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Day Trading the Currency Market by Kathy Lien [Book Summary]

Summary:
Day Trading the Currency Market by Kathy Lien Preface The objective of this book is to explain FX fundamentals and provide actionable trading strategies. 1) Foreign Exchange: The Fastest-Growing Market of Our Time The basic operation of the foreign exchange market is explained along with its trading advantages. 2) Historical Events in the FX Market The creation of today's FX market happened over time through a series of international agreements. 3) What Moves the Currency Market in the Long Term? A currency's price responds to the country's economic conditions. Seven economic models are described which attempt to explain the strength or weakness of a currency, 4) What Moves the Currency Market in the Short Term? Short-term currency prices are affected by the news and

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Day Trading the Currency Market by Kathy Lien





Preface



The objective of this book is to explain FX fundamentals and provide actionable trading strategies.





1) Foreign Exchange: The Fastest-Growing Market of Our Time



The basic operation of the foreign exchange market is explained along with its trading advantages.





2) Historical Events in the FX Market



The creation of today's FX market happened over time through a series of international agreements.





3) What Moves the Currency Market in the Long Term?



A currency's price responds to the country's economic conditions. Seven economic models are described which attempt to explain the strength or weakness of a currency,





4) What Moves the Currency Market in the Short Term?



Short-term currency prices are affected by the news and especially government reports. A simple way is explained on how to monitor the effect these reports can have.





5) What Are the Best Times to Trade for Individual Currency Pairs?



This chapter covers the times and trading characteristics of the Asian, European, and U.S. trading sessions.





6) What Are Currency Correlations and How Do Traders Use Them?



Correlation is explained and a method is shown for monitoring currency correlations in a spreadsheet.





7) Trade Parameters for Different Market Conditions



Keeping good records is essential for effective trading. Lien offers a trading journal model to record trades from the reason to take them to their outcome.





8) Technical Trading Strategies



Seven technical strategies are given for buying and shorting currencies.





9) Fundamental Trading Strategies



Seven fundamental trades are explained.





10) Profiles and Unique Characteristics of Major Currency Pairs



This chapter covers fundamental economic factors for the U.S. dollar, euro, British pound, Swiss franc, Japanese yen, Australian dollar, New Zealand dollar, and the Canadian dollar.
Kathy Lien
Kathy Lien is an Internationally Published Author and Managing Director of BK Asset Management. Her trading books include the following: 1) For beginners, “The Little Book of Currency Trading (2010, Wiley).” 2) THIRD edition of the highly acclaimed, internationally published “Day Trading and Swing Trading the Currency Market: Technical and Fundamental Strategies to Profit form Market Swings (2015, Wiley).” 3) Millionaire Traders: How Everyday People Are Beating Wall Street at Its Own Game (2007, Wiley) 4) High Probability Trading Setups for the Currency Market E-Book (2006, Investopedia)

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