Forex Frontiers "The Essentials of Currency Trading"

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Forex Frontiers "The Essentials of Currency Trading"

3.49 of 5 stars 3.49 · rating details · 78 ratings · 53 reviews

Chapter 1: Introducing Forex
1.1 - Scope and Purpose
This book is the first of a trilogy. The full set comprises the following titles:
Book 1: FOREX Frontiers: The Essentials of Currency Trading
Book 2: FOREX Frontiers: Proven Strategies for Success
Book 3: FOREX Frontiers: What the Pros Won't Tell You
Book 1: FOREX Frontiers: The Essentials of Currency Trading is basicaly aimed...more

Hardcover, 228 pages

Published September 1st 2011 by Merritt House Publishing (first published 2011)

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Forex Frontiers "The Essentials of Currency Trading" by Ivan Cavric

Common Stocks and Uncommon Profits and Other Writings by Philip A. Fisher

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Dec 04, 2011 Steve rated it 2 of 5 stars

This was a goodreads give-away book (Thanks!).

There are some positives and negatives about this book. As an introduction into the subject the book is OK. there is through the first 10 or so chapters too much telling us how rubbish novice traders are and how only when you are a super-experienced FOREX trader you'll ever do any good.

If you can get past this smugness there is some useful advice - like never 'betting' (for want of a more appropriate word) more than 2% of your capital on any one trad...more

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Jun 26, 2011 Peter Scholtens rated it 4 of 5 stars

I am no expert on investing in foreign exchange markets. However, I do have some experience in teaching and training, and a little experience with investment psychology. It is from that perspective that I recommend Ivan Cavric’s book Forex Frontiers: The Essentials of Currency Trading, the first in a trilogy, as a gem in the making. It has the potential to be a successful how-to book, jumpstarting the abilities of anyone desiring to explore the world of forex, while helping the budding forex tra...more I am no expert on investing in foreign exchange markets. However, I do have some experience in teaching and training, and a little experience with investment psychology. It is from that perspective that I recommend Ivan Cavric’s book Forex Frontiers: The Essentials of Currency Trading, the first in a trilogy, as a gem in the making. It has the potential to be a successful how-to book, jumpstarting the abilities of anyone desiring to explore the world of forex, while helping the budding forex trader avoid the pitfalls that most forex traders fall into.

As a how-to book, it fulfills the following standards for success:

First, it is information-rich, giving a good sense of the parameters of what is involved with getting into foreign exchange trading. Second, it gets to the point quickly, filling in the details on what it takes to be a successful forex investor. Third and last, it provides a plan of action to become a successful forex investor, as well as the promise of further reading to help master the subject.

Forex Frontiers: The Essentials of Currency Trading covers the basics of forex investing, starting right from square one. The first half of the book includes an introduction to the markets, a discussion of the possibilities of failure, and the potential for success. An entire chapter is devoted to the necessity to develop a proper investment psychology. There are discussions of introductory issues such as selecting a strategy, an introduction to technical indicators, selecting a broker, and other challenges.

The second half of the book begins with a discussion of risk and money management, including managing losses and profits. Chapters introducing fundamental analysis and discussing technical analysis in more detail form the core of the second half of the book. The book ends with an important discussion about designing a forex strategy, and a case study of a sample forex strategy.

What I especially appreciate about Cavric’s book is its measured, cautious, and deliberate approach to forex investing. Rather than promising great riches and gain in short periods of time, it stresses the need to be disciplined, to develop a strong investment psychology, and to cultivate and follow a trading strategy, rather than playing around and changing strategies often, or worse, to have no strategy at all.

As such, Forex Frontiers: The Essentials of Currency Trading is a an excellent introduction to the discipline of forex investing. It does not promise too much, but pointing out to its readers the opportunities that exist if the right approach is taken. I am looking forward to the next installment in the series.
(less)

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Sep 06, 2011 Jason Lewis rated it 4 of 5 stars

Shelves: books-i-won

Cavric introduces a new method of trading to those familiar with the ups and downs of the current American stock trading of wall street through currency trading with other countries. It is understandable how people would want to jump right into this market immediately because no matter what, if one currency is dropping, then another currency is gaining somewhere at the same time. I can see how some people would think that they can make so much money immediately even though it is a market game th...more

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Dec 11, 2011 Jay rated it 2 of 5 stars

Shelves: books-i-own, goodreads-giveaways-and-first-reads, non-fiction

I received this book as part of Goodreads giveaways and first reads.

