Cultural Diversity in Health and Illness or Bronfmans

Cultural Diversity in Health and Illness

Author: Rachel E Spector

The seventh edition of this well-respected book continues to promote an awareness of the dimensions and complexities involved in caring for people from diverse cultural backgrounds. Completely revised and updated, it examines the differences existing within North America by probing the health-care system and consumers, and citing examples of traditional health beliefs and practices among selected populations. An emphasis on the influences of recent social, political, and demographic changes helps to explore the issues and perceptions of health and illness today. Essential for any health-care professional, this book sets the standard for cultural perspectives.

Joan C. Murphy

This fifth edition, well-known, cultural work continues to deepen and expand the reader's theory and sense of inquiry. The purpose, as in past editions, is to increase the reader's awareness of the "dimensions and complexities involved as we meet the health and illness needs of patients." Cultural competence is now mandated by the Joint Commission of Hospital Accreditation and the Health Care Financing Administration. The author uses the notion of a quilt as a theme, thereby imaging continuity from chapter to chapter. This book is intended for virtually anyone providing healthcare, but especially nurses and nursing students as we are constantly encountering cultural diversity. The author is successful in this effort. The twelve chapters are divided into three units. In the first the focus is on provider self-awareness, in the second cultural awareness, and in the third selected traditional views of health and illness. One example is Chapter 11, "Health and Illness in Hispanic America." There are eight very valuable appendixes including Suggested Course Outline and Suggested Course Activities. There is an extensive (20 page) bibliography and an impressive directory of alternative healthcare associations. As discussed by the author, the U.S. will continue to receive a significant portion of its population via immigration. Given that prediction, it is imperative that educators and those already in practice focus on initial and ongoing cultural competency. This evolving theory base has become obligatory for humane, ethical, and legal practice. Ongoing cultural shifts and new theory necessitate the new edition.

Doody Review Services

Reviewer: Joan C. Murphy, EdD, MS, RN, NP (Utica College of Syracuse University)
Description: This fifth edition, well-known, cultural work continues to deepen and expand the reader's theory and sense of inquiry.
Purpose: The purpose, as in past editions, is to increase the reader's awareness of the "dimensions and complexities involved as we meet the health and illness needs of patients." Cultural competence is now mandated by the Joint Commission of Hospital Accreditation and the Health Care Financing Administration. The author uses the notion of a quilt as a theme, thereby imaging continuity from chapter to chapter.
Audience: This book is intended for virtually anyone providing healthcare, but especially nurses and nursing students as we are constantly encountering cultural diversity. The author is successful in this effort.
Features: The twelve chapters are divided into three units. In the first the focus is on provider self-awareness, in the second cultural awareness, and in the third selected traditional views of health and illness. One example is Chapter 11, "Health and Illness in Hispanic America." There are eight very valuable appendixes including Suggested Course Outline and Suggested Course Activities. There is an extensive (20 page) bibliography and an impressive directory of alternative healthcare associations.
Assessment: As discussed by the author, the U.S. will continue to receive a significant portion of its population via immigration. Given that prediction, it is imperative that educators and those already in practice focus on initial and ongoing cultural competency. This evolving theory base has become obligatory for humane, ethical, and legal practice. Ongoing cultural shifts and new theory necessitate the new edition.

Booknews

Written by a nurse, primarily for nurses, summarizes issues of provider self-awareness and delivery and acceptance of health care, and traditional views of health and illness in the context of various American ethnic groups. The bibliographies for each section are extensive. Annotation c. Book News, Inc., Portland, OR (booknews.com)

Rating

5 Stars! from Doody

Table of Contents:

A Word About Health

Unit I Cultural Foundations 1

Ch. 1 Cultural Heritage and History 3

Ch. 2 Diversity 31

Ch. 3 Health and Illness 48

Unit II Health Domains 71

Ch. 4 Health Traditions 74

Ch. 5 Healing Traditions 107

Ch. 6 Familial Health Traditions 147

Ch. 7 Health Care Delivery and Issues 167

Unit III Health and Illness Panoramas 201

Ch. 8 Health and Illness in the American Indian and Alaska Native Population 204

Ch. 9 Health and Illness in the Asian Populations 231

Ch. 10 Health and Illness in the Black Population 258

Ch. 11 Health and Illness in the Hispanic Populations 283

Ch. 12 Health and Illness in the White Populations 315

App. A Selected Key Terms Related to Cultural Diversity in Health and Illness 346

App. B Calendar: Religious Holidays That Change Dates 355

App. C Suggested Course Outline 357

App. D Suggested Course Activity - Urban Hiking 363

App. E Heritage Assessment Tool 365

App. F Quick Guide for CulturalCare 368

App. G Data Resources 370

Bibliography 375

Index 395

New interesting textbook: Quantitative Analysis for Management or Cost Accounting

