Product Description
A top currency trader introduces the circle of elite global business moguls who control and manipulate the values of world currencies and, consequently, the worth of every country's goods and services. 17,500 first printing. Tour. ... Read more

Customer Reviews (5)

Only the Technology used is dated
The reviewers are right, the book is dated.... BUT ONLY THE TECHNOLOGY THAT KRIEGER USED.The art of trading, the meat and bones of it, will NEVER BE DATED.That is why with basically just a telephone I bet Krieger could trade rings around all of us.So stop looking at the date of publication and look at the information published in this book.
This guy made a lot of money because he kept long hours and worked hard, and this book can help us novice traders understand that.

Boom or Bust an indepth look at how the FX works.
About the time of the Gulf War, International Markets had been hoping the U.S financial house would put their house in order.International Markets wanted more investing, savings and growth; instead, U.S markets became heavy in consumer debt.Interest, taxes, and inflation were at high levels.Foreign investment began seized up large chunks of real estate hoping for inflation too drive up price and increase their U.S equities.The 80s housing boom would be curtailed by rising interest rates but maintain a stead climb for the next 25 years.Real Estate would seem invincible until maximum debt levels could not be exceeded.

Corporate Investment enticed foreign investors to buy U.S companies based on location value and settling for lower levels of production.However, the corporation investors would not be expected to maintain this pattern. Investor would buy U.S companies and transfer labor forces overseas taking advantage of lower labor costs and high profit margins.

Deflation. What would happen, if the housing prices deflate?Cheap money would be repaid by expensive money and for this reason, it may be better to cut loses, and move the money into a foreign currency. Perhaps, the Germany currency would be the refuge to preserve value.Investors will be looking for currencies in countries where economic growth is high, inflation low, and real interest rates are high. Investors always have a safe habor to retreat too. Once the Foreign exchange starts moving in a particular way, it is unlikely to reverse, just like big ships turn slowly.The shifting of money between countries is linked to economic performance.

In 1984, the dollar reached new highs, many consider it overvalued, some were watching for a sell-off. Reagan stated, he would not intervene.The decline of the dollar was agreed upon in "The Plaza agreement", as follows, "further orderly appreciation of the main non-dollar currencies against the dollar is desireable."Between 1985-87 the dollar fell 50% meaning the buying power of the U.S citizen was cut in half.

Capital flows.There is only one hugh pot of international money.Capital flows shift assets from one country to another and these shifts affect the currency value or the exchange rate.Foreign exchange is needed for liquidity.Individual trader make and lose money from Foreign exchange transactions, however, corporations use the foreign exchange for liquidity.Corporations may be required to make purchases in dollars, so they exchange local currency for dollars.

Hedging allows the company to lock a certain exchange rate in the future for a fix amount of money.Banks offer these credit rate forwards to clients.Banks actively try to bet they can beat the averages extended for the credit forward rate.Banks do this by buying and selling currencies on the foreign exchange and profiting off a marginal spread.

In 1991, the U.S recession was ending, Europe economy was slowing down, the dollar was sharply rising, relative interest rates were thought to be shifting to the West, dollar dominated assets were becoming attractive, and capital began pouring in. U.S commodities prices, bonds, and securities were directly affected by foreign investment.This massive international pool of money flowed from one investment vehicle to another.Large blocks of commerical and private real estate where wholly or partially owned by the British, Dutch, Canadian, and Japanese countries.U.S manufacturing depending heavily on investment from overseas.

U.S imports are paid in dollars.When the foreign exchange rate favors imports (when their is a strong domestic currency), lower import costs will soon be pass along to the consumer, in terms of cheaper products.For example, an American importer buying Japanese goods must trade dollars for yen in order to pay for those goods.Likewise, a German buying American goods must sell deutsche marks and buy dollars in order to pay his invoice with U.S currency.When the exchange rate goes against a company, it must lower costs, lower its profit margin, and seek new avenues to export goods.

