just got a copy of "day trading the currency market" by kathy lien. excellent to put it mildly. by far the best non academic book ever on the FX market. KUDOS to kathy, nicely done! enjoy, surfer
http://www.wiley.com/WileyCDA/WileyTitle/productCd-0471717533.html http://www.amazon.com/gp/product/04...102-8865177-3942539?n=507846&s=books&v=glance
surfer, Thanks for the heads-up. I've been looking for a while for a good book that was FX specific; one that addressed fundamentals w/o requiring one to become an economist, as well as the technical aspects that are unique to FX, such as correlations of the pairs, the international trading sessions and how they effect each other, the individual profiles of the characteristics of each pair, and intermarket relationships such as interest rates and commodities relative to FX. Judging by the table of contents, this looks promising. Ordered it this a.m. I had tried the book by Abe Cofnas (of Futures mag) for $80, it was a big disappointment, too little and too much obvious info for too high a price (and which I promply returned). Hope this one is better, we'll see. Harold
Surf, Will do. Here, to you or anyone interested, are my thoughts on the Cofnas book, which shoulda/coulda been so much more: http://tinyurl.com/7m4cw Harold
I hope she mentions in her book that daytrading currencies is best done in the futures market. The spread or spread + commis most forex brokers charge for a scalper friendly platform doesn't compare to futures. Knowing she is w/ FXCM I wonder if she would dare mention scalping currency futures in her book. I don't know why anyone would bother w/ the cash market until the effective spread + commis is comparable to futures.
I think it's because you need only $250.00 to open a retail Forex account. Isn't minimum account size for futures a lot higher?
Yes, that is a big factor. I can only imagine the money FXCM and some of the other forex companies make off newbies trying to daytrade forex.