Kathleen Brooks & Brian Dolan 
Currency Trading For Dummies 

Your plain-English guide to currency trading

Currency Trading For Dummies is a hands-on, user-friendly
guide that explains how the foreign exchange (For Ex) 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.
For Ex 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/For Ex 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.

Table of Content

Introduction 1

Part I: Getting Started with Currency Trading 5

Chapter 1: Currency Trading 101 7

Chapter 2: What Is the Forex Market? 17

Chapter 3: Who Trades Currencies? Meet the Players 33

Chapter 4: The Mechanics of Currency Trading 47

Part II: Driving Forces behind Currencies 71

Chapter 5: Looking at the Big Picture 73

Chapter 6: Understanding and Applying

Market News and Information 99

Chapter 7: Getting Down and Dirty with Fundamental Data 115

Chapter 8: Getting to Know the Major Currency Pairs 139

Chapter 9: Minor Currency Pairs and Cross-Currency Trading 163

Part III: Developing a Trading Plan 179

Chapter 10: Training and Preparing for Battle 181

Chapter 11: Cutting the Fog with Technical Analysis 201

Chapter 12: Identifying Trade Opportunities 229

Chapter 13: Risk-Management Considerations 249

Part IV: Executing a Trading Plan 267

Chapter 14: Pulling the Trigger 269

Chapter 15: Managing the Trade 283

Chapter 16: Closing the Position and Evaluating Your Results 295

Part V: The Part of Tens 305

Chapter 17: Ten Habits of Successful Currency Traders 307

Chapter 18: Ten Rules of Risk Management 313

Chapter 19: Ten Great Resources 317

Appendix: Trading Strategies 321

Index 343

About the author

Kathleen Brooks is research director at FOREX.com. She produces research on G10 and emerging-market currencies, providing her clients with actionable trading ideas.

Brian Dolan has more than 20 years of experience in the currency market and is a frequent commentator for major news media.