currency trading books

darrenf

Well-known member
481 3
Wayno

I posted a thread ages ago trying to find out if institutions actually employ speculative/ directional traders who are given an account and basically given the objective of making a profit. (ie the same as a private trader).

Most of the answers I got related to traders operating in the stockmarket and it seemed that there are virtually no traders of this sort actually employed by institutions, basically because such a small % of traders make money, that overall, it is unprofitable.

You mentioned that you were an fx trader. I understand that a large % of turnover in the fx markets is purely speculative. Were you employed as a speculative trader/ do institutions employ a large number of speculative fx traders. If so, what sort of % are actually profitable?

I would be interested to know this to give me a better picture of who the market participants are.

Thanks
 

Max44

Junior member
20 0
There is a really good trading books site in the US www.traderslibrary.com . They a normally cheaper than getting them from AMAZON; even after the delivery costs (it is only normally cheaper if you select the cheaper euro delivery option, which takes between 10-20 day.. maybe longer at times). If you spend over a limit they knock of $5 delivery charge per book.
 

Chris Hood

Junior member
38 1
Saxo: first-hand experience

TheOwl said:
I Noticed kevinmcm spoke about Saxo Bank , and I was wondering if anybody has any experiance of dealing with them. I am mainly interested in FX trading many thanks


For my experience with Saxo, see my other posts on the board.
 

Beach Runner

Active member
128 2
does anyone know of any good introductory books on currency trading aimed at the individual trader


I see the Luca books have been mentioned; here's another:

"A Foreign Exchange Primer" by Shani Shamah (Wiley, 2003)
 

TRADERguy

Active member
122 3
Beach Runner said:
I see the Luca books have been mentioned; here's another:

"A Foreign Exchange Primer" by Shani Shamah (Wiley, 2003)
Beach Runner,



How detailed a book is this? I looked at the table of contents on Amazon.com and the book seems to delve into every nook and cranny of FX (history, spot, forwards, options, swaps, futures, technical analysis, and fundamental analysis) but the book is only 196 pages. Is this an overview for beginners or does it get into something real for the rest of us?



Cheers,



TRADERguy
 

Beach Runner

Active member
128 2
Hi TRADERguy,

How detailed a book is this? I looked at the table of contents on Amazon.com and the book seems to delve into every nook and cranny of FX (history, spot, forwards, options, swaps, futures, technical analysis, and fundamental analysis) but the book is only 196 pages. Is this an overview for beginners or does it get into something real for the rest of us?

I don't trade forex so the following is written from that perspective:

I bough the book 18 months ago (the book was published in 2003) when I was thinking of getting into the market; I didn't, but that had nothing to do with this book. It is basically an introduction for newbies to the market and although only 182 pages (in my version!) it covers a lot of ground and I think it gives fairly decent coverage.

It does not really cover 'how to trade' and I don't think that is what you are looking for. Technical analysis is covered in 10 pages; RSI, Bollinger Bands, Moving Averages, etc, covered in a single paragraph each, so anyone coming into forex who had not traded in any way on anything else IMO would need to read something else as well.

But it gives good overall coverage (obviously without going into great depth) on the history of Foreign Exchange, the role of all the players, currency swaps, options, etc, etc. And I thought (with my own limited knowledge) was a good launching ground from which to do further research. In some respects, although aimed at beginners, it is probably of more value to someone who has some experience in trading in another area, but that is just my opinion. Cornelius Luca is, I believe, a classic text.

So, from limited knowledge, to sum up: a good basic introduction that covers everything, but not for someone wanting to be held by the hand and told when to buy or sell. Anyone wanting a beginners text on TA applied to forex should look elsewhere.

This post is becoming almost as long as a book review! Perhaps someone else, who's read it, and traded in the market, will give their opinion? Anyway, hope this helps.
 
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock