Forex Revolution: An Insider's Guide to the Real World of Foreign Exchange
Trading
"For many investors, an intense, 24-hour-a-day, $1.5 trillion roller-coaster of a
market spells "danger"; for readers of Forex Revolution, the word
is "opportunity."
Michael J. Panzner, vice president, Rabo Securities USA, Inc., and author of The New
Laws of the Stock Market Jungle
"The author possesses an uncommon ability to describe a difficult and rapidly
changing marketplace as if seen through a beginner's eyes. A most useful book for anyone
that might not have been paying attention these past five years as the market reinvented
itself."
Brentin C. Elam, director, Northcoast Asset Management, LLC
Foreign currency exchange - "Forex" - Nis today's no.1 new investment
opportunity. Revolutions in technology, regulation, and globalization have made Forex
trading accessible to every active investor. Only one thing has been missing: An
objective, clear "user's guide" to Forex trading. Now it's here - and it's in
your hands.
Simply and clearly, Forex Revolution reveals everything you need to know
to trade Forex hands-on - from fundamental and technical trading strategies to the
unyielding discipline that's essential to success.
In this book, Peter Rosenstreich brings together insider techniques from all over the
industry: Traders, banks, Forex firms, even the National Futures Association. You'll find
expert guidance on everything from handling 24/7 markets to profiting from the emergence
of China.
Unlike other books, Forex Revolution doesn't require you to subscribe to
costly services or purchase expensive tools. Whether you're an individual investor or a
money manager new to Forex, this book gives you all you need: Facts, techniques, resources
and - above all - the insider's edge.
- Why Forex has become your no. 1 profit opportunity
How the currency markets became indispensable to the active investor
- Meet the players, markets, tools, portals, and platforms
Everything you should know before you get started
- Choose the right FX investments
Understand currency futures, options, swaps, and more
- Master both fundamental and technical trading strategies
and discover why you need to know both
- Gut check: What it takes to win in the Forex markets
Develop the discipline you need to succeed
Foreign Exchange Trading: Today's no.1 Opportunity for Explosive Profits!
- The practical, hands-on Forex trading guide for individual investors
- No costly subscriptions or expensive tools needed
- Delivers unbiased, up-to-the-minute techniques you can start profiting from today
- Covers everything from trading rules to fundamental and technical strategies
- Realistically assesses risks and pitfalls - and shows how to avoid or mitigate them
Forex Isn't Just the World's Biggest Market - It's Your no. 1 Profit Opportunity!
Every day, more than $1.5 trillion in currency trades are executed. That dwarfs
the daily volume of the NYSE, NASDAQ, FTSE, DAX, and Tokyo Nikkei - combined!
Today's growing currency volatility has made Forex the place to earn huge profits. Think
Forex is just for secretive financiers and central bankers? Not any more! The rules have
changed, and this book shows you exactly how to get in on the action.
No other book offers as much unbiased, practical, how-to guidance for trading from
Forex. Peter Rosenstreich doesn't just present his own techniques - he reveals
never-before-published tips and techniques from traders throughout the industry. Above
all, Mr. Rosenstreich tells you the whole truth: How currency markets work, how to
trade, what the risks are, what to do about them... and what it really takes to win.
Peter Rosenstreich is a principle and foreign exchange trader for Rose
Stevons & Company, a boutique New York alternative investment firm specializing in
providing retail clients with innovative, structured products. Rosenstreich has extensive
experience in the retail Forex sector. He is licensed with a series 3, 7, and 63, and is
registered with the NASD and National Futures Association as a Commodity Trading Advisor
(CTA). Mr. Rosenstreich holds a BA in History from Clark University and an MBA from the
City University of New York, Zicklin School of Business.
Table of Contents
1. The Truly Modern Market
A Market for the 21st Century
Opportunity Is Knocking
Everybody's Talking About It
Endnotes
2. The Currency of Trading in Everyday Life
A Fact of Life
Keeping Up with the Rates
The Sun Never Sets on Forex
Noodles in the Morning
Laos for Lunch
Odessa at Dusk
Back in a 9-to-5 Market
3. The History of Forex (and Why You Should Care)
The Beautiful Market
Lessons of History
The Roots of Modern Currency
The Clash Between Governments and Markets
Trends That Rocked the Forex World
The Rise and Fall of the Modern Gold Standard
The Rise of the Euro
The Internet Trade Revolution: Banks Hated It, Speculators Loved It,
and the Market Demanded It
Seeing the World Through Forex
Endnotes
4. The Basics of Foreign Exchange
Spot
Quotes
Majors
Cross Rates
Pips
Bid/Ask
Lot
Mini Lot
Basic Tools of Training
Positions
Market Order
Limit Order
Stop Order
Order Cancels Other
Stop-Limit Order
Rollovers
Interest Rate Differentials, or Rollover Charge
Leverage
Controlling Leverage
Initial Margin
Margin Call
Commissions
Graphic: Calculations for the Spot Market
Forex Regulators
SFBC
IDAC
SFC
FSA
ASIC
CFTC and NFA
NFA
Forex Designations
Forex Dealer Members
Futures Commission Merchants
Introductory Brokers
Commodity Trading Advisers
Brokers
Managed Accounts
5. Forex Trading Vehicles
Forwards and Futures
Options
Swaps
Derivatives and the Forex Market
The Interbank Market
Endnotes
6. Tools and Strategies to Get Started
Gut Check: What It Takes to Be a Forex Investor
What Are My Investment Goals, and Are They Realistic?
What Is My Capacity for Risk?
Time Investment
Before You Trade
Doing a Test Run
Strategy: Creating an Approach Model
7. Forex from the Inside
8. Inside a Forex Platform
Searching for the Right Platform
Doing Your Homework
Retail Platforms
Trading Mechanisms
Hub and Spoke Trading
Request for Quote (RFQ)
Click and Deal
News
Charts
Research
Things to Look Out For
Requotes
Network Connection
Getting the Best Price
Safety
My Trading Room
Information Sources
Important Numbers
Forex Retail Platforms
Protecting Yourself
Avoiding Fraud
The Firm Promises a Free Lunch
The Trader Uses Terminology You Don't Fully - Understand
The Firm Claims To Trade in the "Interbank Market"
The Firm is Using the Hard Sell via the Internet
The Firm is Vague and Little Information is Available
9. Trading Inside the 24-Hour Storm
Working Around the Clock
Defining Your Trading Strategy
Contingency Plans
Cut Losers
Pigs Get Slaughtered
Overleveraging and Overtrading
Watch the Markets
Don't Walk Away
Review the Market
Market Manipulation
Just Because You're Not Paranoid Doesn't Mean They Aren't Out to Get
You
Flatline Your Emotions
Trade with Your Personality
Filter Information
Avoid Bias
10. What Moves the Markets: Basic Fundamental and Technical Trading Strategies
Watch Your Fundamentals
Old Versus Fresh News
Market Movers
Governments
Important Currencies
The U.S. Dollar
The Euro
The Yen
The British Pound
The Swiss Franc
Other Currencies
The Yuan
The Won
The Real
The Rand
The G7
Central Banks
The U.S. Federal Reserve
The European Central Bank
The Bank of England
The Bank of Japan
The International Monetary Fund
Private Financial Institutions
Corporations
Speculators
Monetary Policy and Interest Rates
Inflation
Gross Domestic Product
(Un)Employment
The Beige Book
Government Spending and Taxes
Government Attitude
Equilibrium: "Parity"
Trade Balance
Political and Social Environment
Currency Board or Peg
Subjectivity
Technical Analysis
Determing the Trend
Support and Resistance
Chart Patterns
Fibonacci Pattern
Elliot Wave Theory
Gann Angles
Andrews Pitchfork
Indicators 101
Moving Average
Moving Average Convergence/Divergence (MACD)
Relative Strength Index (RSI)
Stochastic Oscillator
Bollinger Bands (BB)
Parabolic Stop and Reversal (SAR)
Average Directional Index (ADX)
Starter Technical Model
Scalping
Technical or Fundamental?
Endnotes
11. Black Swans and Rogue Traders
The Inherent Instability in the Forex Market
The Tequila Crisis
The Asian Crisis
Breaking the Bank of England
Interventions
Scams and Rogue Traders
Russia Devalues the Ruble
12. Trends and the Yuan
Forex Will Not Just Get Bigger; It Will Get More Respect
Globalization and the War on Terror
The Chinese Dragon and the Indian Tiger
ASEAN
The Euro: Can It Hold?
The Growth of Free-Trade Blocks
The U.S. Dollar
Endnotes
Appendix
Index
Hardback, 277 pages
