The Complete Idiot's Guide to Foreign Currency Trading [With CDROM]

by Lita Epstein and Gary Tilkin

Book Overview

a roadmap for success; the strategies to use and pitfalls to avoid." This description may be from another edition of this product.

• Format: Paperback
• Language: English
• ISBN: 1592575889
• ISBN13: 9781592575886
• Release Date: March 2007
• Publisher: Alpha Books
• Length: 237 Pages
• Weight: 0.75 lbs.
• Dimensions: 0.6" x 6.1" x 9.0"

Customer Reviews

A Book For Success

Excellent to undestand FOREX investments. The GFT plattform to open your account is also excellent. Highly recommended.

Don't Take the FOREX, You'll Kill Yourself!

Kick me for being a frustrated capitalist. I was hoping to find the one true system to turn $1,000 into $1,000,000 [but I'd settle for $100,00 just as a current U.S. senator was able to do in her past; but first I'd have to figure a way to score $1,000]. Well, and I do mean well, the authors of this neat book make it abundantly clear that I am in fact an Idiot and should never ever get out of the boat and wade into FOREX waters without them (or some other suitable professional guide). Page 184 screams in quite bold print, " FOREX Trading is Risky. Don't Believe Anyone Who Says It's Not!" This is one of the least costly FOREX trading books out there. Since you can't possibly trade money without professional help, don't bother wasting your money on a more expensive book that is just going to tell you the same thing. All that said, the price of this book is well worth it to: 1) keep you from losing a ton of money out of ignorance, and 2) inform you how supply/demand markets work (read chapter 5 in the book store or library if you want to do yourself a favor on the cheap). Final verdict: recommended for the curious. Hint: read my other two financial book reviews that follow this one if you care to know know why this country is now on the implosion short list.

What's Inside

The Complete Idiot's Guide to Foreign Currency gives you an overview of Forex and who trades it. You'll find a history of how Forex started, an overview of the key terms you need to know and how to find the most current information about currency on the internet and in other print publications as well. You'll find an entire chapter on why currency changes value including discussions about economics and business cycles, political developments, changes in interest rates, international stock news, inflationary expectations, international investment patterns and policies adopted by Governments and Central Banks. We also discuss how you as a trader can take advantage of these changes. Next we cover the eight key currencies you can consider trading as a new trader and then talk about the risker emerging country currencies to watch after you have more experience and decide you want to take on more risk. After that there are four chapters on trading basics you need to know - trading platforms, hardware and software; basics of technical analysis (don't expect to learn how to do technical analysis with this book - it's just an intro - that is a book in itself), fundamental analysis, and the risks you face as a Forex trader. Fianlly we look at the tools you can use for trading including how to deveop your money strategies and how to place orders. We do use co-author Gary Tilkin's software, which is available on the CD Rom included with the book, with sample trades but recommend others that can be accessed on the internet as well. Gary Tilkin is the founder and CEO of Global Forex Trading, which is an online foreign exchange dealing company. He is an internationally renowned expert in currency trading and the futures markets with over 30 years of trading experience. Other chapters discuss using mini accounts, managed Forex and trading systems, and how to avoid money fraud.

Insightful looking into global markets

Being new to the foreign currency markets I found this book to be very good at answering the questions that I didn't know or was too embarassed to ask anyone. Clearly written, I think it is a must read for anyone that is thinking about trading currencies, or anyone who has traded currencies but may still have questions.