Bronfmans: The Rise and Fall of the House of Seagram

Author: Nicholas Faith

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Tycoons War or Setting the Table

Tycoon's War: How Cornelius Vanderbilt Invaded a Country to Overthrow America's Most Famous Military Adventurer

Author: Stephen Dando Collins

When he died in 1877, Cornelius Vanderbilt, founder of the Vanderbilt dynasty, was wealthier than the U.S. Treasury. But he had nearly lost his fortune in 1856, when William Walker, a young Nashville genius, set out to conquer Central America and, in the process, take away Vanderbilt’s most profitable shipping business. To win back his empire, Vanderbilt had to win a bloody war involving seven countries.

Tycoon’s War tells the story of an epic imperialist duel—a violent battle of capitalist versus idealist, money versus ambition—and a monumental clash of egos that resulted in the deaths of thousands of Americans.

Written by a master storyteller, this incredible true story, impeccably researched and never before told in full, is packed with greed, intrigue, and some of the most hair-raising battle scenes ever written.

Library Journal

Dando-Collins (Caesar's Legion ) recounts the conflict between tycoon Cornelius Vanderbilt and adventurer William Walker over the control of Nicaragua from 1855 to 1857. Walker, with mercenary support, entered Nicaragua's civil war in 1855 on the side of the Democratico forces against the Legitimistas. Historians have seen the Tennessee native as wishing to reintroduce slavery to Nicaragua and encourage settlement by American Southerners. Dando-Collins claims that Walker initially acted out of personal ambition, seeking to emulate Sam Houston of Texas. Only after he was elected president of Nicaragua in 1856 did he turn to slaving-holding interests to support colonization and to bring in African labor. Dando-Collins's basis for his defense of Walker? That he came from a family hostile to slavery and there is no record that he supported the practice of slavery himself. Even if the paper trail is not there, Walker's willingness to reintroduce and thus expand slavery demonstrates tolerance for the institution and/or unscrupulous desire for power. His actions put him into conflict with Vanderbilt, who controlled a major portion of shipping routes that used Nicaragua as overland transit between the Atlantic and Pacific. After the Democratico government seized his company's assets, Vanderbilt, with the tacit encouragement of the U.S. government, supplied Guatemala, Honduras, and El Salvador with money for arms to depose Walker in 1857. While Dando-Collins presents the story readably, his questionable historical interpretation limits his book's value. Only for academic collections seeking comprehensive coverage.-Stephen Hupp. West Virginia Univ. Lib., Parkersburg

Kirkus Reviews

Absorbing tale of a conflict in 19th-century Central America sparked by two men with rather different ideas about Manifest Destiny. Australian historian Dando-Collins (Blood of the Caesars: How the Murder of Germanicus Led to the Fall of Rome, 2008, etc.) has written what in some measure qualifies as a dual biography of William Walker and Cornelius Vanderbilt, focusing on the circumstances that made them enemies and ended in Walker's violent death at age 36. When the book opens in 1849, Vanderbilt, who rose from poverty to become perhaps the wealthiest person in the United States, was 55 years old. He was determined to control shipping routes between America's East and West coasts, which would include winning transit rights across such Central American nations as Nicaragua and Panama. An 1849 meeting with U.S. Secretary of State John M. Clayton seemed to assure Vanderbilt the exclusive right to negotiate with the Nicaraguan government to build a canal there. None of the negotiators, however, foresaw the entrance of William Walker to rewrite their cozy scenario. Reared in Nashville, Tenn., Walker learned Greek and Latin by age 12, attended universities in the United States and Europe, earned degrees in medicine and law, then worked in New Orleans as a crusading journalist. Through a series of unlikely circumstances, the fearless Walker became an adventurer determined to spread North American influence throughout Central America. He arrived in Nicaragua in 1855 at the head of a group of mercenaries he had hired and trained; in 1856, he became the civil war-torn nation's president. When he began interfering with Vanderbilt's business plans, the tycoon decided to fight Walker with competingmercenaries. Four bloody years later, Vanderbilt had prevailed, and Walker died in front of a Honduran firing squad. Dando-Collins juggles disparate elements to maintain cohesion in a convoluted history of military campaigns, changes in governments, complicated business transactions and bizarre backdoor diplomatic dealings.