I'll freely admit that my knowledge of foreign exchange is limited to the tail end of the news programmes, typically smushed in between the sport and weather report as part of the 'finance' segment. I know of things like margins, Dow Jones, gold commodities and other such nonsense, but typically in name only. I know that the US dollar and Australian dollar are fairly equal at the time of this review's writing, and the New Zealan...more I received this book as part of Goodreads giveaways and first reads.

I'll freely admit that my knowledge of foreign exchange is limited to the tail end of the news programmes, typically smushed in between the sport and weather report as part of the 'finance' segment. I know of things like margins, Dow Jones, gold commodities and other such nonsense, but typically in name only. I know that the US dollar and Australian dollar are fairly equal at the time of this review's writing, and the New Zealand dollar is typically weaker than the Australian dollar. And that's about where my knowledge ends. When I won this book, I was admittedly a little bit floundered, but hey, I like reading new topics, and I figured if anything this would let me expand my knowledge a little more. I can't say I'm planning on going into currency trading any time soon, but hey, at least I would have an idea on what the news folks were talking about.

The first couple of chapters are easy enough. It was very 'buyers beware'. Okay, I said to myself. A bit obvious- I don't need to be slow on the uptake to know that the foreign exchange market can be volatile. But hey, sometimes we need to be obvious, and this is presented as being a 'ForEx for Dummies' kind of book.

But then things got a bit overwhelming. RSIs? Margin calls? D1s? I don't understand! How does this relate to me, and where's my dot point list of simple explanations I'd like right now? So I flip the page- oh, nice, a graph, this will put things in perspective for me. But that Ivan Cavric starts talking about different coloured lines, and the book is all in black and white... and my brain starts hurting. Really, an editor should have picked up on this- along with other punctuation, grammatical and spelling errors.

All in all, this is a good book- if you already have a good, basic knowledge on the ForEx system. Unfortunately, I don't, so a lot of what Cavric was saying went up and over my head. Sure, I learnt a tiny bit, but not as much as this book, and Ivan Cavric, promised me.(less)

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Oct 22, 2011 Jennifer (JC-S) rated it 1 of 5 stars

Shelves: first-reads

‘Beginners should never be deceived by thinking that FOREX is relatively simple to master.’

The foreign exchange market (forex) is a global, decentralised financial market for trading currencies thus determining the relative values of different currencies. The primary purpose of the foreign exchange market is to enable international trade and investment by allowing businesses to convert from one currency to another. However, it also enables direct speculation in the value of currencies as well as...more

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Sep 24, 2011 Kai rated it 4 of 5 stars

Shelves: first-reads

I don't know much about currency trading but this book gives you a step by step on how to trade currency. One of the thing I like about the book is that the author Ivan Cavric explains how beginners loses money. As in anything, currency trading is not a get rich overnight scheme which Ivan Cavric kept hammering. Like anything else, you have to work hard by understanding how currency trading works. This book gives the foundation of how to begin trading currency. The only thing I just don't like i...more

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Jul 07, 2011 Ivan Cavric rated it 4 of 5 stars

Review by Peter Scholtens:

I am no expert on investing in foreign exchange markets. However, I do have some experience in teaching and training, and a little experience with investment psychology. It is from that perspective that I recommend Ivan Cavric’s book Forex Frontiers: The Essentials of Currency Trading, the first in a trilogy, as a gem in the making. It has the potential to be a successful how-to book, jumpstarting the abilities of anyone desiring to explore the world of forex, while hel...more

Review by Peter Scholtens:

I am no expert on investing in foreign exchange markets. However, I do have some experience in teaching and training, and a little experience with investment psychology. It is from that perspective that I recommend Ivan Cavric’s book Forex Frontiers: The Essentials of Currency Trading, the first in a trilogy, as a gem in the making. It has the potential to be a successful how-to book, jumpstarting the abilities of anyone desiring to explore the world of forex, while helping the budding forex trader avoid the pitfalls that most forex traders fall into.

