Currency Trading For Dummies®

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