The foreign exchange market is a free market in the purest sense.It is not answerable to a higher authority; it is composed of 200,000 active traders; it has millions of global investors; it has no restrictions on this market; it has no international authority acting as a governing authority; it is consider one of the most stablizing factos in the world monetary system.

Dated and not ability oriented
I tend to overlook the age of books before purchasing them, and this is yet another one of those follies.Aside from that, this book is an interesting read, though more personalized and biographical.I would pick this book up if you want to maybe gleam some personal concepts and perceptions from an insider, but don't think it's going to help your trading or undestanding too much.There are much better books for that.

Interesting but dated
Krieger, I'm going to guess, didn't really know for sure what kind of book he wanted to write so he kind of included a bit of everything, but gave us not enough of anything.

It would have been great if the book had been written in the same style that Jim Cramer's book revealing how he ran his hedge fund was written, lot's of action and description.Krieger includes some of this, like how he'd spend 18 to 20 hours a day in front of a computer and wonder about his life.But he just didn't get in depth enough.

He covers a lot of history, but again, it was not enough if history was what you were looking for.In my case, it was a bit much, I really didn't need to hear so much about the specific names and dates, I wanted more of the individual trading side of his story, what he did and why.How it worked or didn't.

Of course, this book is totally out of date.For that reason, it is actually even more interesting in a way, as the author has no idea how FX trading will advance.

The book itself offers no specific strategies or advice on investing in the FX market, however, I guess that would make sense as when it was written, only pro's or people with a lot of cash could enter this market.

If Krieger were to decide to write a modern work, covering the topic of trading "inside the trillion-dollar world of currency trading" as the cover states, it would be something I'd love to read.I can't recommend this work currently, without the caveat that the reader realize it's limited value as far as trading in today's market.The history, however, is interesting as is the limited view the author gives us as to his trading.Whether the price of the book is worth paying, I'd recommend it only to the reader that is sure of what they are getting.

Great overview!
This is a great book. Mr.Krieger gives you the history of how foreign currency trading came about. He also provides you insight into how curreny trading work and more importantly how it fails.

He doesn't give specific strategies on how to trade currencies, but he does introduce vocabulary and resources to help you get started. In that respect the book is out of date. There is no discussion on the internet and how that has changed the face of currency trading forever.

This is a good book, a foreign exchange classic that wouldn't hurt any currency trader if he kept a copy on his shelf. ... Read more

Product Description
Traders are constantly learning their craft. Those who do not share information, discuss tactics and review prior trades are doomed for failure. Global-View.com knows this. It is the leading destination for Forex traders looking to learn and discuss trading. With over 33,000 registered users from 125 countries, Global-View.com exposes its users to an incredible base of knowledge.

In this book, the authors dissect each of 15 chosen trades, using the material to expose some of the best (and worst) practices of a Forex trader. The book weaves a plethora of Global-View.com information into the detailed dissection. Each description will include how the trade was selected and why it was made, as well as money management and psychological aspects of the trade. Entertaining anecdotal stories are interspersed throughout each trade story. ... Read more

Customer Reviews (11)

The worst Forex Book I've ever read
To make a long story short, reviewer StormFury says it all ... and I subscribe 100% to his excellent review. He details on all major shortcoming of the book (and there are many).

For me the worst thing: the book's title talks about 15 trades, so your expectations are tuned to find some EXAMPLE trades, with detailed reasoning about when these trades were entered and exited, and more importantly WHY they where entered. None of this can be fond in the book. Sometimes the author (Archer) spends as few as 3 lines for a trade, e.g. on p. 126, Analysing the trade he writes:

"In this trade I was using a formation on an hourly chart and was looking for well over 100 pips of profit. I could afford giving up some of that profit, should I be correct, since it was larger than my usual trade objective. (See Figure 11.3)"

... that's ALL, that's Archer's "analysis" of a trade! Further down the entry/exit date and prices of the example AUDUSD pair are listed together with a figure that just doesn't tell you anything. BTW, the entry date and exit date are the same (Nov. 21,2007), however, there is no entry time nor an exit time given. The figure itself only shows the letter "A", supposedly the entry, but no exit. I could keep on going like that ... it's just a waste of time to read a book like that.