As a how-to book, it fulfills the following standards for success:

First, it is information-rich, giving a good sense of the parameters of what is involved with getting into foreign exchange trading. Second, it gets to the point quickly, filling in the details on what it takes to be a successful forex investor. Third and last, it provides a plan of action to become a successful forex investor, as well as the promise of further reading to help master the subject.

Forex Frontiers: The Essentials of Currency Trading covers the basics of forex investing, starting right from square one. The first half of the book includes an introduction to the markets, a discussion of the possibilities of failure, and the potential for success. An entire chapter is devoted to the necessity to develop a proper investment psychology. There are discussions of introductory issues such as selecting a strategy, an introduction to technical indicators, selecting a broker, and other challenges.

The second half of the book begins with a discussion of risk and money management, including managing losses and profits. Chapters introducing fundamental analysis and discussing technical analysis in more detail form the core of the second half of the book. The book ends with an important discussion about designing a forex strategy, and a case study of a sample forex strategy.

What I especially appreciate about Cavric’s book is its measured, cautious, and deliberate approach to forex investing. Rather than promising great riches and gain in short periods of time, it stresses the need to be disciplined, to develop a strong investment psychology, and to cultivate and follow a trading strategy, rather than playing around and changing strategies often, or worse, to have no strategy at all.

As such, Forex Frontiers: The Essentials of Currency Trading is a an excellent introduction to the discipline of forex investing. It does not promise too much, but pointing out to its readers the opportunities that exist if the right approach is taken. I am looking forward to the next installment in the series.
(less)

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Oct 30, 2011 Gretchen rated it 5 of 5 stars

This book tells you about all the essentials that you need to know in order to trade foreign currency on the foreign exchange. I won this book in one of the goodread giveaways, and while I have not really considered trading on the forex, this book definitely explains the basic concepts and ideas behind it. And what I liked about this book is that it really stressed the need to understand the forex and to take it seriously. The author really stresses ways to reduce risk when trading. The view is...more

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Sep 15, 2011 Vincent O'Neil rated it 1 of 5 stars

I've always heard, "Don't invest/gamble more than you can afford to lose."
This book assumes you have some cash laying around you can afford to play with.

Now comes the hard part.

While it seems like this is an "Investing for Dummies" type book, it is far from it. While the author attempts to take you one easy step at a time, the tangles soon grab your brain and it is easy to get lost.

UNLESS you have some experience/knowledge about trading currencies. In that case, consider this a primer.

Be aware,...more

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Aug 20, 2011 Margaret Yu rated it 4 of 5 stars

I won this book from Goodreads First Reads, and very happy that I did.

Forex Frontiers: The Essentials of Currency Trading by Ivan Cavric is the first book of a trilogy, which I would recommend to those who are either involved or have an interest in foreign exchange markets. This is a fanatic introductory book that is easy to pick up and read, densely packed with invaluable information, and filled with concrete concepts without any technical jargon or mumble jumble. Cavric’s book has certainly e...more

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Dec 13, 2011 Stephanie rated it 4 of 5 stars

Shelves: first-reads, 2011-reading

I received my copy through Goodreads' First Reads program!

As an introduction to foreign exchange trading, this book does its job very well. I began this book with absolutely no knowledge or previous experience on this topic, but felt I had a firm grasp of the basics upon finishing. It is a very easy read, so anyone interested in researching this career should have no problem understanding what they need to know to decide if FOREX trading is a viable option for them. I truly enjoyed learning abou...more I received my copy through Goodreads' First Reads program!

As an introduction to foreign exchange trading, this book does its job very well. I began this book with absolutely no knowledge or previous experience on this topic, but felt I had a firm grasp of the basics upon finishing. It is a very easy read, so anyone interested in researching this career should have no problem understanding what they need to know to decide if FOREX trading is a viable option for them. I truly enjoyed learning about this trade, as it is something I previously knew nothing about, and I was greatly disappointed by the two major drawbacks I noted throughout the book- the author’s constant warnings that there is little chance of success in this trade, and the obvious lack of proofreading and editing.

