Currency Trading: How to Access and Trade the World’s Biggest Market is a comprehensive guide to trading on the foreign currency exchange market, the largest financial market in the world. This market is home to over $1 trillion in trading every single day, so it’s only natural that traders and hopeful investors all over the world fall all over themselves to get a piece of this potentially highly profitable marketplace. Right alongside all of that potential profit, however, lies tremendous risk of loss, requiring those who participate to educate themselves thoroughly if they hope to be in the group of those who profit rather than those who lose money.
This book is one of the very best on the market for explaining the foreign currency exchange market and helping readers to learn the key information they must have to be successful trading on this volatile market. For this reason and many others, Currency Trading: How to Access and Trade the World’s Biggest Market is highly recommended reading.
Why is this book such a valuable resource?
You can find many, many books and manuals available that discuss the details and strategies of successful trading on the foreign currency exchange market, so why does this one stand out from the rest? There are a number of reasons, including:
- Clarity of writing – The author does an exceptional job of writing and explaining even the most complex concepts in a way that is clear and easy to understand. Specific terms and abbreviations unique to the foreign currency exchange market are explained fully and the reader can easily refer back to those explanations and definitions at any point. Overall, Currency Trading: How to Access and Trade the World’s Biggest Market is one of the best resources available in terms of clear writing that is accessible to readers both new to the foreign currency exchange market and those with existing experience in this market.
- Comprehensive information – The information presented in Currency Trading: How to Access and Trade the World’s Biggest Market is comprehensive and complete without being too broad or shallow. It does an excellent job of presenting each topic with enough detail to be complete, allowing the reader to get a full picture of the concept being discussed.
- Real world examples – Many books on the foreign currency exchange market are heavy on charts, graphs, calculations, and the like. Currency Trading: How to Access and Trade the World’s Biggest Market certainly includes some wonderful illustrations, but it also includes some excellent real world examples and case studies to help explain key concepts and ideas. This combination of practical information and mathematical information helps to make the book very accessible to the reader.
- Expertise – The author of this book, Philip Gotthelf, is a leading expert in trading on the foreign currency exchange market. He is an internationally recognised professional whose trading system, forecasting, and advising activities are among the most successful and well liked anywhere. Currency Trading: How to Access and Trade the World’s Biggest Market is filled with Gotthelf’s knowledge and expertise, giving the reader access to one of the best minds in foreign currency exchange market trading.
Now that you have a taste of why Currency Trading: How to Access and Trade the World’s Biggest Market is so valuable, let’s move on to take a look at the specific subjects and topics discussed in the book.
Important topics presented in the book
There are any number of topics the reader should come to understand about the foreign currency exchange market, so the sign of a really good resource is one that presents the most important topics in a way that is logical and easy to understand. Currency Trading: How to Access and Trade the World’s Biggest Market does that very effectively, providing information on the following vital subjects:
- Market basics – The foreign currency exchange market is a complicated and complex place, which can be very confusing to novice traders. This book provides a thorough discussion of the basic information everyone must know about the foreign currency exchange market, including their structure, their processes, and how aspects such as options, forwards, futures, and the like really work.
- Factors influencing the market – Every financial market, whether the stock market, commodities market, or the like, is affected by various factors ranging from economic to interest rates to cultural to confidence and beyond. The foreign currency exchange market is no different, and in many ways is even more susceptible to fluctuation due to outside factors. This book discusses such factors in depth, offering the reader a solid background and understanding in this important subject.
- Forecasting and analysis – The ability to accurately analyse the foreign currency exchange market and forecast likely behaviour is central to successful and profitable trading. This book provides excellent explanation and guidance on the best ways to forecast and analyse the market, emphasising fundamental analysis and technical analysis as primary tools for this purpose.
- Trading strategies – Just as with other financial markets, there are plenty of trading strategies to consider for use in the foreign currency exchange market. This book discusses a number of potential strategies the reader should consider, ranging from the most basic to some of the most advanced currently in use. It also talks about how to decide which strategy to use and which situations are most suitable for each strategy.
- Avoiding scams – With so much money at stake in such a highly volatile market, there are of course many pitfalls and outright scams that readers may encounter related to the foreign currency exchange market. This book discusses how to spot a scam, how to avoid being fooled by someone or something that appears like a good opportunity but actually is not, and how to spot and take advantage of situations where perfectly legal manipulations are occurring within the currency markets.
One of the major points emphasised throughout the book and by the selection of subjects is that the foreign currency exchange markets are constantly in a state of change. They are so fluid, especially in relation to the effects of new technologies that make trading easier and more convenient, that any book written about the market will be out of date in some form by the time it is actually published.
To combat this real world truth, Currency Trading: How to Access and Trade the World’s Biggest Market strives to present the kind of information and guidance that is fundamental to the market rather than specific to any current market condition. This allows the reader to gain an overall understanding of the principles behind the foreign currency exchange market and use that understanding to formulate their own decisions about when to trade, what to trade, and which strategy is best for changing conditions.
Final thoughts on the book
In comparison to the many other books available about the foreign currency exchange market, there is no doubt that Currency Trading: How to Access and Trade the World’s Biggest Market is among the very best. It is comprehensive, well written, easy to understand, and filled with the kind of practical information and examples that every trader needs to be successful. With this said, however, the author very smartly makes the point that the foreign currency exchange market changes so rapidly that every trader must take their knowledge and expertise and adapt their trading strategies to current (and projected future) market conditions. There is no such thing as a book that has all the answers, but this book does fill the need of giving the reader important tools necessary to make good, solid decisions on their own.If you are interested in learning more about the foreign currency exchange market or are already trading in this market, Currency Trading: How to Access and Trade the World’s Biggest Market would be an excellent addition to your resource library.