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The Inside the Currency Market: Mechanics, Valuation and Strategies (Bloomberg Financial) Hardcover – 10 Nov 2011


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Product details

  • Hardcover: 318 pages
  • Publisher: John Wiley & Sons; 1 edition (10 Nov. 2011)
  • Language: English
  • ISBN-10: 047095275X
  • ISBN-13: 978-0470952757
  • Product Dimensions: 16.3 x 3 x 23.6 cm
  • Average Customer Review: 4.7 out of 5 stars  See all reviews (3 customer reviews)
  • Amazon Bestsellers Rank: 682,274 in Books (See Top 100 in Books)
  • See Complete Table of Contents

More About the Author


Hi,

I'm Brian Twomey,author of Inside the Currency Market,a John Wiley and Bloomberg Press publication. I'm a long time adjunct college professor of Political Science with undergraduate degrees in Journalism and Political Science and graduate degrees in Public Administration and Political Science from Seminole Community College and the University of Central Florida.
My current article count is about 60, all currency market,trading related. I'm a serious student of the markets both from a theoretical and practical perspective, practical due to my eight years as a currency trader. My passions throughout my years is the study of politics, the markets and business/finance related topics.
Inside the Currency Market is aptly subtitled Mechanics, Valuation and Strategies, a trading book for traders to learn, to grow and understand the daily pursuit of profits in the markets especially the currency markets.
I can be found for questions, comments or concerns at btwomey.com and/or insidethecurrencymarket.com. Here reviews can be found.

Product Description

From the Inside Flap

About $2 trillion are exchanged every day in the global currency markets about 60 times the volume of trading on the New York Stock Exchange with the most active trading occurring between the U.S. dollar, the Euro, the Japanese yen, the British pound, and the Swiss franc. Spot currency prices move in the markets based on factors of interest rates, but interest rates between two nations, rather than one side of a currency pair.

In order to understand a currency pair combination, both sides of the pair must be considered from a two–nation perspective. How does the second nation calculate and factor interest, and what are the market instruments that track the various rates that trade every day in order to track a trade throughout the various markets? Inside the Currency Market outlines the two–sided currency pair trade from a whole host of perspectives as it relates nation–to–nation, addressing currency pairs from the eight major countries. And it answers a key question: what are the components, the constituent factors comprising the second side of a currency pair equation, and how should those factors be considered in terms of a trading strategy?

Throughout these pages, author Brian Twomey shows how currency movements are impacted by a variety of factors, including interest rates, trade balances, inflation levels, monetary and fiscal policies, and the political climate. He also discusses fundamentally driven trades based on interest rate differentials and trade imbalances as well as technical trades involving chart patterns, trends, and trading ranges. And he reveals how successful traders use both fundamental data and a variety of technical tools to trade within this market as well as describing both the underlying dynamics that drive the market and the strategies that can help you capture consistent profits in it. Inside the Currency Market explains virtually every element of this market and can function as a desk reference that puts everyday events into context for traders.

The currency market continues to generateinterest and attract new retail traders due to the many opportunities available within it. This book will show you how to successfully operate within this arena by making the most informed trading decisions possible.

From the Back Cover

Inside the Currency Market

A comprehensive reference guide forcurrency traders

While many books offer insights on currency trading, no one volume has provided a complete understanding of the market and its trading strategies until now. Inside the Currency Market offers in–depth discussion of both the underlying dynamics driving the market and the key strategies employed by traders.In it, author Brian Twomey supplies comprehensive information on the structure of the market, its role in the global economy,the forces that drive currency values, and trading strategiesand tactics.

He provides detailed discussion on gathering and analyzing global financial data so that traders can get an informed "big picture" perspective that will help identify profitable trades. Twomey also addresses fundamentally driven trades basedon interest rate differentials and trade imbalances, as well as technical trades involving chart patterns, trends, and trading ranges. In addition, traders will gain a complete understandingof how global financial flows, derivatives, and other markets such as oil and gold impact currencies.

If you want to capture consistent profits in currency trading with a full comprehension of market factors, this is the book for you.


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Most Helpful Customer Reviews

Format: Hardcover Verified Purchase
Having read and read again Brian Twomeys 'Inside the Currency Market' I find it can be thoroughly recommended to anyone who wants to gain far more than just an insight into the various price mechanisms of the currencies and instruments traded inside the international money markets.

Whether you are used to thinking of the price of money as simply interest rates or even its rental for a given period then the authors sweeping knowledge of the international currency markets, including its nooks and crannies, where the price of money is determined, will be an intriguing eyeopener. Also included are price determining factors such as indices, bond prices, short term interest rates, forwards, swaps and trading cycles.

Its also not short on trading strategies involving currency pairs using swaps and averages etc but of course its up to an individual as to what may be achieved with any set of tools. In any event if you hope to have a serious and professional knowledge of the money markets then this book really does appear to be required reading.
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Format: Kindle Edition Verified Purchase
This is an excellent book for anyone wishing to understand the internal mechanisms of the currency markets. The author goes into immense detail as he disects the major currencies and explains their characteristics, their relationships with other currencies and what makes them move. If you're serious about understanding currency movements - you won't be disappointed with this book. It is one of the most fascinating and detailed accounts I have come across so far.
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By Shane Gaughan on 1 Aug. 2013
Format: Hardcover Verified Purchase
The book covers all mechanics of the currency market. It can be quite hard to grasp some parts and chapters do need to be re read. It will give you a much greater understanding of the currency market. However it presents so much to consider when trading a pair, I wonder if you would have time to trade at all.
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Most Helpful Customer Reviews on Amazon.com (beta)

Amazon.com: 2 reviews
1 of 1 people found the following review helpful
Good book for beginners currency traders 20 Nov. 2013
By Ilya Martynenko - Published on Amazon.com
Format: Hardcover
I found a little mistake in your pivots formula (p.294):
2nd Resistance = PP + ( 2* High) - Low should be 2nd Res = PP + (High - Low)
3rd Support =  2PP - (High – Low) should be 3rd Sup = 2*PP - (2*High - Low)
5 of 8 people found the following review helpful
The best resouce for understanding the fundamentals of forex 10 Oct. 2012
By David - Published on Amazon.com
Format: Hardcover
The equity market is to Earth, as the foreign exchange market is to Pluto; vastly diverse realms in size, function and dynamics. Whilst equity markets are primarily driven by speculation, currency markets are driven by economic necessity. The necessity for currency exchange, and it's fundamental reflection of economic forces. With an average daily volume of over $4 Trillion (yes, trillion with a T), speculative price action is nearly impossible, leaving the door ajar for true analysts to profit (immensely) from their understanding of actual economic forces. With the current sky-high margin leverage rates offered, those whom truly understand the core dynamics of the foreign exchange markets have won the lottery. 95% of traders loose money in Forex, only 2% break even, and only 3% have made (incredibly substantial) profits in the long run; because only the 3% actually understand the underlying fundamentals of foreign exchange - this book being the first baby step.
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