One major setback I saw in the author’s approach to teaching FOREX is that he constantly reiterates how few actually succeed in this market and how novices barely stand a chance. While I appreciate Cavric’s caution and concern for his readers, I found it only made me afraid to even try to go ahead with my education of FOREX trading because the author seems to push that there is little to no hope for success anyway. He states numerous times that only five percent of FOREX traders are able to make a living from this practice, many being large banks, governments, and financial institutions. This leaves almost zero hope for your everyday, run-of-the-mill trader.

From a literary standpoint, the editing of this book is simply horrible! There are words randomly missing and sentences that lack their first couple words, making some extremely difficult to understand as the reader must imagine what words belong there. I would hope that a system that boasts that it will “jumpstart anyone’s desire to enter the exciting world of FOREX” would take a little more time examining what they are providing someone looking to make a life-altering change. I was thoroughly enjoying learning about trading psychology, market trends, and strategies, but the constant lapse in grammar and sentence structure made me feel that maybe this information was just churned out quickly to reach a publisher and make a profit (since the editing step was obviously skipped over completely), and perhaps its information is less that completely credible.

FOREX Frontiers is divided into fourteen chapters, each highlighting a different area of interest to FOREX traders, such as money management, designing your own trading strategy, deciding if FOREX trading is right for you, and how to jumpstart your own career. The author utilizes graphs and tables to make the denser information more reader-friendly, and there are also many bulleted lists to help break up the information, when droning paragraphs would only lead to confusion. Although, one problem I saw with the author's choice of graphs is that he refers to different colored lines to show his points, but the book is printed in black and white! This makes it a bit difficult to even know which line he is referencing.

I really wanted to give FOREX Frontiers five out of five stars, but the negatives weighed heavily on me as a reader, so it will have to settle for four stars. I would recommend this as a source of beginner information for anyone interested in researching FOREX trading, but if you’re easily scared, you may want to find another reference. And if you’re skeptical about your ability to maintain your interest in foreign exchange trading, FOREX isn’t for you.(less)

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Oct 03, 2011 Karen added it

This is an introduction to Forex trading for the novice. The author does an excellent job of stressing the importance of intensive study and practice before beginning to invest. He also covers selecting a broker. A novice will require a fuller explanation of the analysis and indicators used in designing a trading strategy than he provides. Some of this material must have appeared elsewhere, since the text refers to colors on the illustrations which are in black and white.

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Sep 10, 2011 Stuart Hargreaves rated it 4 of 5 stars

Having a degree in banking (ACIB) I looked forward to reading this book . Although I am not that experienced in trading I did feel that the overall philosophy was correct and it proved to be an interesting read with several good proven methods explained, by reading this book any novices to foreign exchange trading are not guaranteed to make money , however this book outlines step by step what to do if you wish to start trading, but remember Rome was not built in a day.

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Oct 23, 2011 Pamela rated it 5 of 5 stars

I won this book and am glad that I did. This is not a subject that I knew much about until I read the book and it's very interesting. The author took a difficult subject and made it understandable. I enjoy reading and learning about new topics so this book was a winner for me. Thanks!

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Sep 30, 2011 Gábor rated it 4 of 5 stars

This book does offer an good introduction to the basics of currency trading. If you are a beginner, you will likely find the details offered educational, describing services offered by brokers, currency pairs tradeable, money management, psychological aspects, paper trading features, technical and fundamental analysis and more. The book also highlights some pitfalls, scams you are to avoid to become successful. The final chapter in the book even details a basic trading approach.

(This review was...more

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Apr 26, 2012 David Richardson rated it 2 of 5 stars

Shelves: first-reads

I received this book for free from the Goodreads first-read giveaway. This was a confusing book on a very confusing subject. I learned enough from it to decide that even though I was a very good day trader during the ".com" era, I might better leave foreign currency trading alone.

