Foreign-exchange-market Books

I was looking for something more relevant to understanding how to work with and the stock market. This book read more like a history book.

I took a quick glance over this book at a local book store. The author took a few popular indicators and commented on them with respects to various stock picks, plus other discussions on technical analysis that I found to be basic materials. However, he put a little twist in one of indicators that I found very interesting (I haven't thought of this indicator this way before). Thus, I programmed this method of analysis into my TradeStation and found it working quit well. Thanks Colin.

No single book on investing will provide you with all the knowledge you will need to be comfortable investing, but Colin Alexander's book comes as close as any. The book starts with the basics, and assumes no prior knowledge or experience with trading. It explains, in detail, the major charting patterns and technical indicators, and provides an algorithm for when to buy and sell. Having read over a dozen books in the field, I find that his suggestions are in-line with the prevailing philosophy of most traders. If you have yet to read a book on technical analysis or swing trading, I would highly recommend to start with this book. If you are already an intermediate trader trying to elevate your technical skills, you may find this work too rudimentary. All in all, this is an outstanding work that is clearly written and easy to implement.

When I picked up this book, I expected something similar to the book All About Market Timing, which overall I thouht was a good book. However, I got something very different in this book. This book consists of an introduction to a handful of indicators, such as on balance volume, the macd, moving averages, stochastics, and some subjective price patterns.
The description of these indicators seems okay to me, although nothing special. He has a brief section on options, where he makes a lot of extremely dubious claims, including the often-repeated professionals sell options, amatuers buy them. I suppose if you repeat this lie often enough, somebody is bound to believe it. He goes on to describe what is apparently his preferred option strategy: covered calls. There's nothing wrong with covered calls or being long premium or any other option strategy, but to claim that one is correct and the others are wrong is quite questionable.

He also is fond of uncovered puts, as a viable option strategy -- unfortunately, this strategy does not work out over the long term; you make steady small profits until you encounter a 10+ sigma event in the market, and get blown out. The lessons of LTCM and Niederhoffer should not be forgotten, especially given that equities markets trend far more than one would assume based on a log normal distribution. High probability trades are not always good trades!

I'm trying to get a handle on the intended audience of this book. It seems to be intended for people new to a technical approach to the market, and if that's the case, I don't think it'd make it to my top 100 list of such books. If someone is new to technical approaches, i'd probably recommend the much smaller (and in my view, much more useful) The Visual Investor by John Murphy.

Overall, I think this book should be avoided like the plague. There's nothing new in this book, just rehashed age-old advice, some of which is dubious, some of which is good.

This book is a tremendous gift to future generations and should be the basis of a mandatory course for everyone in highschool. If it were already, many of my friends and acquaintances would not have lost their fortunes in the last 3 years' bear market.
There is a mountain of great advice and detailed checklists for buying, selling and shorting stocks. Some of my favourite quotes are as follows:

-"The mutual fund industry constantly trumpets from the rooftops the merits for the long term...However the benefits...diminish significantly when capital is constantly eroded by transaction costs and withdrawals to pay capital gains tax...Dickens observed that 'the business of lawyers is making business for lawyers.' Things do not change. The investment business is not immune to mutual back-scratching at the expense of the public...There is no doubt that the rapid turnover of stocks is one reason why so few funds come close even to equaling the performance of the stock indexes."

-"Never put a large amount of money into stocks all at once."

-"Buy bonds for retirement when you are retired."

-"It is as important to know when to sell a stock, or when to sell it short, as when to buy it."

-"It is an absolute certainty that in the future there will be stock market declines similar to the one in 1987. Some will be more severe and some will last much longer." [Alexander's book was published in 1999 before the major bear market of 2000 -...]

-"During a general bear market put [ALL] your money into cash equivalents like Treasury Bills until the storm blows over...Contrary to popular belief, for all practical purposes there are no stocks to own when the general direction of the market is down."

-"There is certain to be a sell signal for every stock you ever own...Warren Buffett...has shown that the stated policy of the mutual fund industry ['buy and hold'] does in fact work...in a bull market"!

"The market is always right; you either make money or you lose it!"

-"It often happens that the stock that doubles once goes on to double again...the greatest stocks always look expensive."

-"Buy strength, not weakness!"

-"Do not buy many different stocks...Aimless diversification merely increases the liklihood of investing in fewer great stocks."

-"Always place an initial protective stop as soon as you buy a stock."

