Forex: Learn About: FX Trading & Inflation Protection, Various Forex Options & Technical Analysis

By: Scotti Hammerman

Narrated by: William Bahl

Is trading in the Foreign Exchange market really lucrative? Does forex trading require specialized equipment or accounts? What does it take to invest successfully in the currency exchange trading?

Whether you're a seasoned trader or just starting to invest, Forex: Learn About FX Trading & Inflation Protection, Various Forex Options & Technical Analysis is an excellent place to start exploring the potential of trading on the Foreign Exchange. This short introduction is not a get rich quick scheme; it's designed to provide all the knowledge and tools you need to trade with ease.

You'll start with an introduction to Forex Trading and learn about the benefits of investing in Forex markets. You'll also get all the details required for success including:

• The equipment and accounts you need to get started
• Simple strategies and tips for investing
• How to conduct a fundamental analysis of different currencies
• Answers to frequently asked questions about foreign trading
• How to choose the right holding period
• Essential Forex market dos and don'ts
• How to calculate and track your investments and profits

In the past decade, trading volume in the Foreign Exchange has grown to exceed the stock market nearly 10 to one, making it a potentially lucrative choice for investors. Unfortunately, few understand the details well enough to succeed.

Stop selling yourself short and start investing in your future today with Forex: Learn About FX Trading & Inflation Protection, Various Forex Options & Technical Analysis.

©2017 Lean Stone Publishing (P)2017 Lean Stone Publishing

Very interesting

A must-have audiobook for all levels- beginners, intermediate, and advanced. In this book, you will look at the different aspects of forex and see how you can. It covers topics such as understanding the meaning of the Forex market, the basic concepts, the different dos and don'ts, and general tips that will help you invest in the forex market, and more.

The author discusses topics such as understanding the meaning of the forex market, the basic concepts, the different dos and don'ts, and general tips that will help you invest in the forex market. His writing style is very engaging and only gets bogged down when the maths of calculating margins etc comes into discussion, but that is inevitable and the author provides many examples.

Overall it's an easy understand from chapter to chapter. Thoroughly recommended, even more so at this price! I shall definitely be purchasing further books by the author. Nice examples of actual data and real-life examples that can be followed.

Good thing I found this guide.

Good thing I found this guide. With the help of this guidebook, I was able to learn how to analyze data and plan my investments, keeping a cool head when I lose, and not funding my choices on emotions. It's a great help indeed. I highly suggest this book to anyone.

An interesting guide to listen to

This audiobook provides a step-by-step guide that offers practical examples and exercises. My favorite part is the self-evaluation section that will help you monitor your progress and check what you have learned. I think, this is a must-have for all. I'm very happy to listen this kind of book.

Exactly what I needed

This course is exactly what I needed. I did forex trading a few months ago and knew nothing about it before I listening to this audiobook.

Scotti Hammerman definitely knows Forex! He offers amazing information you need to know about how the market works and how to trade plus those great nuggets that help you know what good traders do.

If you have any questions about how to choose a good broker or how to open a trade, it's in here. Everything's in here in an easy to understand and follow resource. I'm so glad I chose this book over the millions that are out there.

I'd highly recommend picking this one up if you want to know how to trade or just what Forex is. Perfect for beginners and pointing out the pitfalls as it goes along.

PATIENCE, COURAGE, and DISCIPLINE

I am pretty new in forex and trading in general but I spent weeks watching videos on Youtube and read everything that I could. As a result, I was confused and still didn’t know where to start. What I like about this book is how it is written in a very organized manner and without promising that you would be the next millionaire, it shows that the power to be profitable is in your hand. It is all about PATIENCE, COURAGE, and DISCIPLINE.

Good info

I gained a lot of information from this book I feel enough to kick start my journey. The book is very well written and takes a beginner step by step into the forex world.