Table of Contents:

Maps

Introduction 1

1 Gun-Barrel Diplomacy 16

2 Down, but Not Out 29

3 Enter the Colonel 46

4 Landing Behind Enemy Lines 55

5 The Battle of Rivas 65

6 Victory at La Virgen 84

7 Walker's Secret Plan 99

8 Taking Granada 108

9 The Walker Way 117

10 Closing In on the Prize 136

11 On a Collision Course 145

12 Blindsiding Vanderbilt 151

13 The Gathering Storm 162

14 Going to War with Walker 172

15 The Battle of Santa Rosa 179

16 Courts-Martial and Firing Squads 186

17 A Killing or Two 193

18 The Second Battle of Rivas 205

19 President Walker 221

20 Battles on All Fronts 236

21 New Battlegrounds 250

22 Wheeling and Dealing 262

23 Here Was Granada 275

24 Closing Nicaragua's Back Door 284

25 Operation San Juan 295

26 To the Victor, the Spoils 309

27 The Surrender 324

Epilogue 329

The Protagonists' Motives 341

Bibliography 343

Notes 347

Index 359

See also: Structures of Memory or Martin Luther King JR and the Civil Rights Movement

Setting the Table: The Transforming Power of Hospitality in Business

Author: Danny Meyer

In October 1985, at age twenty-seven, Danny Meyer, with a good idea and scant experience, opened what would become one of New York City's most revered restaurants—Union Square Cafe. Little more than twenty years later, Danny is the CEO of one of the world's most dynamic restaurant organizations, which includes eleven unique dining establishments, each at the top of its game. How has he done it? How has he consistently beaten the odds and set the competitive bar in one of the toughest trades around?

In this landmark book, Danny shares the lessons he's learned while developing the winning recipe for doing the business he calls "enlightened hospitality." This innovative philosophy emphasizes putting the power of hospitality to work in a new and counterintuitive way: The first and most important application of hospitality is to the people who work for you, and then, in descending order of priority, to the guests, the community, the suppliers, and the investors. This way of prioritizing stands the more traditional business models on their heads, but Danny considers it the foundation of every success that he and his restaurants have achieved.

Some of Danny's other insights:

• Hospitality is present when something happens for you. It is absent when something happens to you. These two simple concepts—for and to—express it all.
• Context, context, context, trumps the outdated location, location, location.
• Shared ownership develops when guests talk about a restaurant as if it's theirs. That sense of affiliation builds trust and invariably leads to repeat business.
• Err on the side of generosity: You get more by first giving more.
• Wherever your center lies, know it, name it, believe in it. When you cede your core values to someone else, it's time to quit.

Full of behind-the-scenes history on the creation of Danny's most famous restaurants and the anecdotes, advice, and lessons he has accumulated on his long and ecstatic journey to the top of the American restaurant scene, Setting the Table is a treasure trove of innovative insights that are applicable to any business or organization.

The New York Times - Sara Dickerman

Meyer is more persuasive and interesting, both as a storyteller and as a business adviser, when he sticks to concrete examples from his working life instead of spinning them into catchphrases that might work in a PowerPoint presentation. He has built his business not on food or service alone, but on the value of a colorful story — especially the ones that his clients tell to his future clients: the wallet lost in a cab and tracked down by Tabla's manager; the personal call from Meyer before a big anniversary dinner; a superb frozen custard on a sunny day in Madison Square Park.

Publishers Weekly

With the same grace and generosity displayed in his dining rooms, Meyer's instructive how-we-did-it account shares lessons learned on his way to becoming CEO of Union Square Hospitality Group. Meyer opened Union Square Cafe in 1985 when he was 27 years old. It hit its stride three years later when he hired chef Michael Romano, and Meyer charts its evolution from a neighborhood to international institution. Initially cautious about expansion, he opened Gramercy Tavern with chef Tom Colicchio three years later, eventually broadening his New York City restaurant empire to 11 establishments including Eleven Madison Park, Tabla, Blue Smoke, Shake Shack and the Modern. Meyer makes a distinction between service ("the technical delivery of a product") and the "Enlightened Hospitality" at the core of his business strategy-both necessary for restaurant success. He notes that hospitality "is how the delivery of that product makes its recipient feel" and shares tips like hiring "51 percenters," or staff with "skills divided 51-49 between emotional hospitality and technical excellence," and the "Five As" for addressing mistakes: awareness, acknowledge, apologize, act, additional generosity. This honest, modest book will appeal most to foodies and aspiring restaurateurs but also offers insight for entrepreneurs in any industry. (Oct.) Copyright 2006 Reed Business Information.

