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jpennybags

Seeking a Book About Currency Markets

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I've traded the equity and futures markets successfully, and would like to consider adding currency trading to the mix. I'm looking for reference material that explains the currency markets in depth. The sort of material that would explain the how, why, and what of currencies, not trading strategies. I'll figure out how to trade it on my own.

 

Thanks.

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you might be best to start at the basics checking out videos and other such info from the brokers webinars. eg; http://www.interactivebrokers.com/en/?f=%2Fen%2Fgeneral%2Feducation%2FpriorWebinars.php

 

Most books I have seen are simply trading styles and are not going to give you much real info as to how it works.

I will ask a friend who worked at one of the banks for a while on their FX desk if he knows any more technical process as opposed to technical analysis books. (bump me if I forget about it)

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  jpennybags said:
I've traded the equity and futures markets successfully, and would like to consider adding currency trading to the mix. I'm looking for reference material that explains the currency markets in depth. The sort of material that would explain the how, why, and what of currencies, not trading strategies. I'll figure out how to trade it on my own.

 

Thanks.

 

Don't forget - you've always got currency futures and you already understand the technicalities of how the futures contracts work, rollover, order matching etc. Just a thought.

 

It's good to hear you're having success with what you've been doing so far.

 

BlueHorseshoe

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  Patuca said:
You might want to google currency trader magazine. They will send a free pdf copy of the magazine everytime a new issue comes out.

 

Just a thought???

 

They will send one and then another, and another, and another, and another, and another...

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  MightyMouse said:
They will send one and then another, and another, and another, and another, and another...
LOL true. they have been sending me that mag for years...rarely do i look at it if ever. never traded traded forex.

 

:rofl:

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  SIUYA said:
y

I will ask a friend who worked at one of the banks for a while on their FX desk if he knows any more technical process as opposed to technical analysis books.

 

Feedback from the friend....

"Great question ..... and ..... you know what? I actually do not know of any"

Most books are on simple technical analysis......

He said he learnt most of his stuff just by sitting on the desks and picking it up.....

 

He did recommend from what he had seen the successful traders do (this is someone who sat on the FX desks at a large bank) Make of it what you will as I am sure you have your own style :)........

 

  1. stay away from scalping (it can be done but its hard work and the PL swings when it moves 30-50 ticks really quickly against you are tough) instead look for the next 100-150 points, and be willing to wait for it. (basically swing trade)
     
  2. CNBC have a 1 hour program each week called 'Money in motion' - info is general in nature but broad and discusses the general setups and offers some insights for those not 100% in the loop.
  3. They also have the CNBC Explains video tutorials on the web.
     
  4. Finally, a twitter recommendation - a guy called 'forex gump' - uses 2-4 hr charts, targeting 100 + pips. (Neither of us have any affiliation - I have no idea who he is)

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Thanks to all for the replies. Special thanks to SIUYA for taking the time... appreciate it.

 

I found a book on Amazon that seems to be what I was looking for:

 

Foreign Exchange: A Practical Guide to the FX Markets (Wiley Finance): Tim Weithers: 9780471732037: Amazon.com: Books

 

Also found an online source for similar material. I don't like reading extensive material online, but for those who don't mind it's free:

 

Learning Center (UNIT A): Absolute Essentials

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