Currency Trading for Dummies

For the money, this book is worth every cent. Prior to reading this book, I had only read one other book on currency trading. The first book I read was unfortunately a sales pitch for the author's retail software. After reading this book, I regained confidence in the idea that one could gain objective information from a beginners guide to FOREX. I have an undergraduate background in international business and economics and learned a tremendous deal about how the actual mechanics of the FOREX market work as opposed to the theory behind fundamental analysis, FED policy, interest rates, inflation, and the like. I highly recommend this book as a beginners guide to currency trading. There were many things that I read which whetted my appetite to learn more about the field. As far as my opinion goes based on further reading of trading and analysis of markets, I don't believe that this book will teach you how to become a profitable trader but it will definitely give you a solid foundation to build upon.

The authors provide a great overview of trading in the Forex market, and I would definitely recommend it to anyone new to the field (like me). It provides enough education to get you motivated to get started, and helps you decide what specific topics you'd like to research further. Read this book first before making any other purchase on the topic.

Overall, I thought this book gives a great overview on how and when the Interbank FX market operates, a basic overview of technical analysis, and some useful tips on practical matters of trading like how to choose a broker/platform and what to consider when setting up a trade. Having traded the Forex market for over 2 years now and having read a number of books specific to Forex trading, I think this book is the best book geared toward novice traders currently available. However, I felt this book could have done better in a few areas: it walks you through considerations to construct a trading plan but doesn't provide a detailed example of one (preferably the authors'). This book actually walks through a trade set up (shorting the USD/JPY) and details the things to consider, but it was picked seemingly at random (based on a double doji) and not from some back tested trading methodology. Also not covered in the book are tools to effectively back test strategies and what a sample trading journal should look like. But like I said at the beginning, this book is a lot better than most of the other FX trading books you find on retail book stores/sites--books that are filled with marketing fluff and little practical guidelines to actual trading. Currency Trading for Dummies actually has a lot of substance and value for the novice trader.

I thought this book would be typical nuts and bolts book.I was soooo wrong. This book is a book of strategy,fundamentals,mental game and a lot more. If you are just starting or a veteran purchase this book... It gives you those jewels that you hear and wonder," where that come from?". The indicator section is the best. So many traders are always trying out the new indicator. Truth be told they all are the same. Your overall package as a trader is what makes you profitable, not 50 moving averages crossing. I hope I helped someone to make a proper choice in a great overall book on Forex. Forex is the best market out here period, but the books and information available are lacking real substance. Do not let the title fool you. This book is written by owners of Forex brokerages. They hold nothing back. This book is for dummies and pros a like.

Covers the field of currency trading for a beginner very extensively. Take it together with "Technical Analysis for Dummies", and exercise on a few demo currency trading accounts for about three months. Then you can start trading on a real account like a real pro.