Not just for leveraged trading

Moving averages refer to using the power of the trend to assess the direction of the market. As you know, it is extremely important for you to be able to predict how the value of the currency will move next. For this, it is best to go through the different trends that the value of the currency has been following in the recent past. The basic idea is to trace the trend that the price has been following. How is it moving ahead, where does the price reversal point lie, at what point is it most profitable to sell the currency, etc.? There are three main types of moving averages namely the simple moving average, the weighted moving average and the exponential moving average. The simple moving average method is the easiest one. You have to take a series of price points, add them all together and then divide them by the total number of price points. This is a very basic method yet quite effective. The next type is the weighted moving average method. In this method, you assign the rates numbers based on the time when they were calculated. The oldest one receives 1 and so on. The third method is the exponential moving average method and involves extreme mathematical calculations, which goes beyond the scope of this book.

Is the forex trade lucrative?

Yes. Forex trading is a lucrative business. You will have the chance to make a lot of money if you understand how exactly to play. We looked at the basic concepts and strategies that you need to employ when you choose the currencies to trade in. Once you choose the best pair, you can easily make a lot of money from it. You have to remain alert and attentive, and that will help you in a big way. You can make thousands of dollars a year by indulging in forex trading.

STEP-BY-STEP

The first step is to buy yourself a reliable computer that you will be using to trade in the forex market. Try to buy yourself a separate laptop that will be dedicated only towards trading in the stocks. You have to set up a separate room for your stocks, as it is important to feel like you are engaging in an important activity. The computer should be fast and have the latest operating system installed. You can take the help of someone to set it up for you if you wish to have a well operating system in place.

The next step is to set up a fast and reliable internet connection. As was mentioned before, all transactions occur in a network called ECN and speed is an important factor to send the orders to the market. If you have relevant experience in buying and selling stocks in the stock market, you can easily buy and sell the currencies in the Forex market. But you have a fast internet connection in order to proceed with the trades. You cannot have a slow connection as every minute counts in the currency market and being slack will only cause you to lose a lot of money. You must also have a backup Internet system in place to avoid any losses.

The next step is to set up a trading account. For this, you have to contact a company that deals in Forex trading and will handle your settlements. You can either request for a personal account where you do all the trading yourself or a managed account where a professional trader does it for you. Once you find out about the best firm, you have to approach them and ask for appropriate forms that you have to fill up to start an account. You have to then activate your account by typing in the information that the company or bank will provide you with. If you are a newbie in this field and wish to start with forex, then you should probably hire yourself a trader or money manager. A trader will do for you, for a percentage of the profits obtained. A good trader or money manager should be able to take care of everything in regard to your investment. The next thing is to look into your commission information. This means that you look at what the broker and the firm are charging you. Most of them charge based on how much you are trading with and what investments you have made. If they are charging you too much, then you can try negotiating with them. If they still charge too much, then it is best to move to another company.


The next step is to pick the currency in which you will carry out your trades. This currency can be two of the majors that were discussed before or any other pairing that you think will work in your favor. The most common pairs are the dollar/Yen, dollar/ Euro, etc. You have to look at each of these and see which one will work best for you. Once you have made your choice, you should move to the next step. You have to now calculate your potential profit. Your potential profit is the amount that you will be able to make from your investment. That depends on the two currencies that you have chosen. You have to calculate the basis point and see how much money will come your way when you buy and sell the two currencies. If it is a good amount, then you must invest without thinking twice, but if the amount of profit is only marginal, then you are better off without the deal.

The next step is to conduct research on the currencies. You have to perform the technical, fundamental and sentimental analysis in order to know if the currencies that you have picked are good choices. The market research will always have to be done with perfection in order for you to remain in profit. If you indulge in something rough, then it will not work for you.

The next step is to place a market order. For this, you have to get acquainted with the order placing a process that your brokering firm offers you. You have to log in and place an order for a currency pair. Once you do, you will be awarded the currency depending on the amount that you have chosen. All it takes is a few clicks, and your order will be completed. If you are going through a broker, then he will also go through the same process to place your order. Once done, he will intimate you about the same.

Once you own it, you can sell it also with a click or two.

Made life easier to understand Forex.

As a beginner to forex, I found the steps to be straight forward and the basics explained without going into unnecessary details. This book made life easier to understand the basic concepts of trading forex. Thanks Scotti Hammerman for this amazing book.