Library Journal

Meyer is known to foodies as the man behind 11 acclaimed restaurants in New York City, including Union Square Caf and Gramercy Tavern. While that would be more than enough professional accomplishment for most people, apparently Meyer has had time enough on his hands to branch out into writing as well. Anyone who has started or maintained a business will have strong ideas about the best way to run things, and Meyer is no exception. While such chapter headings as "The 51 Percent Solution" and "Constant, Gentle Pressure" evoke the all-too-common themes of most leadership books, this book is something more. It is actually the story of Meyer's restaurant empire and how he got to where he is today, overlaid with his own views on management and what has worked for him. A fun and enjoyable read, it provides a good behind-the-scenes view of the restaurant business, though it's more autobiography than business how-to. Recommended for libraries with strong cookery or business collections.-Susan Hurst, Miami Univ. Libs., Oxford, OH Copyright 2006 Reed Business Information.

The Return of Depression Economics or Scam Proof Your Life

The Return of Depression Economics

Author: Paul Krugman

Surely the Great Depression could never happen again. Or could it? Over the course of the last two years, six Asian economies have experienced an economic slump that bears an eerie resemblance to the Great Depression. Russia defaulted on its debt in 1998 -- an event that, halfway around the world, drove Brazilian interest rates through the roof and terrified the U.S. bond market. At Long-Term Capital Management, some of the brightest financiers in the world found themselves in a jam that had all the makings of the overleveraged positions that caused the 1929 stock market crash. Such events -- and the significant questions they raise for policy makers -- are the topics of this lively, informative book.

Fortune

Paul Krugman writes better than any economist since John Maynard Keynes.

Economist

It is a pity that this excellent book did not come out sooner....Mr. Krugman asks two big questions. How did the seemingly innocuous devaluation of the Thai baht in July 1997 set off a financial whirlwind that devastated Asia and Russia, and that looked for a stormy few weeks...as if it might sweep away the global financial system? And how could policymakers have limited the economic damage that this financial maelstrom wreaked?....Most people will disagree with some of [the book]. But few will fail to be stimulated by Mr. Krugman's clear thinking and lively style.

Christian Science Monitor - David Francis

R....[A] lively, clear, modest package for those trying to understand the ins and outs of a bewildering mess. He writes in normal language, not economist's jargon.

Washington Monthly - Jonathan Chait

...[N]ot a prediction of disaster....rather, an argument...that the conventional wisdom of economists, executives, journalists, and policy-makers is utterly deluded...

New York Times Book Review - Floyd Norris

Everything Mr. Krugman has to say is smart, important, and even fun to read.

Far Eastern Economic Review - G. Pierre Goad

...Krugman tackles the woes of Asia and the world with wit and brevity. Anybody who has been closely following the academic debate over the causes and consequences of the crisis will find some of the material familiar....However, even hard-core Asian-crisis junkies will find the book worthwhile....Whether his theories are right or not, the world would be a better place if his economist pals embraced his policy of making economics comprehensible.

Far Eastern Economic Review - G.Pierre Goad

...Krugman tackles the woes of Asia and the world with wit and brevity. Anybody who has been closely following the academic debate over the causes and consequences of the crisis will find some of the material familiar....However, even hard-core Asian-crisis junkies will find the book worthwhile....Whether his theories are right or not, the world would be a better place if his economist pals embraced his policy of making economics comprehensible.

Publishers Weekly

As an economist in good standing, writes MIT economist Krugman, I am quite capable of writing things that nobody can read. Fortunately, Krugman, author of Slates Dismal Science column, is also quite capable of writing things that almost anyone can read. An accomplished translator of economics into English, Krugman (Peddling Prosperity; The Accidental Theorist; etc.) takes a look at the international financial turmoil of the past two years and concludes that, confident assertions of happy globalizers and bullish day traders notwithstanding, a great depression could happen again. Depression economics is back, he argues, meaning that for the first time in two generations, failures on the demand side of the economy... have become the clear and present limitation on prosperity for a large part of the world. Whether discussing the currency collapse in Indonesia, the travails of Brazil and Russia (and how theyre related) or the failure of hedge funds such as Long Term Capital Management, Krugman writes with invigorating lucidity and forceful opinion. Now as in the 1930s, however, one cannot defend globalization merely by repeating free-market mantras, even as economy after economy crashes. If his message is dire, his tone is light, almost jaunty as he calls supply-side economics a crank doctrine and ably articulates a Keynsian willingness to regulate markets in order to stabilize economies and minimize human suffering. Moving from concrete examples (e.g., the struggles of a Japanese baby-sitting coop) to stinging critiques of head-in-the-sand theorists, Krugman proves himself not only comprehensible but also well worth comprehending.