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Aug 27, 2012 Linda Peavy rated it 5 of 5 stars

I received this book as part of a Goodreads win. I put off reading it until I had time to really get into it. I learned quite a bit but mainly learned how little I know! This book gives you the essentials that you need to know in order to trade on the foreign exchange.

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Sep 03, 2011 Jp rated it 5 of 5 stars

Very well constructed and easy to follow. I read half way through and decided I didn't need that level of information given I'm not super interested in currency trading. But if you really want to understand this topic in depth, great book.

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May 25, 2012 Kristelle rated it 5 of 5 stars

Shelves: first-reads

For a book in this genre, Forex Frontiers is undeniably worth 5 stars for the author's knowledge of the subject (currency trading) and the ability to convey difficult topics to all readers who try to read this book. The chapters were informative and also presented in a clear, easy to read format that makes this book approachable to anyone interested in learning more about foreign trade. Additionally, this book was not that huge - a definite plus because it makes the content of this book informat...more

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Sep 24, 2011 Peter rated it 3 of 5 stars

I won a copy of this in a Goodreads giveaway. This is not really an area that I'm that familiar with, so I can't speak to its accuracy. Since it's also not necessarily a topic I'm that interested in, it wasn't a bad read.

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Oct 25, 2011 Jan rated it 3 of 5 stars

Goodreads win. Thank you. Forex, one of the largest markets in the world, where one currency is traded for another. Wish I had had this book when I was at college, and in a class where half of the room said they were going to be working on Wall Street. If I had had this book then, I could have at least sounded like I knew what everyone else was talking about! Ivan Cavric walks the novice through FOREX, at first it boggled my mind, thinking in trillions, however, knowing that I would never be tra...more

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May 29, 2012 Kendra rated it 3 of 5 stars

I didn't actually read this....My husband did and he found it "Interesting" "Intriguing" and "Worth a read" These are quotes straight from him....He's a man of few words

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Sep 09, 2011 Heather rated it 4 of 5 stars

I'm a middle of the road investor, but have never spent time learning about or participating in currency trading. I greatly enjoyed this book and learned a significant amount from the clear and well presented material. Section 5.5 is greatly appreciated - a reality check that this is a non-trivial area to gain expertise in, and patience, persistance and practice will be needed to be a successful investor. If you are looking for a late-night TV hawked money miracle, this book is not for you. If y...more

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Dec 14, 2011 jeff marked it as to-read

I won this book for free through Goodreads First Reads. Looking forward to reading it. Thank you.

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Apr 08, 2012 Eric rated it 3 of 5 stars Recommends it for: Currency Market Apprentices

Recommended to Eric by: Goodreads

Shelves: first-reads, favorites

Disclaimer: I won this book through a Goodreads First Reads Giveaway.

This is the first book of a trilogy, in which the author acquaints the reader with the FOREX and the fundamentals of currency trading. However, gray-scale graphics, that indicate black line, blue line, green line, and/or red line graphs are difficult to decipher. Likewise, the justified margins are, at times, hard to read. Further, numerous editing and/or proofreading errors should have been corrected prior to publication. This...more

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Jul 25, 2011 Yy marked it as to-read

I won this book for free through Goodreads First Reads. Hope to read it soon. Thanks.

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Aug 01, 2011 Danie Cutter marked it as to-read

Shelves: first-reads

Received through First Reads, review to follow shortly...

-------

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Jul 25, 2011 Giselle marked it as to-read

Recommended to Giselle by: goodreads

I won this book through goodreads first-reads!

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May 29, 2012 Erin rated it 2 of 5 stars

Shelves: first-reads, financial

I received this book for free through goodreads.

This book was about the foreign exchange market, which I know nothing about, so it pretty much all went over my head. This book is definitely for someone who already has an idea about forex and what it consists of.

Other than just not understanding, there were many grammatical errors that you wouldn't expect from a $65 book. That also threw me off and I couldn't take the author seriously.

I will pass along to financial friends who may enjoy it more...more

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Dec 28, 2012 Emma rated it 2 of 5 stars

Shelves: won

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