CURRENCY TRADING FOR DUMMIES.

Title Page
Copyright Page
Table of Contents
Introduction
	About This Book
	Foolish Assumptions
	Icons Used in This Book
	Beyond the Book
	Where to Go from Here
Part 1 Getting Started with Currency Trading
	Chapter 1 Currency Trading 101
		What Is Currency Trading?
			Speculating as an enterprise
			Currencies as the trading vehicle
		What Affects Currency Rates?
			Fundamentals drive the currency market
			But sometimes it’s the technicals that are driving the currency market
			Or something else may be a driving force
		Developing a Trading Plan
			Finding your trading style
			Planning the trade
		Executing the Trading Plan from Start to Finish
	Chapter 2 What Is the Forex Market?
		Getting Inside the Numbers
			Trading for spot
			Speculating in the currency market
			Getting liquid without getting soaked
		Around the World in a Trading Day
			The opening of the trading week
			Trading in the Asia-Pacific session
			Trading in the European/London session
			Trading in the North American session
			Key daily times and events
			The U.S. dollar index
		Looking at Currencies and Other Financial Markets
			Gold
			Oil
			Stocks
			Bonds
		Getting Started with a Practice Account
	Chapter 3 Who Trades Currencies? Meet the Players
		The Interbank Market Is “the Market”
			Getting inside the interbank market
			Bank to bank and beyond
		Hedgers and Financial Investors
			Hedging your bets
			Global investment flows
		Speculators: Running the Forex Show
			Hedge funds
			Day traders, big and small
		Governments and Central Banks
			Currency reserve management
			The Bank for International Settlements
			The Group of Twenty
	Chapter 4 The Mechanics of Currency Trading
		Buying and Selling Simultaneously
			Currencies come in pairs
			The long and the short of it
		Looking at Profit and Loss
			Margin balances and liquidations
			Unrealized and realized profit and loss
			Calculating profit and loss with pips
			Factoring profit and loss into margin calculations
		Understanding Rollovers and Interest Rates
			Currency is money, after all
			Value dates and trade settlement
			Market holidays and value dates
			Applying rollovers
		Checking Out Currency Prices
			Bids and offers
			Spreads
		Executing a Trade
			Trading online or on the phone
			Orders
Part 2 Data and Details You Can Use to Trade Currencies
	Chapter 5 Looking at the Big Picture
		Currencies and Interest Rates
			The future is now: Interest rate expectations
			Relative interest rates
		Monetary Policy 101
			Looking at benchmark interest rates
			Easy money, tight money
			Unconventional easing
			Watching the central bankers
			Interpreting monetary policy communications
		Official Currency Policies and Rhetoric
			Currency policy or currency stance?
			Calling the shots on currencies
			Taking a closer look at currency market intervention
			Financial stability
			Debts, deficits, and growth
			Gauging credit risk
		Geopolitical Risks and Events
			Gauging risk sentiment
			Risk on or risk off?
	Chapter 6 Cutting the Fog with Technical Analysis
		The Philosophy of Technical Analysis
			What is technical analysis?
			What technical analysis is not
			Forms of technical analysis
			Finding support and resistance
			Waiting for confirmation
		The Art of Technical Analysis
			Bar charts and candlestick charts
				Measuring markets with price bars
				Lighting the way with candlesticks
			Drawing trend lines
				Connecting the dots
				Looking for symmetry
			Recognizing chart formations
				Basic chart formations
				Candlestick patterns
			Fibonacci retracements
		The Science of Technical Analysis
			Momentum oscillators and studies
				Overbought and oversold
				Divergences between price and momentum
				Using momentum in ranges and trends
			Trend-identifying indicators
				Directional Movement Indicator system
				Moving averages
			Trading with clouds: Ichimoku charts
	Chapter 7 Getting Down and Dirty with Fundamental Data
		Finding the Data
		Economics 101 for Currency Traders: Making Sense of Economic Data
			The labor market
			The consumer
			The business sector
			The structural
		Assessing Economic Data Reports from a Trading Perspective
			Understanding and revising data history
			Getting to the core
		Market-Moving Economic Data Reports from the United States
			Labor-market reports
				U.S. monthly employment report
				ADP national employment report
