Currency trading, commonly known as forex trading, is the buying and selling of different currencies in the foreign exchange market. With a daily trading volume of over $5 trillion, the forex market is the largest financial market in the world. It is an attractive market for traders due to its high liquidity, low transaction costs, and 24-hour trading availability. However, currency trading can be highly volatile and risky, making it necessary for traders to have a solid understanding of the market and trading strategies. Wiley Trading’s book, 17 Proven Currency Trading Strategies, and its accompanying website provide traders with the necessary tools and knowledge to profit in the forex market.
Written by Mario Singh, a well-known forex expert, 17 Proven Currency Trading Strategies is a comprehensive guide to forex trading. The book covers a wide range of topics, from the basics of forex trading to advanced trading strategies. It is designed to be practical and accessible, making it suitable for both novice and experienced traders.
The book is divided into three parts. The first part covers the basics of forex trading, including the history of the forex market, how it operates, and the different players in the market. It also covers the fundamentals of currency trading, such as currency pairs, pips, and spreads. This section is essential for novice traders who are new to the forex market.
The second part of the book covers technical analysis, which is the study of past price movements to predict future price movements. It covers a range of technical indicators, such as moving averages, Bollinger Bands, and Fibonacci retracements. It also covers chart patterns, such as head and shoulders, double tops, and triangles. Technical analysis is an essential tool for any trader, and this section provides traders with a solid foundation in technical analysis.
The third part of the book covers advanced trading strategies. It includes 17 proven currency trading strategies, each with a detailed explanation, chart examples, and step-by-step instructions. The strategies cover a range of trading styles, from swing trading to position trading. They also cover a range of currency pairs, including major, minor, and exotic pairs.
The accompanying website provides traders with additional resources, including free webinars, trading tools, and a forum. The webinars cover a range of topics, from market analysis to trading psychology. The trading tools include a currency strength meter, a pivot point calculator, and a position size calculator. The forum allows traders to connect with other traders, share trading ideas, and ask for advice.
One of the main strengths of 17 Proven Currency Trading Strategies is its practical approach. The book and website provide traders with the necessary tools and knowledge to make informed trading decisions. The strategies are easy to understand and implement, making them suitable for traders of all levels. The book and website also emphasize the importance of risk management, which is essential for any trader.
In conclusion, Wiley Trading’s book, 17 Proven Currency Trading Strategies, and its accompanying website provide traders with a comprehensive guide to forex trading. The book covers the basics of forex trading, technical analysis, and advanced trading strategies. The accompanying website provides traders with additional resources, including free webinars, trading tools, and a forum. The book and website are practical and accessible, making them suitable for traders of all levels. The emphasis on risk management is also a significant strength of the book and website. Overall, 17 Proven Currency Trading Strategies is an excellent resource for anyone looking to profit in the forex market.
