The first plain-English introduction to foreign currency exchange trading--one of today's hottest profit opportunities

The foreign currency market is the largest financial market in the world, and foreign exchange trading is quickly becoming one of today's most high-profile, potentially lucrative markets. One problem is that books on the topic are complex, technically dense, and difficult for Forex novices to grasp.

FOREX Made Easyis the first book to approach the topic in a detailed yet accessible style, gradually and deliberately moving from simple to complex in easy and natural language. Author James Dicks--founder of the popular trading software 4X Made Easy--draws upon his trading knowledge to give readers only the information they need, from setting up a workstation to trading electronically.

This Forex guidebook provides traders with:

• An easy-to-follow, six-step process for FOREX trading
• Methods for gaining an advantage using technical analysis
• Dozens of examples to illustrate key points

Preface xiii

Acknowledgments xv

1 What Is the FOREX? 1

Introduction 1

FOREX Defined 12

A Brief History of the FOREX 13

Free-Floating FOREX Market 13

Major FOREX Participants 14

2 More FOREX 15

Currency Pairs 15

Recommended Currency Pairs 16

Why Trade the FOREX 19

Volume in the FOREX 19

Analyzing the FOREX 23

How Profits Are Made 23

The FOREX as a Two-Way Market 25

3 Forecasting the Market 29

Fundamental Analysis 29

Technical Analysis 32

Fundamental versus Technical Analysis 33

4 Currency Options 35

Currency Options Introduction 35

Options Pricing 36

Advantages of Trading Options 37

European and American Options 37

Exotic Options 38

Lock in Profits 40

Accelerate Your Profits 41

5 Creating a Workstal#)