				Weekly initial unemployment claims
			Consumer-level data reports
				Consumer sentiment
				Personal income and personal spending
				Retail sales
				Durable goods orders
				Housing-market indicators
			Business-level data reports
				Institute for Supply Management and Purchasing Managers Index
				Regional Federal Reserve indices
				Industrial production and capacity utilization
				The Fed’s Beige Book
			Structural data reports
				Inflation gauges
				Gross domestic product
				Trade and current account balances
				Government debt and budget deficits
		Major International Data Reports
			Eurozone
			Japan
			United Kingdom
			Canada
			Australia
			New Zealand
			China
	Chapter 8 Getting to Know the Major Currency Pairs
		The Big Dollar: EUR/USD
			Trading fundamentals of EUR/USD
			Trading behavior of EUR/USD
			Tactical trading considerations in EUR/USD
		East Meets West: USD/JPY
			Trading fundamentals of USD/JPY
			Price action behavior of USD/JPY
			Tactical trading considerations in USD/JPY
		The Other Majors: Sterling and Aussie
			The British pound: GBP/USD
			The new kid in town: Trading the Aussie
		Understanding Forex Positioning Data
			How to interpret the data
			The FX fix
			Forex and regulation
	Chapter 9 Minor Currency Pairs and Cross-Currency Trading
		Trading the Minor Pairs
			Trading fundamentals of USD/CAD
			Trading fundamentals of NZD/USD
			Tactical trading considerations in USD/CAD, AUD/USD, and NZD/USD
		Trading the Scandies: SEK, NOK, and DKK
			Swedish krona: “Stocky”
			Norwegian krone: “Nokkie”
			Danish krone: “Copey”
		Checking Out Cross-Currency Pairs
			Understanding reasons for trading the crosses
			Stretching the legs
			Trading the JPY crosses
			Trading the EUR crosses
Part 3 Executing a Trading Plan
	Chapter 10 Pulling the Trigger
		Getting into the Position
			Buying and selling at the current market
			Averaging into a position
			Trading breakouts
		Making the Trade Correctly
			Buying and selling online
			Placing your orders
	Chapter 11 Managing the Trade
		Monitoring the Market While Your Trade Is Active
			Following the market with rate alerts
			Staying alert for news and data developments
			Keeping an eye on other financial markets
		Updating Your Trade Plan as Time Marches On
			Trend lines move over time
			Impending events may require trade plan adjustments
		Updating Order Levels as Prices Progress
			Increasing take-profit targets
			Tightening stop-loss orders to protect profits
	Chapter 12 Tax Considerations
		Determining Whether You Have Trader Tax Status
		Understanding Ordinary Income, Capital Gains, and Capital Losses
			Investigating ordinary income
			Looking at long-term capital gains
			Coping with capital losses
			Evaluating scenarios of gains and losses
		Buckling Down and Paying Taxes to the IRS
			Tax notices
			Tax forms
			The softer side of the IRS: Tax deductions
		Surveying Tax Specifics for Different Types of Currency-Related Activities
			First things first: Do you use Internal Revenue Code 1256 or 988?
			Taxes on currency ETFs
			Taxes on futures and options
			Taxes on cryptocurrencies
		Taking Advantage of Tax-Advantaged Retirement Investing
			IRAs
			401(k) plans
		Seeking Some Tax Resources
Part 4 Forex Alternatives
	Chapter 13 Currency Exchange-Traded Funds
		Defining Currency ETFs
		Picking Out the Pros of Currency ETFs versus Other Currency Vehicles
			Currency ETF advantages
			Other factors when choosing currency ETFs
		Comparing U.S. Dollar Bullish and Bearish ETFs
			Feeling bullish
			Being bearish
		Examining Other Currency ETFs
			Euro ETFs
			Yen ETFs
		Choosing Currency ETFs: Hedged or Unhedged?
		Studying Some Currency ETF Resources
	Chapter 14 Currency Futures
		Defining Currency Futures
		Comparing Currency Trading and Currency Futures
		Focusing on the Fundamentals of Currency Futures Contracts
			Basics included in a futures contract
			Margin and maintenance requirements
			Common currency futures contracts
			Leverage: The double-edged sword
		Surveying Basic Futures Trading Strategies
			Going long
			Other strategies
		Reading Currency Futures Quotes
		Sizing Up E-Minis and E-Micros
			E-minis 101
			Trading with the E-micro
			Common currency E-mini and E-micro contracts
		Checking Out Futures Trading Resources and Brokers
	Chapter 15 Currency Options
		Introducing the Basics of Options
			Why consider options?
