Introduction :Trading in the foreign exchange currency markets has recently exceeded $2 trillion a day and this figure is expected to double within the next five years. The reason for this astonishing surge in trading popularity is quite simple: no commissions, low transaction costs, easy access to online currency markets, no middlemen, no fixed lot order sizes, high liquidity, low margin with high leverage, and limited regulations. These factors have already attracted the attention of both neophyte traders and veteran speculators in other financial markets. In this volume, special focus is given to the five most frequently traded Forex cur-rency pairs: the U.S. Dollar, the Euro currency, the British Pound, the Swiss Franc and the Japanese Yen. It is estimated that trading among these five pairs comprises 78 per-cent of all orders in the spot currency markets.
ABOUT THIS BOOK
This book was written specifically for those currency and futures traders who have a reasonable degree of experience in the foreign exchange markets and who are familiar with the inner trading mechanisms and the risks and rewards intrinsically involved. For novice currency traders, we highly recommend Getting Started in Currency Trading by the co-authors of this book (Wiley, 2005) as a comprehensive primer for entering this once exclusive arena of investing. The authors have intentionally followed the thematic precedent established in their previously published book entitled The Forex Chartist Companion (Wiley, 2007). That precedent is to make each technical analysis opus as visual and graphic as possible, re-plete with numerous charts, tables, and explanatory diagrams. Many of the innovative tools introduced in that work (FCC) are employed here, and the underlying theme is again borne out in this tome: The most lethal weapons in the successful traders' arse-nals are the diversity and creativity of their technical charts.
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