Beat the Forex Dealer

Agustin Silvani 지음

Wiley 2009년 08월 07일 출간

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책소개

The foreign-exchange market is often referred to as the Slaughterhouse where novice traders go to get 'chopped up'. It is one of egos and money, where millions of dollars are won and lost every day and phones are routinely thrown across hectic trading desks. This palpable excitement has led to the explosion of the retail FX market, which has unfortunately spawned a new breed of authors and gurus more than happy to provide misleading and often downright fraudulent information by promising traders riches while making forex trading 'easy'.Well I'll let you in on a little secret: there is nothing easy about trading currencies. If you don't believe me then stop by Warren Buffet's office and ask him how he could lose $850m betting on the dollar or ask George Soros why his short yen bets cost him $600m not once but twice in 1994. What's wrong with these guys, don't they read FX books?In reality, the average client's trading approach combined with the unscrupulous practices of some brokers make spot FX trading more akin to the games found on the Vegas strip than to anything seen on Wall St. The FX market is littered with the remains of day traders and genius 'systems,' and to survive in the long-run traders have to realize that they are playing a game where the cards are clearly stacked against them.Have you ever had your stop hit at a price that turned out to be the low/high for the day? Bad luck perhaps? Maybe. What if it happens more than once? Do you ever feel like the market is out to get you? Well guess what, in this Zero Sum game it absolutely is.Covering the day-to-day mechanics of the FX market and the unsavoury dealings going on, Beat the Forex Dealer offers traders the market-proven trading techniques needed to side-step dealer traps and develop winning trading methods. Learn from an industry insider the truth behind dirty dealer practices including: stop-hunting, price shading, trading against clients and 'no dealing desk' realiti

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Acknowledgments.Introduction.PART I THROUGH THE EYES OF A TRADER.1 On Markets.2 The Currency Market.3 A Rare Breed.4 FX Dealers.5 Todaya??s FX Market.6 The Players.PART II THE RETAIL SIDE OF THINGS.7 Card Stacking.8 Dona??t Trust Your FCM.9 Third-Party Services.10 Fighting Back.PART III JOINING THE 10%.11 Becoming a Great Trader.12 Picking the Right Approach.PART IV FX TRADING TIPS.13 Adapting to the FX Market.14 Trading Thin Markets.15 Using the Crosses.16 All About Stops.17 Characteristics of FX Trends.18 Trading the FED.19 Fading News.20 FX Analysts: Who Cares?PART V DEALER TRADES.21 Trading Against Dealers.22 The Big Figure Trade.23 The Friday to Sunday Extension.24 Sticking it to Your Dealer.PART VI THE FUTURE.25 The End of the Beginning.APPENDIX TRADING a??HOW TOa??Sa??.How to Set Up Your Trading.How to Trade Price Action.How to Build a Position.How to Trade Out of a Losing Position.NOTES.A Speaking Like a Dealer.FX Glossary.Trading Maxims.Bibliography.CFTC Minimum Finance Requirement.Index.

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저자(글) Agustin Silvani

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One of the pioneers in foreign-exchange trading, Agustin Silvani developed one of the first retail-oriented currency programs and currently leads the team of professionals at MIGFX Inc, consistently rated among the top-ten currency traders as ranked by Barron's, Futures, and Currency Trader Magazine. Mr Silvani's experience in FX ranges from the interbank to the retail sector, helping manage portfolios ranging from $1 million to more than $10 billion in size, and is a regular contributor to the financial press.