-"A Lindahl price rule and a double reversal price rule are particularly powerful indicators of the potential for a stock to make a substantial move."

-"You should never own a stock making a new 52 week low but you might well consider selling it short."

-"In a general bear market you should generally do nothing but sell short, if you are in the market at all."

-"The downside [in] writing options is [they are] a waste of time compared with owning stocks like Microsoft and Intel when stocks are really running."

The book has many more gems and concrete action plans. It is the most useful book for the public I have ever read. It should top Hillary Clinton's autobiography and Harry Potter, but, regrettably, it won't! People will continue to listen to their liars - their brokers, financial planners and mutual fund salespeople, regrettably. A few will read the book, and be wiser, and richer!

The book contains a wealth of practical information however there are errors in the mathematical formulas, dates and etc. This is most frustrating from a reader point of view and dampened the confidence in the material presented. However, it is relatively a easy read for general understanding of the money and FX markets. I hope the author does a more thorough check in the future edition in order to do this book justice.

This is a great practical book for the beginners and intermediate people in the market. When I started in the market as a business analyst, with no prior experience, it was a confused world of trading. After reading this book, things make much more sense. In addition, the book explains brief analytics on how to price and when and why certain instruments will be used for trading. It is geared towards trading. Refer to other books if you are more interested in middle/back office functionality (like settlements, P&L calc, risk management etc.)

This book is excellent for beginner as well as for advance. It covers all the details right from bottom to top in a very lucid language. It also covers enough diagrams that explains the subject very well.

If you have some experience of foreign exchange trading, this book is not for yourself. You would learn everything written here within the first six weeks of your job as a foreign exchange trader.

However, this book is great for the REAL beginners who want to learn about foreign exchange from the very beginning and for trainers or teachers who teach those who has little knowledge the foreign exchange. This book starts from explaining what bids and asks are and explains so far up to the mechanics of foreign exchange derivatives. The most remarkable feature of this book is illustrations of deal components and market segments showing how each deal components and markets are related to each other. Detail explanation on different market conventions applied to different currencies is also useful. Short questions at end of chapters are good to review what you should take away from the chapters.

Many a times, trainers in the banking industry find it very difficult to teach complex subjects like foreign exchange and money markets to relatively junior guys. This book will prove to be of great help to those trainers. Probably the first ever attempt in this subject.( Luca's text book can easily be replaced by this book just because of its excellant padagogy). Hope other titles advertised by RFT will also become available soon, specially the one on Risk Management.

Gerry really helped me with keeping my trading in the positive. The techniques that he goes over in the book are prices less. Chapter 5 is a must read for any forex trader.

Thanks again for sharing your priceless knowledge.

Sencillo y con bastantes ejemplos que muestras las posibles situaciones que día a día como trader enfrentamos.

Permite explorar herramientas que pueden hacer que recupere ciertas entradas
pero como los es en todo lo relacionado con el análisis técnico, el backtesting y la personalidad del trader lo es todo

I have been trading for years and the FOREX for four years and this is one of the best books I've read on the subject. I highly recommend it.

This was an excellent read. I bought this book partially because of the title "Turning Losing FOREX Trades into Winners." You see, I'm definitely one of those that had some losing trades and I thought it would be refreshing to read something that dealt with my reality.

Initially, I was simply hoping for some tips on when to reverse a position, and while I found that, I found it while getting something I wasn't expecting. The whole book is loaded with images (the second half seems to have more real estate given to visuals than to text) that deal with the practical reality of entering trades in "gray areas." That is, instead of focusing on the fairly rare "perfect entry," the book deals with what the market actually looks like every day, where you simply don't see the prototypical entry. It does show trader's dream entries, but only to make a point. Then it goes on to show multiple cases of what you can expect to actually see.

The text seems organized to allow beginners to get a greater feel for the topic while allowing experienced traders focus on specific trading techniques. Being somewhere in the middle, I found the explanations helpful, yet I'm keeping the book/website open to specific sections. It's certainly worth the investment.

Target market
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Regarding profitability, there are two types of traders; those making and those losing money. If you are losing money (i.e. your strategy has a negative expectancy or faulty execution) then this text CANNOT HELP YOU. In this circumstance, cost averaging as expressed in this text will cause you to lose money faster since the premise is to make up for losses on the next or the next few trades. This is what is known as a Martingale type system (see Wikepedia for info on Martingale). As Van Tharp always says, the anti Martingale approach works.

