The Traders Book Club
In this new collection of 12 articles from foreign exchange experts Barbara Rockefeller and Vicki Schmelzer, the authors begin with an interesting observation ? everyone knows the FX market is the largest and most liquid financial market there is, but how many people stop to ask ?What is the purpose of all this volume??
This leads us to other unanswered questions, and other facts that are taken for granted, about the FX market. It is these questions (and many more) that Rockefeller and Schmelzer seek to answer, and these myths that they seek to shatter, in this fascinating, insightful and elegantly written book.
Is FX active or passive? Is the FX market inherently unstable? Is it possible to forecast the FX market? Can and should FX traders use technical analysis? Is reserve currency diversification away from the dollar desirable or likely?
You will find out the answers here.
The eponymous Matrix that gives its name to the collection is one of the more interesting facets of the book, and it is explained in Chapter 1. It is contended by the authors that a matrix of factors can be employed as a core organising principle in FX analysis in order to get on top of the tangle of data that confronts observers of the market. Just thinking of the FX market in this way will open the eyes of many readers and encourage them to see things in a way they hadn?t previously.
Rockefeller and Schmelzer continue this trend with 11 other thought-provoking chapters, covering topics such as central bank intervention, how FX trading volume can be measured, technical analysis and intermarket relationships.
This is a recommended book if you wish to learn more about how foreign exchange operates and take your understanding of the market to the next level.
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