Library Journal

Krugman (economics, M.I.T.) addresses the question, "Could the world-wide depression of the 1930s happen now?" In this short book, rushed to publication (and showing signs of hasty writing), Krugman analyzes the financial and economic situations of countries that have been experiencing difficulties in the last few years, such as Russia, Japan, six southeastern countries, and Brazil and concludes that while they are in an economic slump, this is not a return to the 1930s. What is to be done? For advanced economies, such as Japan's, he advocates a radical expansion of the money supply as an economic stimulus. In developing countries, such as Brazil, he believes that the economic medicine needed is devaluation of the currencies and even currency controls. These very complicated situations, however, do not necessarily lend themselves to such one-shot solutions. An optional purchase.--Harry Frumerman, formerly with Hunter Coll., New York Copyright 1999 Cahners Business Information.

Fortune

Paul Krugman writes better than any economist since John Maynard Keynes.

The Economist

It is a pity that this excellent book did not come out sooner....Mr. Krugman asks two big questions. How did the seemingly innocuous devaluation of the Thai baht in July 1997 set off a financial whirlwind that devastated Asia and Russia, and that looked for a stormy few weeks...as if it might sweep away the global financial system? And how could policymakers have limited the economic damage that this financial maelstrom wreaked?....Most people will disagree with some of [the book]. But few will fail to be stimulated by Mr. Krugman's clear thinking and lively style.

The Christian Science Monitor - David R. Francis

...[A] lively, clear, modest package for those trying to understand the ins and outs of a bewildering mess. He writes in normal language, not economist's jargon.

The New York Times Book Review - Floyd Norris

Everything Mr. Krugman has to say is smart, important, and even fun to read.

The Washington Monthly - Jonathan Chait

...[N]ot a prediction of disaster....rather, an argument...that the conventional wisdom of economists, executives, journalists, and policy-makers is utterly deluded...

Far Eastern Economic Review - G. Pierre Goad

...Krugman tackles the woes of Asia and the world with wit and brevity. Anybody who has been closely following the academic debate over the causes and consequences of the crisis will find some of the material familiar....However, even hard-core Asian-crisis junkies will find the book worthwhile....Whether his theories are right or not, the world would be a better place if his economist pals embraced his policy of making economics comprehensible.

Business Week - Daniel M. Koretz

Economists are not known for making complex ideas accessible to the general reader, but Krugman accomplishes this with effortless grace and style.

Table of Contents:

Introduction.......................................................vii
one July 1, 1997....................................................1
two A Short Course in Miracles: Asia before the Crisis.............21
three Warning Ignored: Latin America, 1995.........................38
four The Future That Didn't Work: Japan in the 1990s...............60
five All Fall Down: Asia's Crash...................................83
six The Confidence Game...........................................102
seven Masters of the Universe: Hedge Funds and Other Villains.....118
eight Bottoming Out?..............................................137
nine The Return of Depression Economies...........................154
Index..............................................................169

Books about: Fighting Words or The Celling of America

Scam-Proof Your Life: 377 Smart Ways to Protect You and Your Family from Rip-Offs, Bogus Deals, and Other Consumer Headaches

Author: Sid Kirchheimer

Get inside information from those in the know on how to protect your money, your rights, and your health—with the most complete, practical, and easy-to-follow collection of consumer wisdom ever assembled.

In this essential action guide by dogged consumer reporter Sid Kirchheimer, more than 100 leading experts reveal smart and specific tips, techniques, and tactics that anyone can use to avoid being victimized—financially, physically, or emotionally. Car salesmen disclose secret strategies to save you thousands of dollars on your next vehicle purchase. Repairmen divulge the tricks of their trades … and disclose the advice you'll need to get superior service at an honest price. Con men and crooks offer defensive directives to deprive thieves of your money, your possessions, and your identity.

Kirchheimer gets the experts to cough up everyday counsel as well. Doctors share simple steps you can take today to guard against medical errors and lower your health-care costs. Attorneys tell how to protect yourself in a courtroom and in daily life. Industry insiders and consumer advocates detail when, where, and how to get the most for your time and money: They expose all sorts of stealthy solutions for saving when you buy a home or apply for a mortgage, telephone service, or a credit card. They even tell you how to save big on travel arrangements, and how to secure a college scholarship for less-than-Dean's List students!

Scam-Proof Your Life is the latest work by award-winning consumer crusader Sid Kirchheimer, who writes the popular "Scam Alert" column in The AARP Bulletin—the nation's most widely circulated newspaper. Kirchheimer is the author of The Doctors Book of Home Remedies II (2 million copies sold), Never Pay Retail, and other critically acclaimed books devoted to empowering ordinary people to protect their money, time, health, and security.

