The Best Time to Trade Currencies

5 stars based on 39 reviews

He may be reached at. Clicking the links below takes you to Amazon. You alone are responsible for your investment decisions. According to the book jacket flap, Kathy Lien is the Chief Currency Strategist at Forex Capital Markets where she provides technical day trading and options trading the currency market review fundamental research reports, commentaries, and trading strategies. Before that, she worked as an associate in cross-markets and foreign exchange trading at JPMorgan Chase.

Lien has a bachelor degree in finance from NY University. What first struck me about her book is the quality of the writing. The way the words are phrased, how she develops the narrative, and the tone all suggest that "I know what I'm talking about" without her having to say so. It is a refreshing change from other books written by less talented writers. The book is about the Forex market FX. Lien begins the first chapter by comparing the FX market to other types of markets such as equities and futures.

The Forex day trading and options trading the currency market review is the largest in the world, trades continually with low transaction costs, customizable leverage up to times for miniature accounts, otherwise xand is well suited to technical analysis. Costs are further reduced by the efficiencies created by purely electronic marketplace that allows clients to deal directly with the market maker, eliminating both ticket costs and middlemen," she writes.

Chapter 2 takes a historical look at the FX market and it is a fascinating read. It covers the Bretton Woods standard in that created the framework for governing the international economy.

The Smithsonian Agreement in tried to maintain fixed exchange rates while eliminating the gold standard but also allowing the value of the dollar to float in a wider range 2. That agreement lasted about 6 months. Then came the Plaza accordwhich allowed the value of the dollar to decline against other currencies. Next, Lien takes a wonderful trip down memory lane and discusses how George Soros "broke the bank of England" The bank of England tried to fend off the attack by raising interest rates and making the pound look more attractive to investors, but when other speculators and traders jumped on board the Soros train, the wheels came off the pound and it tumbled.

She discusses the Asian financial crisis that started in and resulted in once-high regarded currencies imploding upon themselves. Then the Euro appeared in and all was right with the world again. Chapter 3 shows the various factors that move currencies over the long term and chapter 4 examines the short term. Page 58 is where the good stuff begins with her analysis of the dollar in and what moves it during the first 20 minutes after an announcement. She shows the daily effects of these announcements, too, and cautions that they change over time.

Infor example, the trade balance announcement moved markets the most during the first 20 day trading and options trading the currency market review after the announcement. The next chapter discusses the best times to trade the various markets.

She shows a table of average pip ranges from toseparated by currency pair, for the various time frames. She also explores the volatility of the currency pairs because a currency that has the heart beat of a dead animal is useless as a trading vehicle.

She shows graphs of the various currency pairs versus the daily trading range for each market. Chapter 6 is a brief look day trading and options trading the currency market review the correlation between currency pairs. Why is this important? Because trading two correlated pairs is like having a double position in one pair.

Chapter 7 is "Trade parameters for different market conditions," and even though I trade stocks and not the Forex, her trading journal piqued my interest. She creates a table of currency pairs, their price and whether they are trending or range bound.

The behavior of the 10 entry grid will tell you if you should concentrate in trading a particular currency pair by using range bound tactics selling at peaks, buying at valleys or trending buying-n-riding, sellin' and chillin'.

Lien walks you through the trading environment range or trendthe anticipated hold time, and risk management. She also says that "Whether you are trading Forex, equities, or futures, there are 10 trading rules that successful traders should live by: Keep position sizes reasonable.

Trade with the trend. Never add to losing positions. Learn from mistakes Set a max loss or retracement of profits. These two chapters are where she opens her toolbox and lets you take a peak.

She begins with "multiple time frame analysis," "fading the double zeros" 00 -- as in round numbers as they apply to day trading and options trading the currency market review Forex market"waiting for the real deal" trading day trading and options trading the currency market review false breakoutsinside days, fading, strategies for eliminating false breakouts, trading channels, and using moving averages that line up in "perfect order. Then she discusses fundamental setups in chapter 9.

Combined, the two chapters amount to about 70 pages of trading setups and information. The last chapter in the book takes an in-depth look at the major currency day trading and options trading the currency market review, covering the "broad economic overview," "monetary and fiscal policy makers," "important characteristics," and "important economic indicators.

How do you save a man from drowning? Take your foot off his head. Subscribe to RSS feeds. He may be reached at Support this site! Day Trading the Currency Market. Inside the Book What first struck me about her book is the quality of the writing. Chapter 2 Chapter 2 takes a historical look at the FX market and it is a fascinating read. Chapters 3 and 4 Chapter 3 shows the various factors that move currencies over the long term and chapter 4 examines the short term.

Unemployment nonfarm payrolls, avg range: Interest rates FED rate decisions, avg range: Chapter 5 The next chapter discusses the best times to trade the various markets. Chapter 6 Chapter 6 is a brief look at the correlation between currency pairs.

Chapter 7 Chapter 7 is "Trade parameters for different market conditions," and even though I trade stocks and not the Forex, her trading journal piqued my interest.

Chapters 8 and 9 These two chapters are where she opens her toolbox and lets you take a peak. Chapter 10 The last chapter in the book takes an in-depth look at the major currency pairs, covering the "broad economic overview," "monetary and fiscal policy makers," "important characteristics," and "important economic indicators.

Day trading and options trading the currency market review and other types of trading setups. The complete collection of book reviews. Read about my books before buying one of them. My favorite books, including fiction, finance, and non-fiction Finance bookstore.

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