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Copyright © 2015 by Abe Cofnas. All rights reserved.
Published by John Wiley & Sons, Inc., Hoboken, New Jersey.
The First Edition of this book was published by Wiley in 2008.
Published simultaneously in Canada.
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Library of Congress Cataloging-in-Publication Data
Cofnas, Abe, 1950-
The Forex trading course: a self-study guide to becoming a successful currency trader /
Abe Cofnas. – Second edition.
pages cm. – (The Wiley trading series)
Includes index.
ISBN 978-1-118-99865-6 (pbk.) – ISBN 978-1-118-99867-0 (epdf) – ISBN 978-1-118-99868-7 (epub)
1. Foreign exchange futures. 2. Foreign exchange market. 3. Speculation. I. Title.
HG3853.C64 2015
332.4′5–dc23
2015013790
Cover Design: Wiley
Cover Image: ©iStock.com/alexaldo
This edition is more than an update on the first edition. Since the first edition was released in 2008, the world of forex trading has significantly changed. The challenges facing the forex trader are new and greater than ever. The financial collapse of 2008 ushered in a rebalancing of the world economy, with monetary policy and currencies as key instruments. The era of quantitative easing began, and with it, central bank intervention became and remains since a prime mover of currencies. Forex trading became subject to greater spikes and disruptions and, more than ever, sensitive to market emotions. Expectations regarding global growth and inflation have significantly influenced currency movement. These changes underscore the need for a refocus on fundamentals for forex trading.
The significant advances in the Internet since 2007 have also transformed forex trading and its technological environment. The forex trader today has the opportunity to access more information, more quickly than ever before. Also, a popular phenomenon called social media trading has emerged where the forex trader can “copy” the trades of other traders. The Internet wraps information flow with rumors and hyperbole, creating herding behavior and swarming patterns.