Publishers Weekly

The "Scam-Alert" columnist from the AARP newsletter, Kirchheimer has authored or edited 12-plus Ralph Nader-like salvos aimed at taking out consumer-directed fraud. Kirchheimer interviewed "nearly 100 reformed scammers" for this compendium of recent bilking schemes and corner-cuttings. His advice covers most major mid-life expenses, from buying a new car to buying a home to paying for college to booking a cruise. Chapters on credit cards and identity-theft go into greater depth than most coverage these issues usually get in similar books. Three chapters on healthcare go into detail on everything from drug pricing to malpractice. A final "Roundup of Common Scams" (including the infamous "Nigerian Letter" and cyber "phishing" scams) will leave readers well-informed, and perhaps slightly paranoid. Most helpful is the careful, practical way in which Kirchheimer walks readers through such tasks as reading a phone bill, where to go to find eldercare, or to whom they can complain about shady financial dealings. Copyright © 1997-2005 Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.

Library Journal

Consumer reporter Kirchheimer, who writes the "Scam Alert" column for the AARP [American Association of Retired Persons] Bulletin, here aims to help consumers avoid swindles, ripoffs, and the costly mistakes of service providers. In three main sections that coach readers on protecting money, health, and rights, Kirchheimer combines common sense with insider tips. He details the 12 most prevalent scams, including pyramid schemes, advance-fee loans, and foreign lotteries, and advises on everything from choosing a mortgage to avoiding pickpockets, fighting germs, battling an unfair job termination, and contesting a traffic ticket. The text is enhanced with graphics that highlight tips, resources, special warnings, and definitions. The author consulted numerous experts on his many topics, including people from both sides of the fence, e.g., he offers advice from car salesmen and repairmen on how to pay less and from consumer and healthcare advocates on getting the most for your money. He supports this information with both direct quotes and a "Panel of Experts" section that provides background, publications, and web links. Because the text covers more than just scams, it is broader in scope than Duane Swierczynski's The Complete Idiot's Guide to Frauds, Scams and Cons and is recommended for most public libraries.-Joan Pedzich, Harris Beach PLLC, Rochester, NY Copyright 2006 Reed Business Information.

Rich Dads Guide to Becoming Rich Without Cutting Up Your Credit Cards or Currency Trading for Dummies

Rich Dad's Guide to Becoming Rich Without Cutting Up Your Credit Cards

Author: Robert T Kiyosaki

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Books about: Frommers Yellowstone Grand Teton National Parks or Great Plains

Currency Trading for Dummies

Author: Brian Dolan

Features forex market guidelines and sample trading plans

The fun and easy way to get started in currency trading

Want to capitalize on the growing forex market? This nuts-and-bolts guide gives you a step-by-step action plan for understanding and trading the forex market. It offers practical guidance and savvy tips in everything from comprehending currency quotes to using leverage, trading with fundamentals, and navigating technical analysis.

• Identify trading opportunities

• Understand what drives the market

• Choose a trading broker

• Execute a successful trade

• Minimize risk and maximize profit

• Analyze currency charts

Table of Contents:

