Product Description

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 market, and provides a detailed look at how this market actually works. It contains actionable information and strategies, which can help you enter this highly competitive arena with confidence and exit with profits.

Product Details

• Amazon Sales Rank: #307878 in Books
• Published on: 2006-01-10
• Original language: English
• Number of items: 1
• Binding: Hardcover
• 256 pages

Review
"...a leap forward in sophistication..."  (The Technical Analyst, June 2006)

"…well researched ideas…Lien’s expertise really shines through…" (Shares, August 2006)  

Review
"...a leap forward in sophistication..."  (The Technical Analyst, June 2006)

"…well researched ideas…Lien’s expertise really shines through…" (Shares, August 2006)

From the Inside Flap
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.

Customer Reviews

Poor, Poorer, Poorest.
VERY long on history, VERY short on substance. Lots of plugs for various websites and services but next to useless for anyone with more than a basic knowledge of Forex trading. Gives background information and history lessons throughout but gives little in terms of actual profit making strategy. Bitterly dissapointed with this book. I didnt expect this book to make me a millionaire overnight, however i didnt expect to nod off while reading it either !.

Pretty Good
This book is pretty good for people who are novice or intermediate traders. The book is a bit long on history, as most are, but does provide helpful strategies that are well explained. Whether you are a technical or fundamental trader, I would add this to your bookshelf.

Work in Progress
Over the past three years I must have spent a fortune on trading books, often with mixed emotions about what I've actually got from them. But this is the first time i've been left feeling really frustrated.

Why, because given the author's first-rate credentials and experience, you can't help feeling that it's been rushed and she was working to a publisher's strict deadline. Either that or she's not playing full-out and is keeping a lot in reserve. Either way, it's a case of what could have been rather than what is....

There's nothing wrong with the content per se - though I'd question the prominence given to detailed market history and fundamentals in a relatively slim (240pp) volume aimed at day trading. But too often you're left thinking "when will Lien get on with it" and offer up the kind of insight and advice that her credentials suggest she is capable of.

There are the odd glimmers of hope, useful advice on trade preparation and journal keeping, major currency profiles and correlations all hint at untapped potential but sadly the book runs out of steam before it really ever gets going.

The lack of a "conclusion" or closing chapter also compounds the "work in progress" nature of the book. As does the lack of a references /further reading section - instead we're given several plugs for websites which Lien has a commercial interest in.

The second edition is out in December. Unless the second edition puts more meat on the bone, then my advice would be to view a purchase with considerable trepidation and limit your spending to a cheap used copy.