Day Trading the Currency Market
(Sprache: Englisch)
Written by Kathy Lien the chief strategist from the number one online currency broker in the world Day Trading the Currency Market reveals a variety of technical and fundamental profit-making strategies for trading the currency market. Lien describes...
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Written by Kathy Lien the chief strategist from the number one online currency broker in the world Day Trading the Currency Market reveals a variety of technical and fundamental profit-making strategies for trading the currency market. Lien describes everything from time-tested technical and fundamental strategies that individual traders can use to compete with bank traders to a host of more fundamentally oriented strategies drawn from the author's own experience with the somewhat secretive multi-billion dollar interbank currency market involving intermarket relationships, interest rate differentials, option volatility, news events, and central bank intervention.
The currency/foreign exchange (FX) market is by far the largest financial market in the world, with trading volumes surpassing $1.9 trillion a day. Although primarily dominated by a worldwide network of interbank traders, a new era of Internet-based communication technologies has recently allowed individual investors to gain direct access to this popular-and profitable-market.
Written by Kathy Lien-chief strategist for the number one online currency broker in the world-Day Trading the Currency Market reveals a variety of technical and fundamental profit-making strategies for trading the currency/FX market, and provides a more detailed look at how this market actually works.
Designed for both the advanced and novice trader, Day Trading the Currency Market contains something for everyone. It touches on the major FX market basics or currency characteristics that all traders-particularly day traders-need to know, and contains actionable information on which you can base some of your trading strategies. This comprehensive guide opens with a straightforward discussion of general issues, such as the emergence of the foreign exchange market, who the major players are, and significant historical milestones, but quickly delves into more detailed topics in the following sections:
* What moves the currency market-factors that impact both long- and short-term price movements
* What are the best times to trade for individual currency pairs-through an outline of major currency pair trading activity (in different time zones), you'll discover when pairs are most attractive
* Trade parameters for different market conditions-teaches you how to first profile a trading environment and then know which indicators to use for that trading environment
* Technical trading strategies-covers some of the most important trading strategies for day traders and swing traders. They run the gamut, from "Fading the Double Zeros" to the "Inside Day Breakout Play"
* Fundamental trading strategies-illustrates how to trade off commodity prices, fixed income instruments, and option volatilities; and covers intervention-based trades as well as the secret moneymaking strategies used by hedge funds
* A profile of major currency pairs-discusses the unique characteristics of each major currency pair, from what drives their price action to which economic data releases are most important
Filled with in-depth insight and expert advice, Day Trading the Currency Market can show you how to enter this highly competitive arena with confidence and exit with profits.
Written by Kathy Lien-chief strategist for the number one online currency broker in the world-Day Trading the Currency Market reveals a variety of technical and fundamental profit-making strategies for trading the currency/FX market, and provides a more detailed look at how this market actually works.
Designed for both the advanced and novice trader, Day Trading the Currency Market contains something for everyone. It touches on the major FX market basics or currency characteristics that all traders-particularly day traders-need to know, and contains actionable information on which you can base some of your trading strategies. This comprehensive guide opens with a straightforward discussion of general issues, such as the emergence of the foreign exchange market, who the major players are, and significant historical milestones, but quickly delves into more detailed topics in the following sections:
* What moves the currency market-factors that impact both long- and short-term price movements
* What are the best times to trade for individual currency pairs-through an outline of major currency pair trading activity (in different time zones), you'll discover when pairs are most attractive
* Trade parameters for different market conditions-teaches you how to first profile a trading environment and then know which indicators to use for that trading environment
* Technical trading strategies-covers some of the most important trading strategies for day traders and swing traders. They run the gamut, from "Fading the Double Zeros" to the "Inside Day Breakout Play"
* Fundamental trading strategies-illustrates how to trade off commodity prices, fixed income instruments, and option volatilities; and covers intervention-based trades as well as the secret moneymaking strategies used by hedge funds
* A profile of major currency pairs-discusses the unique characteristics of each major currency pair, from what drives their price action to which economic data releases are most important
Filled with in-depth insight and expert advice, Day Trading the Currency Market can show you how to enter this highly competitive arena with confidence and exit with profits.
