Currency Trading For Dummies, 2nd Edition

Your plain-English guide to currency trading

Forex markets can be one of the fastest and most volatile financial markets to trade. Money can be lost or made in a matter of seconds, and forex markets are always moving. So how do you keep up? This hands-on, friendly guide shows you how the forex market really works, what moves it, and how you can actively trade in it — without losing your head!

• All the world's a stage — get an easy-to-follow introduction to the global forex market and understand its size, scope, and players

• Show me the money — take a look at the major fundamental and economic drivers that influence currency values and get the know-how to interpret data and events like a pro

• Prepare for battle — discover different types of trading styles and make a concrete strategy and game plan before you act on anything

• Pull the trigger — establish a position in the market, manage the trade while it's open, and close out on the most advantageous terms

Open the book and find:

• Currency trading conventions and tools

• Key characteristics of successful traders

• Trading pitfalls to avoid and risk management rules to live by

• How major currencies typically trade

• Why it's important to be organized and prepared

• The 411 on buying and selling simultaneously

• Tips for understanding rollovers and interest rates

Learn to:

• Grasp currency quotes

• Capitalize on the foreign exchange market

• Manage risk and reward

• Use the forces that drive currency movements

• Identify key traits of individual currency pairs