticks, moving averages, fibonacci/pivot point, elliott wave) are especially good; it is obviously the author's specialty. That was good for me since my background is in fundamental analysis and the author's treatment of technical analysis was comprehensive and helpful. The sections on fundamental analyses were good too, although I went through them quickly given my familiarity. My primary focus was to "expand the toolbox" with technical analyses and this book served that goal. Also, importantly, the book is written in an entertaining and fluid style. It was easy to read and absorb.

Overall, I found the book excellent and recommend it.

Great read - definitely recommend it
I traded forex a couple of years ago and I've just gotten back into it recently. Got this book right when it came out because I've been following the author's daily currencies analysis and attended a few of the webinars he gives. From the title of the book I was thinking that it might be a bit basic for me since I've traded forex pretty extensively before. But it's turning out to be extremely helpful because it has a lot of really useful strategies and techniques. The book pretty much goes all the way from beginner to advanced and explains everything really thoroughly and clearly. I have two other books on forex trading that I bought in the past, but this one is by far the most complete and useful one. For me, chapter 5 on forex trading methods and strategies was one of the most comprehensive descriptions of trading strategies that I've seen. Also really liked the technical analysis chapter. Definitely recommend this book.

Very Helpful Guide to Trading Forex
I've been struggling with my Forex trading for more than a year now. I spent 100's of dollars on a bunch of Forex strategies online, but they never helped me become profitable. This book really helped me understand how I should go about trading this market. IMHO, the information in this book is worth so much more than any off-the-shelf, plug-and-play strategy that I ever bought. This book gives you an intelligent way to formulate your own strategies and really helps you understand how the Forex market works. I keep 5 reference books at my trading station for reference at all times. Besides Marcel Link's book on high-probability trading, the John Murphy book on technical analysis, Alexander Elder's Trading for a Living, and Van Tharp's book on trading systems, this book is the one I go to for all Forex-specific information.