Forex Trading: The Basics Explained in Simple Terms: Even if you've never traded before

Your plain-English guide to currency trading

Currency Trading For Dummies is a hands-on, user-friendly guide that explains how the foreign exchange (ForEx) market works and how you can become a part of it. Currency trading has many benefits, but it also has fast-changing financial-trading avenues. ForEx markets are always moving. So how do you keep up? With this new edition of Currency Trading For Dummies, you'll get the expert guidance you've come to know and expect from the trusted For Dummies brand—now updated with the latest information on the topic.

Inside, you'll find an easy-to-follow introduction to the global/ForEx market that explains its size, scope, and players; a look at the major economic drivers that influence currency values; and the lowdown on how to interpret data and events like a pro. Plus, you'll discover different types of trading styles and make a concrete strategy and game plan before you act on anything.

Covers currency trading conventions and tools
Provides an insider's look at key characteristics of successful currency traders
Explains why it's important to be organized and prepared
Offers guidance on trading pitfalls to avoid and risk management rules to live by
Whether you're just getting started out in the foreign exchange market or an experienced trader looking to diversify your portfolio, Currency Trading For Dummies sets you up for trading success.

From the Inside Flap
Understand the foreign exchange market and benefit from it!

The forex market is fast, exciting, and potentially lucrative — if you know what you’re doing. This hands-on, user-friendly guide shows you how the foreign exchange market works, who the players are, what influences currency values, how to interpret data and events, and what you need to know to develop a winning strategy. Read carefully before investing!

Understand how it works — if you’re new to currency trading, here’s a plain-English explanation of how the forex market works, what moves it, and what newcomers need to know
Things to think about — find out how your investment objectives, experience level, and risk appetite must be considered
Tools of the trade — see how to find sources of data and market intelligence, take advantage of the latest technology, and use technical analysis to spot trade opportunities
Read the market — learn to interpret economic data and official statements and gauge market psychology, sentiment, and positioning
Make a game plan — get expert guidance on developing a structured strategy and a disciplined approach to currency trading
Open the book and find:

Differences between the forex market and the stock market
Pros and cons of currency trading
Essential secrets of success
Best ways to manage your exposure
The latest SEC rules and tax laws
Tips on doing research
Risk management rules to live by
Key characteristics of successful currency traders