Details

The Forex Options Course


The Forex Options Course

A Self-Study Guide to Trading Currency Options
Wiley Trading, Band 355 1. Aufl.

von: Abe Cofnas

38,99 €

Verlag: Wiley
Format: PDF
Veröffentl.: 01.04.2009
ISBN/EAN: 9780470407233
Sprache: englisch
Anzahl Seiten: 240

DRM-geschütztes eBook, Sie benötigen z.B. Adobe Digital Editions und eine Adobe ID zum Lesen.

Beschreibungen

<i>The Forex Options Course</i> is a practical, hands-on guide to understanding and trading forex options. Designed to build a trader's knowledge base in a step-by-step manner, this reliable resource moves from the straightforward to the more sophisticated with discussions of everything from basic plain vanilla calls and puts to intriguing first-generation exotic binary options. Written in a straightforward and accessible style, <i>The Forex Options Course</i> will help you develop the skills and strategies needed to succeed in today's dynamic forex market.
<p>Preface ix</p> <p>Acknowledgments xi</p> <p>About the Author xiii</p> <p><b>PART ONE Key Option Elements 1</b></p> <p><b>CHAPTER 1 The Elements of an Option Trade 3</b></p> <p>Plain Vanilla Options 3</p> <p>Purchasing an Option 3</p> <p>Writing an Option—Beginners Don’t 8</p> <p>Elements of an Option Trade or Ticket 10</p> <p>The Greeks 15</p> <p>Summary 23</p> <p><b>CHAPTER 2 What Affects Forex Option Prices? 25</b></p> <p>Time 25</p> <p>Volatility 27</p> <p>Summary 50</p> <p><b>PART TWO Forex Market Drivers 51</b></p> <p><b>CHAPTER 3 Finding Direction for Your Forex Option Trade 53</b></p> <p>The Importance of Interest Rate Expectations 53</p> <p>How to Anticipate the Direction of the Federal Open Market Committee (FOMC) 54</p> <p>How to Use Housing Sector Data for Developing Forex Option Trade Direction 62</p> <p>Evaluating Real Estate Exchange-Traded Funds (ETFs) 71</p> <p>Summary 77</p> <p><b>CHAPTER 4 Tracking Fundamental Directions 79</b></p> <p>Using Currency Targeted Exchange-Traded Funds (ETFs) to Determine If the Market Is Dollar Bearish or Bullish 79</p> <p>Diagnosing Global Economic Conditions 83</p> <p>Group Currencies by Purchasing Power Parity (PPP) (Big Mac Index) 84</p> <p>Tracking the Currency–Commodity Connection 94</p> <p>The Currency Outlook Checklist 97</p> <p>Summary 98</p> <p><b>PART THREE Timing the Trade with Technical Analysis 99</b></p> <p><b>CHAPTER 5 Chart Patterns and Trade Entry 101</b></p> <p>Chart Patterns and How to Use Them 101</p> <p>Scanning for Volatility 110</p> <p>Summary 114</p> <p><b>CHAPTER 6 Using Experts to Shape Trading Decisions 115</b></p> <p>Forecasting Accuracy? 116</p> <p>Professional Sources of Expert Forex Opinion 117</p> <p>Follow the Housing Prices 122</p> <p>Follow the Think Tanks 124</p> <p>Follow the Bank Forecasts 125</p> <p>Summary 128</p> <p><b>PART FOUR Forex Options Strategies 129</b></p> <p><b>CHAPTER 7 Vanilla, Spreads, and Volatility Strategies 131</b></p> <p>Plain Vanilla Strategies 131</p> <p>Currency Pair Spreads: Playing the Correlations and Divergencies 133</p> <p>Commodity–Currency Spread Strategies 139</p> <p>Carry Trade Option Strategies 144</p> <p>Trading Delta Call/Put Ratios 147</p> <p>Trading Vega or Volatility 150</p> <p>Gamma Spread Trading 154</p> <p>Key Forex Option Combinations and Components 156</p> <p>Summary 163</p> <p><b>CHAPTER 8 Binary Option Strategies 165</b></p> <p>What Is a Binary Option? 166</p> <p>Using Exotics to Derive Market Sentiment 170</p> <p>Combining Binary Options with Plain Vanilla and Spot Trading 173</p> <p>Summary 177</p> <p><b>CHAPTER 9 Option Strategies for Extreme Outcomes and Scenarios 179</b></p> <p>Recession in China or Continued Boom 179</p> <p>Option Trading to Play Carry Trades with Hedge—Putting on Collars 181</p> <p>$ 1000 + Gold and $200 + Crude Oil 182</p> <p>Trading $Oil Shock ($200) in Forex Options 183</p> <p>Play a U.S. Stagflation and Inflation 184</p> <p>Preemptive Attack on Iran 184</p> <p>Recovery of Housing 185</p> <p>Summary 185</p> <p><b>CONCLUSION Putting It All Together 187</b></p> <p>Achieving Optimal Forex Option Trading Fitness 187</p> <p>Forward Testing Your Forex Option Trading Fitness 188</p> <p>Where to Trade Forex Options 189</p> <p><b>APPENDIX Selected Futures Columns 191</b></p> <p>Index 213</p>
<p><b>ABE COFNAS</b> has been the forex trading columnist for <i>Futures</i> magazine since 2001. He also formed Learn4x.com—one of the first Web-based interactive training sites devoted to forex trading—in 2001, and currently manages a global forex trading team and call room at www.fxdimensions.com. He is founder of www.currencygames.com, a global forex currency game company that combines challenges and training. Cofnas is head forex coach at www.secretsofforextraders.com and the author of <i>The Forex Trading Course</i> (Wiley).
<b><p>THE FOREX OPTIONS COURSE</b> <p><i>The Forex Options Course</i> is a practical, hands-on guide to understanding and trading forex options. Designed to build a trader's knowledge base in a step-by-step manner, this reliable resource moves from the straightforward to the more sophisticated with discussions of everything from basic plain vanilla calls and puts to intriguing first-generation exotic binary options. <p>Organized as a self-paced guide, <i>The Forex Options Course:</i> <ul> <li>Lays out the key elements of forex options—from how option premiums are impacted by volatility to the basic elements of "the Greeks"</li> <li>Highlights different forex option strategies and tactics</li> <li>Breaks down essential forex market drivers</li> <li>Reviews important chart patterns that identify conditions for entering a trade and display market sentiment</li> </ul> <p>Learning about trading must be interactive, so throughout the book, you'll also find "assignments" that test your skills. They're designed to help you assess how well you understand the material, and guide you in finding and using valuable information for scanning currency conditions. <p>Filled with in-depth insights and practical advice, <i>The Forex Options Course</i> will help you develop the skills and strategies needed to succeed in today's dynamic forex market.

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