The spread is your cost of doing business. For you to make any profit, you must first make up the spread.

Review As the title indicates, this book is oriented toward giving beginners the basics. Brown authored a number of forex market books that range from introductory level material to more advanced titles focused on complex trading and market dynamics. Forex Trading is the first book in a multi book series and is targeted to new investors interested in trading the forex market. New traders will benefit from the information in the book as well as bonus access to Jim's Facebook group and one of his Trading Systems.

Readers appreciated the short, concise and practical advice provided in the book. If you are interested in trading the forex market and want practical, actionable advice, Brown's book delivers.

You will get a full picture of the technical analysis, fundamental analysis, and trading psychology required to be a successful trader. The author gives you just enough information to get you excited about trading as well as the necessary tools to make your first trades. You'll know pretty quickly if you have the stomach for trading the forex market and if so, the author gives you a roadmap to navigate more advanced trading topics in his next books which we discuss below.

In this book, Jim explains the basics of the Forex market in simple terms. This book is highly rated and great for new Forex traders. ​Jim also goes over his simple, profitable trading strategy in this book as well. This trading system doesn't require any paid or proprietary indicators. Everything you need to trade this system is already included in your Forex trading platform.

If you are approaching Forex trading as a beginner, and would like to have a Forex strategy book that covers the basics in a very clear manner, go and grab it now! Brief content visible, double tap to read full content. Full content visible, double tap to read brief content. Help others learn more about this product by uploading a video! About the author Follow authors to get new release updates, plus improved recommendations. Patience, courage and discipline Read more Read less.

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Please try again later. Short and to the point! Verified Purchase. Very good book! Not repetitive like most other trading books! I will definitely be reading some of Jim’s other books. and much more. As someone who has spent years developing stock trading systems, I highly recommend Jim Brown's introduction to currency trading. From sad experience, I know that 80 to 90 percent of the books on trading systems are a waste of time. They present cherry-picked examples of great trades to dazzle the reader and build up a false sense of confidence in the system.

When you try to use these types of books in real trading, you lose money fast without a clue of how to fix the situation. This book is is not one of those dead ends. It explains how forex trading works in clear, simple terms. It teaches the basics that are part of any solid trading system finding a trading style that fits you as a person, selecting the right instruments to trade, finding good entry and exit points, managing risk, position sizing, and above all, approaching every trade with the right psychology.

Winning at the trading game is all about mastering these fundamentals; the author does a good job of introducing readers to those fundamentals and showing why they are important. There is much more to this book than the information between the front and back cover. At the end of the book, Jim Brown invites readers to join his FaceBook group and download a forex trading system that he himself uses. I joined the group and found a wealth of information from the author as well as a trading community that has sprung up around him.

I also downloaded the trading system and found it to be a solid approach to profiting. The best systems tend to be both simple and elegant, and this system checks the box on both qualities. If forex trading interests you, make this the first book you read. It is an excellent introduction to the craft by an honest and generous professional. Don't buy this Just use Google and YouTube, even the author suggests it!

Let's be honest. This is a basic, easy to read, beginner's book into the FOREX market and what it entails. It gives you the fundamentals of what a pip is for different currency pairs, how to trade, what a limit order is, what is a stop loss, risk:reward ratios, etc.

which are VERY basic things you could probably learn for completely free on YouTube, doing a Google search or getting a book for free at your local library In fact, this is what I do now since I realized this is what most of these books are going to give you.

The book does have "The Basics" in the title so it is definitely not misleading by any measure, but that's all it is; the very minimum basics. In fact, he more often than not finishes paragraphs with phrases like "but you have to figure out what works for you. Maybe I had too high expectations for the book, but the positives are: you learn the basics in very easy to understand terms; it's like a more concise version of a "Currency trading for Dummies" type of book.

The truth is, no book will help you FOREX trade because everyone does it differently. The one HUGE positive for the book is that Mr. Brown suggests you have to experiment with small lots, something I believe to be absolutely true.

That way you get some skin in the game, but don't risk too much money you can't afford to lose. Overall, this is a decent book for a beginners, but nothing more.

Since I can't get a refund, my advice would be: save your money and go to YouTube, Google and the library Hell, even Brown suggests you use Google! Multiple times! to get the basics and you should probably learn more about chart reading than anything else. That's the real trick to FOREX, chart reading.

I would steer clear away from this book and save my money. That is ridiculously high for a book of this caliber. As a stock day trader I wanted to expand to other financial areas so I bought a few books on ForEx. This one, as the subtitle implies, explains how ForEx works. The author doesn't talk down to you like you are a child but as a trader. It's helpful to have traded stocks before as he does use that terminology but isn't really needed and he does explain what he is talking about.

There are no systems or how-to guides to trade. he has 2 other books for that. Here, it's just what is ForEx and how does it work. Summary Jim's 3 FOREX books are consistently ranked BEST SELLERS and there is a very good reason for this. Chapter List 21 chapters : Chapter 1: Forex Trading - The Basics Explained in Simple Terms Chapter 2: 1 Welcome to the World of Forex Trading Chapter 3: 2 What Do We Trade in the Forex Market?

Chapter 4: 3 How Do You Actually Trade Forex? Chapter 5: 4 Fundamental or Technical Analysis? Your review Optional. lister 5 stars 4 stars 3 stars 2 stars 1 star. I enjoyed the simple language, especially given that I'm a newbie in this space. If you want to learn basic in FOREX Trading and want to earn money quickly, then you must read this book.

This is not a master book in forex but better than any book available in the market. You must try. The forex market is the most important market in the world, more important than the stock market.

