Book Review Currency Trading for Dummies – 2nd Edition by Brian Dolan

 

Currency Trading For Dummies - 2nd edition

Currency Trading For Dummies – 2nd edition

Book Review Currency Trading for Dummies – 2nd Edition by Brian Dolan, who has worked for more than 20 years in the forex market as a currency trader and analyst. As the Chief Currency Strategist at FOREX.com, Brian oversees fundamental and technical analysis and is a frequent resource for the financial media on currency developments. An earlier edition of this book was my first introduction to forex. I had read it before I had attended any trading seminars and before I had read anything else about the subject. It served me very well indeed.

I was very lucky to have started trading in September 2010 when the market moved the GBPUSD price in only one direction; it happened to be upwards, for several months. I made money quickly and soon began to worry that I was short of knowledge and that in time this failure was going to cost me a lot of money. My decision to purchase this particular book was based on both its style and its content. It seemed to be an easy read, something that I could dip in and out of as needed and yet the content still seemed to be sufficiently detailed to give me what I needed at the time. Both of these early thoughts proved correct.

Today, I still trade with a copy of Currency Trading for Dummies close to hand when I am trading.

The entire contents list is reproduced below and this gives a much greater idea of its coverage than a couple of paragraphs from me can explain.

The book has 360 pages with additional material available on line to support the contents. It is written in such a way that it can be a “straight read” or a reference tool. As a straight read does well regarding getting readers to understand sections of knowledge before seeing the sections brought together as a whole. I know from my writing and presenting that is a major achievement!

Introduction

Part I: Trading the World’s Largest Financial Market

Chapter 1: Currency Trading 101

Chapter 2: What Is the Forex Market?

Chapter 3: Who Trades Currencies? Meet the Players

Chapter 4: The Mechanics of Currency Trading

Part II: Driving Forces Behind Currencies

Chapter 5: Looking at the Big Picture

Chapter 6: Understanding and Applying Market News and Information

Chapter 7: Getting Down and Dirty with Fundamental Data

Chapter 8: Getting to Know the Major Currency Pairs

Chapter 9: Minor Currency Pairs and Cross-Currency Trading

Part III: Developing a Trading Plan

Chapter 10: Training and Preparing for Battle

Chapter 11: Cutting the Fog with Technical Analysis

Chapter 12: Identifying Trade Opportunities

Chapter 13: Risk-Management Considerations

Part IV: Executing a Plan

Chapter 14: Pulling the Trigger

Chapter 15: Managing the Trade

Chapter 16: Closing the Position and Evaluating Your Results

Part V: The Part of Tens

Chapter 17: Ten Habits of Successful Currency Traders

Chapter 18: Ten Beginner Trading Mistakes

Chapter 19: Ten Rules of Risk Management

Chapter 20: Ten Great Resources

Index

ISBN: 978-1-118-01851-4   Paperback Published July 2011

List Price $24.99 (US) £16.99 (UK) €20 (Europe)