My advice, if you really want to stickyour nose into the book, try to read through Chapter 27. The "Goodman Swing Count System" is supposed to be heart of the book, the key to Archer's trading strategy. In case you will make it through the chapter, you will find that the so-called rules defined here are in most cases highly subjective. I have tried myself to find Archer's multi-level matrices and intersections on many FX charts, with the result that his technique is no better than a throw of dice.

Please save your money and skip this one
This book is a mishmash of :
1) A Beginner's guide. A bad one and nothing you cannot find online or in other better organized books.

2) Some trading rules. The 15 trades are actually supposed to illustrate some general trading rules. The trades are not annotated except for the entries and exit, with no reason for entry or exit. There is no way you can learn from the trade as there is no explanation whatsoever and it seems they were slapped on to illustrate the point (or rules). If you are looking for a trading system, forget it. Even with his one page supposed KISS trend-following system, the author managed to obscure it beyond implementation.

3) A dump of some online content. Which is available online already. The whole Shanghai BC chapter is available at the [...] website verbatim. So save your money and go to the site. The site itself is rather disorganized and not for the beginners.

4) A hyped up "secret" trading method. The author (Archer) constantly refers to his secret trading method passed down by his mentor Goodman and devotes chapter 27 to an exposition of this method. This chapter is at least clearer than the other book where he started selling this method (Getting Started in Forex Trading Strategies). It is supposed to be a superior system that is better than Elliot wave. However I can tell you that it is not possible to implement it successfully based on the material in this book. Since it is a wave system, it is high subjectively and EVERY zig zag will look like a potential entry. It is possible that the author is able to make money using this method, but it would be due to his experience or other unrevealed rules or may be he just was to sell you more stuff at his site. Personally, I'll pass on this secret method.

What I did take away from this book :
1) Chapter 6. Trader profile. The author (Archer) provided 4 trader profiles (Guerrilla, Scalper, Day Trader, Position Trader) and their respective chart time frame, targeted profit pip range etc. It is good to have this information for your own comparison and reference so you can find your own profile by trial and experimentation.

2) Chapter 8. Trading Heuristic. What the author (Archer) calls the Snow Flake Heuristic describes a Trading Plan that can be used as a reference. He describes what he does to get ready for trading, how he monitors the market and filter potential trades and finally enters into them. It's a good description of how a trader should approach trading by determining his own trading personality and focus on making only the high probability trades.

Conclusion:
For this price, if you can get a copy at your library, read the parts I recommended (they are very short) and save your money for other books.

GVI honest advice about currencies
As a veteran currency trader for institutional clients, interbank dealing and proprietary trading, I find that the Forex Essential in 15 trades is an honest attempt to show how one can approach currency trading. The title itself shows that there is no one `correct method' in successfully trading currencies. Each person has to find what type of trading behavior best suits him or her. The message of the book is that there is no one-way to approach the market.
The book is filled with basic information about the currency market but the real insight is seeing the personality inside most of the 15 trades exemplified in the book. I found that Trade #2 regarding stop-loss orders shows the complexity and frustration of individual trades is just plain honest and to the point. Chapter 8's title of the "King Kong Syndrome" can describe the atmosphere on any interbank desk or hedge fund when one feels like the can always beat the market only to be set up for a big loss. I wish the book explored in more details the personalities behind the trades.
What the book fails to do is really promote the authors website in its proper context. I have been a global-view.com contributor since the site was created in the mid-1990s.Chapter 23 with Forex lessons from Shanghai BC is the typical posting and insight that one can retrieve from the GVI community. The site has some of the sharpest trading minds in the business and again like the title suggests, there is no one `correct' approach towards the market. If buying the book brings one into GVI, then I believe it is the first step towards understanding oneself in trading/managing money.

2 Good Chaps
I liked Chap 4 - Fundamentals and Chap 25 Shanghai BC and for these alone it may be worth a read.The rest is so so.Its by no means a must have book for forex trading and really is a promotion for Global View - which is ok too.