The biggest stock market in the world is the New York Stock Market and the size of the forex market is 25 times larger than that. Remember, the value of the dollar or the euro is not determined by the government of any country. The value of the currencies of different countries varies according to the economic conditions and financial events of different countries.

Dollars or euros will be bought and sold in all countries of the world at the same price at which you buy dollars or euros. Large leverage or loan facilities are available for trading in Forex market, and so you can make good profits by making relatively small movements in the market. Scalping is a very popular term in Forex. It refers to an open trade for a very short time. Many people open a trade for 10 or 15 seconds and exit the trade with a profit.

The Forex Market is open 24 hours a day, 5 days a week , Monday to Friday. You can trade at any time in the Forex market, whether you are a trader or an employee. You can trade Forex at home.

Thus you can give a lot of time to your family. But for that very reason, you need to dig deeper regarding successful forex strategies. If you can trade well, many will deposit with you, and if you manage their trade, you can get a part of their profit.

A successful and efficient Forex trader can make a lot of money. It is possible to earn money from Forex trading without knowing anything. But to survive in the long run, you need to become an expert in the Forex market. In other words, there is no such thing as a recession in the forex market. Because in the stock market you can only buy, but in the forex market you can also sell.

The Fun fact is that, When stock market is going down and down, in forex, one currency is always up!

This exceptional liquidity ensures reliable pricing even at high volumes and enables the tightest possible dealing spreads. When you trade forex your trading costs are comparatively low, and you can easily go long or short of any currency. The aim of forex trading is simple. Just like any other form of speculation, you want to buy a currency at one price and sell it at higher price or sell a currency at one price and buy it at a lower price in order to make a profit.

Some confusion can arise as the price of one currency is always, of course, determined in another currency. For instance, the price of one British pound could be measured as, say, two US dollars, if the exchange rate between GBP and USD is 2 exactly. In forex trading terms this value for the British pound would be represented as a price of 2.

Currencies are grouped into pairs to show the exchange rate between the two currencies; in other words, the price of the first currency in the second currency. As these currencies are not so frequently traded the market is less liquid and so the trading spread may be wider. Like any other trading price, the spread for a forex pair consists of a bid price at which you can sell the lower end of the spread and an offer price at which you can buy the higher end of the spread.

It is important to note, however, for each forex pair, which way round you are trading. When buying, the spread always reflects the price for buying the first currency of the forex pair with the second. So an offer price of 1.

When selling, the spread gives you the price for selling the first currency for the second. So a bid price of 1. Take another example. If you think the price of the euro is going to rise against the pound you would buy euros at the offer price of 0. Your profit on this transaction is £ minus the original cost of buying the euros £ which is £ Note that your profit is always determined in the second currency of the forex pair. The cost of buying back the euros is £ less than you originally sold the euros for, so this is your profit on the transaction.

Again your profit is determined in the second currency of the forex pair. As forex is traded on exchanges across the globe, from Tokyo to London to New York, you can take a position 24 hours a day throughout the trading week. Currency values are extremely sensitive to macroeconomic forces, so there are always trading opportunities.

Intertrader provides two different vehicles for trading forex: spread betting and CFDs. Both of these products allow you to speculate on the movements of currency markets without making a physical trade, but they operate in slightly different ways.

With spread betting you stake a certain amount in your account currency per pip movement in the price of the forex pair.

Forex traders have been using spread betting to capitalise on short-term movements for many years now. Find out more about spread betting. With CFDs you buy or sell contracts representing a given size of trade. Your profit or loss is calculated in the second currency, in this case US dollars, and then converted if necessary into your account currency.

Find out more about CFDs. Instead you put down a margin deposit, which is a fraction of the full value. Your profit or loss is realised when you close your position by selling or buying. You should always keep in mind, however, that while your margin deposit only represents a proportion of the full contract value, this form of leveraged trading can lead to rapid losses and you can lose more than your initial deposit. Please ensure you understand the risks involved.

With the Intertrader custom MT5 web and desktop platforms, or the MT5 mobile apps, you can also trade a huge range of equities, indices, commodities and more on the same account. Spread betting and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money. This firm has no connection to Intertrader whatsoever. For more information please see the relevant notes from our regulators, the GFSC and the FCA.

Intertrader's website, services and products are intended for use by or distribution to persons in any country or jurisdiction where such use or distribution is permitted under applicable law or regulation.

Intertrader is a trading name of Alvar Financial Services Limited. Alvar Financial Services Limited is authorised and regulated by the Gibraltar Financial Services Commission, ref FSCMIF, and is subject to limited regulation with the Financial Conduct Authority in the United Kingdom, ref Registered address: Europort, Gibraltar, GX11 1AA. FOREX FOR BEGINNERS — WHY TRADE FOREX? Forex explained The aim of forex trading is simple. Forex trading spread Like any other trading price, the spread for a forex pair consists of a bid price at which you can sell the lower end of the spread and an offer price at which you can buy the higher end of the spread.

Calculating your profit Take another example. Why trade forex? com Customer care: Monday to Friday 24 hours a day. Why spread betting? Why trading CFDs?

When there is more supply than demand, the value of the currency decreases. Fintech News Why do foreigners choose new real estate developments in Spain? Technology Tips for Choosing the Best Cisco Distributor for Your Catalyst Needs The Cisco Catalyst Series Switches are next-generation enterprise-class core and aggregation layer switches During this time, he has developed and shared many trading systems for free, and assisted many new traders through various blogs and forum participation. Due to the massive quantity of cash exchanged daily, some price fluctuations can be very unpredictable.

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