New to forex trading

Hi I'm new to forex trading and was wondering if I could get a little help on this forum. I'm familar with futures and stock trading but not forex, is it similar? Do you pair two currencies? Are you usually pairing another currency against the dollar?

Can anyone recommend a good ebook for me to read?

Hello,

First of all, since this is your first post, I would like to welcome you to FF.

Anyway, I think forex is not similar to either equity or futures. Forex is a 24-hour market. It tends to move very quickly during economic announcements (or we call it high volatilities) and typically offer higher leverage.

In Forex, we always trade in pairs, but the pair is not always against USD. For instance, we have EUR/JPY, GBP/JPY, GBP/CHF, etc. These pairs are called "exotic pairs". And the pairs that are against USD usually are the major pairs (not always). For instance, there are GBP/USD, EUR/USD, USD/JPY, etc.

I can't recommend e-books since I'm not sure if it's useful for my trading approach. However, if you want a simple pivot trading strategy e-book, I can give it to you for free. Just PM me and I'll send it to you.

Hope this answer your questions,

- SkYliNe -

Try these books and you'll get everything you need to know about forex. I don't know the exact titles but I'l just give you teh name of the authors that I have read from. Then you can search it at your library or online stores.


Michael Archer
Kathy Lien
Boris Schlossberg
Steve Nison

Hi erock and welcome to Forex Factory.

Read all the posts in the four sticky threads in the Beginner's Forum.

Read Kathy Lien's "Day Trading the Currency Markets" for a good overview of the forex market and how it works.

Also Kathy LIen and Boris Schlossberg have a new ebook at www.bktraderfx.com. It is not free, but it is worth the money.



Dial

forex87 you might want to read the forum rules before smjones or wizard catches you with a link to your website. Thats if you don't want banned.

Hi Labrat, He did have a link in his signature. I managed to PM him to remove it before smjones or the Wizard saw it .

Best regards
Alan

I am new to fortex trading and have just discovered this site - dont know where to start - Does anyone know where I can get the mouteki method - Cannot seem to fin it anywhere

http://www.forexfactory.com/forexfor...splay.php?f=75

cheers

I just ordered 3 of these four books. Anything else people could recommend. I'm trying to be a sponge right now.

These are must haves IMHO:

Market Wizards by Jack Schwager

New Market Wizards by Jack Schwager

Reminiscenses of a Stock Operator by Edwin LeFevre

Trading in the Zone by Mark Douglas

Each of these books is worth their weight in gold.

Dial