When it comes to the financial market trading, what comes to mind is the stocks and commodities. When it comes to currency trading, the guaranteed way to make money is through betting on the value of the currency.
However, for it to be fulfilling you have to do it in pairs because the value of the currency is often measured in relation to other currencies. However, you can’t be a successful trader if you don’t fully understand the fundamentals of trading. In this case, currency trading is very important.
You need to fully understand the dynamics of demand and supply where commodities are involved. If you are considering a stock, you also need to factor in the assets and liabilities. You need to compare all the factors that can affect the value of the currency when trading.
How can this book help you?
Brian Dolan address all this in Currency trading for dummies. He covers everything from the basics of forex trading to the crucial macro-economic fundamentals being used in play. He carefully lays the foundation for both beginners and pros, he then gets into explaining the trading strategies and technical analysis.
According to Brian, technical analysis is the best skill to hone. This is because it allows you the ability to easily identify signals whether it is support, resistance, or anything that may affect the trade. It allows you to develop a sound and reasonable trading plan.
He tells you how to easily develop and execute your trading plans. You will learn how to understand the scope, size, and players in the trade. Brian takes you through the critical economic drives that tend to influence the currency value. You will be able to interpret events and data in the trade like a professional.
This book will allow you to discover the different trading styles and types which will allow you to make a strong strategy and a concrete game plan that guides you before initiating any trade. He covers the currency trading tools and conventions.
Brian will give you an insider look at the primary tactics of successful currency traders. He also explains why it is crucial to be prepared and organized when trading. He skillfully guides on the trading pitfalls you should avoid and some of the risk management rules you need to live by.
He also takes initiative and explains important factors like interest rate, inflation, that can be understood even by a person with no economics background whatsoever. He also covers implications partially, of the economic data like consumer confidence, labor statistics, production figures, GDP, and trade balance that are released by all governments.
Currency Trading for Dummies is a book that is valuable to analysts, investors, and business economics students. After reading it, you will realize that there will be no room for dummy trading anymore. It is perfect for those who are just joining the world of foreign exchange or those who already have experience in trading and are looking to diversify. This book is guaranteed to make you a successful trader. Be it with IG Markets, or any other online broker.
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK