FT Guide to Foreign Exchange Trading [Paperback]by Stuart Fieldhouse
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Description of FT Guide to Foreign Exchange TradingAn introduction to the fast growing $1.5 billion foreign exchange trading marketplace, showing you how the markets work, how to trade them successfully and how to mitigate risk. The Financial Times Guide to Foreign Exchange Tradingis the authoritative primer, the first port of call for anyone interested in foreign exchange trading and wants to know what it is all about before taking the plunge.
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About Stuart FieldhouseStuart Fieldhouse is an experienced financial journalist, having spent many years at the FT Group. He has also worked with the product development team at CMC Markets, one of the leading financial spread betting companies, working on the dealing floor, as well as with the global head of trading, matching new markets to spread betting products. He has also worked very closely with hedge funds over the years and has experience of writing for both the retail and professional market.
Contents of FT Guide to Foreign Exchange TradingIntroduction * How do FX markets work?* Why is FX so important?* Why trade foreign exchange? Ch1: Foreign exchange markets * How are currencies priced?* The role of central banks* Who's who in central banking* FX and macroeconomics Ch2: Financial indicators: FX signposts * Interest rates* Government statistics* Inflation* Borrowing* Other indicators (e.g. non-farm pay-rolls) Ch3: The currency majors * US dollar* Japanese yen* Euro* Sterling* Swiss franc* Australian dollar* Canadian dollar Ch4: The best of the rest * Non-euro European currencies (Norway, Denmark, Turkish lira, etc)* Asia Pacific currencies (Hong Kong dollar, New Zealand dollar, etc)* Developing market currencies (South African rand, Brazilian real)* Getting exposure to hard-to-trade currencies (Chinese yuan, Russian rouble, etc) Ch5: Opening your trading account * Spread betting* CFDs* Forex lots* Futures and options* Exchange-traded currencies* Currency funds* Choosing an FX broker* How to avoid being scammed* Regulation of FX broking Ch6: Margin trading and risk management * Trading on margin - why you need it* Managing your cash* Margin calls* Risk management tools* How to manage margin Ch7: Charting FX markets * Charting and the cult of technical analysis* Why do I need charts?* Popular charts for FX markets* Buying a charting package Ch8: Developing a trading strategy * Day trading* Choosing the right market* Bullion trades* FX hedging of physical share trades* Trading versus investing* Financial outlay: tools of the trade Ch9: Systematic trading * What is program trading?* The pros and cons* Choosing a program - what to look for* Designing your own FX trading progam Appendices * Major retail FX brokers around the world* Most popular FX trading engines for the retail investors* Useful books and websites* Behind the numbers: an FX trader's calendar* FX jargon buster