I'm looking for a good book that can kind of tie all of these elements together (in a simple manner of course). Ideally the book would give a brief explanation as to why the dollar reacts this way then so-and-so happens and why X affects wheat futures and what's exposed to what. Obviously there can be thick, detailed, in-depth books written for each of these individual topics - but I'm looking for something that is simple and just begins to cover the basics. Thanks in advance to anyone that takes the time to help me out with any suggestions! CuriouzT
these days 'currency trading' is mostly identified with fx trading, and so far as prices are concerned, there's little difference between say the eurusd and 6E Euro FX and similarly other pairs/futures contracts there are differences between trading currencies via a futures vs fx account - larger margin amounts for futures and the risk of 'overloss' are the major differences and of course that futures trade in an exchange, fx is 'with your broker' don't rely on a single book; visit your library 'The Complete Idiot's Guide to Foreign Currency Trading' by Lita Epstein http://www.amazon.com/Complete-Idio...dp_top_cm_cr_acr_txt?ie=UTF8&showViewpoints=1 'Currency Trading For Dummies' by Mark Galant http://www.amazon.com/Currency-Trad...dp_top_cm_cr_acr_txt?ie=UTF8&showViewpoints=1 'Forex [and other] Books' list by fxstreet http://www.fxstreet.com/education/forex-books/books/
There is a book by John Murphy: Intermarket Analysis: Profiting from Global Market Relationships http://www.amazon.com/Intermarket-Analysis-Profiting-Relationships-Trading/dp/0471023299 I have not read this book. Years ago I attended a talk by John Murphy about analyzing different markets and I thought it makes a lot of sense. Here is a quote from some reader's review on his book:
I have Murphy's intermarket book. Was interesting, but very monotone in the theme being conveyed... You might considering reading the futures game. It won't give you macro trades to follow, but its a very good hedging and futures book: http://www.amazon.com/Futures-Game-Who-Wins-Loses/dp/0070647577 If you only want to pick up on the logic/philosophy of macro trading and how financially rewarding it is for some participants, consider buying Drobny's recent "The Invisible Hands" or "Inside the house of money" http://www.amazon.com/Invisible-Han...=sr_1_2?s=books&ie=UTF8&qid=1288829231&sr=1-2
The CRB commodity yearbook is a decent starting point, as is the Book by MRCI. The thing about the type of relationships you mention is that they change over time depending on the current situation and, "what traders are looking at".
Laidi's book is a good read: http://www.amazon.com/Currency-Trad...tle_1_h?s=books&ie=UTF8&qid=1288836122&sr=1-1