If you are making money with your system, i.e. positive expectancy, then I would ponder one thing about taking the advice in this text and that is ... Why would I alter my money management system because I've lost a trade? Certainly my money management approach will take into account losses and still be able to steadily increase my portfolio. Additionally, increasing your risk on the next trade assumes that your next trade is more likely to be successful than your last trade. Well, free Internet research will show that this premise is incorrect. Additionally, cost averaging is dangerous and may actually cause a good system to become marginal and a marginal system to lose money. Please read good money management texts for factual evidence to back up my claim (Van K Tharp etc).

Shallow
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With regard to the text's shallowness, I can only say that it has no clear strategies. In fact, even the cost averaging that the book purports to teach has been handled in a very sketchy fashion with ideas on how to effect it strewn throughout the text in sentences such as "when suffering two or more losses in sequence, I do not attempt to recover everything with one trade, but spread it out over the next three or four entries" (page 101). Why not the next five or six entries, or seven our eight or one or two. Where is the rational behind using the next "three or four" entries. This statement alone should clue newcomers to trading to the fact that cost averaging is very dangerous.

The title is very appealing to those searching for the truth. The closest you will find in this text is the mention of their proprietary ROI (River Oscillator Indicator). I know nothing of the indicator but from the author you get the feeling that it is very good bordering on miraculous. You'll have to pay for it. Nothing wrong with that. However, this book does not teach you how to use it. If interested, contact Concorde Forex Group, find out the cost of the indicator per month and any other costs such as training to use the indicator. Then make a reasonable decision as to whether or not it is worth it to you.

In closing, if you have a propensity for gambling, (which I don't recommend) then I suggest you review the freely available techniques available on the net. In fact, they will even give you detailed methods of how much to risk, how much to increase your risk for each subsequent loss and when to quit (when you have reached your draw down limit), which is more specific information than contained in this text.

I live outside the US, so lucky for Amazon that it's not cost effective to return this book.

DeRosa has picked excellent papers. If one reads the papers in detail, the currency derivatives literature, as well as related derivatives literature, becomes very easy to understand.

This book presents highly technical papers on diverse topics from variuous academics. It would be very helpful to anyone looking to understand theoretical aspects of FX derivatives. Since most papers are written by different authors, notation is not consistent. In addition, academics do not always write like Hemingway. Nevertheless, the book covers everyhting from vanillas to exotics very well.

Being an outsider of European Intergration as asian, I can catch layout picture from this book about the EURO system. Even it will bring new future in major regions on focus economy and business. This book is not under academical theories only but also on practical issues. And the writing is not hard to read for non-inglish speaker.

It's a book about EURO which you'll find interesting. It is actually a collection of articles written by various industry specialists. It examines the impact of EURO on many areas like Bond Market, Equity Market & foreign exchange rate etc, it also illustrates the role of ECB.

It's recommended to students who want to have a quick grasp of knowledge in the EMU. It contains many graphs and diagrams which can raise your speed of reading. However, the impact of Euro on Equity market is a little bit too short.

Highly recommended to overseas students in Europe.

I did, and I found that this book gave me a clear and comprehensive knowledge base for this new (at least new to me) investment vehicle.

While I have been following the growth of ETFs for a some time in the financial media, I've been confused about how to select them and why they're sound investment alternatives. This book provided sound discussions about the various funds and why this is a good investment strategy. The charts were helpful and overall this is a very well written investment book

Contents Include:

* Currency Derivatives: A Guide for Practitioners (G. Hopper)
* Everything You Ever Wanted to Know about Currency Futures..(H. Taylor)
* Central Banks and the Currency Markets (A. Hodge)
* Speculative Trading and Hedge Funds (M. Rafferty)
* Fundamental Analysis (Earl Johnson)
* Technical Analysis (T. Basso)
* Option Strategies (Neil Record)

* Maximizing Diversification in International Investing: New Opportunities (V. Parker)
* Immunization Strategy for Multinational Fixed-Income Investments (Hauser, Levy, Yaari)
* Currency-Hedging Foreign Investments: Why Bonds and Equities are Different (Lee Thomas III)
* Measuring the Performance of Currency Managers (B. Strange)

* The relationship of Management To Effective Risk Control (Alex Koh)
* Risk Measurement (Linsmeier & N. Pearson)
* The Uses of Analytics (E. Zask)
* Passive versus Active Management (L. McNew)
* Foreign-Exchange Risk Management at Tenneco (James West, Jr.)
* Regulatory Issues: Accounting and Financial Reporting for Instruments Subject to Global Currency Risk (Herz, Linsmeier, Bhave)

This book contains some useful stuff for those hoping to understand exchange rate risk management. Unfortunately, being a collection of articles by different authors, it also contains a lot of stuff that is less useful and lacks coherence. A good book for those involved in risk management to delve into on occasion. Beginners need to be careful as it seems to contain some questionable arguments.