Introduction     1
About This Book     2
Conventions Used in This Book     2
What You're Not to Read     3
Foolish Assumptions     3
How This Book is Organized     4
Trading the World's Largest Financial Market     4
Moving Currencies: Driving Forces Behind Forex Rates     5
Developing a Trading Plan     5
Executing a Plan     5
The Part of Tens     5
Icons Used in This Book     5
Where to Go from Here     6
Trading the World's Largest Financial Market     7
Currency Trading 101     9
What Is Currency Trading?     9
Speculating as an enterprise     10
Currencies as the trading vehicle     10
What Affects Currency Rates?     11
Fundamentals drive the currency market     12
Unless it's the technicals that are driving the currency market     12
Or it may be something else     13
Developing a Trading Plan     13
Finding your trading style     14
Planning the trade     14
Executing the Trading Plan from Start to Finish     15
What Is the Forex Market?     17
Getting Inside the Numbers     18
Trading for spot     19
Speculating in the currency market     19
Getting liquid without getting soaked     20
Around the World in a Trading Day     20
The opening of the trading week     21
Trading in the Asia-Pacific session     22
Trading in the European/London session     23
Trading in the North American session     23
Key daily times and events     24
The U.S. dollar index     26
Currencies and Other Financial Markets     26
Gold     27
Oil     28
Stocks     28
Bonds     29
Getting Started with a Practice Account     29
Who Trades Currencies? Meet the Players     31
The Interbank Market Is "The Market"     31
Getting inside the interbank market     32
Bank to bank and beyond     33
Hedgers and Financial Investors     34
Hedging your bets     35
Global investment flows     37
Speculators     38
Hedge funds     39
Day traders, big and small     40
Governments and Central Banks      41
Currency reserve management     41
The Bank for International Settlements     43
The Group of Seven     43
The Mechanics of Currency Trading     45
Buying and Selling Simultaneously     45
Currencies come in pairs     46
The long and the short of it     49
Profit and Loss     51
Margin balances and liquidations     51
Unrealized and realized profit and loss     52
Calculating profit and loss with pips     52
Factoring profit and loss into margin calculations     54
Understanding Rollovers and Interest Rates     54
Currency is money, after all     54
Value dates and trade settlement     55
Market holidays and value dates     56
Applying rollovers     57
Understanding Currency Prices     58
Bids and offers     59
Spreads     59
Executing a Trade     60
Trading online     60
Orders     62
Moving Currencies: Driving Forces Behind Forex Rates     69
Getting to Know the Major Currency Pairs     71
The Big Dollar: EUR/USD     72
Trading fundamentals of EUR/USD      72
Trading behavior of EUR/USD     75
Tactical trading considerations in EUR/USD     78
East Meets West: USD/JPY     79
Trading fundamentals of USD/JPY     79
Price action behavior of USD/JPY     82
Tactical trading considerations in USD/JPY     85
The Other Majors: Sterling and Swissy     86
The British pound: GBP/USD     86
Safe haven or panic button: USD/CHF     88
Price action behavior in GBP/USD and USD/CHF     90
Tactical trading considerations in GBP/USD and USD/CHF     91
Minor Currency Pairs and Cross-Currency Trading     95
Trading the Minor Pairs: USD/CAD, AUD/USD, and NZD/USD     96
Trading fundamentals of USD/CAD     96
Trading fundamentals of AUD/USD     99
Trading fundamentals of NZD/USD     101
Tactical trading considerations in USD/CAD, AUD/USD, and NZD/USD     103
Cross-Currency Pairs     106
Why trade the crosses?     107
Calculating cross rates     108
Stretching the legs     109
Trading the JPY crosses     110
Trading the EUR crosses     111
Looking at the Big Picture     113
Currencies and Interest Rates      114
The future is now: Interest rate expectations     115
Relative interest rates     116
Monetary Policy 101     117
Looking at benchmark interest rates     118
Easy money, tight money     118
Identifying monetary policy cycles     119
Watching the central bankers     122
Interpreting monetary policy communications     124
Managing expectations     126
Official Currency Policies and Rhetoric     127
Currency policy or currency stance?     127
Calling the shots on currencies     129
Currency market intervention     131
Geopolitical Risks and Events     134
Understanding and Applying Market News, Data, and Information     137
Sourcing Market Information     138
The art of boarding a moving train     138
Taking the pulse of the market     139
Analysts, economists, and strategists: What's the difference?     141
Rumors: Where there's smoke, there's fire     142
Putting Market Information into Perspective: Focusing on Themes     143
Driving fundamental themes     143
Analyzing technical themes     147
Reality Check: Expectations versus Actual     148
The role of consensus expectations     149
Pricing in and pricing out forecasts     150
When good expectations go bad     151
Anticipating alternative outcome scenarios     151
Getting Down and Dirty with Fundamental Data     153
Finding the Data     154
Economics 101 for Currency Traders: Making Sense of Economic Data     155
The labor market     155
The consumer     156
The business sector     156
The structural     157
Assessing Economic Data Reports from a Trading Perspective     157
Understanding and revising data history     158
Getting to the core     159
Market-Moving Economic Data Reports from the United States     160
Labor-market reports     160
Inflation gauges     163
Gross domestic product (Relevance: High)     164
Trade and current account balances     165
Leading economic indicators (Relevance: Low)     166
Institute for Supply Management and purchasing managers reports     166
Consumer sentiment reports     167
Personal income and personal spending (Relevance: Medium)     168
Retail sales (Relevance: High)     168
Durable goods orders (Relevance: Medium)     169
