Psychology of the Forex market. Thomas Oberlechner
Whatever the supporters of technical and fundamental analysis say, the psychological component still has a decisive influence on exchange rates.
How the crowd will behave in the market, assessing this or that event, how strong the panic or excitement will be, all this is studied by psychology.
The book “Psychology of the Forex Market” is intended for a wide range of readers, but it cannot be called easy to read; it is more of a textbook than an entertaining read.
From the contents it will immediately become clear whether you want to read this book:
1. From rational people making decisions to market psychology - the basic principles that will help you understand what modern currency markets are.
2. Psychology of trading decisions - based on what conclusions traders usually make decisions about entering the market. What is the dynamics of social herdism? Basic types of behavior in trading.
4. Expectations in the foreign exchange market - the passage of time, types of analysis used to assess the situation, psychology and market expectations.
5. News and rumors - types of sources from which news comes, how news affects exchange rates, rumors and where they come from.
6. Personal psychology of traders - the main qualities that allow them to make the right decisions - understanding the market, ability to make decisions, emotional stability.
7. Navigating the market using metaphors - an overview of the main market metaphors, how metaphors shape the consciousness of traders.
8. Foreign exchange market - psychological structure - briefly about the market as a structure or illusion.
9. Market fundamentals - functions of the market and its main participants, the concept of trading, and who they are forex brokers.
You won’t find anything new in the book; it will be more interesting to a novice trader who has just entered the Forex market.
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