Inhaltsverzeichnis zu „Day Trading the Currency Market “
Preface.Acknowledgments.Chapter 1: Foreign Exchange--The Fastest-Growing Market of Our Time.Effects of Currencies on Stocks and Bonds.Comparing the FX Market with Futures and Equities.Who Are the Players in the FX Market?Chapter 2: Historical Events in the FX Market.Bretton Woods: Anointing the Dollar as the World Currency (1944).End of Bretton Woods: Free Market Capitalism Is Born (1971).Plaza Accord--Devaluation of U.S. Dollar (1985).George Soros--The Man Who Broke the Bank of England.Asian Financial Crisis (1997-1998).Introduction of the Euro (1999).Chapter 3: What Moves the Currency Market in the Long Term?Fundamental Analysis.Technical Analysis.Currency Forecasting--What Bookworms and Economists Look At.Chapter 4: What Moves the Currency Market in the Short Term?Relative Importance of Data Changes over Time.Gross Domestic Product--No Longer a Big Deal.How Can You Use This to Your Benefit?A Deeper Look into the FX Market.Chapter 5: What Are the Best Times to Trade for Individual Currency Pairs?Asian Session (Tokyo): 7 P.M.-4 A.M. EST.U.S. Session (New York): 8 A.M.-5 P.M. EST.European Session (London): 2 A.M.-12 P.M. EST.U.S.-European Overlap: 8 A.M.-12 P.M. EST.European-Asian Overlap: 2 A.M.-4 A.M. EST.Chapter 6: What Are Currency Correlations and How Do Traders Use Them?Positive/Negative Correlations: What They Mean and How to Use Them.Important Fact about Correlations: They Change.Calculating Correlations Yourself.Chapter 7: Trade Parameters for Different Market Conditions.Keeping a Trading Journal.Have a Toolbox--Use What Works for the Current Market Environment.Step One--Profile Trading Environment.Step Two--Determine Trading Time Horizon.Risk Management.Psychological Outlook.Chapter 8 Technical Trading Strategies.Multiple Time Frame Analysis.Fading the Double Zeros.Waiting for the Real Deal.Inside Day Breakout Play.The Fader.Filtering False Breakouts.Channel Strategy.Perfect Order.Chapter 9: Fundamental Trading Strategies.Picking the Strongest
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Pairing.Leveraged Carry Trade.Fundamental Trading Strategy: Staying on Top of Macroeconomic Events.Commodity Prices as a Leading Indicator.Using Bond Spreads as a Leading Indicator for FX.Fundamental Trading Strategy: Risk Reversals.Using Option Volatilities to Time Market Movements.Fundamental Trading Strategy: Intervention.Chapter 10: Profiles and Unique Characteristics of Major Currency Pairs.Currency Profile: U.S. Dollar (USD).Currency Profile: Euro (EUR).Currency Profile: British Pound (GBP).Currency Profile: Swiss Franc (CHF).Currency Profile: Japanese Yen (JPY).Currency Profile: Australian Dollar (AUD).Currency Profile: New Zealand Dollar (NZD).Currency Profile: Canadian Dollar (CAD).About the Author.Index.
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Autoren-Porträt von Kathy Lien
Kathy Lien is the Chief Currency Strategist at Forex Capital Markets LLC (FXCM). She is responsible for providing research and analysis for DailyFX, including technical and fundamental research reports, market commentaries, and trading strategies. Prior to joining FXCM, Kathy was an associate at JPMorgan Chase where she worked in cross-markets and foreign exchange trading. She has vast experience within the interbank market using both technical and fundamental analysis to trade FX spot and options. She also has experience trading a number of products outside of FX, including interest rate derivatives, bonds, equities, and futures. Kathy has written for CBS MarketWatch, Active Trader, Futures, and SFO magazines. She has taught currency trading seminars across the country, has appeared on CNBC, and is frequently quoted on Bloomberg and Reuters.
Bibliographische Angaben
- Autor: Kathy Lien
- 2005, 288 Seiten, Gebunden, Englisch
- Verlag: Wiley & Sons
- ISBN-10: 0471717533
- ISBN-13: 9780471717539
Sprache:
Englisch
Rezension zu „Day Trading the Currency Market “
Praise for DAY TRADING the CURRENCY MARKET"This is an extraordinary book that is many levels above other books on currency trading. It's filled with practical tips deriving from Kathy's experiences as a trader at JPMorgan and as an analyst and educator to online traders. A must-read for novice and experienced traders alike, this book will save readers a lot of money in expensive trading lessons."
-Drew Niv, Chief Executive Officer, Forex Capital Markets LLC
"I thought this was one of the best books that I had read on FX. The book should be required reading not only for traders new to the foreign exchange markets, but also for seasoned professionals. I'll definitely be keeping it on my desk for reference. "The book is very readable and very educational. In fact, I wish that Kathy's book had been around when I had first started out in FX. It would have saved me from a lot of heartache from reading duller books, and would have saved me a lot of time from having to learn things the 'hard way'. "I look forward to reading other books from her in the future."
-Farooq Muzammal, Head of Foreign Exchange, Europe, Refco
"Kathy's book is an indispensible tool for Forex traders, whether you are a professional or novice. It not only lays the groundwork for an in-depth understanding of Forex trading, it also contains numerous fundamental and technical strategies . . . I suspect that many traders will be keeping Kathy's book within arm's reach for many years to come."
-Eddie Kwong, Executive V.P./Editor in Chief, Tradingmarkets.com
"In Day Trading the Currency Market, Kathy Lien provides traders with unique, thoughtful, and profitable insight on trading this exciting market. This book should be required reading for all traders, whether they are novices to Forex or experienced professionals."
-Cory Janssen, Cofounder, Investopedia.com
"There are aspects to trading currencies that are different from trading equities, options, or futures. In this book Kathy Lien
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gives a deep insight into all the mechanisms that take place in the currency markets. Any currency trader will gain more confidence in their trading after reading this book."
-Jayanthi Gopalakrishnan, Editor, Stocks & Commodities magazine
"Kathy has done a brilliant job with this book. She speaks directly to traders and gives them guidance to improve their performance as Forex traders. I took some notes and ideas from the book myself that are going to be very useful for my business."
-Francesc Riverola, CEO, ForexStreet SL
-Jayanthi Gopalakrishnan, Editor, Stocks & Commodities magazine
"Kathy has done a brilliant job with this book. She speaks directly to traders and gives them guidance to improve their performance as Forex traders. I took some notes and ideas from the book myself that are going to be very useful for my business."
-Francesc Riverola, CEO, ForexStreet SL
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