"For many investors, an intense, 24-hour-a-day, $1.5 trillion roller-coaster of a market spells "danger"; for readers of Forex Revolution, the word is "opportunity."
–Michael J. Panzner, vice president, Rabo Securities USA, Inc., and author of The New Laws of the Stock Market Jungle
"The author possesses an uncommon ability to describe a difficult and rapidly changing marketplace as if seen through a beginner's eyes. A most useful book for anyone that might not have been paying attention these past five years as the market reinvented itself."
–Brentin C. Elam, director, Northcoast Asset Management, LLC
Foreign currency exchange–"Forex"–is today's #1 new investment opportunity. Revolutions in technology, regulation, and globalization have made Forex trading accessible to every active investor. Only one thing has been missing: An objective, clear "user's guide" to Forex trading. Now it's here–and it's in your hands.
Simply and clearly, Forex Revolution reveals everything you need to know to trade Forex hands-on–from fundamental and technical trading strategies to the unyielding discipline that's essential to success.
In this book, Peter Rosenstreich brings together insider techniques from all over the industry: Traders, banks, Forex firms, even the National Futures Association. You'll find expert guidance on everything from handling 24/7 markets to profiting from the emergence of China.
Unlike other books, Forex Revolution doesn't require you to subscribe to costly services or purchase expensive tools. Whether you're an individual investor or a money manager new to Forex, this book gives you all you need: Facts, techniques, resources and–above all–the insider's edge.
Why Forex has become your #1 profit opportunity
How the currency markets became indispensable to the active investor
Meet the players, markets, tools, portals, and platforms
Everything you should know before you get started
Choose the right FX investments
Understand currency futures, options, swaps, and more
Master both fundamental and technical trading strategies
and discover why you need to know both
Gut check: What it takes to win in the Forex markets
Develop the discipline you need to succeed
Foreign Exchange Trading: Today's #1 Opportunity for Explosive Profits!
The practical, hands-on Forex trading guide for individual investors
No costly subscriptions or expensive tools needed
Delivers unbiased, up-to-the-minute techniques you can start profiting from today
Covers everything from trading rules to fundamental and technical strategies
Realistically assesses risks and pitfalls–and shows how to avoid or mitigate them
Forex Isn't Just the World's Biggest Market–It's Your #1 Profit Opportunity!
Every day, more than $1.5 trillion in currency trades are executed. That dwarfs the daily volume of the NYSE, NASDAQ, FTSE, DAX, and Tokyo Nikkei–combined! Today's growing currency volatility has made Forex the place to earn huge profits. Think Forex is just for secretive financiers and central bankers? Not any more! The rules have changed, and this book shows you exactly how to get in on the action.
No other book offers as much unbiased, practical, how-to guidance for trading from Forex. Peter Rosenstreich doesn't just present his own techniques–he reveals never-before-published tips and techniques from traders throughout the industry. Above all, Mr. Rosenstreich tells you the whole truth: How currency markets work, how to trade, what the risks are, what to do about them...and what it really takes to win.
© Copyright Pearson Education. All rights reserved.
1. The Truly Modern Market.
A Market for the 21st Century
Opportunity Is Knocking
Everybody’s Talking About It
2. The Currency of Trading in Everyday Life.
A Fact of Life
Keeping Up with the Rates
The Sun Never Sets on Forex
Noodles in the Morning
Laos for Lunch
Odessa at Dusk
Back in a 9-to-5 Market
3. The History of Forex (and Why You Should Care).
The Beautiful Market
Lessons of History
The Roots of Modern Currency
The Clash Between Governments and Markets
Trends That Rocked the Forex World
The Rise and Fall of the Modern Gold Standard
The Rise of the Euro
The Internet Trade Revolution: Banks Hated It, Speculators Loved It, and the Market Demanded It
Seeing the World Through Forex
4. The Basics of Foreign Exchange.
Basic Tools of Training
Order Cancels Other
Interest Rate Differentials, or Rollover Charge
Graphic: Calculations for the Spot Market
CFTC and NFA
Forex Dealer Members
Futures Commission Merchants
Commodity Trading Advisers
5. Forex Trading Vehicles.
Forwards and Futures
Derivatives and the Forex Market
The Interbank Market
6. Tools and Strategies to Get Started.
Gut Check: What It Takes to Be a Forex Investor
What Are My Investment Goals, and Are They Realistic?
What Is My Capacity for Risk?
Before You Trade
Doing a Test Run
Strategy: Creating an Approach Model
7. Forex from the Inside.
8. Inside a Forex Platform.
Searching for the Right Platform
Doing Your Homework
Hub and Spoke Trading
Request for Quote (RFQ)
Click and Deal
Things to Look Out For
Getting the Best Price
My Trading Room
Forex Retail Platforms
The Firm Promises a Free Lunch
The Trader Uses Terminology You Don’t Fully - Understand
The Firm Claims To Trade in the “Interbank Market”
The Firm is Using the Hard Sell via the Internet
The Firm is Vague and Little Information is Available
9. Trading Inside the 24-Hour Storm.
Working Around the Clock
Defining Your Trading Strategy
Pigs Get Slaughtered
Overleveraging and Overtrading
Watch the Markets
Don’t Walk Away
Review the Market
Just Because You’re Not Paranoid Doesn’t Mean They Aren’t Out to Get You
Flatline Your Emotions
Trade with Your Personality
10. What Moves the Markets: Basic Fundamental and Technical Trading Strategies.
Watch Your Fundamentals
Old Versus Fresh News
The U.S. Dollar
The British Pound
The Swiss Franc
The U.S. Federal Reserve
The European Central Bank
The Bank of England
The Bank of Japan
The International Monetary Fund
Private Financial Institutions
Monetary Policy and Interest Rates
Gross Domestic Product
The Beige Book
Government Spending and Taxes
Political and Social Environment
Currency Board or Peg
Determing the Trend
Support and Resistance
Elliot Wave Theory
Moving Average Convergence/Divergence (MACD)
Relative Strength Index (RSI)
Bollinger Bands (BB)
Parabolic Stop and Reversal (SAR)
Average Directional Index (ADX)
Starter Technical Model
Technical or Fundamental?
11. Black Swans and Rogue Traders.
The Inherent Instability in the Forex Market
The Tequila Crisis
The Asian Crisis
Breaking the Bank of England
Scams and Rogue Traders
Russia Devalues the Ruble
12. Trends and the Yuan.
Forex Will Not Just Get Bigger; It Will Get More Respect
Globalization and the War on Terror
The Chinese Dragon and the Indian Tiger
The Euro: Can It Hold?
The Growth of Free-Trade Blocks
The U.S. Dollar