Enriched my trading experience immensely
I don't usually take the time to write reviews... but felt it was a worthwhile endeavor this time.I bought a bunch of books on trading currencies to try and get more perspective on how others think about and approach the forex market. I never worked in finance, so i don't have a personal network of connections to collaborate and share ideas with. This Global-View.com guide, more than any of the other books I picked up, gave me what i was looking for. All the books lay out specific chart patterns, market fundamentals, and different trade setups, but what set this one apart for me was the community behind it.The book is a gateway to this global network of professionals and like-minded traders around the world. It's "crowdsourcing" and knowledge sharing at its finest, brought to bear on the addictively exciting and impossibly complex puzzle that is the fx market.The book and its authors introduced me to a live community that's been my broadening my market knowledge and enriching my trading experience more than any ordinary book on technical studies or fundamental analysis ever could. ... Read more

Product Description
This reissued investment classic by financial guru Benjamin Graham expounds on the theories presented in the author's previous masterpiece, Storage and Stability, offering a more global focus on the subject of stockpiling raw materials as a means of achieving expansion and stability in a postwar economy. Graham maintains that stabilization of commodities offers a comparatively simple technique by which the world could achieve the fourfold objective of foreign-exchange stability, reasonable price stability, protective stockpiles, and--most importantly--a balanced expansion of the world's output and consumption of useful goods. ... Read more

Product Description
L'argent. Dinero. Geld. Dough. Whatever you call it, money makes the world go round. The United States is dispensing its first redesigned bills in decades, and the Euro is on the brink of unifying European notes. It's the perfect time for this visual tour of the world's currencies. The various people, places, animals, and historical events depicted on money reflect how countries see themselves—and how they want the rest of world to see them. Author David Standish begins with a brief, fascinating history of currency, and then presents a striking gallery of international bills from more than 80 countries that corner the market on visual flair. The cast of characters on these small canvases is vast—from the Little Prince on French currency to the furry denizens of the rainforest of Madagascar to the obscure Salmon P. Chase, Abraham Lincoln's Secretary of State, on the $10,000 US note (did you know that the US Secret Service originated with Lincoln's efforts to curb counterfeiting during the Civil War?). The Art of Money is an entertaining and lustrous tour of cash for design aficionados, history buffs, travelers, and everybody who handles money (or dreams of handling more). ... Read more

Customer Reviews (10)

Good book for those who appriciate paper money.
I own a copy of this book and I must say that it makes for a good coffee table book.If you appriciate paper money for the different kinds of artwork, then this book is worth having in your library.

Collorful Images
If you are looking for something with a lot of images, that's what you need.
Very nice and fine printed, but it has not so much to say.

Imaginative Currency Does Exist. Just Not Here.
Probably not the venue to launch into a tirade against the stultified, diploma/stock certificate-like house design style of the American treasury. But when you see the variety, color, flare and adventuresome spirit of other countries' currency designs, it is enough to make you positively ill. This is an old complaint, of course. This books visuals make a totally convincing case for the plaintiffs, however.

There WAS one brief shining moment when American money designers put something better, a real world-class moolah design, in our wallets. --See the gorgeous 3 bill "Educational" series of the 1890's or the Buffalo dollar from the first decade of the 20th Century (with, yes, a full body engraving of a buffalo in the usual bureaucrat spot on front, and two bonus spots on the left and right bearing likenesses of Lewis and Clark). After this frolicking fist full of dollars, American currency design "went corporate"; there hasn't been a really fun or cool bill in almost a century now.

The US post office has dolled up their issues to the point people accuse them of tackiness or pandering to populist taste. This is how we can see that stamps are alive as a design vehicle. When everything is august and handsome and tasteful, it is precisely as dead as...well, as American money design.

Beautiful images, irritating text
Make no mistake -- this is a very attractive book. Frankly, its Jeremy Stout's design and Joshua Dunn's photography that make this book worth buying. Full color images of hundreds of U.S. and foreign paper currencies delight the eye. The layout itself takes its inspiration from money, with security stripes and microprinting, and even page numbers look like currency serial numbers.

