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Articles & Books From Currency
Trade currencies like a seasoned pro with this friendly, fact-filled guide to the forex market Over $6 trillion changes hands in the foreign exchange market every day. You can jump straight into the action with expert guidance from the hands-on Currency Trading For Dummies. You’ll learn how the foreign exchange market works, what factors influence currency values, and how to understand financial data.
Cheat Sheet / Updated 10-15-2021
Foreign exchange (or forex) markets are one of the fastest and most volatile financial markets to trade. Money can be made or lost in a matter of seconds; at the same time, currencies can display significant trends lasting several days, weeks, even years. Most importantly, forex markets are always moving, providing an accessible and target-rich trading environment.
Article / Updated 03-26-2016
A breakout or break refers to a price movement that moves beyond, or breaks out of, recent established trading ranges or price patterns captured with trend lines. Breakouts can occur in all time frames, from weeks and days on down to hours and minutes. The longer the time frame, the more significant the breakout in terms of the overall expected price movement that follows.
Article / Updated 03-26-2016
Online currency trading is offered by dozens of different retail trading brokerage firms operating from all over the world, so you have many options to choose from. Here are some key questions to ask when you’re choosing a broker: How good are trading executions? The key to evaluating any brokers is the speed and reliability of your trade executions.
Article / Updated 03-26-2016
In addition to the ebb and flow of liquidity and market interest during the global currency trading day, the following daily events tend to occur around the same times each day. When currency options expire Currency options are typically set to expire either at the Tokyo expiry (3 p.m. Tokyo time) or the New York expiry (10 a.
Article / Updated 03-26-2016
Forex markets refer to trading currencies by pairs, with names that combine the two different currencies being traded against each other, or exchanged for one another. Additionally, forex markets have given most currency pairs nicknames or abbreviations, which reference the pair and not necessarily the individual currencies involved.
Article / Updated 03-26-2016
When you look at currency pairs, you may notice that the currencies are combined in a seemingly strange order. For instance, if sterling-yen (GBP/JPY) is a yen cross, why isn’t it referred to as “yen-sterling” and written “JPY/GBP”? The answer is that these quoting conventions evolved over the years to reflect traditionally strong currencies versus traditionally weak currencies, with the stronger currency coming first.
Article / Updated 03-26-2016
Knowing the fundamental drivers of currency rates is the foundation of understanding price movements. This is very important to understand if you want to trade currency as an investment. Here are some suggestions: Get to know the major economic data reports from all the major economies. Understand the importance of expectations versus actual outcomes.
Article / Updated 03-26-2016
Identifying trading opportunities and planning each trade from start to finish is essential to success in currency trading. When you trade currency as an investment tool, remember to: Maintain trading discipline by formulating — and sticking to — a complete trading plan: position size, entry and exit (stop loss and take profit) before you enter a trade.
Article / Updated 03-26-2016
These "beginner" trading mistakes are made by everyone — from total newcomers to grizzled forex market veterans. No matter how long you've been trading, you're bound to experience lapses in trading discipline, whether they're brought on by unusual market developments or emotional extremes. The key is to develop an intuitive understanding of the major pitfalls of trading, so that you can recognize early on if you're letting your discipline slip.