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Currency Trading in the Forex and Futures Markets

By Carley Garner

Published by FT Press

Published Date: Jan 27, 2012

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Currency trading offers immense potential to stock and futures investors seeking new speculative opportunities. However, there are several ways to trade in currencies, and many unsuspecting traders have been burned by aggressive marketing campaigns and gimmicks luring them into unfavorable trading environments. In this book, best-selling trading author Carley Garner covers everything new currency traders need to know to avoid those pitfalls and start earning big profits. Currency Trading in the Forex and Futures Markets begins by demystifying all the essentials, from quotes and calculations to the unique language of Forex trading. Readers learn all they need to know about choosing trading platforms and brokerage firms; working with leverage; controlling transaction costs; managing liquidity, margins, and risks; and much more. Garner thoroughly explains the currency spot market (Forex); currency futures traded on the Chicago Mercantile Exchange (CME); and currency ETFs. She candidly discusses the advantages and disadvantages of each, cutting through the "smoke and mirrors" often associated with currency trading. Readers will also find a full section on currency market speculation, including a clear introduction to fundamental and seasonal analysis in currency markets. With her guidance, new currency traders can identify the markets and approaches that best fit their objectives, and avoid the pitfalls that have often victimized their predecessors.

Table of Contents

Introduction to the World of Currencies     1
Chapter 1: What Is FOREX?     5
Chapter 2: Making "Cents" of Currency Pairs     17
Chapter 3: FX Brokers and the Reality of Transaction Costs     25
Chapter 4: Is FOREX the Currency Casino?     51
Chapter 5: FOREX Trading Quotes and Calculations     59
Chapter 6: What Are Currency Futures?     65
Chapter 7: Calculating in Currency Futures     83
Chapter 8: Currency ETFs Versus FOREX and Futures     97
Chapter 9: Order Types and Choosing a Currency Trading Platform     109
Chapter 10: Currency Options     125
Chapter 11: Currency Market Fundamental     133
Chapter 12: Getting Technical with Currencies     159
Chapter 13: Tips and Tricks for Currency Traders     183
Chapter 14: Currency Lingo     199
Index     213


Currency Trading in the Forex and Futures Markets

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