Housing-market indicators     169
Regional Federal Reserve indices     170
The Fed's Beige Book (Relevance: High)     171
Major International Data Reports     172
Eurozone     172
Japan     173
United Kingdom     174
Canada     174
Australia     175
Switzerland     175
New Zealand     175
Cutting the Fog with Technical Analysis     177
The Philosophy of Technical Analysis     178
What is technical analysis?     178
What technical analysis is not     178
Forms of technical analysis     179
Finding support and resistance     179
Waiting for confirmation     181
The Art of Technical Analysis     182
Bar charts and candlestick charts     182
Drawing trend lines     183
Recognizing chart formations     185
Fibonacci retracements     196
The Science of Technical Analysis     198
Momentum oscillators and studies     198
Trend-identifying indicators     202
Developing a Trading Plan     205
Training and Preparing for Battle     207
Finding the Right Trading Style for You     207
Real-world and lifestyle considerations     208
Making time for market analysis     209
Technical versus fundamental analysis     209
Different Strokes for Different Folks     210
Short-term, high-frequency day trading     211
Medium-term directional trading     214
Long-term macroeconomic trading     216
Developing Trading Discipline     219
Taking the emotion out of trading     220
Managing your expectations     221
Keeping your ammunition dry     222
Identifying Trade Opportunities     225
Developing a Routine for Market Analysis     225
Performing Multiple-Time-Frame Technical Analysis     226
Identifying Relevant Support and Resistance Levels     231
Trend lines     232
Highs and lows     232
Congestion zones     232
Retracements     233
Looking for Symmetry with Channels and Retracements     233
Drawing price channels     233
Finding support and resistance with Fibonacci retracements      235
Listening to Momentum     237
Factoring momentum analysis into your routine     237
Looking at momentum in multiple time frames     238
Trading on divergences between price and momentum     239
Using momentum for timing entry and exit     240
Trading on Candlestick Patterns     242
Building a Trade Strategy from Start to Finish     243
Risk-Management Considerations     247
Managing Risk Is More Than Avoiding Losses     247
Market liquidity, volatility, and gap risk     248
Leverage amplifies gains and losses - and expectations     251
Knowing your margin requirements     252
We have a winner here! Protecting your profits     253
Placing your orders effectively     253
Applying Risk Management to the Trade     256
Analyzing the trade setup to determine position size     256
Doing the math to put the risk in cash terms     258
Devising the trading plan in terms of risk     258
Choosing Your Trading Broker     261
Different business models of brokers     261
Financial risks of brokers     262
Technology Issues and Contingency Planning     263
Executing a Plan      265
Pulling the Trigger     267
Getting into the Position     267
Buying and selling at the current market     268
Averaging into a position     268
Trading breakouts     272
Making the Trade Correctly     277
Buying and selling online     277
Placing your orders     279
Managing the Trade     281
Monitoring the Market while Your Trade Is Active     282
Following the market with rate alerts     282
Staying alert for news and data developments     283
Keeping an eye on other financial markets     284
Updating Your Trade Plan as Time Marches On     286
Trend lines move over time     287
Impending events may require trade plan adjustments     289
Updating Order Levels as Prices Progress     290
Increasing take-profit targets     290
Tightening stop-loss orders to protect profits     291
Closing Your Position and Evaluating Your Trading Results     293
Closing Out the Trade     294
Taking profit and stopping out     294
Setting it and forgetting it: Letting the market trigger your order     296
Squaring up after events have happened      297
Exiting at the right time     298
Getting out when the price is right     299
Assessing Your Trading Strategy     299
Identifying what you did right and wrong     300
Updating your trading record     301
The Part of Tens     303
Ten Habits of Successful Currency Traders     305
Trading with a Plan     305
Anticipating Event Outcomes     306
Staying Flexible     306
Being Prepared for Trading     306
Keeping Technically Alert     307
Going with the Flow/Trading the Range     307
Focusing on a Few Pairs     308
Protecting Profits     308
Trading with Stop Losses     308
Watching Other Markets     309
Ten Beginner Trading Mistakes     311
Running Losers, Cutting Winners     311
Trading without a Plan     312
Trading without a Stop Loss     312
Moving Stop-Loss Orders     312
Overtrading     313
Overleveraging     313
Failing to Adapt to Changing Market Conditions     313
Being Unaware of News and Data Events     314
Trading Defensively     314
Keeping Realistic Expectations     314
Ten Rules of Risk Management     315
Trade with Stop-Loss Orders     315
Leverage to a Minimum     316
Trade with a Plan     316
Stay on Top of the Market     316
Trade with an Edge     316
Step Back from the Market     317
Take Profit Regularly     317
Understand Currency Pair Selection     317
Double-Check for Accuracy     318
Take Money Out of Your Trading Account     318
Ten Great Resources     319
Technical Analysis of the Financial Markets   John Murphy     319
Japanese Candlestick Charting Techniques   Steve Nison     320
Elliott Wave Principle   A. J. Frost   Robert R. Prechter, Jr.     320
Technical Analysis Explained   Martin J. Pring     320
Technical Analysis For Dummies   Barbara Rockefeller     321
The Book of Five Rings   Miyamoto Musashi     321
Reminiscences of a Stock Operator   Edwin Lefevre     321
Market Wizards: Interviews with Top Traders   Jack D. Schwager     322
Thirty Days of Forex Trading   Raghee Horner      322
Come into My Trading Room   Alexander Elder, MD     322
Index     323