Author Peter Rosenstreich’s short, concise guide is a neophyte’s introduction to the world of foreign exchange trading. Its chief virtue is that it warns against trading if you don’t have a strategy and some level of technology. Its chief vice is the suggestion that it is realistic for individual investors to expect to make money in the foreign exchange markets. The author cautions against the risks of the market (and gives good advice on spotting the most egregious frauds), but even to suggest that an individual retail trader equipped with an Internet connection, a news feed, a research source and a charting service can hope to succeed in Forex investing is a bit misleading. Perhaps, it would have been more enlightening if the author had discussed the competition that confronts the potentially foolhardy neophyte, in terms of equipment, technology and expertise. That said, readers will gain an elementary - but not really an insider’s - acquaintance with the ABCs of the Forex markets and will learn the names of key agencies and approaches. getAbstract.com finds that the book’s most useful attributes include references to further reading that should deter novices from attempting to trade their own money in the foreign exchange markets. For solid basics, read on - but zip your wallet.
In this summary, you will learn
- What you need to know on a basic level to even begin considering trading in foreign currency; and
- What some commonly used foreign exchange terms mean.
About the Author
Peter Rosenstreich is a principle and foreign exchange trader with the New York investment firm Rose Stevons & Company. He is registered with the National Futures Association (NFA) as a Commodity Trading Advisor (CTA).