A very readable (and detailed if you read those parts) introduction to the subject of international finance.

The standard MBA text book, and one of a handful of finance books recently deemed significant enough to be translated into Chinese.

Also, how can you resist a book with sections on topics such as 'Banking Telecommunications and the Information Superspyway' as well as dry and very detailed math on derivatives trading models.

Other reviews from the great and good:

"This is the best text I have seen in international finance. Good work." Stephen P. Magee, Department of Finance, University of Texas.

"Grabbe had taught several 'Market Wizards' to trade currencies--and this is the book they recommend for understanding currency fundamentals." Dr. Alexander Elder, Director, Financial Trading Seminars.

"This is an original and insightful presentation of material that is often ignored or badly treated in other books." Richard J. Herring, Director, Wharton Program in International Banking and Finance.

"An exceptionally well-written book with detailed coverage of the financial markets in the international scene." Rahul Bishnoi, Department of Finance, University of Wisconsin.

". . . too much detail on markets." [Name Omitted], Tufts University.

"Excellent book . . . teaches students about actual markets and financial instruments..." J. A. Rosensweig, Yale University.

". . . an excellent and lucid analysis of the functioning of the international money market." C. Lawrence, Columbia University.

"Last year I found your book in the Beijing Library (the National Library of China) and had it xeroxed. . . Now I am cooperating with one of my friends to translate it into Chinese . . . China is trying very hard to apply the market mechanism to her economy." Zhang Bin, Industrial & Commercial Bank of China.

"By far the best book available. Well-written, up-to-date & accessible . . ." Asim Erdilek, Case Western University.

"This is an excellent, challenging, well-written book." E. B. Fredrikson, School of Management, Syracuse University.

hello sir/madam
h r u.i hope u will be fine and everything is ok there.i want a brief about international financial market because i will be going to present this in front of a group.so plz send me free details about this topic.
i hope my request should be accepted and sould be replied very soon.
bye

Verdun aims to discover why, given that EMU greatly reduced national sovereignty, there was so little public discussion of its costs and benefits. As she noted of EMU, "This transfer of national sovereignty can arguably be considered to be one of the most far-reaching formal transfers of sovereignty to the European level that the European Community (EC) members have witnessed to date." She studied the ways that central bankers, Ministries of Finance, employers' organisations and trade union leaderships in Britain, France and Germany all perceived EMU. The bankers, Ministries and employers' organisations agreed that EMU would strengthen the market mechanism in Europe. They also agreed that it would assist their efforts to create a single European state. As Verdun observed, "EMU will eventually necessitate more integration of economic, fiscal, social and labour policies." Some quarters of the TUC hoped that associating themselves with the EU's decision-making process would increase their power. But the more the TUC claimed to set the EU agenda on social and employment issues, the more it linked itself to the EU's disastrous impact on Britain's industry and welfare. Some trade union leaders thought that the EU would restore the influence over economic policy-making that they had lost at national level. But cosying up to the employer, whether European or British, weakens our unions, not strengthens us. Some thought that possible gains from the Social Charter would justify the certain losses from labour market flexibility. But who talks about the Social Charter today? Did it save any of the 96,000 manufacturing jobs destroyed in Britain last year? So why was there so little public discussion of EMU's costs and benefits? Verdun does not finally explain, but one suspects that it was because its benefits would accrue only to the ruling classes of Britain, France and Germany, while the public, the vast majority of us who have to work for a living, would suffer all the costs.

From the publisher: "Foreign Exchange and Money Market" is a comprehensive handbook for those seeking insight into the dynamic world of international currency dealing. It provides a structured illustration of the complexities of foreign exchange, money market and the interplay of market forces through real world examples and case studies.

In addition to the fundamentals and history of these markets and rounding off this extensive manual, it delves into the conventions and practicalities of sales and trading observed in the manual today.