The commentary, however, is another issue. While often containing valuable tidbits of the history of paper currency, especially in the section on the United States, "The Art of Money" suffers from failed attempts at humor and an often joyless condescending tone. In an entry on Queen Elizabeth II she's described as looking a little too much like "Prince Charles in drag." The portraits on the redesigned U.S. currencies are described as looking like characters on "South Park".

For most readers, this is not helpful information. In addition, there are too many explanations of images that include the modifiers "must be", "could be", "it would seem so" and modern interpretations of allegorical scenes. Absent an expert's analysis or first-hand knowledge of the reasons behind the placement of images on currency, the author's speculations do not help the novice currency collector and are likely to annoy the professional.

In the final analysis, its the photos of the currencies, and not the captions, that make this book an enjoyable "read." And, as a former articles editor for "Playboy", Mr. Standish might forgive readers if we pick up his book only to look at the pictures.

Glass Half Empty...
Clearly this book is not directed to specialists in the field of world paper money collecting, though many dealers, it seems, are happy just to have something glossy and well-produced to entice people into joining the hobby.Yes, the book is pretty, and yes, it is entertaining.Unfortunately, it ignores an important issue that is at the core of paper money:politics.Why do some paper money designs change while others remain the same?Why do some countries put their leaders' pictures on their money while others would never do such a thing (at least not until they are dead)?Why do pounds become dinars, cruzados become reals, etc.?The book leaves the reader with the impression that the designs on paper money are hardly more than a celebration of a country's cultural and technological accomplishments, but there is more than that...

This is why the book ultimately falls short:By studying the art of money only as an end rather than as a means to an end, a vast -- and fascinating -- dimension of the story is lost.Hopefully there will be other books on the topic that go beyond this initial effort. ... Read more

Product Description
Originally published in 1895.This volume from the Cornell University Library's print collections was scanned on an APT BookScan and converted to JPG 2000 format by Kirtas Technologies.All titles scanned cover to cover and pages may include marks notations and other marginalia present in the original volume. ... Read more

Product Description
Relative To The Volume Of The World’s Money, With Complete Abstracts Of Various Plans Proposed For The Solution Of The Currency Problem. ... Read more

Product Description
The annual updated edition-from the editors of the #1 coin publication in the world.

This easy-to-use book contains more coin prices and value trends than any other guide. It also includes vintage information, specifications, varieties, and values for more levels of preservation. It's fully indexed, with photographs of every regularly issued U.S. coin, and offers essential information on grading, coin production, and more. ... Read more

Product Description
From the editors of Coin World Magazine, the #1 numismatic publication in the country, comes the annual update containing more than 50,000 coin values, full index, and photographs. ... Read more

Product Description
Draws from the mammoth guide of the numismatic field - Standard Catalog of World Coins that sells more than 20,000 copies each year

Features a comprehensive and easy-to-follow format that collectors can refer to at shows, or at home while placing bids on the more than 39,000 active online auctions

Appeals to more than 100,000 readers of the hobby's three main magazines (Numismatic News, World Coin News, Bank Note Reporter), as well as numerous international periodicals

Collectors of world coins and currency are enjoying the benefits of increased availability of coins and paper money from around the world; and with that comes a need for quick access to reliable information. World Coins & Currency helps collectors make successful on-the-spot decisions, using:

*More than 1,000 detailed color photos for quick and accurate identification of coins and currency
*Detailed listings to help new collectors increase their knowledge of the hobby, and assist experienced collectors in expanding their collection
*Tips for detecting counterfeit pieces, while saving collectors from costly collecting investments

Perfect for collectors to purchase as a handy reference, this new addition to the Warman's Companion series also makes a great gift for serious or casual coin and currency collectors." ... Read more

Product Description

This Element is an excerpt from The ETF Trend Following Playbook: Profiting from Trends in Bull or Bear Markets with Exchange Traded Funds (ISBN: 9780137029013) by Tom Lydon. Available in print and digital formats.