Forex Market Psychology by Thomas Oberlechner
Despite what proponents of technical and fundamental analysis say, psychological factors still have a decisive influence on exchange rates.
How the market crowd will react when assessing a particular event, and how intense the panic or excitement will be—all of this is studied by psychology.
The book "Forex Market Psychology" is intended for a general audience, but it's not exactly easy reading; it's more of a textbook than a fun read.
The content will immediately determine whether you'll want to read it:
1. From rational decision makers to market psychology—the basic principles that will help you understand the modern currency markets.
2. The psychology of trading decisions—the reasoning that traders typically use to make market entry decisions. What are the dynamics of social herd behavior? The main types of trading behavior.
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 you to make the right decisions – understanding the market, the ability to make decisions, emotional stability.
7. Navigating the Market with Metaphors – An overview of key market metaphors and how metaphors shape traders' minds.
8. The Foreign Exchange Market – Psychological Structure – A brief overview of the market as a structure or illusion.
9. Market fundamentals – functions of the market and its main participants, the concept of trading, and who are they Forex brokers.
You won't find anything new in this book; it will be more interesting to a novice trader just entering the Forex market.
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