			What assets have options on them?
		Buying a Call Option for Big Gains
			Understanding how buying a call option works
			Looking at the features of a call option
			Distinguishing the “moneyness” of call options
		Writing a Call Option to Generate Income
			What if the security goes to the strike price or higher?
			What if you don’t want to sell at the strike price?
			What if the security’s price stays flat or moves sideways?
			What if the security’s price goes down?
			How often can you write a covered call?
		Using a Call Option for Safety or Hedging
		Picking Apart Put Options
			Use #1: Bearish speculation
			Use#2: Generating income
			Use#3: For hedging and protection
		Considering Some Combination Trades
			Debit spreads and credit spreads
			Diagonal and vertical calendar spreads
			The bull call spread
			The bear put spread
		Breaking Down the Mechanics of Making Options Trades
			Choosing a brokerage firm and gaining approval for options
			Placing an order
			Reading an options table
		Getting a Few Golden Rules for Options Beginners
		Trying Options Tutorials and Resources
	Chapter 16 Trading Cryptocurrencies
		Describing Cryptocurrencies
		Considering the Main Benefits and Issues of Cryptocurrencies
		It’s Your Choice: Participating in the Cryptocurrency World in Three Ways
			The greatest control: A cryptocurrency wallet
			The simplest approach: A brokerage account
			The safest approach: Business transactions
		Looking at Leading Cryptocurrencies
			Bitcoin (The mother of all cryptos)
			Ethereum
			Dogecoin
		Taking the First Steps to Buying Cryptocurrencies
			Choosing a platform or broker
			Selecting storage
		Examining Cryptocurrency ETFs
		Getting a Few Golden Rules about Cryptocurrencies
		Digging into Cryptocurrency Resources
Part 5 The Part of Tens
	Chapter 17 Ten Habits of Successful Currency Traders
		Trading with a Plan
		Anticipating Event Outcomes
		Staying Flexible
		Being Prepared for Trading
		Keeping Technically Alert
		Going with the Flow (Trading the Range)
		Focusing on a Few Pairs
		Protecting Profits
		Trading with Stop Losses
		Watching Other Markets
	Chapter 18 Ten Rules of Risk Management
		Trade with Stop-Loss Orders
		Leverage to a Minimum
		Trade with a Plan
		Stay on Top of the Market
		Look for the Right Opportunities
		Step Back from the Market
		Take Profit Regularly
		Understand Currency-Pair Selection
		Double-Check for Accuracy
		Take Money Out of Your Trading Account
	Chapter 19 Ten Great Resources for Currency Trading
		Technical Analysis of the Financial Markets
		Japanese Candlestick Charting Techniques
		Elliott Wave Principle
		Technical Analysis For Dummies
		The Book of Five Rings
		Market Wizards: Interviews with Top Traders
		FOREX.com
		Zero Hedge
		BabyPips.com
		Forex Factory
	Chapter 20 Ten (Or So) Golden Rules for Currency Trading Beginners
		Read, Read, Read
		Simulate Trading First
		Start Small
		Keep a Ceiling on Your Total Speculating
		Be Diversified
		Have a Rule on Profits (and Losses!)
		Analyze the Trade That Went Bad
		Learn from Others
		Recognize That History May Not Repeat, but It Does Rhyme
		Specialize If Possible (In Other Words, Focus!)
		Know That Successful Trading Isn’t Just What You Do but How You Do It
		Finally, Don’t Stop Educating Yourself
	Chapter 21 Ten Alternatives to Currencies
		Gold
		Silver
		Cryptocurrencies
		Common Stocks
		The “I” Bond
		Commodities
		Mutual Funds
		Country Exchange-Traded Funds
		Collectibles
		Real Estate Investment Trusts
Appendix Trading Strategies
	What’s Your Sign? Determining Your Trader Type
	Looking at Trading Strategies Based on Trader Type
		For the scalper: The Red Zone strategy
			How it works
			The Red Zone strategy in action
		For the scalper: The Opening Range Breakout strategy
			How it works
			The Opening Range Breakout strategy in action
		For the swing trader: The Favorite Fib strategy
			How it works
			The Favorite Fib strategy in action
		For the swing trader: The Moving Average Crossover strategy
			How it works
			The Moving Average Crossover strategy in action
		For the position trader: Trading the Ichimoku cloud
			How it works
			The strategy in action
Index
EULA